Anyone able to log into the forum for Brewbot? I get a redirect too many times error and wondering if it is me or a system-wide failure. I can view the main website and backer info -just appears the forum is down.
Post your reply in the comments below (Success or Down Too!).
Thanks
Tuesday, February 7, 2017
Monday, February 6, 2017
Yes, Chris did post an update...
I do plan to have a full posting later this week about my email conversations with Chris that started late last year (and subsequently led to my starting this blog).
Before I repost his forum update, I just read this interesting and thought provoking article on Inc.
http://www.inc.com/quora/1-simple-question-you-should-always-ask-to-catch-a-liar.html
FYI - He may be referencing this blog in his posting. To date, I have not seen or received any direct communication from Chris requesting anything posted/emailed to remain confidential. To the potential investors that he mentions: What content of this blog is new information that you did not uncover during your normal due diligence process? I would be surprised if you were not privy to more information (including non-public financials) than I've been able to discover and share. Also, an open invite to any investor/prospect to contact me - even confidentially.
Now to Chris (reprinting in full):
Before I repost his forum update, I just read this interesting and thought provoking article on Inc.
http://www.inc.com/quora/1-simple-question-you-should-always-ask-to-catch-a-liar.html
FYI - He may be referencing this blog in his posting. To date, I have not seen or received any direct communication from Chris requesting anything posted/emailed to remain confidential. To the potential investors that he mentions: What content of this blog is new information that you did not uncover during your normal due diligence process? I would be surprised if you were not privy to more information (including non-public financials) than I've been able to discover and share. Also, an open invite to any investor/prospect to contact me - even confidentially.
Now to Chris (reprinting in full):
Hi everyone,
Fundraising
It has been a positive couple of weeks. We have some new funds interested and pleased to say we have some committed money due March
.
There is still work to do to bank this, and we need more but it is a step in the right direction.
One of the key meetings this month got postponed, hoping that will bring further good news.
Data
As mentioned in our last update we have been collecting the data necessary to support ongoing due diligence as part of the current funding round. While we'd love to share some of it the timing is not right especially as it may end up in the public domain.
We've already found this to be a liability and has had a negative impact on our funding efforts. Potential investors are extremely sensitive to information leakage and expect confidentiality to maintained.
It's also sucked up valuable days, legal costs and advisor time.
So I urge you all, please hang tight. We are able to produce these machines. And we're working hard to get everyone brewing.
P.s.
I know some of you follow the progress of the bar. There is a new wine bar opening upstairs. A couple came with an idea to utilise the space, so we are letting them run with it. We are hoping it will help with sustainability.
__
As always, any questions let me know.
Fundraising
It has been a positive couple of weeks. We have some new funds interested and pleased to say we have some committed money due March
.There is still work to do to bank this, and we need more but it is a step in the right direction.
One of the key meetings this month got postponed, hoping that will bring further good news.
Data
As mentioned in our last update we have been collecting the data necessary to support ongoing due diligence as part of the current funding round. While we'd love to share some of it the timing is not right especially as it may end up in the public domain.
We've already found this to be a liability and has had a negative impact on our funding efforts. Potential investors are extremely sensitive to information leakage and expect confidentiality to maintained.
It's also sucked up valuable days, legal costs and advisor time.
So I urge you all, please hang tight. We are able to produce these machines. And we're working hard to get everyone brewing.
P.s.
I know some of you follow the progress of the bar. There is a new wine bar opening upstairs. A couple came with an idea to utilise the space, so we are letting them run with it. We are hoping it will help with sustainability.
__
As always, any questions let me know.
Friday, February 3, 2017
Invest NI Request Response
Chris from BrewBot has promised an update today regarding the cancellation of the January Town Hall and the "January 31 is a deadline for a funding conversation and should know more about a couple of other options."
This AM I received the attached response to an initial request from Invest NI. I have some follow up questions in to them and I have a couple of significant posts in draft for release next week.
Stay tuned here and the forum for Chris' promised update...
===================
I can
confirm that Invest NI has now completed its search for the information which
you requested on Wednesday 11th January 2017.
John Miller
This AM I received the attached response to an initial request from Invest NI. I have some follow up questions in to them and I have a couple of significant posts in draft for release next week.
Stay tuned here and the forum for Chris' promised update...
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Mr
Ken Koch
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Invest Northern Ireland
Bedford Square
Bedford Street
BT2 7ES
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Telephone:
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028 9069 8427
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Email:
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Our
Ref:
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FOI 978
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Date 3rd February 2017
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Dear
Mr Koch
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Freedom
of Information Act 2000
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Was the
[Brewbot] funding a cash grant, services or combination?
Between 2013 and 2017 Invest NI offered Brewbot a range of financial
support (grants) towards R&D, market research and export activity.
Brewbot also received investment in 2014 through Techstart NI, an
independently managed Invest NI Access to Finance fund.
A total of £ 88,257 was offered in assistance of which £ 43,973.30 has
been drawn down.
Were there
specific milestones/deliverable and if so were they met as part of this?
As with all Invest NI support, funds are only released on completion of
key activity/delivery against agreed milestones, as set out in our Letter of
Offer. All claims to draw down against
offers are vouched against these agreed milestones before funds are released.
Did Invest NI
receive any value from this? (such as a share of BrewBot)
Invest NI has not received a share in Brewbot in return for grants
offered.
The TechstartNI investment was part of the $1.5m investment round which has
not yet resulted in any of these investors receiving shares in the company.
Were any intellectual
property rights developed, owned or transferred to BrewBot as part of this
engagement?
Invest NI did not obtain or transfer
any Intellectual property rights as part of its engagement with Brewbot.
If you feel that the information we
have provided does not fully meet your request please contact me on 028 9069
8427 in the first instance. You have the right to request a formal review by
Invest NI within two calendar months of the date of this letter and if you wish
to do so, please write to the Information Governance Manager, Bedford Square,
Bedford Street, Belfast, BT2 7ES or email ‘foi@investni.com’.
If after such an internal review you
are still unhappy with the response, you have the right to appeal to the
Information Commissioner’s Office, Wycliffe
House, Water Lane,
Wilmslow, Cheshire, SK9 5AF, who will undertake an independent review.
If you have any queries about this
letter, please contact me. Please remember to quote the reference number above
in any future communications.
Yours sincerely
John Miller
Client
Manager
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