Monday, 13 June 2016

Shopwave fail to raise equity promised on Crowdcube pitch

Shopwave stated it would raise an extra £1.4m in 2015, as part of the Crowdcube pitch.

In a typical outcome for Crowdcube investors, Shopwave, which raised £340k on Crowdcube at the end of 2014, has not raised the required extra capital.

So a business plan that was dependent on this working capital has proved total nonsense.

Clearly promises of cash that do not materialise have a very serious detrimental affect on the business and its profitability. Why do Crowdcube continue to allow this practice of companies promising new capital, when all the proof shows its just made up to entice CC investors now.

Wake up everyone. You are acting like complete mugs.

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