Thursday, 15 October 2015
Beerbods report losses.
Beerbods raised £150k on Crowdcube in 2014 - we think.
We are hesitant because the AR for the investment vehicle Drink Beta Ltd, which owns 100% of Beerbods Ltd, has no shareholders listed apart from the CEO. A 'group' shareholding is listed.
Anyway Crowdcube think they helped fund this company so lets assume they did. It projected a profit for YE May 2015 but made a loss - albeit a small one. What is more curious is the way the subsidiary company owes Drink Beta £140k but has no money to pay this. It is technically insolvent.
All totally transparent and legal as usual. We expect them to be back on CC shortly. Cheers.