The idea was to create a global social game where you can win money and prizes. There are many versions of Mowjow. As of today, it is not possible to play. Christensen thinks there will be a version in the spring.
Between 500 and 600 people bought shares worth approximately 12 million. They acquired shares in Mowjow AB (registered in Sweden).
Much of the money passed through one or more companies and then ended up in Christensen's own account.
Mowjow AB was involuntarily dissolved.
Christensen believes shareholders did not lose their money, though. He claims that all those who purchased the shares are still co-owners. But now through what is called nominee ownership. According to the London registry, Mowjow Holding Limited is the sole owner. But Christensen believes the company will hold shares for a long time. According to Christensen, this is because it is difficult to convince the 500 shareholders to create the necessary electronic stock accounts.
This must be clarified through an agreement between the companies. Christensen will not give NRK access to this.
However, what Christensen calls a continuous issuance process has diluted the ownership stake. This means that shareholders' holdings have decreased.
Dozens of companies participate in Mowjow. The companies are headquartered in Norway, Malta, Sweden and London. Many of them have the same name and many of them have been discontinued.
Mowjow was registered on a small stock exchange in Frankfurt in 2011, but was expelled on suspicion of market manipulation. This is according to the Ministry of Economy, Energy, Transport and Housing of the state of Hesse. This was not known to Christensen when we told him.
Mowjow had a gambling license in Malta, but lost it in 2012.
The Norwegian Lottery Authority has twice clarified that a cognitive game with cash prizes cannot be licensed in Norway. Christensen believes that he does not need a license, because there will be a version in Norway without premiums. This is where selling ads becomes most important.
Christensen has made it clear several times that the game could be over in a few months.
Christensen believes he did nothing wrong. He believes he never meant to deceive anyone.
Today, this concept is also marketed as the SuperOne. According to Christensen, this is no longer a money game. Now the game will make money from selling ads.
Here, anyone who wants to buy so-called “tokens” can do so using the cryptocurrency Ethereum. Holders of shares and tokens will receive dividends from the profit, according to Christensen. This type of digital engagement is called a website. Christensen denies that this amounts to selling the company twice.
It is suggested on the website that people who invest in the tokens can get back between 39 and 197 times their stake if they are early. The increase in value will come from more and more people wanting to buy tokens.
Christensen has twenty bankruptcies/forced dissolutions and four bankruptcy quarantines behind him. Many times he was unable to deliver the accounts on time. Christensen admits that's the case, but says he's paid most of his bills.
Christensen is also in conflict with the Swedish Tax Agency, which is demanding millions for unpaid taxes and fees. Christensen rejects this claim and has hired an attorney who has worked for the IRS for many years.
He did not say how much Christensen received in fees. It is believed to be a private matter.
According to Christensen, Mowjow is currently profitable, but he has not provided NRK with any documentation to this effect.
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