In April 2006, Ofotbanen declared that they were in severe financial difficulties. Accounts payable were giving liquidity problems, and Ofotbanen announced that they needed more capital, estimated at NOK 8 million. GB Group said they were not willing to invest more money in the railway company. Ofotbanen had then been losing money continually since the start-up in 2001; in 2004, it had a deficit of NOK 4 million of a NOK 20 million revenue. At the extraordinary general meeting on 4 September 2006, the company was sold for NOK 1 million to Rail Management, a holding company for the London-based shipping owner Mons Bolin. In November, the Norwegian Rail Inspectorate threatened to withdraw the company's safety license, since they had failed to show proper maintenance of the rolling stock.