Thursday, 3 May 2018

Locovo files accounts showing little activity and most of the money gone

Same old story. Evidence that investing via Crowdcube is a nonsense, just keeps on mounting.

Local Vets is a website. Its run by Locovo who raised £49k off Crowdcube investors in 2016.

Accounts for YE July 2017 show very little activity and almost all of that investment gone. Losses appear to be in the £40k range.

They have 68 followers on FB, which for a business backed by £50k equity capital, has to be a record. 

They printed a magazine via Issuu. Well they printed one edition in 2016, nothing since. 

It clearly hasnt worked so far. Maybe 2018 is their year.

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