Thursday, 12 January 2017

Angelberry aims high and shoots low - like most Crowdcube successes

This is now the new norm - fantastical projections met head on by sober realities for Crowdcube investors.

This company raised £200k on Crowdcube in 2014. Its still functioning but has failed to get anywhere near to the revenues and profits its fantasy projections sold to the Crowdcube investors. 

Accounts for 2014 and just over half of 2015 (the date was changed for some reason) show heavy accumulated losses of £350k against projected profits estimated at £300k plus. Promised deals with units in Africa and the ME (in the pitch there were over 50 contractual commitments quoted) have come to nout.

We wrote to them to ask politely why they were so far off their targets. We had no response.

In one of the more ludicrous Crowdcube moments, their pitch talks about a possible exit in Q1 of 2017 at 8.5 times earnings ie according to the fantasy projections that would bring in £14.5m anytime now. 

More Trumponics. No really these guys are great - Im telling you. Really really great. Dont believe the fake figures at CH. 

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