Seedrs and Crowdcube merger ‘self-defeating?’

@peter_IFAMAG reads Twitter so you don’t have to.

Seedrs and Crowdcube merger is called ‘self-defeating,’ by an industry expert. In Europe BlackRock ETF ‘thrusts climate change in the political sphere,’ creating tricky questions for the German government.

James Hurley comments on equity crowdfunding merger.

Seedrs refused to share its annual accounts yesterday when its merger with Crowdcube was announced. Today they land and the going concern warning and widening losses within are getting renewed attention. Self-defeating?

— James Hurley (@jameshurley) October 6, 2020

Rober Collins shares auditor details; to be profitable costs would need to be cut 40%.

Is this what a combined Crowdcube x Seedrs equity fundraising platform could look like financially?

We'd expect admin expenses to reduce through cost efficiencies, and in this case, they'd be looking for a reduction of ~40% across total costs to bring them to break even. pic.twitter.com/E0rIyNCLTF

— Robert Collings (@RobertCollings_) October 6, 2020

Collins shares the auditor’s account.

Material uncertainty related to going concern paragraphs are rolling in now.

Seedrs have just been hit with one… pic.twitter.com/MbYU1TNFJy

— Robert Collings (@RobertCollings_) October 6, 2020

BlackRock ETF upsets the German Government.

BlackRock ETF thrusts climate change into political sphere https://t.co/b3Sv5xYqk2

— Financial Times (@FT) October 6, 2020

A record number of companies went public last week in the US.

A total of 29 companies went public in the US last week – the most ever. I suspect that record should serve as a warning of some kind. Strange times indeed.

— Luke Johnson (@LukeJohnsonRCP) October 5, 2020

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