Growing numbers of Crowdcube backed companies are taking investors to places they didnt know about.

We said this would happen in 2013. Numerous Crowdcube backed companies are now either failing to issue accounts, failing to file anything or have been 'taken over' with no regard for the interests of shareholders. 

To take a just a couple; Stockflare and Socapps. Total invested is north of £500k. 

Socapps have not filed accounts since 2015. They do nothing. But are still 'active' at CH. Their app Browsa, isnt and their SM, doesnt. We have written about them before. 

Stockflare told investors a while ago that they had failed. But would try to encourage a sale. Now they are Stockflare Analytics and run by the same crew who also set up Stockflare Securities which has a US company, Stockflare inc. It is partnered by US firm DriveWealth in NJ. 

Oddly Stockflare A states on its website - 

This website is operated and maintained by Stockflare Analytics Limited, a UK company. For the avoidance of doubt, Stockflare Analytics Limited, should not be confused with Stockflare Securities Ltd. Access our filings at the UK's CompaniesHouse.gov.uk.

The two are run by the same people, the latter was incorporated June 2018. Stockflare S company is the one with an FCA licence. Stockflare A appears not to have one. For a company recommending investments in shares that is a little odd. Stockflare S are just third party holders, a system which invites trouble and one which we have been calling for changes to. 

The only running thread through all of this is Shane Leonard, who was the guy selling Stockflare to Crowdcube investors for £450k, all that time ago in 2015. Shane is named on the FCA licence for Stockflare S. He has had a few companies - none of which have done much at all. There was talk of CC shareholders getting Crypto once the company was passed on - yes that old chestnut again. Yo, whats good? Crypto - the criss Bayden goldminted cashpan, innit bruv. Just look at XXXXXX - ontop jokes right. 

So where does that leave Crowdcube investors? We have absolutely no idea but we are pretty sure it isnt anywhere they were looking to be. Hitching a lift home might take a while. 

There are lots more examples and they are being added to by the month.