Go Henry or Gone Potty? Crowdcube are at it again.

Kids love Fudge. But investors dont. Or so we thought. The new Go Henry Crowdcube blockbuster proves us wrong again. Paint a pretty picture, air brushing the facts  - that's all you need to do.  

This is bonkers. Go Henry is a neat idea and has a little traction. Although this traction is no where near to the traction if promoted just over a year ago. Now readers, who dont have their last projections, will not know this - but it is a fact. One that Go Henry do not mention in their latest fairy tale. 

Take for example the sales numbers for Apr 2017 to Mar 2018. Crowdcube allowed them to produce this forecast the last time  - it showed revenues of £15m. Now we are told that the revenue for CY 2017 was in fact £6m and that this was an increase of 115%. Nout about where it was supposed to be. Again the projections from the last time showed revenues for Apr 2018 to Mar 2019 as £37m. Now we are told the revenue projected for CY 2018 is just £8m. A fall of ~ 78% (!anon) on a 18 month old projection. Wow. 

On the back of these falling numbers, the share 'price' has risen from £1.50 in 2016 to £3 now - a price increase the company incorrectly identifies in a footnote as a 50% increase. Is it any wonder they cant get their sums right. Back to school boys and girls.

Children are even included in their metrics  - so their active members are stated as 550k - broken down into 226k parents and 330k children. Is that supposed to be some kind of joke? Of course the fact that this imaginary split (so obviously used to up the 500k figure) doesnt appear anywhere in the new fairy tale says it all. ALL. 

A neat idea that may get traction in the US - although is more likely to get copied - is worth £55m without traction. If traction fails to hit targets in the US, then kiss goodbye to this dream. 

Gohenry limp back to Crowdcube for more cash please

Gohenry raised over £3m on Crowdcube 2 years ago  - now they are back for more. So how is this kiddies bank control done in the meantime?

Im with investors here - this idea seemed good to me, as many of your showed in 2016. But they promised a lot when they sold you over £3m in shares. Have they delivered?

If you read this typical nonsense from Samantha at Crowdfund Insider, then you would think they have blown their targets to pieces - https://www.crowdfundinsider.com/2018/09/138874-digital-banking-solution-gohenry-set-to-return-to-crowdcube/

But as you should know by now, anything written by Sam is nonsense or certainly poorly researched. Maybe she really works for Crowdcube Insider?

Gohenry said they would be turning over in excess of £15m by 2018 and £37m by YE March 2019. Well according to Sam they reached £8m this year. Whoops. 

So can you expect a downround on Crowdcube? Well common sense says yes, but it is unlikely. Crowdcube doesnt do common sense.

The Good the Bad and the downright Ugly

Three companies recent filings and reviews reflect the diverse nature of the Crowdcube portfolio.

First lets start with Clint - AKA Curpis Health and  also Go Henry

Curpis Health - It's a little early to be hanging out the bunting, but these guys appear to be ahead of their financial targets although they still appear to need to raise cash this year. Breaking into the NHS is a very had task, especially with the budgets stertched to breaking point but they seem to be getting there.

Go Henry - progess has been spot on and providing they can refuel their gas guzzling plan, they look set to make some serious impact in the future - when is anyone's guess. But certainly not a lemon. 

Then there is the Bad - well you can really take your pick. One we like Is Water to Go - seemingly gone or Psonar which has been liquidated.

We have reserved the Ugly for the worst set of reviews we have ever seen. This goes to Chupamobile - which took over £500k off Crowdcube punters. Here are some of the reviews - Sites vary on theor average but from the 3 we looked at, it's around 1.5 out of 5. - 

''Seriously folks, if you're reading this... They dont care. And if you doubt me at all, use your favorite search engine to find tons of other complaints just like mine. Don't fall victim to these guys. Avoid at all costs.''

''They are scammers do not use that website, dont buy or sell, if you paid for something that does not work please report here, choose internet fraud:
https://www.usa.gov/online-safety''

''After buying a source code that was far older than stated, they continued to literally patronize me. Theyre customer service is one person, who refuses to offer any real help or refunds. They say they updated code, which they didnt. Made me waste even more time, only for them to tell me politely that I'm screwed. Now I have no product that i can work with, ive wasted two weeks in trying, and I'm insulted. DO NOT DO BUSINESS. I dont care how good it may sound. I wish I would have read the reviews on this company first.''

We are not saying these reviewers are right but as business is hard enough to get going, running into a headlong gale like this makes if pretty well impossible. Accounts due out this month.