Dozens of trademarks and trademark applications related to Moshi Monsters were used to secure a £6.5m loan with start-up lender TriplePoint in the summer of 2014, documents filed at Companies House show.
Mind Candy, once seen as a darling of the UK’s tech scene, is due to start repaying the loan this summer, but is seeking to delay payments as it struggles with mounting losses.
The Moshi Monsters sensation has waned in popularity amid the shift from computers to mobile and tablet games, and a second franchise, Warriors, has failed to gain traction.
Earlier this year, it emerged that Mind Candy was in negotiations with TriplePoint about pushing back its loan repayments after announcing a loss of more than £14m in 2014.
The loan agreement essentially gives the lender the rights to the Moshi Monsters name and logo should Mind Candy fail to repay the loan. Michael Acton Smith (pictured above), Mind Candy’s founder and chairman, said it had a good relationship with TriplePoint.
