Cgon raised £157k in 2014 from Crowdcube investors. It makes and supplies a converter for car and lorry engines. Now all of its directors have left the bridge and a new one installed this year is the sole active name at CH.
Founders do not normally leave a successful venture. Well not until they have cashed up.
We have written about them before here
Accounts are due out next month; the last set left the company in deficit. Those slightly disappointing results showed a loss of £160k against a Crowdcube projection of a £14m profit. Still, as Crowdcube keep reminding us, you have to allow for variances in these projections.
We may need a new definition for the term Entrepreneur.