Tuesday, 20 October 2015
NewGalexy Services file £300k loss
These major discrepancies aside, they have joined the ever increasing band of companies that have filed accounts which bear no resemblance to the projections used to sell the equity - the projections which were so carefully and thoughtfully vetted by the Crowdcube out to lunch department.
So NewGalexy at YE Oct 2014 (the accounts were several months late) show a pretty sorry picture. Projected profits for this period were over £200k, actual losses were £290k. The company has no cash and owes stacks. It is being kept afloat by the directors.
We wish we could bring you some good news of Crowdcube pitches that have at the very least managed to get close to their projections but we cant. Maybe that is a function of the Crowdcube model - like night following day.