Crafty Nectar completes Crowdcube in 2 days with overdue accounts and an issue with their brand IP.
NOTE - Since publishing this, the company accounts have now been filed and the IP issue is, we are told, insignificant. Invest away if you believe the projected growth rates - which are so far completely unproven. IE 2016 revenues £40k (real) 2017 revenues projected at £80k(part real) then 2018 revenues over £350k. Also consider that the founders have only put in loans - £500 of equity and the invest £25 and get 25% off 'current boxes' seems to imply 25% off forever, which is crazy crazy.
Im sure it doesnt matter - very small company with overdue accounts. Nothing too worrying about that. You might think CC would want this to be in order before a live pitch is promoted on their platform but they probably didnt realise.
IP is maybe more of an issue. It only came up after a major competitor pointed out the possible problem when seeing the CC pitch. Subsequently, the founder has posted a vague explanation saying it wont change anything. But it is an issue.
Either a brand matters or it doesnt and this company seems to want it to matter.
How could Crowdcube not have spotted this?
Why does the CEO not know about this and if he did, why did he try to conceal it. It doesnt inspire much confidence. Mind you, the pitch has already completed, so who cares.
More of the same.