Form 4.20 Rule 4 34 - CVL The Insolvency Act 1986 Statement of Company's Affairs Pursuant to section 95/99 of the Insolvency Act 1986 For Official Use To the Registrar of Companies Company Number 08426069 Name of Company 7HEDGE LIMITED™ 1/We . Phillip Roberts, Sterling Ford, Centurion Court, 83 Camp Road, St Albans, AL1 5JN the liquidator(s) of the above named company attach a statement of the company affairs as at 18 March 2015 Date 18 March 2015 Signed Philip A Roberts . For Official Use Sterling Ford — [ wm Centurion Court Insolvency Section Post Room 24/03/2015 #164 COMPANIES HOUSE Rule 4 34-CVL Form 4 19 Statement of Affairs Statement as to affairs of 7HEDGE LIMITED on the 18 March 2015 the date of the resolution for winding up Statement of truth | believe that the facts stated in this Statement of Affairs are true Full Name ho bin PILVAKE!S™ Signed fe J2EZ— Dated 1& 3 ftols. 7 7 Insolvency Act 1986 7HEDGE LIMITED STATEMENT OF AFFAIRS AS AT 18 MARCH 2015 Cost Estimated A~SUMMARY OF ASSETS Or Realisable Notes Book Value Values ASSETS SPECIFICALLY PLEDGED - ASSETS NOI SPECIFICALLY PLEDGED - Cash at Bank 3) 655 655 Debtor (4) 44,981 Nil Plant & Equipment (5) 3,600 Nil Office Equipment (6) 12,701 Uncertain Furniture, Fittings & Equipment (7) 9,210 Nil 71,147 ESTIMATED TOTAL ASSETS AVAILABLE FOR PREFERENTIAL CREDITORS 655 Signature jl it —.,.. Lofis Insolvency Act 1986 THEDGE LIMITED STATEMENT OF AFFAIRS AS AT 18 MARCH 2015 Al SUMMARY OF LIABILITIES Estimated Realisable Values ESTIMATED TOTAL ASSETS AVAILABLE FOR PREFERENTIAL CREDITORS (CARRIED FROM PAGE A) 655 PREFERENTIAL CREDITORS - NIL ESTIMATED SURPLUSADEFICIENCY) AS REGARDS PREFERENTIAL 655 CREDITORS DEBTS SECURED BY A FLOATING CHARGE - NIL ESTIMATED SURPLUS/(DEFICIENCY) OF ASSETS AVAILABLE FOR NON PREFERENTIAL CREDITORS 655 NON-PREFERENTIAL CLAIMS - Crown Departments (as per schedule B attached) 15,431 Trade & Expense Creditors (as per schedule B attached) 129,903 Director’s Current/Loan Account (as per schedule B 215,000 attached) (360,334) ESTIMATED (DEFICIENCY) AS REGARDS CREDITORS (359,679) ISSUED AND CALLED UP CAPITAL - Ordinary/Preference Shareholders (1,152) (1,152) ESTIMATED (DEFICIENCY) AS REGARDS MEMBERS (360,831) Signature fl pEa>—., 13/3 Los / B 7HEDGE LIMITED DIRECTOR’S CURRENT/ LOAN ACCOUNT — RAFAH HANNA 141 ANSON ROAD £0 00 LONDON NW2 4AL (Included in Employee Clarms) ROBIN ALVAREZ £75,000 ff Vas 000 20 NORFOLK ROAD LONDON NW8 6HG ROBERT SMITH 5" ELOOR - SUITE Ma4 £140,000 00 5 ALDERMANBURY SQUARE LONDON EC2V 7HR DIRECTOR’S CURRENT/ LOAN ACCOUNT TOTAL £215,000.00 CROWN DEPARTMENTS HM REVENUE & CUSTOMS £8,637 21 ICHU BENTON PARK VIEW LONGBENTON NWCASTLE NE98 12Z THE INSOLVENCY SERVICE £6,794 00 REDUNDANCY PAYMENTS, PO BOX 15424, BIRMINGHAM, B16 6JJ TOTAL £15,431.21 TRADE LOAN & EXPENSE CREDITORS DEUTSCHE BANK £9,333 92 | GREAT WINCHESTER STREET, LONDON EC2N 2DB FLEXTRADE SYSTEMS INCL £82,740 00 111 GREAT NECK ROAD SUITE 314,GREAT NECK,NEW YORK 11021,USA Signature a ew Date a 3 LOI ys ils] 7HEDGE LIMITED FOREXMAX £6,006 61 8" FLOOR NORRTHERN & SHELL BUILDING 10 LOWER THAMES STREET LONDON EC3R 6AD POWWOWNOW £27 67 IST FLOOR, VECTRA HOUSE,36 PARADISE ROAD,RICHMOND,TW9 ISE THOMSON REUTERS £314 40 3 TIMES SQUARE NEW YORK, NY 10036 USA ASHWIND SOONARANE £11,44021 FLAT 8 RUTLAND HOUSE, THE FARMLANDS,NORTHOLT, UBS SEY THINK IB LIMITED £3,390 35 62 AVENUE DES MOUTTES QUATRE BORNES,MAURITIUS TA3 LTD £3,171 00 20 COXON STREET SPONDON, DERBY DERBYSHIRE DE21 7JG CAMERON BAUM £3,600 00 88 CRAWFORD STREET, LONDON WIH 2EJ MATT ROSHAN £73 00 SACHIN CHUDASAM £495 00 FIXNETIX £9,264 00 45 MOORFIELDS, LONDON EC2Y 9AE GOOGLE £46 83 1600 AMPHITHEATRE PARKWAY MOUNTAIN VIEW, CA 94043 USA TOTAL £129,902.99 Signature LL pZ————— Date 1 84 34/42 ort 7 7 7HEDGE LIMITED STATEMENT OF AFFAIRS DATED 18 MARCH 2015 Notes The above estimates are subject to the costs of Winding-Up Inclusion on the attached schedule does not signify admission of your claim nor does omission mvalidate any claim that you may have against the Company (3) Cash at bank - the figure shown of £655 comprises balances held in 3 accounts as follows uo £640GBP, $21USDollar [assuming an effective exchange rate of £1 00 $1 40] and € Nil Euros Debtors - the figure shown of £44,981 comprises 1) £21,140 due from Deutsche Bank but subject offset in respect of sums due to Deutsche Bank of £30,473 92, to leave a net claim as a creditor of £9,333 92 i) £23,840 paid to Servcorp as a deposit in respect of a service agreement between Servcorp and 7Hedge Inc , mcorporated in Delaware, USA but now thought to have been dissolved The Service Agreement dated 24 April 2014 provided office space until 31 May 2015 at a monthly rental of £9,536 At 4 March 2015 the balance due to Serveorp stood at £14,821 72 with rent still due for April and May of £9,536 for each month, total £33,893 72 Whilst the claim for rent would have to be made directly against 7Hedge Inc it 1s considered unlikely that a liquidator would succeed in recovering the deposit, albert paid by the Company, a third party occupant Plant & Equipment - the figure shown of £3,600 represents the cost of development of the Company's website, which ts estimated to realise £N1l Office Equipment - the figure shown of £12,701 includes 5 Dell workstations with 16 x 21" flat screens with stands, a Samsung TV and laptop and an Apple iMac The Dell equipment and Samsung TV are still located at the Company's premises provided by Servcorp and would be subject to Servcorp’s permission in allowing their removal, which although third party owned could be difficult to enforce through the court The 1Mac and Samsung laptop are presently in the possession of two former employees of the Company In the circumstances the estimated realisable value of these items 1s 'uncertain' Furniture & Fixtures - the figure shown of £9,210 includes the cost of partitioning the space provided by Servcorp of £5,000, a 5 channel rack server located in Servcorp's comms room at a cost of £3,080 and a perspex 7Hedge logo at a cost of £480 In the circumstances these items are estimated to realise £Nil