Member Info for isb1974

OldFool13 - you have just posted what PM spouted in the presentation - it's not guaranteed and even if it does happen that will only lead to circa $75m revenue and a $13m loss according to Stifel - that means the SP will not get above 5p for another 12 months

Stifel have then predicted only circa $95m the year after not $125 and only a $5m profit - again not going to move the dial on the SP

Another 24 months for the SP to be around 5p-8p and then after that who knows as 2027 looks pretty bare from a pipeline point of view.

No wonder there was such a sell off yesterday

I see a few more believers from Telegram are out today trying to convince everyone its not all that bad.

So $17.3m cash at the end of sept which is now $15.3 at the end of Oct.

Let’s say $2m cash burn for the next 3 months and then down to $1.5 for 3 months after that - that leaves $4.8 by the end of April

I guess the fundraise will be around then as they won’t want to leave it to close to the wire.

Or possibly they’ll hope that the end of Jan KPIs are good and a good half year results will get the SP back to 5p so they can get the fundraise through then.

Or hope for a contract or two by April to get the fundraise through

Whatever happens I think we will see a fundraise before the end of the FY and before they try to claim cash breakeven - just hope the SP recovers a bit before they have to do it.

At least the SP will show a strong bounce tomorrow as no doubt the Telegram group will all be buying as it’s such a great buying opportunity.

my god paul certainly had a problem with his shoulder!

anyway, seems aviation is a long way off with only the red label version done this fy. heaven knows how long it will be until the black label and sales arrive. amazingly he did admit to his bull**** about the rfq so i think we can take it that the 330 planes never actually existed - no wonder that presentation got taken down so quickly.

i mentioned earlier about my worry regarding the legislation - that has now amplified having listened to paul again talking about rfq's they are working on now - this morning i missed the point where he said they were for contracts starting from 2027.

so does our $395m and other manufacturer wins already cater for all cars produced for europe after the legislation comes in in july 2026? if that's the case what is the next set of rfq's for? what are the japanese doing for 2026? are they planning on not selling any cars in europe until 2027?

i was also shocked at the statement of only selling 15,000 - 17,000 gen3's this fy - i thought they had 100,000+ rfq's?

a quick search tells me that the eu produced 2.2m commercial vehicles in 2022 (1.6m vans, 500k trucks, 22k buses) - how are those produced in 2026 going to meet the regs if we are only selling that amount)

why is he no longer talking about time running out to meet the regs - clearly legislation is not driving this forward for some reason. without that expect more delays and fundraises.

if this ever gets back to my breakeven i'm bailing - unlike some i can't bare to sell at a loss so i will just hope i don't lose it all.

Yes where are the likes of Seeing2020 and Lewbo - all very quite - can't even muster up any counter arguments other than "I believe in PM" "PM says we are going to be cash breakeven in 8 months time"

McBullsh*t says a lot of things that never come true. Looks like Ive is the same with his $1m monthly cash burn by the end of the last financial year, which is now 4 months ago and cash burn is still $2.5m per month - god he must be a great CFO.

Escovido, they will not hit breakeven in 8 months. Remember this has already been pushed back because before it was supposed to be at the start of the second half of the year i.e in 3 months time.

Monthly cash burn is not anywhere near where they need it to be i.e. $1m per month and twice PM talked about volatility in KPI numbers in the future.

Clearly it will be FY 2026 at best depending on auto and gen3 ramp up - and gen3 hasn't started particularly well

Even I don't believe they will go bust, they will just do another fundraise if they have to, or Magna will buy them for 5p a share or something ridiculous like that.

If legislation means what everyone thinks it means then there will be millions of DMS systems fitted to all cars during 2026 - plus vans, trucks, lorries etc..

Given we have contracts with GM, Ford, BMW, VW then it is difficult to see how this will fail, it's just taking longer than has been implied over the last 3-4 years

My big worry is that due to the lack of contracts across the industry and the relevant small ramp up in kpi's considering BMW and VW are supposed to be rolling out across their entire portfolio's then I feel something is not what it's supposed to be with the legislation. There seems no urgency to hit July 2026

This means things could be delayed even further. It wouldn't surprise me if we don't see the contracts in early 2025 and it wouldn't surprise me if there is another fundraise at some point in the future.

They said the same sh*t after gen 1 and gen 2 - it always sounds very good. Where are the 50,000 units they stated on TV for the year?

Did he actually rule it out? or did he talk around it?

Of course that should be monthly cash burn. Just goes to show they spout absolute sh*t in these presentations which never happens

I thought Ive said we would be at 1m per month by the end of last financial year - i see we are still at 2.5m

What a farce

Seeing-2020 - you need to re-watch the video - he clearly said they would be announced at the end of Oct towards the end in his closing comments

However, I see he has explained it in the presentation but indicated only 400,000 for the qtr - pretty disappointing

I see he also stated twice about volatility

Yes of course we will seeing-2020 because everything PM says comes true doesn’t it

Where are the KPIs? He said two weeks ago in his interview they would be announced today?

Yep the EBITDA looks amazing compared to 2023 - excellent results!!!

Completely agree Chutz - next 8 months is critical as by July next year there will only be 12 months to go for OEMs to be compliant with the new regs coming in jul26

If there haven’t been significant contract wins and increases in KPIs then SEE will be in trouble and will no doubt have to dilute us again.

EVs shouldn’t be the be all and end all though - the sooner VW get the Magna mirror in the Golf the better and the sooner Ford expand into the Focus and Mondeo the better - that’s where we will see the benefit in KPIs and hopefully profitability

We then need that pipeline to build rather than drop which it will do if they don’t announce new contracts

PM better be right this time about contracts early 2025 - including the Japanese - that should increase the pipeline

It’s getting close to what I would call an inflection point but this is all based on the regs being water tight and no delay - let’s be honest most people thought 2024 was the deadline for new models and PM kept saying time was running out and then it came out that camera based wasn’t a requirement for new models in 2024 - I believe it is for 2026 - so let’s hope they don’t get delayed at all. It’s interesting that PM hasn’t used that line of time is running out for a long time though, which surely it is now!

We also need the US to get a move on with their legislation because it’s still really only Europe that’s driving this from a reg point of view.

Like the last few days though up in the morning and then by the end of the day it will finish down again

It’s obvious this isn’t going to end well

Next few years!!!

Am I missing something?

In circa 20 months time apparently legislation comes into place that states that all new cars, vans, trucks, coaches etc need to be equipped with cameras based DMS in Europe.

To get ready for this OEMs must surely be implementing changes in the 12 months leading up to that deadline to comply. It can’t just happen overnight even with the Magna mirror.

So if SEE don’t announce some serious contracts in the next 8 months in the region of 300m across auto and fleet and KPIs haven’t got to 1m per qtr then surely something is fundamentally wrong or the legislation means jack sh*t.

Add on top of that profitability in the next 12 months max - I’m giving PM some leeway - this should not take years.

If we are still below 5p in 12 months time then once again that will mean PMs last interactive interview was just more utter bullsh*t

Then no one can stick up for PM as he would certainly be failing to deliver again.

Seize.

We already know the results and according to PMG new contracts will be early 2025.

So all you are getting new next week are the KPIs and even if they are great that alone isn’t going to move the SP.

You’ve got many more months of frustration yet I’m afraid.

If PMG finally gets his predictions right then this time next year we should be reporting a profit and have more auto and fleet contracts, particularly from Japan in auto.

The SP may make it to double figures by then if that happens.

If you have only been in 3 years I don’t know what you are getting frustrated about - try 11 years!