Showing posts with label investors. Show all posts
Showing posts with label investors. Show all posts

Saturday, July 14, 2007

30 Investors

Back in August of 2006, in the Guardian Unlimited Article "These men thing they are about to change the world", the author makes this statement:

Last week, frustrated that they couldn't persuade scientists to take their work seriously, McCarthy, Walshe and the other 28 shareholders of Steorn, a privately owned technology research company, took out a full-page advertisement in the Economist. In it, they called upon scientists to form a 12-member jury to decide whether their free-energy system is real, hoaxed, imagined or incorrectly well-intentioned.
Someone here recently quoted that number, which made me realize that I should go take a second look at Steorn's Financials [google docs link] [excel link] (thanks anonymous). If there were more than 30 investors listed, I'd know that Steorn took additional funding, like the March 2007 document suggests.

What I found was that there are exactly 30 Steorn investors, two of which hadn't invested until the latest publication. I think this is reasonable evidence that Steorn has not taken any additional funding after their declaration. What do you think?

Update: As you can see in the comments, Thicket points out that according to the spreadsheet, there are actually 34 stock holders. I missed the three class B share holders and also the BES Scheme investment. Unfortunately, the numbers don't add up in either direction now. I guess I'm not that surprised things don't add up ;-(.