Syndicate Room didnt withdraw Fitbug Offer - the time just ran out.

CORRECTION - Our last blog was inaccurate when it said that SR had withdrawn its Fitbug offer.

The offer was due to close today.

Unfortunately it doesnt alter the fact that this is the third failed attempt by SR to launch public offerings.

We note that in the Crowdcube plan to get into profit by 2018, they lead with the plan to start offering similar deals. Hmmmmmm.

More on Crowdcube's offer next.

Syndicate Room withdraw Fitbug offer

We would have to think this is our fault but the day after we posted on the Fitbug public offer on Syndicate Room, the pitch has disappeared from their platform.

Oh well if you dont succeed then try, try again and again and again .................. might help to have offers that make sense! Rumour is Fitbug will collapse if this funding isnt in place shortly. 

Syndicate Rooms Fitbog Public Offering looking ridiculous

So when is it a good idea to buy shares at 0.25p on Syndicate Room when you can buy them at 0.24p on AIM?

Never.

The shares fell to .22p last week.

Can anyone come up a good reason to invest via SR? According to the platform they are offering the public a chance to play with the big boys, as the big boys special price. Eh? 

Look, the idea isnt a bad one in principle but you do have to be able to offer a discount or you just look very foolish.

According to this  from the LSE website, the institutional offer is at 0.15p not the 0.25p stated in the SR offer document. Wonder who has got it wrong??

Syndicate try going public again - with Fitbug!

Syndicate Room have a deal with the LSE - the only ECF platform to be able to offer shares this way.

To date the two attempts to get this new version of equity crowdfunding off the ground, have gone off with whimper rather than a bang. Two tries and two failures.

In what we see as desperation they are now offering shares in Fitbug. This company has a colourful record on AIM - their two year share price graph would be banned from Centre Parks due to its dangerous G forces.

They are now apparently in a remodelling process. However they cant wait for this to return some evidence of traction, so they have resorted to, as one publication put it, scrapping the bottom of the crowdfunding barrel.

We dont see attempt three being any better than one or two.