Tuesday, 28 March 2017

Wisealpha prove our point

The art of alternative facts is alive and kicking. Wisealpha just filed accounts showing us how it's done.

Wisealpha raised over £570k on Crowdcube in April 2016. Their YE is June and the June 2016 accounts have just been filed.

These accounts show a considerable difference to the actuals/projections published by Crowdcube. This is even stranger when you consider the difference of over £90k in losses comes about with a projected turnover of just £11k. 

It means that the projections for 2016, which were all but actuals by April 16, must have had costs that were almost half the real figures. Given that this increase has been achieved in 2 months that is some manipulation. 

Although to be fair, it doesnt amount to a hill of beans when you consider what Crowdcube and Kelly Anne normally achieve. 

1 comment:

  1. Possibly a little unfair on Wisealpha (disclosure - I put a bit into them through Seedrs). Unlike many crowdfunded companies they've been pretty good at keeping the shareholders informed with regular meetings including detailed financials, and Rezaah always answers email queries promptly.

    Keep up the good work!