More results for companies that have used Crowdcube to obtain funding, yet again illustrate that the methods being used provide very poor results.
When 95% of something continuously indicates that the something is not working, surely it is time for a change? Well apparently not, as Crowdcube continue to operate their flawed model; propped up as it is by fake news PR which is then regurgitated verbatim by independent bodies like Beauhurst and Crowdfund Insider as fact - see earlier posts. Beauhurst have now changed their article replacing 'exit' with 'aquisition' and acknowledged our verification of the facts - shame they are not honest enough to give us a credit. They have also taken down all their 'research' into other ECF exits etc. We are happy to help but hope they dont just reprint Crowdcube PR again.
Here are some more examples for the months of June and July -
Crowdcube - projected £3.7m profit Filed loss - £4.7m
Grub Club - investors lost all their money in an asset fire sale. Called an exit by Crowdcube.
Crowdfunder - projected loss £150k. Filed loss £500k
Birdsong - projected loss £20k. Filed loss £70k
Floodkit - projected profit £589k. Filed loss 50k
Fourex - projected profit £2.3m. Filed loss £1.4m
Good Egg - projected profit £209k. Filed loss £70k
Health Connected - projected profit £3.6m. Filed loss £70k
Cauli Rice - projectd profit £93k. Filed loss £960k
Tempus Energy - projected profit £6.5m. Filed loss £360k
ISO Spaces - projected profit £2.6m. Filed loss £250k
Shopwave - projectd profit £2m. Filed profit £89k
Circuitree - sadly closing down due to illness of founder. We wish him well in his fight.
Teachpitch - projected loss £53k. Filed loss £80k
This is an illustrative, not an exhaustive, list. We have not included Brewdog as they are covered in a separate article on here. The only company we can find that recently filed accounts and is ahead of projections is Hopstuff and those were new projections - their original ones were a joke. Missing targets does not mean its curtains for the company but our records show that a combination of missing targets, late filing and other failings (ie SM inactivity, lack of new stockists, poor reviews, no app etc) suggests a struggling company. Very few of these for which we have figures, get turned around.
The following companies are late filing -
Faction Collective - havent filed since YE 15. French run a different accounts system.
Easy Property and E-Prop (moved date to Sept 18).
We are pretty sure that at some stage this particular merry go round will explode.