Happy Christmas - this time from Seedrs. Bike Hud has declared it is now 'dormant' although we are not sure that the CEO has a clue what that means. Bankrupt is a better description.
David Vout 'runs' Bike Hud - a widget to make motorcyle helmets present a heads up display. Well that is what it said on the tin. After raising £100k on Seedrs and collecting another £250k in unpaid debts, the last accounts, filed recently, optimistically declare that the company is now dormant. As if that is something akin to Passing Go.
It turns out that Vout had failed to pay for the renewal of his patents - so they have been lost. No bike helmet gadget was ever available as far as we are aware. All the money and the patents are gone. So lets just put up the dormant sign and hope no one notices. Especially those pesky creditors. Shareholders - oh sorry forget about them.
Shareholders will be delighted to see that all £272k of their FA have been wiped from the balance sheet.
Happy Christmas Mr Vout.
No comments:
Post a Comment