Otti Prams raised £89k on Crowdcube in 2015. For once ambitions seemed sensible - well for their failed 2016 second raise at any rate. Unfortunately even sensible seems to be beyond them.
More losses for YE Aug 2017 beg the Q - why were they ever on Crowdcube? These latest accounts have one line that reads like a certain death sentence -
' During the period the company carried on trading, selling to House of Fraser and independent shops.' Eggs all in one pram?
We predicted this 2 years ago - http://fantasyequitycrowdfunding.blogspot.com/search?q=+otti+prams
This is a classic small business with zero chance of scaling, so zero chance of a ROI for any investors apart from the owners. It is a fine business for those involved but it really shouldnt be allowed to raise funding from the public using, what seemed sensible but turned out to be, fantasy projections.
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