Saturday, 19 September 2015
Unquoted, unreliable, unbelievable
Unquoted is offering 75% of its equity for £100,000. No really. They are asking for 500 investors to put in £200 each for B shares in their not quite new investors information platform for ECF.
Before you all jump in like mad things, just check out the history of Unquoted and its directors. No not the one they give you, the real one.
How is this firstly eligible for SEIS - in other words of the £200 you invest you get £100 back from HMRC instantly you fill in your next tax return - so essentially we are all paying half of what you invest via tax deficits.
Secondly given the record of the directors, how is this all sanctioned by the FCA - unless this now stands for Falling Calmly Asleep. According to Unquoted's site they have 93 investors but there is no way of checking this - it could be pure fiction to entice the lemmings - ie you lot.
In answer to the question above - VERY Stupid.
Unquoted have now announced they will be ending their ECF campaign early - in truth it's ending because only a few fools backed it. They will be raising their capital via a French site who one supposes are not regulated by the FCA.