Friday, 3 August 2018

Righteous continues to make losses and is now in deficit.

Righteous raised twice on Crowdcube. They promised the earth and delivered nout. Jam tomorrow contracts that disappeared and sales figures that were mere dreams have left this once Crowdcube sensation, in ruins. 

Well that is one way of looking at it. Alternatively you could say that the couple who worked their socks off to make this venture go, had their heads turned at a crucial juncture by another venture, now called Full Green aka Cauli Rice. No doubt about their work ethic but there has to be considerable doubt about their ability. 

At a crucial time for Righteous, they decided to set up this new venture. Full Green is trading but has not got close to the promises made.....yet. Expansion in the US is critical.

Back to Righteous. Whats next? Closure most likely or a fire sale. Shareholders were at least given the option to exchange their shares for ones in Full Green - which is an honest and decent approach you dont see very often in this space. 

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