Wednesday, 19 October 2016

Or you could ask Darren about Orsto

When Darren has finished bigging up Crowdcube at today's Crowdfest, why not ask him some real questions - about what has really happened to companies that have funded via his platform.

Like Orsto.

Orsto raised £60k in 2014, the projections used by Crowdcube to sell the equity, showed the company making profits of over £500k for 15/16. Accounts now filed show YE Dec 2015 generated losses of £40k, no cash and a balance sheet in the red for the second year running. The item they pitched on Crowdcube and for which people paid no longer exists (it never did) and the company is now just another watch retailer.

You were warned.

Plenty more by the way.

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