The one thing you can say about One Rebel is that they are consistent. Late sure, but they never fail to deliver losses for their Crowdcube investors.
As always with the type of accounts UK companies are allowed to get away with, its hard to see whats wrong here. Losses of around £650k are added to their accrued losses. From comments, they dont bother to communicate much with the Crowd who have funded them to the tune of £4.5m in two Crowdcube campaigns in 2014 and 2015.
However it is not all bad news - the company now has 4 studios. That's progress. When they last appeared on Crowdcube at the end of 2015, they had two.
Of course it would be foolish to think that this progress in any way reflects the promises made in that campaign. Profits of well over £1m were destined for 2016 in 2014 and even the later raise had profits of over £200k for the period. The 2015 raise was a down round for Crowdcube punters - so a double whammy for dilution.
Im told these guys really know what they are doing. So if the person who told me that knows what he is doing, all should be fine. The numbers for 2017 will already be known by the management - we have to wait until September or more likely well into 2019 given their track record. A very Happy Exit was forecast for 2020. Here's to happy exits.