The fund-raising round on Seedrs has now been cancelled. During the round, it became clear that many would prefer an equity fund-raising, particularly as they would still be eligible for EIS relief on monies invested.
Why not the Future Fund?
The round was a convertible loan note, fund matched by the UK Future Fund. Unfortunately, it became apparent after launching the round that anyone who invested via a Future Fund round would not be able to claim EIS on any further investment rounds (even if they were equity rounds).
As a result, we regret that we decided to cancel this fund raising and ensure that our shareholders can continue to benefit from EIS relief.
We still require funding to maximise the new opportunities, especially for products that can provide short/mid-term revenue without any significant investment by ABBS, except in marketing costs.
1) We have a number of new contacts globally interested in using or marketing our technology which all require support.
2) The stroking seat supply has enabled the simplification of the eVTOL Safety System which also makes it much cheaper, and easier to install on the aircraft, bringing forward the need for marketing activity in the USA.
3) The belly plate programme for the Toyota Hilux is leading towards early sales which need increased marketing and technical support globally.
We therefore intend to run an equity fund raising round in the coming months; so watch out for news of this round.
You can also pre-register your interest on CrowdCube so that you will hear as soon as the new round is launched.