Wednesday, 10 February 2016
Luxtripper completes Crowdcube pitch despite everything.
We have posted on this company before. Now they have completed their second Crowdcube raise.
In fact the first post we published, resulted in the company threatening to sue us - using a fake 'Legal Counsel'. This appears to breach the Legal Services Act of 2007 where it is a criminal offence to pass yourself off as a lawyer. Definition of Legal Counsel is either a barrister or solicitor.
As a result of this threat we removed our article whilst we looked into the issue. We posted a new modified version.
We have asked Luxtripper to confirm the full credentials of the lawyer who sent the emails - they came from a Luxtripper email address. We have had no response.
One of the issues they had was concerning information we had published about their original raise on Crowdcube. In it, they had stated historic sales figures ''for the previous 10 month period'' of £633,000. In the current projections this period - March 2014 to Dec 2014 is stated as having a revenue figure of £111,000. The dates are slightly out of line but in the current projections, even the 2015 (April15 to Mar16) revenue is only £414,000. So £633,000 is clearly an error
So you have to ask where did the £633,000 figure come from? Was it intentional or a misatke?
According to Luxtripper it is an accumulation of the previous 24 month period not 10 months as Crowdcube stated to all its investors. This first Luxtripper pitch must have gone live when the whole Crowdcube office was out to lunch - not just their DD department.
Shabby would be being kind.
PS It appears that being nominated for 'Best Luxury Travel Co ' by the British Travel Awards isn't quite the grand achievement Luxtripper make out in their pitch. All you have to do to be included in the category (or nominated !) is pay a sub - one sub per category. Its how the BTA pay for their ceremony. Now to win it in your category would be an achievement but Luxtripper didnt win anything.