The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Nothing! The listing was to line CJs pockets. Now we’re delisted he’ll happily take a fat salary and keep doing fundraise, to keep the company going, if he can! Nowt we can do.
Nothing that Mr Jeffries says can be believed in any way shape or form. The man says one thing and then does quite the opposite. 15th May he says more information “shortly,” and 9 weeks later nothing. This year we were supposed to be around £50m in revenues….we’ll be in the region of a 10th of that if lucky. I’m trying to decide if he lies intentionally or just has no comprehension of his own ineptitude, either way it’s terrible news for shareholders. He has said himself he is an “ideas guy” and here he is running our company. We have no idea on revenues - although we know targets will be missed - we know we’re running on fumes, funded by a fire sale of company asserts that we have no idea what price we got for - we know he can’t attract investors - even existing ones with deep pockets - and there is zero communication and zero respect for shareholder. This company is probably valued somewhere in the region of £10m and therefore based on old money at around 1p and that’s being generous. 7 months on and no Asset match set up…and yet Mr CJ continues to receive a generous salary for ineptitude. What has happened here is nothing short of negligent. If this company was in any way deemed to be an asset, the vultures would be circling! The fact they aren’t speak volumes for the potential future of the company. On their own website they have arrogantly referred to LaunchMyCareer in the same breath as Netflix….really? There has been zero growth in the number of employees at LaunchMy Career when looking at their LinkedIn page stuck at 258, when at one time this number was increasing significantly daily. I look forward to Chris Jeffries next RNS.
Difficult year.
Delighted with progress.
Restructure almost complete.
Revenues slightly down but they will be great next year.
Cost saving plans are working well.
Asset Match will be up and running shortly (there’s that word again - might be worth us all sending him a dictionary)
I thank shareholders for their patience!
We could actually have a game of RNS bingo with Mr Jeffries words! Shame on him!
Https://twitter.com/MrHappened/status/1681726742224879618?s=20
from dec 24th 2021
chris jeffries, ceo of dev clever, commented, "we are working closely with the fca and our professional advisers to finalise the prospectus which is at an advanced stage, and look forward to our shares relisting as soon as possible in the new year. i am delighted with the operational progress dev clever has made in recent months and will update shareholders on developments with our partners in india and china in early 2022."
* prospectus at an advanced stage.
* relisting as soon as possible in the new year.
* chris is “delighted with the operation progress.
* developments in china and india
outcome
* no prospectus
* shares delisted
* operational progress ****e
* no news about anything regarding india or china
19 months later
* still can’t sell shares
* all projections missed
* still no word from mr jeffries
* no new investors
* no info on what we sold our assets for (guaranteed less than we paid for them)
an absolute joke
“An investor update will be received by all existing shareholders shortly via the Company registrar Nevilles,“
From our illustrious leader Mr Chris Jefferies on 15th May! Do we all agree that the word “shortly” would indicate less than 8 weeks?
Start as you mean to go on Chris, start as you mean to go on! Just a liar and a fraud!
…..nothing from Chris Jefferies! I wonder how much money he’s ‘earned’ (sic) from our company since shares were suspended! Proper waste of air that man!
Nope, no news and really don’t expect any! We’ll be lucky to get a few pence…after fundraising, we’ll be lucky to be at 0.5p. Just my best guess! No faith in Chris Jeffries….so 0.5p will be a bonus.
Is this one still going!? I remember being in this before the 22p spike, many moons ago…whilst being run by Moon before he wangled his way to using PXS to take over SIS then splitting the companies and dumping PXS! Another share which has always been about getting out with a profit before you get screwed! Good old fruitflow and DSM!
Very useful to know…but supports the notion that we’re screwed, with the people running this company. It did still seem to go south rapidly when Veative got involved though, can’t deny that. All the best.
Suspension
There is no way that Aggarwal and his cronies would have so easily left the company after such a rampy marketing campaign, if they thought there was any hope of easily moving this company forward and generating huge profits. It was clear they just wanted to sell the company in the future. They clearly don’t see it happening and have taken what they want from the company and snuck off! Dev has no become a small business, with lack of potential and will just tick over paying the bills and big salaries, periodically we’ll need a fund raise to keep us going. Really sad state of affairs…if there was any appetite for what we were trying to do, one of the big companies would have stepped in. The fact this hasn’t happened speaks volumes. Byju…nope! Lenovo…nope. Apple…nope! Even Multiverse…nope. It’s just not a big enough prospect….and even if it was to get there, Chris Jefferies isn’t the man to do it. Look at Multiverse and the scale that has grown over a relatively short period, Dev / Veative / Launchmycareer.LTD, just isn’t in the same league…probably a different sport. Lots of hype over the years but zero execution. In Dev it will be 2 years since suspecting, and I think the revenues will be less. Watch this space, because that will tell everyone all they need to know.
Cheers for thoughts Barnard, but knowing what is needed to get onto one of the markets and knowing how skilled Chris Jeffries and his team are at completing paperwork to the appropriate standards (one prospectus was achieved at glacial speed and the other didn’t get over the line) we’re years away from listing and I don’t believe that is what he wants. He’s made is corn from the first listing, and he’ll be happy taking a big salary over the coming years, for doing very little. The growth over the last 18 months has been minimal and I don’t see that changing. If the company does re-list it won’t be anywhere near 10p. I hope you are right but there hasn’t been one single bit of evidence over the last 18 months that this company can improve its ethos, it’s image, it’s sense of responsibility to shareholders, it’s ability to communicate or it’s bottom lines. I genuinely hope you are right, but you have to admit recent history isn’t good and we have the same people trying to convince us that they’re “continuing to move the company forward” when it’s clear that hasn’t happened and when they tried previously they got it horribly horribly horribly wrong!
As for Chris Akers….i wouldn’t follow his buys. The man is a charlatan and a chancer! Duffy….again, try and search #Dev / #Dev_clever under his name…..he’s deleted every reference, every ramp…it’s just like they never existed. What does that tell you about the man? I also reiterate the RNS, something to the tune of not being able to raise capital from “new or existing investors.” Both the aforementioned distinguished investors fall into the latter.
Anyway….it’s a beautiful day and it’s time to get outside! Enjoy.
I think that anything that was said needs to be taken with a pinch of salt, along with anything that will be said. Once trust in a CEO / BOD has gone it can only be renewed with a change in both. Here we are, back with the same guy leading the way that got us to where we are now! Just to reiterate that in Nov 2021 we were being told that end of 2023 Revs, would be £51,000,00…..to not even hit 10% of that tells you all you need to know. If, and it’s a BIG IF, we can raise funds, we’ll be diluted to death. Only winner is Chris Jeffries, taking a big salary and free shares…just wait and see. As for Lenovo….’bag of!’ Been here for years with no material growth. Lenovo is a red herring. It’s a sad state of affairs!
Not sure how I’m going to cope with being filtered! How ever will my self esteem cope!
Most of what on chat boards doesn’t really need to be shared…..but people still share. Will be sure to let everyone know when I buy more or sell. It’s all about the profit and buying at 0.5p and seeing 1p and watching it go back to 0.5p doesn’t see a profit. As always good luck all.
Classic example of a numpty who clearly reads something but only internalises what they want to see. Sticks and stones, buddy, sticks snd stones! As predicted it did a biiiiiig drop and now I’ve picked up a few, as I said I might. Might top up a little more if it nears 0.5p. Keep hurling abuse while I sell near the top and use PROFITS to buy more at a cheaper price. Good luck all…hoping to average up but ready to take more IF the hit the magic 0.5p range.