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Mephisto Research Profile picture
@MephistoRes
Nov 5, 2021 • 6 tweets • 4 min read • Read on X
Short nugget on #Cliq Digital: How much of its 2020 revenue is derived from charging (sometimes unaware) people for “premium subscriptions”?
The annual report lists 5 UK subsidiaries with total 2020 revenue of EUR 27.8m. This equals approx. 25% of Cliq’s total 2020 revenues. Image
All these subsidiaries have the same registered address (6 Langdale Ct, Witney OX28 6FG). Located above a dry cleaner, they share the address with an accounting firm: bronsens.co.uk
The UK registry lists >24 thousand companies registered here: …te.company-information.service.gov.uk/search/compani… ImageImage
Only one of the five (Red27 Mobile Ltd.) has any employees at all, 12 to be precise. A quick search reveals that Red27 does not seem to have the best standing with its (involuntary) customers: trustpilot.com/review/red27mo…
google.com/search?q=Red+2… Image
The subsidiaries have multiple subscription services registered at the Irish statutory body for the oversight of premium rate services:
servicechecker.comreg.ie/Find/Index?q=R…
servicechecker.comreg.ie/Find/Index?q=U…
A service by Red27 Mobile Ltd. (“Chillax Games”) is so dubious that a similar named company needed to publicly state Non-Affiliation:
support.red.com/hc/en-us/artic… Image
Stay tuned. Disclosure: We have no position or financial interest in Cliq Digital nor are we compensated for our work.

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More from @MephistoRes

Mephisto Research Profile picture
Dec 18, 2021
Today we publish our first post on #Cliqdigital
We look at the business of its only US subsidiary Netacy Inc. which we believe to be unknown to most and completely unrelated to the business promoted to investors. Find the full text here
mephisto.substack.com/p/cliq
Simultaneously to the formation of Netacy in 2018, CLIQ announced the acquisition of marketing concepts from Hippo Investments LLC. This entity holds trademarks used on various websites targeting people in financial hardship on the search for help, now likely operated by CLIQ. ImageImageImage
Some of the websites refer to netacy.com or the address of CLIQ’s office in the US. ImageImage
Read 6 tweets
Mephisto Research Profile picture
Sep 14, 2021
#NorthernData is quite talkative about its acquisitions. Yet, one acquisition of a related party it did not tell investors is the one of Swiss Hashtrend AG in 2020. A 🧵, respective sources numbered in brackets.
Founded in 2018, Hashtrend (HT) was a crypto-mining venture led by Northern Data’s (ND) current CEO and CTO [1]. HT held a 20% stake in Whinstone at the time it merged with ND in early 2020 through which it became a material shareholder in ND, owning more than 700k shares.[2] Image
HT had a subsidiary, Aliviar GmbH, developing a mining management software Steiger [3]. Steiger seems to be employed until today. Logs of the documentation show that copyright changed from Hashtrend to ND subsidiary Northern Data Software GmbH in Jan 2021
bitbucket.org/steigerapp/ste… Image
Read 12 tweets

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