Galaxkey Limited and Galaxkey Leap Limited are companies registered in England and Wales and are wholly owned subsidiaries of Galaxkey Global Holdings Limited, a company registered in Jersey, Channel Islands.
While Galaxkey Limited is engaged in the research, development and production of encryption software, Galaxkey Leap Limited is responsible for the marketing and sale of the product. Galaxkey Limited were paid for the supply of software and provision of software support services at market rate determined on arms length basis.
The company also received amounts from group companies, as detailed below, in order to meet the working capital requirements. These amounts are interest free and repayable on demand.
- Loan from Galaxkey Global Holdings Limited, Jersey £150,499
- Loan from Galaxkey Limited, UK £12,619