GAME OVER | Day 22: The Trap Backfires
Kromann Reumert’s own email proves they coordinate with Shape’s service providers. EIFO gets the olive branch. The CEO fires back.
Shape Robotics Live | March 27, 2026
Kromann Reumert’s own email proves they coordinate with Shape’s service providers. EIFO gets the olive branch. The CEO fires back.
Day 22 since the bankruptcy was unanimously annulled by three High Court judges. Twenty-two days of silence from the former trustee. Twenty-two days of no documents returned. Twenty-two days of DKK 3,722,813.18 sitting in an unauthorized escrow account.
And today, Kromann Reumert handed us evidence we could not have manufactured if we tried.
Today we published a company announcement extending a formal settlement offer to EIFO — Denmark’s export and investment fund. Let me be direct about why.
EIFO is a state institution. A governmental agency with a public mandate. Whatever happened between Shape Robotics, Danske Bank, and Kromann Reumert — EIFO should not be caught in the crossfire of a corporate battle it did not start.
The offer is straightforward:
1. Prompt release of arrested funds from the escrow account
2. Full repayment on the first withdrawal from the IRIS equity line
EIFO can get their money directly from IRIS. It is a decent proposal. It expires on Good Friday — April 3, 2026.
The negligence claims — and there are negligence claims — go against the former board of directors. Not EIFO. The board under Chairman Jeppe Frandsen and CEO André Fehrn executed the uplisting to Nasdaq Copenhagen Main Market in November 2023 without verifying whether a main market listing would trigger the withdrawal of EIFO’s guarantee support. That is on the board. That is not on the state agency.
EIFO does not need to be in this fight. We are opening the door for them to walk out.
At 01:48 PM today, I received an email from Homa Rahbar Pakdel, Senior Associate at Kromann Reumert. The email was CC’d to Zacco personnel — the IP service provider retained and paid by Shape Robotics.
Let me share the relevant passage:
Zacco has informed us that they are withdrawing as representatives of Shape Robotics A/S’ IP portfolio... Please note that IP rights of Shape Robotics are subject to a floating charge in favour of Danske Bank and EIFO. This charge has been acceded by the pledgees on 30 October 2025, and accordingly no disposition of the assets might be made without the express consent of the pledgees acting through us as their representatives.
Read it again. Slowly.
On what legal basis is Kromann Reumert in communication with Zacco Denmark A/S?
Zacco is retained and paid by Shape Robotics. Kromann Reumert represents creditors. There is no estate. There is no trustee. There is no mandate. Proceedings were adjourned for five months on 20 March 2026.
Yet Zacco informed Kromann Reumert before informing the CEO. Kromann Reumert CC’d Zacco on threatening correspondence to me. Their own email is the proof of unauthorized coordination with the company’s private service providers.
As we documented in Day 18 — every entity that fails to act does so at its own risk. Every document withheld, every email unanswered, compounds the damages.
Here is the reply. I sent it to every partner at Kromann Reumert:
Thank you for your email. It is genuinely appreciated — not for its legal merit, which is nil, but because it is written proof of Kromann Reumert coordinating with Shape Robotics’ private service providers without authorization. We will be using it.
On what legal basis is Kromann Reumert in communication with Zacco Denmark A/S? Zacco is retained and paid by Shape Robotics. Your firm represents creditors. There is no estate, no trustee, no mandate. Proceedings adjourned five months on 20 March 2026. Zero legal basis for your firm to coordinate with Zacco.
Yet Zacco informed you before informing the CEO. You CC’d Zacco on threatening correspondence to me. Your own email is the proof of unauthorized coordination.
The demands are clear: return the company’s property within 48 hours. Produce the charge registration documentation or admit no valid charge exists. Cease all contact with Shape Robotics’ service providers without CEO consent.
Zacco’s False Statements to Patent Agents Worldwide
On the same day as Kromann Reumert’s threatening email — and I do not believe in coincidences — Zebastian Nordhj of Zacco emailed patent agents globally, including Dr. Udo Weigelt at Grünecker Munich, stating Shape Robotics is “currently undergoing legal reconstruction.”
False. Without CEO authorization. Sent the same day as Kromann Reumert’s email.
Nordhj confirmed: “We have sent out emails to the agents for all open cases.” Every patent agent in every jurisdiction received this false narrative about the company’s legal status.
Shape Robotics is not undergoing legal reconstruction. The sole adjudicated bankruptcy was unanimously annulled on March 5. The renewed proceedings have been adjourned for five months. The company is operational. The CEO is sole authority.
Dr. Weigelt’s response tells you everything you need to know: “We will not become active until instructed directly by Mark.”
Even third-party patent agents in Munich can see what Kromann Reumert and Zacco apparently cannot — there is one CEO, and he has not authorized anything.
The Floating Charges: You Have Absolutely Zero
The IP portfolio of Shape Robotics was valued at zero by the former trustee in Creditor Information No. 2 on 26 January 2026. All subsidiary book values — DKK 199,000,000 — written to zero in 59 days. The IP? Zero.
Now, suddenly, the same IP is precious enough for Kromann Reumert to claim floating charges and threaten the CEO over it. Decide: is it zero or not?
A floating charge is not an automatic lien. It requires court enforcement. It requires registration. It requires someone with authority to exercise accession under a valid instrument.
The charges were purportedly established under the Afviklingsaftale — a wind-down agreement signed by André Fehrn, who served as Chairman (bestyrelsesformand) until his departure in December 2025. That agreement is contested void under Aftaleloven §30, §33, and §36.
The 48-hour ultimatum is clear:
1. Produce registration documentation — numbers, authority, certified copies. An email is not a charge.
2. Identify who exercised accession and under what instrument.
3. Provide the legal basis for coordinating with the debtor’s IP service provider.
No production within 48 hours equals admission that no valid charge exists.
I know what we are talking about, and they have absolutely zero.
The EIFO Truth: September 2024 Email Proves It
There is a narrative circulating on forums and anonymous accounts that I hid the EIFO situation from investors, that I failed to disclose material information. Let me put this to rest with a document. Not an opinion. A document.
On September 29, 2024, Jeppe Frandsen — then Chairman of the Board of Directors — sent the following email to the board, including me:
Hi all, I had a call with Henrik from EIFO. They will send us an email as follow up from the meeting with DB. According to Henrik we have a chance to continue the partnership with EIFO if we establish a operational subsidiary managing the Danish/Nordic business and if this subsidiary is legally attached to the mother company who then is listed on the main market. It does not make any difference whether the mother company is a holding or an AS (limited liability company). This way EIFO believes they can avoid the EU main market listed company rules. Of course, EIFO will look at liquidity and security of the Danish subsidiary if EIFO should provide credit facilities. We will also need to have a Danish bank as part of the cooperation with EIFO. When we have the e-mail and explanations from EIFO we can discuss this among us and then set up a meeting with EIFO if we still want to discuss how to utilize the EIFO facilities. Many regards, Jeppe
This email is attached as the EIFO Annex. What does it prove?
1. In September 2024, EIFO was still negotiating. There was no formal termination.
2. EIFO itself believed the GBER exemption for digital transformation companies could apply.
3. The partnership was work in progress — not a closed matter.
4. Formal termination did not occur until November 2025.
Under MAR — the EU Market Abuse Regulation — you cannot disclose to the market something that is not final. We were actively discussing solutions with EIFO. We had an approved budget of EUR 28 million in convertible loans for November 2025 to replace the EIFO facility. The board had a plan. Carnegie’s market manipulation disrupted everything.
We correctly informed the market about the loss of EIFO support the moment it became final. Not before. Because that is what the law requires.
The GBER regulation (EU Commission Regulation 651/2014) explicitly allows state AIFs to continue funding main-market-listed companies in two cases: digital transformation companies and ESG/green energy companies. Shape Robotics is, and has always been, a digital transformation company.
The board in 2023 should have applied for this exemption before the uplisting. They did not. That is the negligence claim. That is why it goes against the former board — not EIFO.
The EGM and the Future
The Extraordinary General Meeting is confirmed for 14 April 2026. Two board candidates have been announced:
Kim Okola — Finnish, business development specialist with expertise in governmental and sensitive areas. Lives in Dubai. Brings Middle East market expertise and, critically, Finnish legal and commercial connections for the Sanako recovery.
Alexandru Ambrozie — One of the most esteemed white collar crimes and litigation specialists in Central Eastern Europe. PNSA Romania. Templeton Fund background. He knows how to navigate the waters we are swimming in — because the next twelve months are a legal fight, and the board must reflect that reality.
As we documented in Day 19 — the board needs legal specialists, not corporate optimists.
The headquarters problem is solved. New registered address: Vesterbrogade 74, 1620 Copenhagen V. The Erhvervsstyrelsen deadline was today. We met it.
Phase Education AS provides the operational base. Shape Robotics as you knew it is gone. It died under 59 days of unlawful trusteeship. What is being built now — through Phase Education, through the EGM, through every legal filing and every company announcement — is a new chapter. One where the shareholders are informed every single night, the CEO answers every question live, and the documents speak for themselves.
Day 22 Summary
What was achieved today:
- Company announcement published extending settlement offer to EIFO — olive branch, not a sword
- Kromann Reumert’s email obtained and preserved as evidence of unauthorized back-channel coordination with Shape’s IP service provider
- Full reply sent to all KR partners demanding return of company property, charge documentation, and cessation of third-party contact
- Zacco’s false statements to global patent agents identified and documented
- 48-hour ultimatum issued on floating charges — produce or withdraw
- EIFO September 2024 email published as proof that the partnership was still being negotiated
- Headquarters deadline met — Vesterbrogade 74, Copenhagen
- Board candidates publicly confirmed for the 14 April EGM
What comes Monday:
- 48-hour deadline expires for Kromann Reumert charge documentation
- EGM preparations continue
- Bailiff court proceedings advance
- The war continues
We had zero value twenty-two days ago. Right now there is a chance to have some value. I cannot guarantee anything — but I can guarantee we are on the same side of the front.
War continues. War is the normal state of a human being. Peace is not the normal one.
Mark Robert Abraham
CEO & Sole Director, Shape Robotics A/S
March 27, 2026
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GAME OVER | Day 22
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