Quindell Red Flag of the day – Let’s Look at Isaas Technology Ltd

I have not looked at a subsidiary account at Quenron (QPP) for a while but just to save the SFO/Administrator some work in due course here’s another one, Isaas Technology Ltd a company bought in March 2013 for £4.5 million in shares. Hmmmm.

I refer you to the Quenron August 2013 investor presentation as it started the ramp up for the £200 million rescue placing of that year – see HERE for the lie packed document in full.  We were told (page 13) that we had a warranted EBITDA for 2013 of £1.6 million and that current run rate was £1.7 million.  That fits in with the Quenron stated policy of paying a maximum of 5-7 times profit.

I now refer you to the 2013 audited accounts

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