Ann: Strong growth in contract sales, page-4

This is an exceptional update. FZO is going to surge as the market learns more about this company. The massive increase in buying volume over the last couple of weeks gives great confidence that this is just the start.

FZO is proving it has finally solved the fundamental flaws of other cyber safety products in school environments, ie it provides the whole of device solution for both teachers and parents across school and home environments, all in the same platform. This unique platform approach offers many advantages over more established cyber safety providers. So it's no surprise FZO is winning customers and staff from competitors.

2020 market conditions couldn't be better, helped by the need for remote learning, enormous US funding for schools to improve cyber safety, and social pressures over growing concerns over children's use of apps like TikTok.

QonQ growth will increase as FZO's credibility builds and targets larger school districts. The record pipeline and 80%+ conversion rate from trials secures a strong September 2020 quarter (before this announcement I was expecting September was going to be slow).

The large $10m raise looks like it was timed perfectly. Head of US sales Ross Young is the best of the best. His sales track record is exceptional. Ross has delivered great numbers and with the incredibly tight funding provided before the last raise, so I expect him to further build out the US team and the sales to soar.

I expect some additional news around the Google partnership as well. This is going to be very interesting and likely bring in foreign investors along with a re-rate. Integration into Google school issued devices could be an overnight game changer for FZO. The appointment of Matthew Stepka, former VP Operations and Strategy at Google, is enormous amount of validation.

Tim Levy is doing an exceptional job building out this company. It's taken longer than expected and understandably frustrated holders have sold along the way, but FZO is now on track to deliver exactly as promised.

The key risk in my view is the possibility of take over from an established provider that is losing customers to FZO. Although great for the share price, I think more shareholder value would come from allowing the consumer product extension to grow in the US before any takeover.