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It’s called momentum, and SEE are experts at stopping it.
I think the comments are fair - it was a drab interview with very little to get excited about. The trading update yesterday was completely devoid of any information, except the money boost as a result of the $5m upfront payment and savings.
I keep saying it - they are supposed to be the market leaders in the hottest technology field around - even global regulation has delivered in their favour. They were 20 years ahead of anyone else and they have years of valuable Driving data. They should have all the patents wrapped up and companies knocking on their door to use them. They have early bird advantage and had a deal with the hungry caterpillar years ago....
So why, oh why, do they come across like PM looks - drab, uninspiring, distant and out of focus?
I just don’t get it... are they simply in the wrong part of the world to keep the momentum going? Do they have the wrong people?
I’m still confident in the product, but I’m not sure I’m still confident in the company.
Cold fish whilst you sit in your bedroom being a keyboard warrior with your fish suit on. Do you think you can do a better job than PM is doing right now? What a pointless post. What did you achieve by posting on someone’s wardrobe choice. I wasn’t aware that they have to run what they want to wear by you? Are you the type that tells their wife what they should wear?
Good post redindi, The company is in a far better position than it has ever been. We have cash, we have contracts, we have great tech and im certain that we will start generating bigger revenue soon enough so lets see.
I mean honestly, that was a horrendous interview...he looks and talks like an asda warehouse forklift driver, he would be better suited wearing a yellow reflective vest.
That man cant cut it surely...your joking arent you. Him and his sidekick finance wizars hehehe. Im sorry but he is there for one reason only, to keep the gravy train running for the bod...but who gave him the gig, who did that.....answers on a postcard please:)
Indeed, be careful what you wish for. Yes PM still has to deliver re new contracts but perhaps, after the Takata mess, Ken had the proverbial low hanging fruit to go for, with what there was fruit wise, literally no competition (SEYE can not do what SEE do or it would win everything) and SEE hoovered up all that fruit with Ken at the helm.
Then, let's skirt around TFD, I'm sure none of that was Ken's fault, hmm, and those 2 small wins, which Ken will take all the credit for. 6 RFQ and 5 RFI and what has SEE got from it? 2, probably both BMW extensions. Which leaves 11 in the mix (not far out from Veoneers list). So is that Ken's fault, Paul's fault or something else. Well, probably a bit of each but probably the other. Rumours persist that the 2 oldest RFQ are held up either due to politics or ever increasing order and also probably throw into the mix Covid-19, which probably has affected them all. So, hardly Paul's fault as is the case for Aviation and also Fleet, which considering everything has done well, how it can now be seen as a cash burner is a strange one.
I think it was Ken who started advising on the number of RFQ /RFI SEE were involved with and I believe he really started to ramp it up about 2 months before the placement and look what's happened since? Some might call that cynical. And Paul also I'm sure will be regretting his imminent moment.
So, we come to today, having had the update yesterday. I'm not sure why he did not wear a tie although the room had all the personality of a prison cell so perhaps it was taken off him for safety. But did no tie detract from the message? I doubt it.
What was the point of the message? First and foremost to emphasise the most important thing, cash conservation had been achieved and no placement now and probably never. That, as others have also stated, at the present time, is what it's all about. Contracts, whether they are in Auto, Aviation, Telematics, Rail, will come when they're ready and they could be ready anytime.
And this is Paul's main achievement to date, although there are others. Would Ken have been able to achieve this. Two things Ken said during his time 1 - the staff are the most important part of the business, in that, shareholders are not and 2 - he would always go to the markets if there was a shortfall in funds. Put the 2 together and for Ken it's the easy option of a placement, no or minor savings made and probably, even if minor compared to the last placement, the market would have played on that and we'd be looking at some way South of the current SP.
Back to Paul. Go back to the previous interview when he said auto revenue was hardwired to double each year for the next 5 years. Presumably he knew the A$8 million had already been banked so that would mean Auto revenues were going to be around A$17 million rather than A$9 million.
So, instead of, assuming he was using the license fee as Auto revenue, A$9, 18, 36, 72, 144 & 288 it now becomes A$17, 34, 68,
With the chip starting to be installed at point of manufacturing the money will start to roll in, the more models the better, hopefully things will ramp up enormously with Qualcomm and new OEM’s installing. Perhaps 3 p now but things are only going one direction with the mandatory DMS in Europe and USA.
Really? You're invested here and you want the share price to go down to 2p? My hopes are a bit more positive like PM announcing something he has achieved rather than something from the coat tails of KK's tenure. Bringing forward revenue from a licensee will have cost SEE over the duration of the contract. It's been over a year since an RNS contained contractual financial details. Careful what you wish for.