My Club Europe pitch to investors
My Club Europe plans to launch an offer via the Seedrs crowdfunding platform. This appears to be a new version, certainly in terms of holding company, of MyClubBetting.com, which tried to reverse into standard list shell Papillion Holdings. Neil Riches and Tony Fish are involved as directors of both companies, although it is unclear if there is a direct relationship between the companies. Both are also former directors of one-time standard list mobile apps company Worldlink Group that was liquidated in 2013. Sam Allardyce has been an ambassador for both companies and has been a shareholder in MyClubBetting.com along with golfer Lee Westwood.
My Club Europe (www.myclubgroup.co.uk), which was incorporated in July 2019 and re-registered as a PLC during December 2020, is not focused on betting and instead it offers to create a personalised website for grassroots sports clubs and provides products and services that enable them to generate revenues from their supporters. Other services include myclub energy, which helps the club get the best deal for its energy requirements, and myclub market, which enables local businesses to advertise their services on the club website.
A balance sheet for My Club Europe for 30 June 2020 has been lodged with Companies House. This showed net assets of £61,000. There was £90,000 in cash, but long-term creditors were £570,000. The most recent MyClubBetting.com balance sheet is for 31 March 2019. Net liabilities were £4m and there was £10,000 in the bank.
Hydro Wind Energy is raising up to £1m through a convertible offer via Seedrs. The offer has already raised £600,000 with more than five weeks left. The Future Fund is providing matching funding. Hydro Wind Energy (www.hw.energy) has three main products. OceanHydro Wind uses kites to harness offshore altitude wind and stores the energy under the sea. This can generate electricity at a low price. SubSea RO Wind can desalinate seawater into fresh water using altitude wind, subsea pressure and reverse osmosis membranes. The company is seeking engineering and partners to scale up the technology. The aim is to get the cost down to 30 cents/cubic meter. QuenchSea is a handheld seawater desalination device. The plan is to generate revenues during 2021.
Low-cost respirators developer Inbentus has exceeded its €200,000 target for funding. It has raised €239,000. The pre-money valuation was €2m. Spain-based Inbentus was formed in 2020. It has already designed and delivered respirators to Latin American countries. An improved respirator is being developed and the cash will be used to complete authorisation of the respirators and sell them n target countries. This is a big market that could be worth more than £10bn a year by 2027. It is growing at 16% a year.
Clooper is developing a platform that connects landlords, tenants, traders and homeowners. The EIS-eligible offer via Crowdcube £256,000 out of the target of £400,000. The pre-money valuation is £4.3m. The cash will be used to recruitment, mobile apps and marketing.
Drone Safe Register is raising up to £150,000 via Crowdcube. The pre-money valuation is £6m. So far, The EIS-eligible offer has raised £73,000. The UK-based company enables the public or businesses to hire safe, insured drone operators. There are already nearly 500 professional members and it is recognised by the Civil Aviation Authority. There are plans to launch the service in Europe.
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