Monday, 15 February 2016
If more evidence were needed - its on tap.
Just in case you thought we were inventing things.
Sustainable Power raised £1.8m on Crowdcube at the end of 2014.
Accounts for the period to May 2015 shows losses for the period of £1.15m - against the all important Crowdcube pitch projections of a loss of £850k. Actually in terms of Crowdcube misses, percentage wise this one is in the reasonable bracket. However it is hard to be absolutely sure as the historic retained earnings (loss) figure in the projections is different to the one in the accounts filed at CH!
What investors may not have known and certainly were not told by the Crowdcube pitch, is that the founder, Ashley Moore, described in the pitch as a successful entrepreneur, has had little success. Sustainable's name sake went bust in 2012 owing £130k and his other venture City Golf Clubs is loss making.
Where do Crowdcube get their dictionaries from?