Saturday, 10 December 2016

GoCarShare thinks about calling it day

GoCarShare has raised equity finance on Seedrs twice - in 2013 and 2014. 

Now the company has written to shareholders to say that things are not quite going to plan - or to read between the lines they are not making money. Or rather they have lost it all.

Its quite an upbeat communication talking about two potential offers to take the business forward. You feel quite sympathetic reading it - here are some guys trying to do the right thing for the planet and mankind whilst also running a business.

However the sympathy bakes tinder dry, when you realise that they are well overdue with their 2015 accounts. So running a company is clearly not what they are doing. And they shouldnt have had access to equity crowdfunding finance. Their 'plan' has evidently been a flop.

In the great Seedrs Portfolio Report, we wonder where these guys appear in the graphic - doing well most probably. Well it just reiterates the pointlessness of the whole charade  - they are not doing well or even hanging on - they are waiting to close. The CEO has been forced to take on another job - thats how well they are doing.

Get the basics right first guys - do your accounts and file them on time. Then you might have an ear. 

1 comment:

  1. Let's hope that they don't do a dine in and reject a perfectly good offer...