Gin up lads, results are not everything.

The London Distillery Company raised money on Crowdcube back in 2011/12. Its subsiduary Dodd's Gin is attempting to raise £1.5m here -  https://doddsgin.myedash.com/deals/583 at a pre money valuation of £8m - this is a pre sales and profit business 98% owned by LDC.

So LDC - how have they done since 2012? Accounts for YE March 2015 are due out end December, but the previous two years have not been good - large losses against projected b/e. Sales are clearly not going to plan. We wonder why LDC has not simply joined the ranks of past Crowdcube businesses who have run out of money and come back for more? Maybe they figured they would get a hostile reception.

The artisan drinks sector is heaving with wanttobes. We were involved in a Gin tasting only a year or so ago and the number of alternative small producers was staggering - LDC was not even there. Breaking into this sector is not easy as LDC have clearly found.

Dodd's accounts show no sales to date and the idea behind this raise is to promote the new brand. Thats fine but how do you get a value of £8m pre revenue?

This raise is not eligible for any EIS tax relief as Dodd's is a subsiduary co. Makes you wonder why they havent put this in with a LDC raise which would have been EIS. We wonder how the crowd investors in LDC feel about havving one of their products diluted in this way. 

Our advice is try the free gin they are offering at their pop up at 26 Greek St Soho and wait for the results of the parent company LDC to come out. We find it very hard to believe that these results will enthuse you buy into Dodd's but at least you will be armed with real information.  Had they been good results we are sure they would have brought them forward.