Wednesday, 25 May 2016

Qu'est-il arrive a Monsieur Notebook?

Hide Stationary raised money for their notebooks - Monsieur Notebook, from 70 investors back in 2014 according to Crowdcube -

But the latest AR for the company which has a list of shareholders as of July 2015, has only 4 shareholders. Of course the AR maybe wrong, as they so often are - but that is quite a lot wrong.

In the 2015 AR, it shows that the 4 shareholders own all of the issued shares, including those seemingly issued when the Crowdcube round completed.

In their Crowdcube pitch the company projected profits of over £800k for the 2015. The accounts for 2015, just filed, show a different picture. To be fair the accounts are so minimal as to make any accurate estimate of their profit or loss impossible, but they were not anyway close to £100k let alone £800k profit.

C'est la vie. Just another example of Crowdcube's mismanagement or is there another explanation?

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