Well I have now come away from the AGM today with a veiw that my Share target may be some what short and beleive now , in a year or 2 we will be well over $3.00 . My original target was 5 % of ellementary school kids of which there is 36,500,000 of which management had previously advised there are 8% special needs kids , hence at a PE of 12 and 2,000,000 seats we would be $3.00 a share . This was all only based on America , now that I hear we may have our first sale in Australia before Xmas , I have learned we have aprox 200,000 special needs kids here , UK is also being looked at at the moment , there are another 600,000 special needs kids there , but what astounded me most was the 2,000,000 special needs kids that we are currently working on in the Philipines ( and was pointed out moving quickly ) . This additional customer base is twice my estimate of USA alone . Out of the 2.8 million new customers possibilties lets just be conservative and say another 2 million , well that now gives me a $6.00 target . The other intriguing point that was observed in USA , all my figures were based on special needs kids , there is another clasification that I was unaware of , AIS kids , main stream schools whom have slow learners , add this bunch to the mix and we can be even greater than my new target .
My notes are a bit scrambled but there were two new trial sites in New Jersey and Buffalo , meetings taking place in Florida , Miniapolos and Texas . A huge presentation to an education forum on the 13 th December this year in USA . It was also interesting to see that Schools will be able to purchase and activate on line , hence we may not even need to sell to particular schools , they may just come from word of mouth . We have two new employees starting in Feburary , and think that may be for USA . James was very pleased with the renewal uptake and additionals from most schools . Most impressive for me was the absolute proffessionalism our management displayed , and continued to believe we will not grow costs exponentially to sales . So for me I would reccommend a long term hold on this stock as it will just continually grow , grow and grow .
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