Monday, 21 September 2015

Crowdcube pitch information is misleading

Why do they do it?

Blind Spot Gear are raising money on Crowdcube - the business projections look sensible, the team has the required skills to make the company work. So why do they have to have misleading information in the pitch? Where are the Crowdcube DD department?

If you are going to state that one of the founders started and ran a lens refurbishment company then surely that implies this was at least a success at some, even small, level.

The company in question, Kine Lenses Ltd, was incorporated in June 2013, had applied to be struck off only 4 months later and was dissolved in  February 2014, having not filed any accounts. IE it never traded. So why mention it? It shows no aptitude for creating a start up or taking it to growth. All it does now we know the truth is caste doubt over all the other facts in the pitch.

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