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Wednesday, 10 July 2019

ECF.Buzz is launching on 10th July 2019 - things will never be the same again!

10th July - the very same day Lady Godiva, The Countess of Mercia, rode naked through the streets of Coventry. That is the date for the launch of our new Equity Crowdfunding site ECF.Buzz. 

The two are not necessarily related. However as with Godiva, we are attempting to break the status quo and improve what is a hapless situation. Luckily for everyone, Im keeping my clothes on. And whereas her story is myth, ours is for real. 

This blog will be moving - to the new site. At ECF.Buzz everyone will have free access to the latest  blog posts but the archive will be kept for members. That along with the host of other great facilities we are offering - all of which are aimed at helping investors make better, more informed decisions. In this way we hope to improve the level of businesses being funded and eventually force the platforms to improve the offers they present. All round, this will improve Equity Crowdfunding. 

And from what we are being told, this is long overdue. It is time for Investors to take back control. 

Reasons to join Our Crowd

  • Independent Forum for knowledge transfer without interference from the platforms.
  • Huge knowledge resource on all things to do with investing in start ups.
  • Experts opinions and articles.
  • Company Tracker - our very own record of 1300 ECF funded companies 
  • Buzz Rating - our bespoke, handmade, analysis of funded pitches and how they are doing. 
  • MyTracker - get your very own personal service to help you keep tabs on your investments
  • The now almost famous Blog
  • Latest News on the sector.
  • ROI & RIP - definitive lists of companies that have made a return for investors and those that have failed. This will be accurate - unlike data on say Crunchbase, which is almost all faulty.  
So what do you say -  lets all get our kit off and celebrate the 10th July 2019. 
Go Diva!! Go Buzz!!

Saturday, 6 July 2019

Another Crowdcube Zombie calls it a day - Workabode liquidates after raising twice on the FCA regulated platform

Founder Trevor O'Hara is a cracker - he's from Ireland. This is not a story of a near miss or bad luck. It's not even a joke. No, this is a story about nonsense, about promoting £21m of net profit, rising to £35m next year and delivering liquidation. It is not a story anyone would wish to see repeated. 

Trevor sent his shareholders a short communique stating that for reasons outside of his control he had to close the business. In plain English - I have spent all the money and now the bank account is dry, it's time to go and do something else. Nowhere in this pathetic excuse of an email does he attempt to apologies or recognise his own failure. 

He used Crowdcube twice to raise a total of £380k in 2014 and 2015. The business has been in the waiting room ever since. Meanwhile, Trevor has been evangelising about how to make great businesses. 

He is under the allusion that the way you scrap a UK business  - one registered at CH - is by creating an official looking document in Word and heading it - Notice of Company Dissolution. You then include phrases like  - ' Notice is hereby Given .........' and that is that. Trevor, that may be the Irish way but it wont work here. Shareholders would be advised to act now to see if there is any money they can get back from Trevor. Or indeed from Crowdcube if the pitch was in anyway misleading - £35m net profits!! ECF.Buzz has advice on all of this. Investors need to take back control.  

We wrote about this nonsense before here - he threatened to come after us! Looks like we were right - or more correctly, he was certainly wrong. You get them and they are best avoided. Now he is logged in, all ECF Buzz members can do that. Our Buzz Rating for this one has been spot on - Zombie waiting to go down. Goodbye and please dont come back.  

Friday, 5 July 2019

BeerBods sells out to ABV

Beerbods raised a total of £400k on Crowdcube in two rounds. Now Matt Lane has sold the business to Beer Hawk, recently acquired by ABV incubator ZX Ventures. 

This is exactly the sort of transaction that will make equity crowdfunding work; if it gives investors in BeerBods a return. Lane admits that the sale is forced - ie it's the only option if the company wants to make any immediate headway.

No figures have been disclosed although shareholders will know shortly. In the first round Beerbods was valued at around £400k and then a year later at £2.5m post money. So looks like the 101 first rounders will see a healthy uplift. Not so sure about the others. Accounts show a loss for the year to May18 of £80k.

Lets us know if you know.

Monday, 1 July 2019

A Suit that Fits now doesnt. Liquidation beckons.

After a somewhat bizarre failed rescue attempt, DKSG Bespoke, ASTF's and any other associated companies are heading for the chopper. 

Crowdcube investors who were asked to find £50k to support a new attempt to buy out the on line tailor, appear to have chosen not to. In the circumstances, a wise choice. No doubt the administration/liquidation will shed some light on the very odd goings on. 


The following day - Resurrection? 

We have now seen a new email sent to investors from the Indian side of this saga - Rohinton Mistry's A Fine Balance has fewer threads. He claims that he is the good guy and that he will deliver an end result for investors - but with no return for himself. Pretty much what the other guy promised. Remind you of any lies over our current undeliverable quagmire? It was ever thus.