Grubklub raised £290k on Crowdcube in 2015. The latest accounts, filed 4 months late, show further large large losses against projected profits.
It is getting quite hard to make the same story sound interesting. But here goes.
We wrote a short piece about these guys and their creative use of figures here
Grubklub were supposed to making profits of around £210k for their last filed year. Instead they reported losses of £175k. Further equity raises have caused dilution.
At some stage we suppose that Crowdcube investors will add 2 and 2 together and get 4 instead of £10m each.