Friday, 30 March 2018

Chupamobile have just £10k left on their balance sheet, 3 years after taking £740k off Crowdcube investors



So what is Chupamobile and its 'seasoned entrepreneur' (Crowdcube's description) Stefano Argiolas, doing?



Looking at the latest accounts  - late again - not very much. YE Dec 2016 showed this company making profits of £1.3m in its Crowdcube sales pitch. It's hard to be certain, given the lean information supplied in their latest accounts, but our guess is they made a loss of £95,000.

That was over a year ago. There is no record of them raising money since. In fact their filings at CH are almost exclusively to do with moving filing dates or postponing compulsory strike offs.

£740k is a good sum of money - so where has it gone? Fixed Assets are negligible. We wrote about this company before - here .

Their website is all in $ so maybe they have ended up over there. Any shareholders with some more information , please get in touch. ROI would seem some distance away. It could be even further away if you read their reviews - I dont think I have ever seen so many people calling a business a scam  - see here

Back in 2014 when they raised the £740k on Crowdcube, they told investors that they expected to be bought out in the next '2 to 3 years'. So that would be last year. Well who the hell believes anything these companies say anyway - Crowdcube investors just throw money away because they love doing it. Just so long as they diversify their throwing - some over here and some over there. Give them a bit too. Good job guys - excellent result for GBplc.

Oh and dont forget taxpayers, via EIS, these investors will get 30% of their thrown away money back from your Government. Excellent use of public funds.

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