‘Superior’ mobile company goes bust as ATO chases cash
A 'SUPERIOR' app development company has been put into liquidation owing the Australian Tax Office tens of thousands of dollars.
With bases in Toowoomba, Brisbane and the Sunshine Coast The App Team Pty Ltd was put under the control of liquidators Mark Pearce and Michael Dullaway last month.
According to its website the The App Team is "Australia's superior mobile application development company" which offers services that "bring together world-class design and impressive functionality that make people more connected and productive".
The Australian Tax Office is owed $72,000 by The App Team and WeWork is owed $9279 for the company's Brisbane office lease.
The App Team is owed $8883 from four companies and lists $19,611 in assets, mainly Apple products.
It notes several computers for its "Vietnam team" have already been sold.
The App Team does not owe money to its handful of employees.
Registered in 2012, the company rode the wave of mobile applications, promising customers they would help transform their ideas "into functional and scalable technology solutions".
Its customers included Cover More travel insurance and Track My Fish.
In his first report on the company Mr Dullaway noted a $67,420 deficiency in money owed to creditors compared to its assets and cash in the bank.
"There is no likelihood of a dividend being paid to the company's creditors, however, I will notify creditors in the event that the position changes as a result of my further investigations," he wrote.
In October dozens of businesses were placed into liquidation.