Member Info for isb1974

Thanks for pointing out my error.

So what you are saying is we negotiated the cash upfront to bail us out of our dwindling cash position because we couldn’t reduce costs as they predicted. Likewise with the gen2 sell off, that was to bail us out.

As we have around circa 15m in cash, give or take a month or two, without the caterpillar money we would have been screwed on cash?

Thankfully though we will just be screwed in a few months time unless they pull a rabbit out of the hat?

I assume you are also saying they will account for this across the 5 years at a whopping 3m per annum. We better hope gen3 and auto kicks in soon because that isn’t going to help much.

Concentrate on fleet!!!

They are only predicting 15-17k this year! Out of a potential of 2.2m commercial vehicles produced in the EU a year.

That’s sh*t and not going to add much towards reducing the loss of 17m they achieved this year.

That’s a 17m loss after bringing forward 5 years of Cat sales and selling off gen2 stock at probably not much more than cost

Based in their sales predictions for fleet and the 2.2m cars for this year (which means on average 550k a quarter) the dial is not moving much

So much for BMW getting up to 500k a quarter

I bet no one in the telegram group is stupid enough to put their whole pension on SEE though

That’s the last thing we need, more words from him. We need delivery, action on costs and contracts

.

Perhaps he isn’t ignoring it, perhaps he just thinks it will do just as sh*t as gen1 and 2 did and not provide a ROI based on the millions they have spent on developing it.

OldFool blaming people on a chat board rather than the people running the business. Absolutely unbelievable

Could’ve just said something different in the presentation- ie instead of we will release early next week they could have said they will release as soon as they have the outstanding figure and left it at that.

Let’s be honest though he did give a rough figure of 400k anyway so it’s not going to be anything we don’t know - unless of course he over egged that as well and they have actually come in closer to 350k - now that would be even worse

Fancy 6 months ago stating to the market that they would bring monthly cash burn down to $1m per month and then announcing it's still at $2m with no explanation as to why in the hope that no one would remember.

No wonder PM had an itch on his shoulder and Ive was slugging water back.

The market clearly doesn't believe anything they say anymore so the sooner they both get booted the better as they are damaging this business with all their rhetoric about being inundated with RFQ's, 3-4 mirror RFQ's, 330 plane contract, 1000,000 fleet contracts, OEM's running out of time, imminent contracts, market cap with a 0 on the end (or did he just mean a market cap of 0), 50,000 fleet sales live on Sky, inability to control costs. The list is endless.

It wouldn't surprise me if the 100,000 fleet contract is Amazon, but it will be worth nothing if it's just 100,000 Magna mirrors in Rivian vans.

How any shareholder can defend them is beyond belief

Schlemiel, don't be silly OldFool said yesterday we shouldn't cut R&D at all and we should just keep spaffing $2m a month up the wall because we may get overtaken by our competitors.

Who cares about getting a ROI on things we have already developed, let's just keep spending I'm sure shareholders won't mind more dilution to keep the lights on longer to allow Mike to roam around the world going from one talking shop to another.

And down it goes again. Clearly a fundraise coming or someone like Magna wants to buy us for about 3-4p - I'm sure they will see PM and MI right with those shares they bought at a higher SP - just the PI's will get shafted.

This is being walked down for a reason

Exactly - I’m amazed people still think that people on this board can influence the SP that much.

It’s simply down to poor performance, failure to deliver including things in their control such as the launch of gen3, reducing costs etc… and turmoil in the world and car industry.

Bottom draw for another 3 years at least - it might have recovered to 5-8p by then or Magna buys us on the cheap.

Good job we got that Caterpillar money pulled forward for the next 5 years ... can you imagine what the revenue and loss would have been without that!

Time to shred the R&D expense and get these costs under control. At this point in time who cares about future developments, we are miles ahead technically from the competition, let's sell what we already have - after all I wonder if gen1 and gen2 ever got a payback on the dev costs? you can't keep developing but never getting a return on investment.

They need to ensure they get a massive payback on gen3, and all the auto projects, mirror, Valeo, chip, etc... and partnerships.

Stop wasting money on trying to sort out things like alcohol detection until we are profitable.

We'll be back at 2p covid rates before too long

Paul’s explained a lot of things over the years, why do people still believe him?

Also how can you say this?

“Amazon would be Gen3, we don't sell our auto product into the fleet market, as we don't want to dilute that market”

Did you read those articles?

Do you really think we can tell Magna and Amazon that they can only put Gen3 into their vehicles and not a rear view mirror?

Of course Seeing-2020 - how’s Fedex coming along?, you know that contract you were peddling back in 2014/15.

But still only circa 15,000 a year. Yes if they were Gen3 with monitoring services then great, but it’s the mirror so value will be small.

The small benefit that would come from it, if we would be allowed to promote it, is that we would be in Amazon vans.

Not to worry we still have that Coca Cola deal coming, you know the one that’s a certainty because PM liked something on LinkedIn - isn’t that right Seeing-2020, I think you ramped that one didn’t you?

Good to see the SP managed to hold the 5% rise …. Oh wait a minute ….

Ok Escovido that does sound very interesting, my only thought is that it says it is already in vehicles so I assume Magna must already have a contract with Rivian for the rear view mirror.

I'm not going to let myself get to excited though because this could be another 330 plane and 30+ sim contract scenario.

And although it's fleet I assume the price would be no different to what Magna pay for auto OEM as it's the same product - so circa 17,000 a year (100,000/6 years) is not going to make much of an impact on the quarterly KPI's

I could do with a good laugh after yesterday's share price performance.

I assume Seeing-2020 was on there at £1

It may have been taken off the Safestocks article but isn't he quoting SEE brokers with those figures.

So you don't trust Safestocks, which means you don't trust SEE brokers. You don't trust anyone on here so that means you must trust the company.

How many lies do they have to tell before you don't trust them OldFool? I can't even be bothered to list their lies anymore as it will take me too long. It's not just PM lies now it's also MI as well.

I'm also not quite sure what you are querying in my post - if SEE achieve $95m in 2026 do you think the SP will be higher than 8p? It's currently valued around $170m at 4.05p per share with a turnover of $67m - can't see how the valuation will be more than $340m in 24 months time when the business revenue is only $95 with a margin of circa 5%

Clearly the legislation is not forcing OEM's and fleet to install DMS otherwise we would be predicting more than 15,000 Guardian sales when there are 2.2m commercial vehicles produced in the EU every year.

Like you I actually believe in the product and it needs to be in every moving vehicle, but legislation is not happening elsewhere in the world and therefore its an extra cost that OEM's and fleet don't want unless they are forced to.

The delays will be significant - I don't even mind SEE as a business I just can't stomach out and out liars like PM and now MI.

How can only 6 months ago MI state he will get monthly cash burn down to $1m and then not get even close - it clearly was never even possible so why state it - oh that's right because they wanted everyone to believe they are going to get to cash breakeven by early 2025, I think it was at that point. He has literally done the same again yesterday because he can as no regulatory body holds CEO's and CFO's to account for what they say to shareholders. It's disgusting