Crowdcube's Tempus Energy do not disappoint with further large losses versus projected £6.5m net profit.

Maybe one day Tempus will supply some good news - but not yet. A £500k loss for YE June 17 has replaced their projected Crowdcube £6.5m profit. 

We wrote about them here

Tempus have excelled in missing their targets and they are certainly up for Crowdcube's worst performing success, ever.

Now they have a new team of directors (all the others resigned) and some cash. Large intangibles are holding up the mantle.

Good luck with this one. Not quite as Crowdcube described it back in 2015, when they took £650k off investors. 

Tempus Energy join the Crowdcube pile

Tempus raised over £600k on Crowdcube in 2015. Recent accounts show them galaxies off course and the crew have abandoned ship.

The Crowdcube vetted projections for this company showed them making a very healthy profit of over £800k for their last financial year. As ever, the real story is rather different. They filed a loss of over £600k for the period. Next year's chasm should be even better with expected profits of £6.5m.

Worse news for shareholders is the fact that of the 6 Directors who made up the power team that would drive these exceptional profits on the Crowdcube pitch - all have resigned apart from the founder.

New June and July Crowdcube results. Plus ca change.

More results for companies that have used Crowdcube to obtain funding, yet again illustrate that the methods being used provide very poor results.

When 95% of something continuously indicates that the something is not working, surely it is time for a change? Well apparently not, as Crowdcube continue to operate their flawed model; propped up as it is by fake news PR which is then regurgitated verbatim by independent bodies like Beauhurst and Crowdfund Insider as fact - see earlier posts. Beauhurst have now changed their article replacing 'exit' with 'aquisition' and acknowledged our verification of the facts - shame they are not honest enough to give us a credit. They have also taken down all their 'research' into other ECF exits etc. We are happy to help but hope they dont just reprint Crowdcube PR again.  

Here are some more examples for the months of June and July - 

Crowdcube - projected £3.7m profit  Filed loss - £4.7m

Grub Club - investors lost all their money in an asset fire sale. Called an exit by Crowdcube. 

Crowdfunder - projected loss £150k. Filed loss £500k

Birdsong - projected loss £20k. Filed loss £70k

Floodkit  - projected profit £589k. Filed loss 50k

Fourex - projected profit £2.3m. Filed loss £1.4m

Good Egg  - projected profit £209k. Filed loss £70k

Health Connected - projected profit £3.6m. Filed loss £70k

Cauli Rice - projectd profit £93k. Filed loss £960k

Tempus Energy - projected profit £6.5m. Filed loss £360k

ISO Spaces - projected profit £2.6m. Filed loss £250k

Shopwave - projectd profit £2m. Filed profit £89k

Circuitree - sadly closing down due to illness of founder. We wish him well in his fight. 

Teachpitch - projected loss £53k. Filed loss £80k

This is an illustrative, not an exhaustive, list. We have not included Brewdog as they are covered in a separate article on here. The only company we can find that recently filed accounts and is ahead of projections is Hopstuff and those were new projections - their original ones were a joke. Missing targets does not mean its curtains for the company but our records show that a combination of missing targets, late filing and other failings (ie SM inactivity, lack of new stockists, poor reviews, no app etc) suggests a struggling company. Very few of these for which we have figures, get turned around. 

The following companies are late filing - 

Energie Corp 

Otti Prams

Ubrew

Albion Tea

Socapps

Faction Collective - havent filed since YE 15. French run a different accounts system.

Easy Property and E-Prop (moved date to Sept 18).

Teachy

MBJ London

Monetaflex

We are pretty sure that at some stage this particular merry go round will explode.