Investor Evening Success17 May 2019 09:38
The event went really well last night. Chris excelled and impressed alot of people. Turnout was good, had about 30 people in the room. Chris comes across excellent in person, he is certainly passionate about the business.
He said he was offered 6p per share pre IPO for the whole company just based on the coupon side of the business by a private fund, but said no. He has high aspirations. He strenuously denied any need to raise funds, they have plenty cash in bank and are actually profitable as of this month despite all the investment and expansion they have done to their sales force over the past few months, which is fantastic.
When it comes to the schools he was very coy, he is mainly dealing with School funds who look after large numbers of schools under a bracket, so in terms of securing large numbers its actually very achievable given he doesn't need to pitch to every individual school. He's already hinted that they have secured nearly 10% of the UK schools despite only been rolling Victar & Launchpad out for the past couple months, but we'll have to await RNS for official figures. If true though that'll be worth millions & millions to DEV per year.
He's also been in talks with major headset providers about a partnership to go hand in hand with the Eduction into schools, which to me indicates he must have some serious figures already to this date.
In regards to the lock in, Chris said his friends and family have been buying more in the open market and none have any intention of selling, even when the lock in end in July. However he may look to extend the lock in just to give the market confidence and put to bed any unnecessary doubts.
Anyway all in all a fantastic and informative evening. Chris said a high impact rich newsflow period is almost upon us and Dev Clever is in the best position its ever been in, the business is flourishing.
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