Thursday, 2 November 2017

More real evidence that the Crowdcube platform does not work

It's like we have been saying - Crowdcube pitches are worth sh1t. Atlantic Kitchen have a current year revenue of £85k - 3 whole years after raising finance on Crowdcube with revenues in 2014 of £180k.

Atlantic Kitchen is nothing more than a bored housewife's hobby business. We told you all this on several occasions on this blog.

Now the owner and her husband are off to spend sometime in the US - to help expand his business. What the hell happened to the seaweed?

It's risible that we allow this sort of nonsense to even pitch on a ECF platform let alone persuade punters with fictional figures. The revenue for 2017 was supposed to be just under £1m and instead it's £85k. A corner shop selling ice creams on Sundays only takes in more than that.

The cherry on the cake is the delisting from Sainsburys and Ocado - where the former's buyer thought that seaweed hadnt quite found its market yet.

As one angry investor put it - 

I'd like some of these guys to pull their fingers out and wind up so I can put them in this years tax filing and stop getting their yearly updates...

Amen to that.

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