Crowdcube's detritus builds into ever larger piles, as yet another success looks like failure.
UPDATE - We were contacted by Dorian Spackman. He claims that he was never part of Socapps but that his company CMI, was contracted by Socapps to develop the Browsa App. We dont know if this is correct but in the Crowdcube Pitch it states that Dorian Spackmann is The Technical Director of Socapps - this information would have been verified by the FCA regulated Crowdcube platform, under their FCA licence before being used to sell this company's equity to the public. So someone is misleading someone else.
Socapps Ltd, with its app Browsa, has been in CH limbo for two years, having failed to file accounts since 2015. The company's SM has had no activity on it for 3 years. It looks like a busted flush.
Or as we call them, a zombie - a business that someone keeps on preventing the system from closing down. Crowdcube have plenty of them currently on their books. Companies that raised funding, and then just evapourated into the ether. Zombies are right up there with failures in terms of numbers of successes Crowdcube had funded.
The Browsa App now appears to be sold by Cornish Media Industries, a company with a large deficit on its most recent balance sheet. The main director of CMI, a Dorian Spackman, was also a main feature in Socapps' Crowdcube pitch and was a director of a now closed company called Browsa App Ltd. He isnt connected legally to Socapps.
Now it turns out that the Stephen Rushworth, the man behind the Crowdcube Socapps campaign , is now the Conservative CC for St Issey and St Trudy - a post he won in the local elections by a small margin from the LibDems last year. In his register of interests, he mentions Socapps, but it's misspelt; twice. A search under Socapes Ltd comes up blank at CH, which might be useful if you didnt wish people to see its filing history.
We tried to contact all the players in this but as usual we didnt get a response. Honest men dont hide.
All a little odd but that will not come as any help to Crowdcube investors who have yet again been sold a pup by the platform.
We tried to contact all the players in this but as usual we didnt get a response. Honest men dont hide.
All a little odd but that will not come as any help to Crowdcube investors who have yet again been sold a pup by the platform.
