Thursday, 3 September 2015
Mara Seaweed completes its Crowdcube funding despite the obvious objections of the Crowd.
Well done to Mara Seaweed. Having seen very little activity over the past few weeks and being over £100,000 short of their £500k target with 3 days left, in the blink of an eye, or 24 hours, they are now 'overfunding'.
It will be fascinating to follow their progress and to see if they can really deliver a NPM of 35% on £8m sales, as they claim.
From what the crowd have been saying for the past month, this £100k investment must have come from existing sources - we all agreed that the management was lacking and the valuation was ridiculous. From the numbers of investors it is clear that this last minute funding has come from one source so of the £500k sought, only about £98k was crowdfunded.
There is even a now a comment on the forum about it all being a little bit fishy - not for the first time we might add!