Crowdfunder claim to be ahead of projections as they raise more on Crowdcube

Crowdfunder have lust launched what looks like being a successful pitch on Crowdcube for £1m,; valuing the company at £20m or 20 million times net profit. If all goes to plan they hope to double your money in 3 years which given the risks seems a little pathetic to us.

They may well be only the second Crowdcube pitch to return for more cash with the initial projections satisfied - which would be a fine achievement.

We do however have one major issue with the way this and many other Crowdcube pitches present their information. Their YE is September but projections run Jan to Dec, for no good reason we can see. To make this more confusing a small italic note states Forecast begins Oct 15. Glad they cleared that up for us.

These projections show the past 12 months (we assume this is Jan 2015 to Jan 2016 but who really knows) with a balance sheet that has an accrued profit (loss) of £(344,527). If you check the last filed accounts at CH the recorded accrued loss is £(495,417) for YE Sept 2014. So you would expect the company to have made a profit of at least the difference in those months. They declare in the Crowdcube pitch that they made a loss of £45k for YE Oct 2015 (or this might be to Dec 2015?). So you might well ask how does the balance sheet show a figure so far away from the one that it should.

We have not got a clue, but any answers would be helpful. The company may well be on a winning run and you may invest and get your money doubled as they predict but surely it would help if we had all the information in a format that made some sense.