Member Info for bigbadbob79

I wrote to the company a few months back asking about capex and they replied saying they expected it to be a mix of debt & equity but weren't sure at that point of what the mix would be.

Small cap markets have been absolutely dire this week after a bit of a rally last week too. Also not surprised to see the news being sold into, but more due to the macro situation. I don't think the BOD have done anything wrong here, I can well imagine the wheels of government turn very slowly in Sri Lanka. Also, this news has been long expected, and as we saw with ACP and others, the market tends to just go "Meh" when long expected news finally comes, even if it it is a key part of the jigsaw.

Still don't like the nepotism on the board though.

Glengarth, thanks for that explanation. And thank you for taking the time to discuss properly rather than resort to the petty insults etc one sees so often on these boards when there is disagreement.
Food for thought. I may well re-enter if an opportunity presents itself. If it doesn't and it goes back up from here, then I guess I take it on the chin and learn to take profit more consistently in future.

Doesn't make sense. The private company could have been bought by TGR before the floatation. Just looks like it's been used as a vehicle to minimise dilution for Poddar.
I posit he didn't take the placing because he has much cheaper warrants to flip.

Glengarth, I think some of the recent activities have been wholly in the interest of the Poddar family rather than the company. What an amazing coincidence that the family company TGR bought, and was perfectly fine because it was declared deep in the admission documents took the Poddars right back to their % stake in TGR before the placing. Why was the purchase 3 years ago but not actually executed until after floating on AIM and after a subsequent placing? Was that really in ALL shareholders best interest?
I meant to go to that investor event but couldn't make it unfortunately. Might have given me confidence to hold through this period, or encouraged me to sell sooner, depending upon how they came across. It can't have been a resounding success though, given the price action since. Perhaps those who attended didn't come away with good vibes?

Just trades at the mid price so the system has nothing to indicate whether a buy or a sell.

Agree AimInvestor. I bought in the spring based on the hype, and was very pleased when I was at nearly 100% profit over the summer. I've stupidly watched the price drift down until selling this morning at a 15% loss. There are things I haven't liked about this company for a while and I can't explain to myself why those things combined with the price action didn't result in me selling sooner.
Things I don't like about the company are centred chiefly around the nepotism around board make-up and senior management.
The recent deal to purchase another company also owned by the family stinks. There's a cynical line in the RNS saying "oh this is all above board because it was disclosed in the admission documents and the board think it fair and reasonable [well, they would, wouldn't they?!]". But what it actually demonstrated was that the board only have half their "skin in the game", as they have way and means of avoiding dilution. I mean it just so happens that their consideration for the other company brought them right back to exactly their % shareholding in TGR before the placing. Amazing!
Wouldn't surprise me if there was some wheeze to extract lots of revenue to other privately held companies leaving TGR shareholder with little.

Price decline is nothing to do with supply chains issues or inflation (which *increase* revenues for miners) and everything to do with poor corporate governance and (IMO) some pretty shady poractices.

@daneth, it's going to be hard to see any steady increases each quarter when the company has said it's not going to provide quarterly updates going forward. Unbelievable!
Feel sorry for anyone who bought on the hype earlier in the year and didn't sell. Such value destruction, and the usual abuse directed at those who called out this POS that was ramped to the skies. $500k sales at a time it had a market cap of £200m!

But why do the deal via Aldebaron? Why not do the deal direct (with Aquua if that's who you're alluding to) and say "We've done this deal with a party we can't name yet due to NDA", rather than "We've done this deal with a pop-up outfit called Aldebaron who we want you to believe are tech disruptors [but actually don't exist yet], to sit between us and the client we can't name yet due to NDA"?
It's a bizarre way of doing things.
And regarding Aaqua, that's a punt in itself. Might be the next Facebook or LinkedIn or whatever, or might flop just like Google+, Bebo, and all the other SM also-rans.

The £36m is presumably for work, technology etc provided by Dev, so I'm not sure you can just make the leap and say Aldebaron (whoever they are) are valuing Dev at £5.14 per share. It just looks like a bung for awarding this mysterious contract to Dev.

No sensible answers or thoughts as to the points raised. Enjoy investing in your echo chamber.

@Sanibel
They are questions everyone who is invested or thinking of investing should be asking. I don't have satisfactory answers for them (and suspect there are some very unsatisfactory answers), so I'm not invested until that changes.

"Seller out". Never heard that one before,
Perhaps there are many sellers as people start wondering about some of the aspects of this company.
Aldebaron formed 5 days after the June 21st announcement. Odd. And means Aldebaron is definitely not what the RNS led people to believe (but some of us worked that out at the time).
Why does a project with a client under NDA have to involve some mysterious outfit in Dubai? Why not just do the deal direct and say "we can't reveal the client or project right now because it's under NDA?".
Why does the mysterious Dubai outfit need to be handed millions of shares for nothing?
What us the rationale for handing the Dubai outfit millions of warrants at 60p do they can flip and depress the SP at a time of their choosing should that trade become profitable for them? Why not just do a placing at a time of the companies choosing to match cash outflow?
What is the expected penetration and average revenue per user of the Indian roll out? How does that filter down to the bottom line?

So many obvious questions and few answers beyond ramping and speculation.

Not sure I understand that point? I'm a simple pimple.
I remember another company that did deals with entities nobody had ever heard of that turned out to have been set up at the time of the deal and weren't in fact the established businesses the company purported them to be. Also saw it's SP rise to the stratosphere on hope, expectation and excitement and everybody fell back to earth with a bump when the house of cards collapsed.

Interesting link. Aldebaron DMCC registered 26th June. 5 days AFTER the RNS announcing the partnership etc...

I just can't work out why their offering is attractive. I've being doing loads of work with a top tier law firm recently, and we just use Teams without any add-ons or fancy telephony stuff and guess what, it works just fine.
Thank the lord I sold out of this at a very small profit earlier in the year. It's both amazing and distressing to see the value destruction here.
It's tempting at this level to pick a few up on a bit of a punt and cross fingers they start to generate some profit, but I thought that at 40p too.

Well, we've all had losers. DEV wasn't my biggest win of 2021. Haven't lost anything on TGR as I'm in profit and still hold every share I ever bought.
I'm not into anti-vax (in fact I block anyone who spouts such irritating nonsense), and don't really discuss Brexit but yeah I talk discuss covid and share on Twitter. So what?
I do know about buying into speculative stuff, but I prefer to do that when the company is cheaply valued, not with a load of hype and expectation baked in.

Jay_P. Hhahhahaha. The thought that my musings can have any impact whatsoever on a quarter of a billion pound market cap. Yeah, pull the other one.
I sold all of my shares here over the summer after my outlook turned bearish and have had no position here since then.
I might re enter if there is a material change to the investment proposition - like some actual figures and a reveal of the Aldebaron smoke and mirrors deal.
I only post on down days, because most days dev is indeed down. There's no agenda. If you don't want to read my musings, hit the mute button.

nomura, cash for equity might be progress. Depends what the cash is used for. I mean the Aldebaron thing is a placing in all but name, particularly the first year of the deal. I'd hardly call a chunk of equity in return for "revenue" about equal to the value of that chunk of equity a brilliant deal for existing shareholders - in fact in some ways that's WORSE than a placing as revenue won't all drop through to the bank balance, if it is indeed revenue.
It all just seems unnecessarily convoluted.
"what we know for next year already" What do we know? In terms of expected revenue figures? EBITDA? EPS?
What made me invest in the first place? It looked like an interesting play on the virtual reality space that was all the rage at the time, with a sideline in SaaS. Was a bit of a punt. Now I don't really know what dev does, or why they have done these deals shrouded in secrecy and what they expect to get from them.

Livelearn. So we know when the Phase 2 rollout is. But what will the revenue be? $ per school/student/total? What's the margin? Nobody knows, but lots of people throwing made up numbers around. Might be great, might be rubbish.
I made a mistake on the half billion, you are right, it's just under a quarter. Still feels a bit toppy to me. Clearly market thinks so to today.

No agenda, just offering a suggestion as to why the market hasn't responded in the way the rampers suggested it would/should.
It's an early stage tech company, with unknown revenues and an unproven model. Valued at half a billion pounds. I'd say there's a lot priced in already, so an "expected" announcement was always going to make the market go "Meh" and shrug its shoulders.
The £50m revenue from Aldebaron is more like a revenue for equity swap. The first years revenue is wholly balanced by equity, so it's effectively a placing.