In 2013 Flossonic won Crowdcube's Product of the Year. Along with a whole host of other winners who have departed this world. It also took £126k off Crowdcube punters, claiming SEIS and EIS.
Since then it has done nothing. Flossonic was supposed to be a special electric toothbrush. Well it either never existed or it couldnt be sold as revenues were next to zero for all years since 2013 and now the company has been struck off by CH.
In summary, the 100 plus investors would have been better investing in a new wooden spoon manufacturer.
In 2013, Crowdcube struck a very rich vein with the award winners they selected and PRinged everywhere -
UPDATE - since writing this a day ago , Affresol has fallen off and is now in liquidation.
Righteous - Founders now moved onto Cauli Rice after massive de listing
Front Up - Bust
JAM Vehicles - Very slow see KS comments
Kamm and Sons - Had to change name and still very slow sales.
Green and Pleasant - Bust
Ovivo - Bust
Pizza Rossa - Bust
East End Manufacturing - Bust
Inspiral - Hanging on
Solarmass - Bust
Wild Trail - Bust
Quantock Brewery - Bust
HAB - Doing OK
Seek&Adore - Bust
Ineed - Bust
Affresol - Hanging on
Lawbit - Hanging on
E Car club - Sold to Eurocar for small 3X ROI on £100k invested.
Carbonlights - Hanging on.
Cell Guidance Systems - Hanging on
Fantoo - Little idea, coupled with Dell.
Asset Match - Hanging on
Red Advertising - Hanging on - have been back for 5 more rounds.
New Galexy - Hanging on
Flossonic - Bust
Zovolt - Some crazy accounting!
Dont forget these are Crowdcube's award winners; not some dross off the street. Hanging on means just that - not good at all.
26 in total, one sale for small returns. 11 bust but with 13 others heading that way. One doing OK but not close to an exit. Would you invest in these now?
Since 2014 Crowdcube have stopped PRinging their awards. You can see why.
