Clip & comment by boonboon on the other board
the Directors are extremely encouraged by any non-binding verbal acceptances that the Company receives (with the majority of these progressing to formalised documentation), on occasion certain verbal acceptances do not result in actual orders. Accordingly, the Company will only announce RFQ wins once the formal, legally binding documentation has been executed.
In other words we've won ****loads with Qualcomm just not formally signed.
this caught my eye:
Magna International Inc., (NYSE: MGA) (a large, multi-national Canadian mobility technology company for automakers and an existing customer of Seeing Machines) has indicated its intention to invest US$10m as part of the Placing at the Issue Price.
While I too hoped for an RNS this morning, it's just a good time for news to drop before results. I and many others have felt since postponement that it was due most likely to lockdowns preventing auditors visits & so on.
I'm guessing it's built but they are awaiting regulatory approval.
AS Phil points out:
".......The Agreement positions Seeing Machines to work closely with Collins to jointly market co-developed solutions...."
They are talking about jointly marketing, rather than to cooperate to develop, the emphasis seems to be to "jointly market", you can only talk about marketing if you already have something to market.
I almost couldn't be bothered replying, it's such a lazy bit of share bashing but:
Global Framework Agreement with Shell
Seeing Machines unveils its Occula® NPU (embedded by
Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, announces that EROAD Limited ("EROAD") will integrate Seeing Machines' Guardian technology into its fleet management software to help combat driver fatigue and make roads safer.
9th Jun 2021 7:00 am RNS SEE and CAE to deliver Crew Training System
27th Jan 2021 7:00 am RNS Qualcomm and Seeing Machines collaboration
This is just a few of teh many positive news RNS we have had. Others include various design wins etc etc.
Talking rubbish CFP.
It depends on what the tier one contract entails SB. If they are providing the full self driving software and other stuff, as a percentage our cut will be smaller but still consistent with direct supply IMO. Either way it's either a chip or, most likely, software only from us. Too many variables, even in our offerings - Occupant monitoring? Intoxication detection? HUD accuracy?
You get my drift. I don't think you can get a meaningful number with what we know.
The part that relates to SEE is if US, as expected, make DMS mandatory. USA very concerned about intoxicated driving so that's the main driver. The side issue is that Tesla are endangering people with dogy marketing and , for some reason, refuse to put proper DMS in their cars. Personally, I donlt care much about Telsa. Much more interested in VW and Honda etc etc.
https://electrek.co/2021/10/18/first-mustang-mach-e-models-built-in-china-roll-off-assembly-line/
From that update:
Financial highlights for FY2021
· Reported Revenue for FY2021 is expected to be A$47.3m, representing an 18% increase on the previous period and in line with market consensus
· Underlying revenue has grown 30% on the previous period when using constant currency*
· Cash at 30 June 2021 is expected to be A$47.7m, 24% ahead of market consensus