Another Crowdcube success story melts away as Fantoo goes into administration

Reasons given for this failure included the fact that the product Fantoo were selling was never completed. Bridging that gap!

Jordan Fantoo, the founder talked a great game. We had this down as a very long shot - we simply didnt believe him. He was how do you say....full of it. Like this from 2014 Start Ups - 

https://startups.co.uk/crowdfunding-success-stories-fantoo/

Despite some interest from Dell in 2016 - possibly exaggerated - new funding could not be found. The admin boys are apparently talking to a buyer. Wonder who?

Total equity invested £2.2m. Angels Den were also involved at some stage. 

Spring normally brings a Chirp or two - not this year.

Chirp have filed what shareholders who invested via Crowdcube and Angels Den, must consider disappointing results for YE June18. A loss of £1.59m against a projected profit. 

It is not unusual for start ups to miss their projections but with equity crowdfuding it has become guaranteed. Which is not sensible. 

Chirp are just one example. With losses now amounting to over £4.1m to June18, readers will not be surprised to see that this is not what they planned when they sold their equity on Crowdcube and Angels Den. YE June18 had a substantial projected net profit with balance sheet losses of only £1.5m. 

Spring is full of optimism - so here is hoping that they can turn this around. No one wants it to go tits up. 

Flavourly pivots but fails to heed the lessons of its previous endevours

You remember Flavourly, the snack delivery company that raised over £500k on Crowdcube and over £100k on Angels Den and then delivered a wipe out for shareholders. Well they are now failing with beer. Seems the poor service record is something the pivot hasnt changed.

This is an all too typical tale for Crowdcube investors  - over 300 in this instance.

In January this year, Flavourly forced all shareholders to sell their shares using a clause in the AoA which allowed them legally to do so. The company was sold to Drinkshare Holdings for £118k. You can read the full story here - it's shocking. There are too many main members of the Flavourly team involved as SHs in the Drinkshare outfit for our liking. How this is legal is anyone's guess.

Ryan O'Rorke is a major mover behind both but he didnt have any comment to make. He never does unless it's some PRing nonsense. The other members of Drinkshare are no better.

Reading the reviews on Flavourly, you start to wonder if the management suffer from some self- harming mental illness. Taking money off customers and breaking all your promises is not the way to conduct a successful business. It is exactly what they did at Flavourly V1, so at least they are well practiced.

We very much hope that these guys go down now before they cause anymore damage. And we would hope that all sensible investors will note the names involved and act accordingly the next time they surface for money.