Are you comfortable, then we will begin, said the bwitch. Once upon a time people told the truth...no really they did.
Then they forgot how to. Now nobody seems to know what the word means anymore.
The Do Nation Enterprise funded via Crowdcube in 2014 - just £167k with SEIS.
Their projections were not exactly accurate - were they guys?
Claims of large clients may have been exaggerated? Or maybe they were just unlucky. Dont suppose anyone checked.
The upshot is that for 2015 and 2016 the company has sustained substantial losses, when it claimed it would be making substantial profits. As at December 2016, it was technically insolvent. It recently raised £30k. 2017 projections seem somewhat optimistic.
Where in all of this is there any sustainable benefit to anyone in using SEIS. Please tell me or shoot me.
Of course this is not to belittle the voluntary not for profit work the company's NFP wing does.