Member Info for laconic

I'm baffled why it's so hard to grasp the objectives. ROX have negotiated an agreement with Curran (who with almost half the company effectively controls what happens). They don't want to own the company, they want to spend a couple of years getting it on track to be an an absolute industry powerhouse then list in the US where it will be properly valued. Delisting is essential otherwise despite progress the SP is likely to languish on AIM and reduce the price at which the US listing happens. To me it seems pretty simple if you're willing to hold delisted shares for a couple of years.

Yeah, but the new CEO has said he'll give forecasts when he's comfortable they're not finger in the air. I prefer that to nonsense figures that have no meaning. It's a tough environment for new capital purchases at the moment. However, the tech is clearly incredible. Once a few are offering it others may have their hand forced leading to a snowball effect. It's all about getting that momentum and what can be achieved before the inevitable funding round. Then it's about who takes part and at what price. Lots of unknowns but I'm happy with the rick reward profile too. A discounted placing would hurt several key management figures personally.

It's not really that simple. The ongoing revenue from gas, bag, coil, software etc sales (mostly the first two) should dwarf the machine sale revenues in time. Those are dependent on utilisation by those that buy the machines and will ramp up progressively in a given location following purchase rather than being instant. However, even with as little as 15 machine sales a year (an insignificant percentage of the addressable market) and break even usage by hospitals (2 scans per week) the company should become cash generative pretty quickly. It doesn't take much.

Runway was already to Dec 24 and now extended to around Sept 2025, even without any further milestone payments or a sale of the non-core Malt-1 asset (both of which are expected).

Mcap now around 30m. Morphic whose only asset is in the same space as ONE of C4XD's (and looking inferior in phase 1 trials due to the worryingly high dose required) has a market cap of $1.44 billion.

This has been floating under the radar for far too long.

All (unwarranted) funding worries now pushed out to ridiculous time horizons and CD has already said that it's entirely possible that the company is now self financing. There's really no reason for this not to fly much higher after the initial wave of profit taking.

Andrew: SED have said consistently that in the case of the lead OEM it will be when the official product launch happens. That's the lead OEM's requirement. So yeah, not long to wait now. Whilst it's pretty easy to work out who they are, it will be interesting to see the reaction when it's officially announced.

I rate the Stocko small cap reports for what they are but they have serious limitations. As Paul Scott frequently stresses, they only take a very, very superficial look at companies and don't take the time to understand things in any detail. They give a cursery overview for the un-informed and then leave their subscribers to do their own research. Therefore, they're wrong a lot of the time. That's not to criticise but simply highlight their self confessed limitations - that they don't really understand most of the companies or sectors they commentate on and just provide a superficial scan as a starting point for people's own research.

From the considerable research I've done, I belive this is one of those occasions where if you take a deeper look than most people can be bothered to, you find a real opportunity. But it's all opinions. If there were no differing opinions there would be no opportunity for outsized gains. GLA and DYOR.

Definitely - if there is any notable up front payment as part of the Propel licensing deal, it's entirely conceivable that the remaining funding shortfall could be made up of debt.

OEM number three is one to get really excited about too IMHO. Piecing together snippets from various places, I'm 90% sure they're already doing advanced work with them on at least one performance 2 wheeler that will use the AFT. This opens up yet another market segment - one in which there aren't really genuine competitors for SED's offering currently.

It's before the meeting you'd need to register interest, not afterwards (the 12th to be precise). It also largely depends on the amount involved. As I understand it, if you qualify as a relevant person you can register to particpate through your broker but I'm still waiting to hear back from mine about the precise details (any insights from anyone else appreciated). For small amounts, the current sp means that you can just buy on the open market anyway... it's a minor premium currently and on smaller purchases that couple of percent extra would would be offset by the larger broker fees likely to be incurred for participating via the Broker Option. HTH.

And that's the key here. It's not about daily movements of a few percent. Those can be ignored entirely. It's about the funding/strategic partnership RNS landing and an instant doubling or more of the SP. It's happened to so many other microcaps with a funding shortfall recently. Sure, there's a risk of dilution but evidence seems to suggest it's not a high probability and the upside (and the probability of such) massively outweighs the downside risk for those with the stomach. All IMHO and DYOR.

More thank happy to keep mopping up forced redemptions by funds and PI capitulations. Added a little over 100k shares again this morning and now up to my target percentage. SP is insane. Obviously a risk that will be forced at raise at a discount but is Bastiaan Dreyhaus going to be able to find millions of spare cash to maintain his stake? Is he really going to allow himself to be diluted to nothing? Or are they going to hit some milestones and get funded at a sensible price or look to a partner (such as Philips) to whom £10m for a modest stake would be a piffling amount they're usually more accustomed to spending on a staff party? Risk vs reward here just seems absolutely crazy at these levels.

IMO it's the not the monetary size that's interesting per se but the fact that liquidity isn't there for large trades at the moment. I've been trying to reduce in another illiquid stock and top up here so added another 150k shares today. Yet again, I had to split it into multiple trades to get it through. The spike up in volume to 2.8m shares and the frequency of round 250k and 500k blocks could therefore in my mind very easily indicate consolidation for a large order, institutional or otherwise. My general experience in the current market would suggest that MMs simply aren't accumilating 500k share blocks here there and everywhere for retail investors to pick up in one chunk at the moment unless there's an order to be filled or a news event. In some companies, they don't even seem to want to hold £1k of shares at a time.

Anyhow, it's largely irrelevant... this is insanely valued IMHO and if the new management can show any kind of progress at all in the next few months or any interest from the likes of Philips taking a stake, there could be a huge and very quick re-rate. CVJ has a few million options that are worthless to him under 29p and the new NED has a bundle over 50p... other key people hold large percentage stakes. Thankfully there's plenty of personal incentive for the board not to raise cheaply if they can at all help it.

You can ask a question but if you've spent months polluting the thread with nonsense negativity rather than promoting constructive, insightful discussion, don't expect people to feel inclined to share their hard work with you.

UK cost info was referenced as it shows just how much detail is available if you look. Logically, it would also provide an upper limit for Indian unit costs. It's also worth noting that SED's design allows for variations in the grade of permanent magnet (and other raw materials) used in any given situation. They therefore have scope to produce motors with the exact same underlying design but with different price points (and corresponding performance differences) for different projects. All of which needs to be considered when thinking about margin from different projects.

Yes, margins have been indicated. Even manufacturing and raw material costs have been indicated for UK production. You just need to spend time researching instead of posting generic whining comments that have no foundation. You can also work out who the two OEMs are that have contracted so far if you're prepared to look hard enough. It's worth the effort.

It's not about how this will save hospitals money - not sure why you would have that idea Jam2morrow unless you're thinking about the NHS? From a US perspecive, with the way reimbursement works it's actually the opposite angle of making the hospital money whilst providing the best patient care rather than saving it. If the tech is half of what it appears to be the results for the patient seem clearly superior and he clealy outlined how the generous Medicare reimbursement levels they've been awarded could make each scan quite profitable for hospitals and therefore a financially attractive service to have available for patients.

TG wasn't involved when the last LTIP was set so it's not actually a case of the board redefining their own previous plan. Someone with TG's background does need paying appropriately. That's very simple. If it's a choice of options or draining the company of cash, the latter is very possibly considerably worse for SH in the current climate.

The annual report states that "The scheme awards share options to the employee based on a specific number of shares at grant date and the share price of Saietta Group plc at the vesting date, subject to profitability and employment conditions."

So SP is supposed to be a factor and also backed up by profit criteria. Seems reasonable.

Any level of profit should imply cash positive. Additionally, if there's visible profit the SP should be flying and so the exact SP defined might be a relatively moot point.

I do generally feel unhappy when large quantities of options are given out at depressed share prices - that penalises shareholders for current market conditions and sets management up to profit from a general market upturn as much as their own actions. That feels uncomfortable. However, there are plenty of companies doing that at the moment and without any subsequent profit or SP trigger criteria involved at all!

More specific details of the LTIP would be nice. However, based on the information that is available I think it's a very big stretch to suggest any kind of impropriety or indeed that anything is out of the oridinary whatsoever.

Cannacord have the same figures as PerkyLad quoted. I think they're very conservative, even for FY24. Ayro and Indian OEM design services pretty much cover that. Nothing for Propel or anything else at all. It's very much guesses. However, I have a strong suspicion who the OEM is. If I'm right, the current valuation is utter nonsense and the deals announced just the very tip of the iceberg. That's before anyone else jumps comes on board. If the Propel product is as good as the reviews suggest, that division alone is worth in excess of the current mcap IMHO. DYOR.

There were over 6m traded on Thursday at 35p. There are only two holders with that much - the other founder Octavius Black and Liontrust. It could be Black but it seems very, very unlikely at that price. My guess would be that it's Liontrust reluctantly selling part of their holding to meet investor redemptions. I expect they'll be other RNS shortly to confirm and also who was lucky enough to buy the rest. It's about the least liquid share I know though hence why it's drifted so far and probably why they needed to sell at such a discount to other IIs when there are so few with any cash available. IMHO it's an absolute steal at this price and should fly once liquidity returns to the markets.

As far as I'm aware it's a multi-month process involving numerous stages and far from a "tick box exercise". There are also other stages to go through (all of which take time) that would need to dovetail with it to produce hard sales. If you are aware of any concrete facts to the contrary, please do share them so we can all be more informed.

However, I do think many people agree with your opinion and share your impatience otherwise there wouldn't be the disconnect in the share price. I also agree that we're reaching the time where news on that front could (should?) be relatively imminant and doubts about traction might be more justified if there's no meaningful newsflow in the upcoming couple of months or so. From everything I know, I don't personally believe it was remotely realistic to expect it in the first quarter as many on here seemed to.

Just because applications were placed immediately, doesn't mean they were processed by the regional government immediately! What local government application processing happens at the speed of sound? I'm not aware of any, in fact just the opposite. I know the current market SP movements are painful but I think it's simply unrealistic to expect lightspeed progress on things that are quite possibly totally natural and outwith the company's control. Once the permits start to land it's entirely possible the newsflow could be thick and fast thereafter. Nobody knows for sure either way at this stage. But overall I think the risk/reward trade off at the current SP looks pretty favourable indeed for those with a level of patience and a small degree of bladder control.

Personally I think some expectations are unrealistic here. The company has been quite clear that commercialisation wouldn't be instant. Even though they have FDA approval they still need to apply for licenses on a state by state basis before they can sell commercially. How many approvals from local government happen instantly? I would imagine/hope that they're nicely lining up sales for when those licenses are in place and that once they are traction will ramp up. There are still plenty of execution risks but the tech is ground breaking and there are plenty of non-dilutive funding sources available once there is any kind of visible sales pipeline.