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I wonder where this leaves our largest shareholder, I can’t remember if any details were ever released about the contract with them to produce Gen 2 Guardian..? If that contract is about to be cancelled and the relationship with SEE has broken down (assuming) then what will VSI do with their 250m odd shares..?
PM, I admire your optimism but the fundamentals have changed massively. Fleet was supposed to bankroll SEE to profit, it seems incapable of doing that, especially if Gen 3 is really 18-24 months away. Manufacturing is painful for tech companies, I think SEE have bitten off far too much for them to chew...
Yes revenue occurs when units are shipped not connected but selling 40,000 and only connecting 10,000 surely is a logistic problem that will snowball and I think monthly fees will only kick in once connected...
...with a STORY you wake up with FUNDAMENTALS. Did Ken say in the recent interview that there were 10,000 connected Guardian unit and that we ‘hope to double that in the next year’? The March Cenkos report forecast 38,000 units to be connected this year before cash flow started to grow. If you take Ken at his word then when does the cash run out...?
I really don’t get why they’d not give any updated fleet revenue TCV figures but give an automotive one that is underwhelming ($110m for 2019-2026 booked) when that is way below forecasts (Canaccord forecasts over $700m for that period). This $110m is booked and will obviously be added to, but why bother giving it when it’s so far from the projections...?
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