Just in case we didnt already know, Crowdcube's latest accounts show just how stretchable their version of the truth really is.
I dont suppose it was mere coincidence that Crowdcube chose to release their latest accounts at the same time as the GE results and 3 weeks early.
According to a piece which appeared in Business Insider just after the successful 2016 £6.5m CC cannibal raid, Crowdcube's stated aim was to break even by the end of 2018. So that would be towards the end of the next financial year.
Anyone who has read our other piece on Crowdcube's latest accounts will find this very hard to believe. It would mean that for 2017 and 2018, the company would have to hold costs and margins and grow at a rate of 150% pa (based on £4m revenues for 2016). That is a growth rate they have never got close to and considering the last two quarters of YE 2016 had stagnant growth, it seems unlikely. Certainly completion rates since October 2016 have not shown any signs of this kind elevation. Returns for investors have dried up altogether from the small puddle that appeared for a while. Disasters are now monthly. The secondary market has been pinched by Seedrs and IPO's, which appeared in this article to be their Holy Grail, are non existent.
There is a certain ring to this that reminds me of Theresa May. Ask a question, dont like the answer and so carry on regardless. Totally pointless.
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