Lovespace smashed their first raise on Crowdcube in 2014
They raised over £1.5m against an ask of just £600k.
Now they are back for more - only this amount was not scheduled the last time they appeared.
The good news for Crowdcube investors is that the value of the company has increased almost 4 times in just over a year.
The bad news for Crowdcube investors is that this value is total myth. The company projected sales revenues of almost £2m for YE December 2015. It has delivered just over £1m.
The company projected losses just over £300k for YE December 2015. It has delivered losses of over £1.5m. No wonder they are back for more.
All this has been achieved using up the pile of extra cash they were given.
We cant see any reason to believe a single figure Crowdcube produce. The only certainty is that whatever the projections, the company will fall way short of them.
This box comes with a warning - HANDLE WITH CARE