We had hoped a break would bring some change but alas same old same old. GamesGrabr latest Crowdcube pitch is a great illustration of why Crowdcube will never work.
Looking at the new Grabr pitch on Crowdcube, the platform has very kindly given us a comparison against the last raise. It makes for interesting reading and explains why the pitch has failed so far to get any backing.
Forced to try this new honesty, Crowdcube is trying to fit a square peg into a round hole. Its seems pretty obvious that projections showing 12 months revenue of over £400k which turn out to be around only £65k in reality, will not encourage enthusiasm in the management or their new, massively diluted plans. Halfway through their pitch and 15 investors have manged to hand over a meagre £1,420; despite the pitch highlighting a GOLD BADGE from Crowdrating ((: and using indirect quotes about the industry as if they are about their business.
Idleman - funded via both Crowdcube and Syndicate Room, posted healthy losses of £1.8m against projected losses of £1.3m.
Angel Alerts, by its own 2013 Crowdcube predictions now looking for an IPO or trade sale, posted a £7k profit on very small trading. Still at least they actually made some money which is very rare here.
Oh and while we were away the good news that Hybrid Air's Airlander had at last flown, turned into bad news as the airship crash landed. OOOPS.
September has some very large and juicy accounts to be filed - so dont go far. We may even find some good news!!!
