Fanmade Services raised £224k on Crowdcube in 2014. Now with a website that says it has expired and an app, Sporting Mouth, that we couldnt find, the company has filed accounts for YE Feb18 stating they didnt trade. That is a lot that isnt happening.
The accounts show the money is all but gone and that one of the few activities for the year was a partial repayment of a director's loan.
This result for a Crowdcube funded company is particularly pertinent right now. Coming as it does at the same time as Luke Lang from Crowdcube has been telling everyone that their selection of businesses is far superior to any other ECF platform. Right.
This giant is asleep but not dead. It does make you wonder though, that a company can take this size of investment and then file dormant accounts. It has no fixed assets.
Maybe if we all shout WAKE UP that would get him moving again?