Mobiboo US, INC. today announces that on June 25 2007 it revoked the business operating licenses from Mobiboo (Europe) Limited and Mobiboo Mobile Limited in Great Britain.
Mobiboo US, INC. has been forced to take this action for a number of reasons, although primarily because the Mobiboo companies in Great Britain have not managed to attain sufficient levels of customer acquisition during their first year, nor have they managed to captivate the British and European markets. There are also a number of license fees due to Mobiboo US, INC. that remain unpaid.
British born President of Mobiboo US, Inc., Stephen P. Harries adds “This is a disappointing event in Mobiboo’s history. We have been working around the clock with some assistance from the British business CEO, Martin Heath (ex KPMG) and CFO Ashley Warden, to try and find a solution but there seems to be none forthcoming. Mobiboo US, INC. has taken this decision to protect its’ name and worldwide interests in other emerging Mobiboo licensed companies”.
Mobiboo began operating in Great Britain under license almost a year ago with an enormous opportunity ahead, but has not been able to attract a sustainable customer base. Mobiboo then acquired Rabbit Point, a rival WiFi service provider headed up by Martin Heath, who became the CEO of the newly named Mobiboo Mobile in Great Britain. Heath believed that the new Mobiboo business and the creation of a new Mobiboo WiFi handset brand known as ‘tovo’ would enable Mobiboo to flourish. The ‘tovo’ brand, which has been on sale in a number of British branches of the supermarket TESCO has yielded poor results for the business.
Harries added “The acquisition or Rabbit Point should have really allowed the British business to move forward but it appears to have simply caused a split in the management team who achieved practically nothing in almost a year”.
Mobiboo US, INC. is currently operating a number of the customers acquired by the British Mobiboo companies whilst the WiFi customers are in the process of being purchased from the Administrator by Martin Heath & Ashley Warden under a new company name.
Mobiboo US, INC. is now actively seeking either a new licensee operating company in Great Britain with experience in the VoIP arena or may consider selling the British Mobiboo business, customers, platforms and brand to an existing VoIP company.
Mobiboo’s departing British CEO, Martin Heath (ex-KPMG) was asked to participate in this press release but declined.
Mobiboo US, Inc.
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