Is this the way to run an Equity Crowdfunding campaign?

Wise Alpha have raised cash on Crowdcube before. Now in their private mode or pre registration for a new Crowdcube round, they are claiming that '£1,799,600' is 'raised so far and counting'.

This pre registration -  https://www.wisealpha.com/crowdcube-pre-register?ccref=0wWhp7 -   being promoted by Wise Alpha is not what it seems. It carries the Crowdcube logo as if this money is pledged via the site. However we now know this is not the case? How? Well very simply we know of people who have pledged £500k via the pre reg button. This button does not take you to Crowdcube but simply asks for an email address and asks how much you might like to invest. This amount is then added to the fictitious 'raised so far' total.

Essentially it's a load of rollocks. Highly misleading and it really is beneath the sort of shenanigans that even Crowdcube get up to.

You can also 'earn' by getting friend or just colleagues to invest in thsi company - you will get 2% of what they invest we are told on the site. This is in clear breach of pretty well all financial promotion rules - Im certainly not qualified to be recommending this investment ......are you and for a fee??

As of 6pm the amount raised has now dropped to £1.5m. Who is making this up?

By using the Crowdcube logo, with we assume Crowdcube's permission, this is all now being carried on under FCA regulation, which as we all know, states that financial promotions in this sector can be about anything so long as they are not misleading. 

Well this isnt just misleading  - it is the whole blinking Leading family, all their cousins and Diaspora added together.

Do we really want this sort of thing going on? 

Wisealpha - a total mystery

We have no idea what to make of Wisealpha - the Crowdcube success that raised £579k from 376 investors.

Its platform is FCA regulated. It reports full accounts as if it was some multinational - but turnover has gone from zero to just £9k for YE June 17. It makes enormous losses - to generate sales of £9k it spent just short of £500k. 

Ok so maybe its one of those internet companies which collects followers to enhance value. Who needs revenues and profit if you have 250k followers on Twitter? Well no, it is not one of those - its following on Twitter is 900. 

It was technically insolvent in June 17 but has raised £900k since.

What is it? 

Wisealpha prove our point

The art of alternative facts is alive and kicking. Wisealpha just filed accounts showing us how it's done.

Wisealpha raised over £570k on Crowdcube in April 2016. Their YE is June and the June 2016 accounts have just been filed.

These accounts show a considerable difference to the actuals/projections published by Crowdcube. This is even stranger when you consider the difference of over £90k in losses comes about with a projected turnover of just £11k. 

It means that the projections for 2016, which were all but actuals by April 16, must have had costs that were almost half the real figures. Given that this increase has been achieved in 2 months that is some manipulation. 

Although to be fair, it doesnt amount to a hill of beans when you consider what Crowdcube and Kelly Anne normally achieve.