Member Info for isb1974

Is this us? It looks to me like it is. Premium brand of PSA group - if so that’s been kept quiet hasn’t it?

See2020, It was this from the placing RNS that made me think that:

The Company announced its sixth Automotive OEM design win on 19th February 2019, taking the total projected value of contracted revenue from existing awards to approximately AUD$144 million between 2019 and 2026, with the majority of that revenue expected to be recognised between 2021 and 2024. The six Automotive programs are on track and are at varying stages of development. The Group also continues to respond to RFQs across a range of vehicle classes in North America, Europe and Asia and is currently actively engaged in five submitted proposals, representing approximately AUD$134 million of potential revenue to the Group. In addition, a further eight RFQs are anticipated for release in the 2019 calendar year, with an estimated potential revenue value of approximately AUD$245 million over the lifetime of these programs. Approximately one third of these expected opportunities represent OEM programs currently awarded to Seeing Machines, expanding to additional vehicle model programs.

I read the last sentence as referring to the 8 RFQ’s because it says expected opportunities and of course the 5 aren’t expected as they are already being worked on.

Either way I don’t suppose it matters as long as we win a good proportion of the new contracts and all of the extensions with current customers. How long ago did we open the Japan office surely we must be well down the road with these OEM’s and wasn’t there an interview where someone said 4 out of the 5 OEM’s in Japan were evaluating our tech?

I hate wishing my life away, but god I wish it was summer 2020 at least we will know who we have won by then - well I hope we will anyway.

Hi Seeing2020

I’m completely confused now. I thought they said that a third of the 8 further RFQ’s were with existing customers so I was thinking that GM, BMW and Merc or Ford were in that list. I was therefore thinking the 5 current RFQ’s are all potentially new customers for us; ie VW, Volvo, Toyota, Honda and say Nissan?

Have I read that wrong?

Agree. Although I am currently looking at a high paper loss I am actually quite pleased the company still has no debt and therefore interest payments. If over the next 12 months we can add more contracts with some of the big auto OEM's such as VW and Toyota I still think that would be significant, either because it increases the buy-out price or we will be getting closer to making a profit sooner without having any debt.

I also think adding £100,000 of your own money is a big statement. He hasn't done that just to appease PI's, he has done that because he wants to turn it into £200k or £300k i.e. 6 or 9p or even more with a buyout. Yes it's never going to be 40p+ but quite frankly I would be happy for a buyout at 12p because at least I can stop saying "I wish I had sold at 12p last July" :)

Likewise CrystalBallBroke, could have got out this morning in the first 15 mins of trading after 5 years of misery and quite frankly wish I had but now it seems that I am locked in until the next big news whenever that will be. I won't make the same mistake next time.

is that there is still a part of me that thinks there is still a good return to be made here given the huge potential in all markets. They will not break even in 2023 - it will either be before because of further contract OEM wins, further model wins within existing OEM's and legislation driving the auto and fleet markets or they will never make a profit because they win very few new contracts in the next 12 months meaning I would be fearful for their exisitng contracts being lost to competitors.

Looking at the figures presented even if we only win 2 of the remaining 5 RFQ's potentially being decided in the short term (say $50m of the $134) and 5 of the 8 anticipated for release in this year (as high as 5 due to 33% being existing OEM programs - say $150 of the $245) - that puts us to nearly $350 for auto (given the current $144).

Let's assume the majority of that will be the chip so will come in between 2021 and 2024 - that means we should be around a $80m per annum company just on auto. That's almost 3 times bigger than we are now without even discussing fleet, aviation, rail, mining and monitoring all of which should get us over the $100m per annum by then surely?

Yes its annoying that it's so far away, but surely that means the share price has got to be over 10p by then and a buyer is going to have to pay more than this 17p being floated around. Perhaps that's why it wasn't accepted if Bosch did offer it. Perhaps the business is so confident of winning this many new contracts and models and just needs the money to satisfy all these requirements?

Who knows, but I think it all hinges on these 13 RFQ's and like others have highlighted I expect these will be after June and some will even fall into Jan-Mar2020

My target price for exit changes constantly through the day at the moment, but I know I'm in here for quite a few more months anyway because I don't want to sell at a loss and I can't see the SP moving for sometime.

Yes they should be a concern - https://www.nvidia.com/en-us/self-driving-cars/drive-ix/
Let's hope we win enough contracts in the next 12 months before they get things sorted. Interesting list of partners at the bottom of this link

This is a really interesting development, if it's not us or SEYE, who is it. Who has integrated the ability to identify drunk drivers. I'm praying it's something we have done on the quite due to NDA's otherwise there is someone out there who is more advanced than us, which will just be another blow.

No, you've got it all wrong, Ken is all about saving peoples lives, it's not about the money honestly. I've learnt a hard lesson with this share and now know not to trust anyone in business (or politicians) at all.

I wouldn't believe anything written in broker notes anymore. They are there to promote the company. Remember the 50,000 fleet installations, £80m turnover this financial year, target price of 19p, £18 funding gap - it's just all lies to get people to invest thinking that the company will provide a ROI to them. There will be another fundraise next year trust me, all I'm hoping is that there will be a pump during the year so I can bail out of this jam tomorrow company.

another fund raise this time next year ....

"As at 31st December 2018, the Group held cash balances of approximately AUD$27 million. These funds, together with the net proceeds of the Placing and the VSI Subscriptions, are currently expected to finance Seeing Machines until the second half of 2020 and will be further supplemented by the net proceeds of the Offer (if any), providing the Company with additional working capital beyond this date."

So the date I believe is 24th April so I think by the end of April we can expect between 2.7 and 3p. Let's hope that they are acutally good to their word with something and then during May and June they annouce VW and Toyota and the price gets back up to 5p - then I'm gone.
I fear this will be the case for many so can't see the share price getting above 6 or 7p until 2023 and that's only if they make a profit
So much for safestocks and Semicast - complete rampers and nothing more

Agree, but got far too many shares in this already so not going to risk anymore because at this rate it's got more chance of going bust than making any profit

that's my dreams of being rich out the window - will be happy to break even now. Will never see 12p again that's for sure. Not even VW and Toyota are going to rescue this - in fact I bet we get no contracts announced before the end of June. Fleet is a shambles 27,000 units by June 2020! Loss increased again compared to last year. This company is never going to make a profit and that's why no one has bought it and probably never will. My target price to get out is now 5p - wish I had sold at 5.7p last week

Completely agree - my target price is considerably lower now than it was. I don’t think this share price will ever get above 20p let alone to the £1 crazy price banded around on this board

move up towards the end of the day, something coming on Monday?

Up over 8% yesterday now down over 4% today - this funding news and these RNS's can't come quick enough because this is so frustrating ....

Yes the probability of them not being announced by June is certainly increasing!

Sounds like more competition to me. Doesn’t sound like Xilinx will buy SEE either. Hotting up. The longer we go without contract wins the more worried I am getting.

As has already been mentioned this morning what happens if June comes and goes without any news.

I’m guessing we are where we are because of the $38m loss we made last year on a $30m turnover. I’m really interested to know what the loss is going to be this year as turnover is going to be flat. I believe there were a lot of one of costs last year so let’s hope the interims show good progress on that front. That combined with some contract wins should hopefully start convincing more people that we are the market leader and we are heading to profitability.