Wednesday, 6 December 2017

ESign UK back for another attempt on Crowdcube.


It is an odd system that doesnt tell investors - their own clients no less - that a potential opportunity has tried and failed and tried and succeeded to raise on the same platform in the last 3 years. 


ESign UK Ltd are that opportunity. Now they are back for what we think is go 3 or possibly 4, one of which raised £64k in 2014. They have never come close to the projections provided in each attempt. Here is one they cooked earlier in 2016 which failed -

https://www.crowdfundinsider.com/2016/02/82270-electronic-signature-service-provider-e-sign-returns-to-crowdcube/

We couldnt find this information on the current pitch but thought you would find it useful. 

Why is it hidden? You need to ask Crowdcube that one. 

Im sure they would claim the David Davis Defence - 'well we didnt say they hadnt been on here before and failed or succeeded'. Helpful little man.

You can be sure that things are not what they seem when a company starts talking about its traction and growth in terms of 3 or 4 years windows, with increases in stats that have little significance. A 300% increase in revenues for a company turning over £10k means it is now turning over £30k - which when it claimed its turnover would be in the several millions, indicates either gross incompetence or worse.

More useful information might be that Crowdcube projections showed the company making a net profit of over £1m for YE February 17,  for which the company is due to file accounts this month. We would be fairly sure this is someway off reality.

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