Friday, 2 October 2015
Southern Dreams shows more losses
Southern Dreams raised money on Crowdcube in 2012. It 'specialises' in trading in South America and persuaded punters that with the World Cup and the Olympics both coming to Brazil, this was the time to jump in. We can think of few things it specialises in but trading is not one of them.
Well the WC came and went and the company managed to complete no business - that's none. In fact it would be fair to say that the company hasnt completed any business since 2012, anywhere. Latest accounts are out, confirming this with almost zero activity.
Despite repeated attempts by shareholders to get the company to change its way of working, they have consistently refused, with the net result that nothing has been achieved. Promises have been liberally emailed showing grand schemes with weighty bottom lines but they all disappear like the morning dew. It has a Darien ring about it.
The good news is that it hasnt closed.