Dev Clever (DEV) has announced it has now formally entered into commercial negotiations with an unnamed global technology manufacturing company with a view to partnering in their global ambitions to roll-out VR education technology hardware with the Company’s proprietary career guidance software www.Launchyourcareer.com and VICTAR VR.
The obvious consequence of these negotiations, with limited financial and development resources, is that the Company has decided for commercial reasons, to delay the Company’s UK roll-out strategy.
Whilst this decision will undoubtedly impact 2H19 performance and by default financial results for the 12-month period, it has obviously been a carefully considered response to the significant ambitions of their global manufacturing partner, which is expected to commence in the US from April 2020.
The Company is planning on releasing its full year results on Friday 28th February 2020, and we can expect a full briefing on both the outcome of the negotiations for DevClever and more detail on global ambitions then.
Shares are trading down this morning approximately 7% on the back of this news, but are still in positive territory for the month by 187%