Friday, February 15, 2019

Mars One Declared Bankrupt

Mars One CEO Bas Lansdorp

Mars One Ventures AG, the commercial arm of the overall Mars One effort, was liquidated in a January 15 case in a civil court in the Swiss canton of Basel-Stadt, according to a January 16 filing by the canton’s commercial register. The filing was first publicized February 10 on Reddit.

On February 5, the Court of Appeal of the Swiss canton Basel-Stadt confirmed that the Swiss corporation Mars One Ventures AG, one company of the Mars One group, is in administration. The company has a thirty day window to reverse the administration process.

Mars One CEO Bas Lansdorp emphasized that the related entity the Mars One Foundation is not affected by this procedure.

Trading of the shares of Mars One Ventures AG, listed on the Frankfurt Stock Exchange, was suspended for non-compliance with the FSE regulations when the number of shares was increased in 2017. The company was on its way to correct these compliance problems for the resumption of trading of the shares; these efforts were upended by the current situation.

During the last few months, discussions have been held with a new investment company. The goal of the investor and Mars One is to achieve either a reversal of the administration or a restart based on a financial agreement with the liquidator.

The total debts of Mars One amount to CHF 1.1 million (approximately € 1 million). The investment company has expressed its intention to reach an agreement with all creditors.

Mars One announced Tuesday that it's in talks with 'a new investment company' that may be able to rescue it from insolvency. 

The announcement doesn't state who Mars One's mystery investor is, but says the investor will make its plans public at a press conference on March 6.

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