On the 12th June 2025, what was, just 12 months previously, under founder Thomas Oswald a hugely successful paid per view photo sharing platform known as Clickasnap. This platform, built up over a period of 10 years by the founder was taken over by the board in February of 2024 when the board, consisting of Jason Hill and Eliza Davenport, fabricated an audit by intentionally misleading auditors knight Goodhead. The founder was subsequently arrested and released on bail under fraud by abuse of position allegations
Just 12 months on, the police released Thomas Oswald from all allegations but it was too late, the directors Jason Hill, Manish Kotecha, Karl Loeser and Eliza Davenport had driven the once hugely successful company into over £1m of debt, over £300k to Taylor Wessing alone.
The company was forced into administration on the 12th June and the assets (Clickasnap.com) sold on the same day in a pre-pack deal worth just £90k to a Guernsey based company owned by Craig Marsh. A shareholder of the original business Videscape limited.
The insolvency, administration and sale were all done without the shareholders being informed (apart from the buyer) This left 100 shareholders holding worthless shares in what 12 months earlier was a company valued at £30m with just £70k of debt, with absolutely no return on investment due to the £1,000,000 in debt the directors had put the company into.
If you’re interested in reading the evidence behind how these directors carried out their actions then you can download our evidence pack here https://we.tl/t-WkJgGQSi5W