Member Info for Livingstone77

Sadly Lucy, after a week of some excitement, dropping down to insignificant levels.
It’s extremely frustrating owning stocks like Tek, Bell, See and others which appear to promise so much-but deliver very little. Perhaps a low cost FTSE tracker would be altogether more sensible!

One wonders why the board of SEE, fronted by PM, have for some time now created very high expectations of imminent/early/within the next 1 or 2 Q’s deals to almost totally fail to deliver. Feels like a football Premiership manager “promising” a top 4 year end position at the start of the season but then fighting relegation. In that scenario we all know the outcome.
I don’t suppose PM will be shown the door-but nor does he appear to have a cat in hells chance of achieving a SP at a level that entitles him to take advantage of his 2023 share option package.

I (possibly against my better judgement) bought more SEE shares (averaging down to about 9p) following the very positive PG shareholder update in London last autumn. The lack of subsequent 2022 significant progress announcements was initially a bit surprising and as 2023 progressed became disappointing-and (frankly without insider buying) would now be becoming seriously alarming. I have been privileged to sit on the boards of several public companies and understand well the relative difficulty in accurately predicting when customers will commit to long term contracts-but the paucity of news across the various divisions many months after listening to PG’s positive messages is, as stated, moving from disappointing to alarming

Wonder whether this shell will, despite the heavyweight BOD, simply fail to find a suitable company to “marry” and will eventually simply return the fees depleted funds to shareholders?

Looks more and more likely to me that Axel, in the absence of any other bidder, will offer sub 10p to buy in the shares that they don’t already own. Quite likely that the cash at bank will now be circa £10m-so with substantial ongoing monthly losses, they better get on with it as it’s a serious offence to trade insolvent!

I confess to being of an age where some technological developments in the world appear to solve “problems” that don’t really exist (like being able to have a conversation through your sun glasses when a huge percentage of the first and second world already own a mobile phone). However, as a smallish holder of Tek (initially attracted by the shareholding in BELL, which has fallen heavily since my investment) I did search the Lucy product on Amazon and was astonished at the price. Having, after some considerable deliberation invested over £350 on a pair of high grade sunglasses (mainly for fishing in the tropics) I am not sure how long it would take me to decide to part with £750-£800 for something in the Lucy range-but as I said at the beginning-maybe it’s just my age!
Many people do of course go for top end luxury goods of all descriptions. Let’s hope that Lucy find a niche in that market

Few of us who have been in this stock for a long time would have envisaged getting to this point in 2023 without a significant number of confirmed auto contract wins. As it is, it is probably no surprise that the SP languishes around 5.5p, valuing the company at somewhere around £230m-which frankly for a company that has never made a penny profit-and is still some considerable way away from doing so, is probably about the best that can be expected in the circumstances. Indeed, had insiders not being buying a reasonable number of shares in recent weeks, when even many long established PI’s are clearly losing confidence/patience, the SP could very easily have been much lower still.
I agree with many other posters that:
1 Only the announcement of material contracts will move the price to double digits.
2 Many long term PI holders will seize the opportunity of any price strengthening to bale out and move on.
Regrettably as Old Father Time looms large on my personal horizon, I’m in the number 2 camp despite feeling still that 4-5 years from now, the company may well be worth 4-5 times it’s current valuation.

Reinforces my concern about the progress (or lack of) of manufacturing in China. If they don’t have delivered product, they sure as well will disappoint with revenue.
SP most certainly reflecting considerable investor anxiety.

Encouraging-particularly as he has, as previously remarked upon on these boards, an opportunity in the next short while, to buy 12m at something beginning with a 4.

That some insiders are buying-as most other folk seem to be selling-even at these low levels which I suspect mean selling at a loss to most.

I’m certain that very many PI’s share your frustrations-evidenced by the volume of sellers any time that the SP shows any sign of going up. Sadly however currently the SP appears to be in a daily downward spiral and it’s difficult and depressing to know where the bottom will be! For quite a while I was buying fairly regularly to average down my circa 9p in price-but have given up!

His “pain” is somewhat off-set by his salary of over £100,000 a year. Nice little earner for overseeing a disastrous road crash of a business and recruiting clueless senior executives along the way. Astonishingly some investors voted to retain his services when challenged recently (although quite a few did not).
Probably irrelevant now as the business heads to being sold-if there is a buyer (which I doubt) or liquidation.

Difficult to know why this company’s SP continues to struggle quite so badly.

That’s always assuming that production has even commenced and that all the parts shipped from the US are not stuck in some Covid affected warehouse God knows where!

Jam tomorrow-maybe? Meanwhile the subdued SP suggests that Mr Market isn’t yet convinced.

Listened to the whole presentation very carefully and having run a billion pound UK public company which had a high percentage of tremendous long term American investors to whom I regularly presented would make the following observations.
1 I thought that the presentation was great-factual, stressed the company’s great opportunities (maybe I’ll re-listen and try to count the number of times that the word exciting is used) and balance sheet strength.
All speakers clearly know their divisions in great detail and spoke clearly without too much hesitation.
2 Aviation opportunities, currently valued at nil by Cenkos, appear to be enormous.
3 Relationships with enormous US companies were stressed across divisions.
What is astonishing to me is that despite many US funds having the ability and (often) enthusiasm to buy and hold stocks for a generation after which (unless SEE drops many balls) it should be worth multiples of the current market value, there has apparently been no material buying of the stock-indeed on most day since the presentation, sellers have outnumbered buyers.
Reasons could be
A) Almost nobody of any investor consequence turned up to listen.
B) Those that did so didn’t really “buy” the story.
C) Apathy around the recent banking issues.
D) The (undoubted) dislike by US funds of micro caps in general and UK AIM listed companies in particular.
E) A feeling that the opportunity to invest at low levels will still exist in 6-9 months time when the timing of break-even trading gets closer.
If none of the above, I’m at a loss and remain disappointed that the substantial cost and executive effort involved in the exercise appears to have been a complete waste of time.

Are a super well managed traditional agency with circa 10% UK market share. More chance of the man in the moon bidding for PB’s than Connells.

Mr Market values TEK at under £25m and has either got it completely wrong-which would not be unique, but is unusual-or knows more than we PI’s do.
Very FEW companies have IPO’d in the last 18 months and with a potential banking crisis bubbling just under the surface (Credit Suisse is a big seemingly very sick beast) it seems unlikely that investors will be queueing up with any enthusiasm to see miniature salt producers or vehicle part manufacturers come on to the public markets-whilst the 2 that have made it there are hardly pulling up trees. Could be quite a while before we break out of the circa 14-17p range.

I know nothing about Australian tax rules, but PM would not qualify for any form of entrepreneur’s relief in the UK and would be liable for CGT at the normal rate on any gain.
Encouraged to see the FD continuing to increase his stake whilst sellers outnumber buyers and as fully remarked on in these boards, absolutely no sign of any institutional buying from either side of the pond despite CEO/FD presentations-about which one always rather questioned the logic cost and timing.

Counter offer to what?
Strikes principal shareholders may have been badly advised to invest as much as they have to date, but both are sophisticated and experienced operators and I can’t see them chucking good money after bad to acquire PB’s at anything greater than the rapidly reducing cash on the balance sheet.