Tuesday, 6 March 2018

Jam Vehicles file new losses of £80k and are still striving to deliver their Jivr bike



Jivr bikes are almost ready to go. Having raised £160k on Crowdcube in 2013 and the same amount in pre sales on Kickstarter - the long delay is almost over.


In the meantime, the company has just filed accounts to April 17 showing losses of £80k. They would appear to be somewhat short of money unless they are about to raise more cash.

It is not clear from these minimal accounts whether the pre orders have already been paid for or indeed what state the business is really in. Still updates on KS declare that delivery of the bikes promised some years ago are about to start.

What will happen next? 

4 comments:

  1. Hi Rob - any comment on the latest trend for Spanish tech companies pitching on CC for investment? Spotted a couple recentley and the cynic in me is inclined to suggest the UK's ECF platforms are now viewed internationally as very soft touch.

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  2. Maybe but Crowdcube have a Spanish office so this probably explains it. For me investing in a company that is not registered in the UK is more crazy than investing in a company pitching on Crowdcube.

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    1. Legals, accounting rules, distance (£), ethos. Lots of things just make me uneasy buying equity in non UK companies using ECF. Risks are high enough already.

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