Otti Prams joins the logjam of Crowdcube funded companies going nowhere.

Otti Prams raised £89k on Crowdcube in 2015. For once ambitions seemed sensible - well for their failed 2016 second raise at any rate. Unfortunately even sensible seems to be beyond them.

More losses for YE Aug 2017 beg the Q - why were they ever on Crowdcube? These latest accounts have one line that reads like a certain death sentence -

' During the period the company carried on trading, selling to House of Fraser and independent shops.' Eggs all in one pram?

We predicted this 2 years ago - http://fantasyequitycrowdfunding.blogspot.com/search?q=+otti+prams

This is a classic small business with zero chance of scaling, so zero chance of a ROI for any investors apart from the owners. It is a fine business for those involved but it really shouldnt be allowed to raise funding from the public using, what seemed sensible but turned out to be, fantasy projections.

Otti Prams needs more money.

Otti has misfired. They are not the first and wont be the last using equity crowdfunding to promise loads and deliver nothing.

Now they are back for more cash  - a tiny amount at a company valuation of £500k. 

At least Crowdcube have been honest about their previous raise and the lack of delivery. But you have to ask why anyone would trust the latest projections when the last ones were a joke. Competition is hot in this space and it seems obvious to us that this crew hasnt got what it would take to make this work as anyhting other than a small t/o smalltime owner business. 

Have you seen the marketing budget? No its too small.

So what are they doing on Crowdcube??