I think you missed my point. We are a training provider not an...

I think you missed my point. We are a training provider not an LMS developer. We were looking for an LMS for a online course we were developing.

We do not charge anyone to use our LMS, we sell an e-learning course.

We launched our product in mid 2015. Our revenue for this financial year has already exceeded last financial year. We had no additional capex other than what I stated, no additional staffing costs and of 90% of the revenue created from this product in gross profit.

We are not in competition with Velpic and never plan to be. There are hundreds of LMS providers that are already doing that and despite any claims they make, there is very little difference in offerings.

Velpic have an LMS, they have designers through digital dash and they have a lot of technology people in the business and on the board. What they don't seem to have is people that understand training and have links to the training market. They could have created quality content and sold it (at handsome margins as per my example above) and then delivered it via their LMS which would have in turn created LMS sales.