Lawbit T/A Lawbite, the online law experts, who raised £400k on Crowdcube in 2013 and another £170k in 2014, have filed new losses for YE May 2016 - against what were their Crowdcube projected profits for YE November 2016 of £3.7m.
Still they have managed to raise another tranche of capital which should see them through another year.
If its not going to work after 4 years and £1m of losses, then when is it going to work? 2017 of course. Losses for the last year at £120k, are smaller then previous years, so just maybe this company has turned a corner. However nothing can hide the embarrassment about their projections.