Member Info for isb1974

It must be hard work defending Paul with all the bull he spouts

It must be like all those Tory MPs who are trotted out every morning to defend idiots like Boris, Truss and Sunak.

It just makes those Tory MPs look like fools.

Baxter1, I'm I wrong? Paul claims we have won 2 awards via a Tier 1 on the QC platform - anyone know who they are?, remember he does say a lot that doesn't appear to be true. Had we already won them and since the win the OEM has moved onto the QC platform so it wasn't really a win more of a retention (although to be fair that would still be a benefit of being part of the QC stack).

More importantly, "noteworthy" is the key word? So far there have only been 3 contract wins over $100m and we have only announced one of them via Magna.

When we win another contract worth over $100m, which looks to be on the QC stack then I would class that as noteworthy.

Remember we are talking about a market supposedly worth billions so even if we have won a $30m contract over 5 years on the QC stack it's hardly anything to write home about - $6m a year - that isn't going to shift the SP to £1 is it or even 20p!

We need at least 2 more contracts worth $100m each before the market starts to take notice.

Big IF - when have SEE delivered on anything they have said?

Still waiting for $1bn auto RFQ

Still waiting for announcements of 3-4 mirror location contracts

Still waiting for 330 planes and 30+ simulators from an aviation contract

Still waiting for six figure (volume) contracts for fleet

Still waiting for Qualcomm to deliver anything noteworthy

Still waiting for something to make the market believe that in 11 months times the mkt cap will be ten times bigger than it was 13 months ago

The chances of returning cash flow positive by their stated date has got to be less than 2% based on their past promises

Those large fleet contracts intrigue me - you would have thought that for the past 18 months (since those comments were made) SEE's salesteam would have been pre-selling Gen3, signing up trials with prototypes, convincing them that it's what they need to meet the new legislation and therefore these large fleet companies would have been primed to go as soon as it was launched and would have signed those contracts to be first to market with such a life saving product (literally) to prove they care about safety, their employees and the incoming legislation.

But here we are 1 month since launch and not a dicky bird!

Looking forward to next week to see what PM has to say - it must be big as he now only has 11 months before the market cap is going to have a 0 on the end of it. He must have something up his sleeve, other than words, to make the market believe.

And the 3-4 mirror location auto RFQ's

Probably Seeing2020 with his £1 a share b****cks

Ok so;

In Nov2020 we were inundated with RFQs

In Jul2021 we were told of 10RFQs worth $1bn and likely to be a further $1bn in 2022

We have been told there are 4 RFQs for the mirror location over 12 months ago

Legislation kicks in for new models in 5 months time

We have been told OEMs were running out of time multiple times over the last 2 years.

We have been to CES for years showcasing the tech

We have had an office in Japan for over 3 years

We were told over 5 years ago that all Japanese OEMs were testing our tech

What I can’t get my head around is with all of the above why were we still busy at CES and this show in Japan showcasing our tech - surely all OEMs have now finalised their decisions so that they can fall in line with the legislation and failing that surely over the last 4 years with all these trials, RFQs etc everyone in the industry is already aware of the SEE tech?

I assume it’s just showing off new features for future years because surely contracts are already being worked on for implementation within the next 5 months? Otherwise what’s the point of the legislation if it’s not going to be adhered to.

I think Paul has got some serious explaining to do on where things are at in the next update because nothing is making sense given everything that has been said and the looming legislation. He can’t just come out with yet another pie in the sky timeframe.

Legislation was the thing keeping me here, but it doesn’t seem to be having the effect that I thought it would.

Perhaps some of the things PM has eluded to, you know;

50% of $2bn OEM contracts inc 4 via the Magna mirror (stated over 2 years ago)

An aviation contract which consists of 330 planes and some simulators (stated over 15 months ago)

Fleet contracts worth more than 100,000 units (stated over 15 months ago)

Profitability by the end of this calender year

Waiting for this to happen is as painful as listening to Tory gas lighting and waiting for a general election.

If he delivers all those this year we might get to the 70p SP he was eluding to just over 12 months ago.

Terrym - contracts have also been eluded to for the past 10 years;

Remember rail, do we have any major contracts?

Fleet projections about 6-7 years ago were 80,000 vehicles (why will gen3 be different? - at least they have only projected only 50,000 this time, but then retracted it)

Inundated with auto RFQ's in Nov 2020

2bn auto contracts during 2021 and 2022 - how much has materialised! Not 50% in value that's for sure

BDMS enterprise customers - came, went, came back again 18 months ago and seem to have gone again

Six figure fleet RFQ's with only us on the RFQ so basically a done deal (where are they 18mths on - you would have thought they would have been announced with the launch of gen3 given that everyone is running out of time)

Imminent aviation license deals, which would mean no further funding (how many fund raises did we have after that)

Any business won with Qualcomm would be additional and significant (have we seen anything?)

2 years into a Magna contract with no further wins, even though 4-5 RFQ's are for the mirror location apparently

330 plane and 30 simulator RFQ mentioned over 18 months ago

Have I missed anything? - looking at this how anyone can say they are not over promising and under delivering is beyond me.

Can't wait to see what bullsh*t comes out on 8th Feb, no doubt we won't have any further contracts between now and then.

When did PM say we would have a flurry of contract wins before half year trading?

He said a run of awards before the end of the year, which we had. Unfortunately SEYE announced more than we did, but combined together it was about 5 so I would imagine that’s what he meant.

I wouldn’t expect anything between now and half year trading as it’s only a few weeks away.

I don’t expect any fleet contracts for the next few months until it’s finally available to install

Glandore, how dare you question the oracle that is Colin!

He is a god in the telegram group.

Don’t you realise that because he is not convinced on the gentex offer meeting all regulations that 70-80% is going to be mostly SEE!

We won’t even be talking about SEYE soon either as they don’t have a mirror offer.

There is going to be a bidding war soon with the worlds biggest companies trying to buy SEE for well over £1 per share.

Oh come on terrym you don't need to worry about minor details such as big contracts with Magna - those 4 RFQ's for the mirror location is old news, we now have two new verbal bits of news from our esteemed leaders to keep us going until the end of the year.

All we need to believe now is 50,000 new connections for fleet, just ignore SEE's denial, Nick said it so it must be true and Paul's wonderful interview the other day which he virtually guaranteed profitability by the end of 2024. In fact he was so great in that interview I'm amazed the share price hasn't just doubled because of his performance.

So profitable and 70p by Dec 2024 - Paul said so!

You couldn’t make it up, could you.

But I bet the telegram group are coming up with reasons why it’s still true

Where are you going Lewbo? Surely as a resident ramper you would come back with relevant arguments against the points I am making - have you filtered me because you can't bear the truth and actually haven't got any response to the actual facts I have stated?

McDelivery my ar*e!

Auto

Over 2 years ago he talked about $1bn auto RFQ's with another $1bn the year after - how much have we announced since then - less than $75m?

Over 12 months ago he claimed 4 RFQ's were for the mirror location - as none have materialised through Magna (who won't be bothered as they have probably covered their payments to SEE through the VW contract) I can only assume OEM's like Toyota have chosen the Gentex option.

He has also talked a lot about contracts being sticky - not that sticky it seems as SEYE have recently announced contracts which are believed to be Ford and GM.

Fleet

Gen3 apparently launched, if you can call it that as orders won't be fulfilled until April. In my book that means the launch is in April. People argue that SEYE don't get to launch until it's in the car and use Jaguar as the example, well likewise until gen3 is in a vehicle it isn't launched. Also let's not forget I think this was the 3rd launch date for gen3 as there were 2 previous ones during 2023 so whether it's launched or will be in April it's late and only a few months before the legislation kicks in.

18 months ago he announced we were the only one on RFQ's for 100,000+ volume - today they announce contracts for roughly 1,000 per annum for each manufacturer. When is he planning on hitting his new 150,000 fleet target? In less than 10 years time?

What happened to all those BDMS customers that were interested again?

Aviation

The license deal as we know was over 2 years after his imminent comment. It's now 18 months since he blurted out a supposed RFQ for 330 planes and a number of flight sims. I'm guessing looking at their forecast for aviation revenue in 2026 that isn't materialising any time soon.

So far from being McDelivery I see this as a classic example of over promise and under deliver in every market we are in, big time! and the SP/market clearly agrees.

And as for his market cap with a zero on it by the end of 2024, I can only assume he means it will be something like 280m as opposed to 279m. He clearly couldn't have meant the market cap would be 10 times what it was when he came out with that bulls**t over 12 months ago because they have announced virtually nothing for the market to believe that will happen. Another classic case over over promise and under deliver.

Wish I had listened to the Naked Trader who nearly 10 years ago bailed out of this share calling it Jam tomorrow - he would have been better calling it "Not even Jam tomorrow"

And before anyone harps on about the legislation well clearly that is not forcing fleet or auto OEM's to be compliant by June 24 given the lack of speed in both markets, so much for that driving things forward. Another classic from Paul "OEM's are running out of time" - didn't he say that 12 months ago as well!?

Contracts are never announced at CES just worthless collaborations ie omnivision and the countless others I’ve forgotten

We will be lucky to get gen3 fleet at this rate

Jubilant January - more like Jacksh*t January

They will launch Gen3 at CES with no contracts and stock not available until March message.

No further auto contracts in Jan either.

Obviously this should read “And this shows…. “

And these shows how stupid our MPs are - does he actually know what is happening in the industry

According to the Martin video on LinkedIn this OEM is moving away from the tier 2 set up from 2026 and going with SEYE as a tier 1 from then on.

Does this mean we have lost Bluecruise or Supercruise?

He also said it’s not the last tier 1 relationship they will get.

Anyone feel like SEE are Betamax and SEYE are VHS