Syndicate Room raise their own funding

So here we are - Syndicate Room have raised £2.6m of their £2.3m target. On Syndicate Room.

What are we to make of this?

We have a VC investor putting in £1m and turning around the enhanced due diligence its investment criteria stipulates in just 24 hours - according to the site. Some achievement for both SR and Unicorn AIM VCT's.

For some reason SR are not allowed (again from the site) to publish financial data on their pitch. So questions about profitability go unanswered. You can be sure that SR is not in profit - none of the ECf platforms are.

So a valuation of £25m now must be based on what?

Maybe the new development that they are so keen on  - their launch into IPO's. But then the attempts to actually get involved in IPO's to date have been flops. So it cant be that. Must be a belief that they can deliver what so far has been undeliverable -  a large ROI.

I like their Salty the Movie pitch best. How long does it take to make a film? Still waiting for news on this one!

220 investors clearly believe they can.

Salty Film in production

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Further to our last post on Simon West's film Salty.

Harry Stourton, who is in charge of the production, has confirmed that West's resignation from Salty Ltd is standard industry practice now the film is in production. See Q&A on the last post for full text.

West is going to be busy with this film, already delayed and the launch this month of his long running saga with Thunder Run, which dates back to 2012. Maybe some news on the website would help?

Still it is good for investors, who can sleep easy in the knowledge that their £2.3m investment is about to see some Lights, Camera, Action.

Simon West resigns for Salty Ltd - which raised 2.3m on Syndicate Room.

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Back in the Spring of 2015, Simon West, the film director behind blockbusters like Tomb Raider and ConAir, raised £2.3m in equity crowdfunding on the ECf platform, Syndicate Room. This was to make a new film entitled Salty.

The vehicle used to raise this money and to make the film was called Salty Ltd -  a company where West was one of the directors and a shareholder. Their website has gone a little cold - latest news dated in the summer of 2015 - http://www.saltymovie.com/index.html No news on the web about the film that we could find and certainly no film.

Syndicate Room described the set up - The company Salty Film Ltd will coordinate the production of Salty with West at the helm as lead director/producer.

What is interesting is the fact that West resigned from Salty Ltd on the 18th January this year and incorporated a new company a few days later, called Simon West Films Ltd. He is this company's sole shareholder and sole director.

The film has a signed deal with Carnaby for distribution and West had brought his production team from ConAir and Tomb Raider.

We have asked for some clarification on what this means for the film, if anything but have, as yet, had no response. It does seem slightly odd that the central figure in all of this, the famous director, is no longer part of the project that 145 film enthusiasts put £2.3m into, less than a year ago.

This was originally billed as an adventure comedy, we hope it isnt going to turn into a disaster movie.