Monday, 8 October 2018

Ginx TV files losses of £1.77m - time to change channel?

Crowdcube investors gave Ginx TV £579k in 2016. The company also took in investment from Sky that year.

It appears that the Sky money bought considerably more than the money from Crowdcube investors.

But in the end, what is has all bought so far is, not much. The filed accounts speak about 'almost' signed contracts that will come into play for 2018 and beyond and new funding that will be on the books. Well the new funding has not yet materialised at CH and we just dont know about those contracts.

What we do know is that the company's own estimation of its YE Dec17 profits, in 2016, was a profit of £634k. The real accounts just filed show a loss of £1.77m 

Oh well. Who ever believed their projections anyway. This is just telly after all. 

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