Powervault lose £1.95m. Crowdcube cruise on. Sunset waiting?

Powervault is a Crowdcube favourite. We think it has raised 4 times now and for YE September 18 it raised another £650k off the platform. 

Of course this is not the picture investors were sold. 

Losses for YE Sept 18 were £1.95m. Looks like more money will be required shortly.

And what is the £500k CA marked Corporation Tax Recoverable? R&D? No real increase in intangibles and no real intangibles in FA. For it to be recoverable corp tax it would have to be against a very substantial profit for 2019. Since when did current assets include projected profits?

Why the very early filing of their accounts?

A new deal with EDF Energy will surely turn things around? Investors will have to hope so.  

More poor results for Crowdcube funded companies keep pouring in.

Saying everything is brilliant when in fact you know its all over, is not a sensible or rational act. But is happens too often.

On the back of some alarmingly bad results for Crowdcube itself, Crowdcube announce that have they just had a record year. Well here is some more good news to add to that - 

Powervault - still in test phase and reported £1.5m loss for year when they had a loss of under half that in their projections. Time will tell.

Health-Connected - Further losses of £71,000 filed against profits of £3.6m 

Cauli Rice - as already reported way off even the altered projections. Excuses excuses.

Freetrade - Still in trials. Supposedly with revenues of £3.7m for YE Sept18.

ISO Spaces - live on Crowdcube and going nowhere. Filed loss of £250k against Crowdcube projection of £2.6m profit. Is it any wonder people dont believe them?

Witt - as reported, way off targets. 

In all, we have files on 37 companies due to report in May and June. Not one of those that have filed, have come even close to the projections used to sell the equity on Crowdcube. Not one. We have a waiting room of overdue accounts and our experience suggests most of these will go to the wall. We are not making this stuff up - it is real hardcore fact - no spin, no PRing. 

When something is so obvious, how can people still be stupid enough to swallow up more of the same. Equity Crowdfunding might work, but Crowdcube's model doesnt. It is centred on Crowdcube making commission, not on creating viable businesses. 7 years on and that is an indisputable fact.

We love you we really do possums!

Oh Powervault - you returned, again. So lovely to see you. A fourth time? Yes that's four times on Crowdcube and still you cannot get anywhere close to your projections. Oh well, we love you little critters with your energy packs anyway.

For all you possums out there, trying your hardest to lose your money, this one is a dead cert. Luckily Crowdcube have decided not to mention all the other 3 rounds with increased valuations against failed KPI's. On the pitch forum the outstanding Q is so far  - 'how many times have you raised on CC?'

We can tell you that this is PV's 4th time. That's probably a record. Those naughty little generators are so thirsty. 

We can tell you that they have missed their projections from the 2016 CC campaign by a very handsome margin - in this KPI they are consistant. And that they expect to sell this company after 2020 making all you possums a pretty penny. We dont know when they expect to make a profit but then it deosnt matter as their predictions are nothing if not totally unreliable. 

So invest invest invest. You know you want to.

Powervault is yet another Crowdcube success that is returning for more cash.

Powervault raised £150k in 2014 on Crowdcube. They raised another £700k in 2015.

They are now looking for another £750k on a valuation of that has greatly increased despite their failure to get anywhere near to their 2014 or 2015 projections.They need to raise another £1.5m next year. Although that is only a Crowdcube projection, which almost certainly means it's wrong.

In 2014 the plan was very different.

Why bother with these projections and plans Crowdcube? They are merely an amuse-bouche with no relevance to the business they are tagged to.

Looks like the good investors at Crowdcube are desperate to throw away all their cash as this one is just about to complete.

Crowdcube are re writing the business manual. Mind you, they said that about CDS's!