Driverless companies, plane-less Airlines and accounting errors make up Crowdcube successes.

Two of Crowdcube's successes that are about to file accounts, are less than they seem. Cgon has no one driving the company and Odyssey (Airlines), one the longest tales in ECF history, has no planes. Another one that has just filed more losses has admitted a major accounting error in the previous year. 

£1m was invested into Odyssey and £160k into Cgon. And £191k was invested in Water to Go. 

Cgon make and sell a fuel enhancement box but all the original directors have now left and the company is being run by a director appointed just this year - someone who recently came from a PPI claims company aptly named Claim Hunters, which us run by the guy who set up Cgon but is no longer a director. Seems cosy.   Claim Hunters' last accounts show a profit of £170k. It does seem odd that Cgon, an engineering company with cutting edge technology can be run without its engineers at the helm.

Odyssey Airline have yet to take off. It is a tough ask without planes.

Water to Go have filed more losses for YE Dec17, on falling sales and it leaves them in deficit for £450k. Sales for the year were almost half the figure of two years ago. Their accounts show that the previous year's stock had been over valued by £100k. Software error. So a small company declares it has £280k of stock at YE but it turns out £110k of this is thin air. Come on. Software error or should have gone to Specsavers? The warehouse must have seemed a little empty. 5 aside anyone?

All three companies are currently in Crowdcube's doing well PRing. Surely we need an independent platform that produces this information and allows investors to see the real state of affairs - not Crowdcube's version.

You should all look at this - https://www.indiegogo.com/projects/ecf-buzz-the-crowd-investors-information-centre/x/19804529/