IQ-AI Regulatory News (IQAI)

5 April 2016

Flying Brands Limited

 ("Flying Brands" or the "Company")

Update

The Directors of Flying Brands recently became aware of fraudulent internet activity on Flying Brand's bank account, involving a potential maximum loss of £78,000. The circumstances are being investigated by the bank and the police in Jersey. However, it is likely that most of these funds will not be recovered.

Following this loss, the Company's cash position is £222,932. The directors consider that these funds are sufficient for working capital purposes and to enable the board to continue to undertake discussions on potential transactions.

For further information, contact:

Flying Brands Limited

Trevor Brown / Qu Li

Tel: 0207 469 0930