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The best use of cash they don't need (assuming they receive cash for license deal) would at a bare minimum be: just don't use the second tranche of the Magna preferred. They are taking down $30m immediately and have the option to take another $17.5m (even though 11p is not dilutive today, it hopefully will be dilutive in the future and this we can avoid that dilution). Next best use would be buying back shares if the price hasn't moved yet...
Ford's write-down of $2.7B is equivalent to EIGHT Seeing Machines! I realize this is overly simplistic but the magnitude of how far off the market is from fundamentals/potential is very perplexing.
Hopefully tomorrow contains no negative surprises...
I am not sure how long this has been true nor do I know how important it is... but I just became aware that SEE is a member of the FTSE AIM 100 Index. I clicked on the link to learn more and sorted the constituents by PRICE and you can confirm that SEE is the second lowest price (after Greencoat Renewables at 1.11p) in the entire index! I realize price is irrelevant in a vacuum, but still! Cheers to it moving close to Judges Scientific at over 7000 pence. ;)
What do you say we split the difference!?
I'm pretty sure they are working with L3Harris too? On simulators? Maybe I'm making this up? Nope... just old. MOUs turn into the good stuff... sometimes!
https://www.google.com/url?sa=t&source=web&rct=j&url=https://seeingmachines.com/wp-content/uploads/2022/05/RNS-L3-Harris-MOU-FINAL-21-10-20.pdf&ved=2ahUKEwjYn_KLtPX6AhXFrYkEHWdIDSAQFnoECA0QAQ&usg=AOvVaw2rBz9kGjOOXhKURDXvFJ-I
I agree with you all. Paul et al ARE doing everything they can from an execution standpoint. I agree it does not help that we are in a bear market / risk-off environment, but even more of a roadblock = investor relations, trading on an exchange like the AIM and trading in a country/currency undergoing its own turmoil... I believe SEE Is perhaps the most undervalued company in the world. I also believe fundamentals should ultimately save the day and make us fortunes. I just genuinely believe this chat board and safestocks provide more for SEE investors than the sell side brokers. I'm appreciative, and have learned a lot. Enjoy your weekends wherever you may be...
We should all be honest with ourselves and admit that the sell side brokers provide nearly zero value to the company nor to us. You/we all do way more work than them and their models and price targets are simply false precision. The company needs to do the heavy lifting now. And I have to admit: now that they don't need the money, I worry that they will have little incentive to boost/support the share price?
Unless they have total shareholder return as a key factor in the executives' stock grant award vesting? Can someone figure that out or ask Sophie? She doesn't respond to me anymore...
They secured 9 million in funding apparently...
Long road between where they are and where Seeing Machines is!
https://www.biometricupdate.com/202210/cipia-wins-biometric-driver-monitor-design-contracts-former-vw-execs-claims-china-leads
https://www.bloomberg.com/quote/CIPIA:IT
In addition ot SmartEye's stock trading in the toilet... CIPIA seems to be near its bottom too. It appears that NONE of Seeing Machines' public competitors are showing signs of success?
There was a crazy time not that long ago that SmartEye was worth more to the "market" than Seeing Machines. It was during this time that I accumulated the majority of my holdings.
Admittedly I underestimated the likelihood that that error in the market's scale would be corrected by SmartEye simply falling (all else equal).
I look forward to SEE pulling further away from its competitors!
Today:
SmartEye market cap in USD is $143 million.
Seeing Machines' is $340 million
Cipia's market cap in USD is less than $22 million!
My guess would be $30 million (+/- $10) USD over three years... plus volume royalties
https://www.prnewswire.com/news-releases/seeing-machines-and-caterpillar-sign-global-agreement-for-product-development-licensing-and-distribution-300142076.html
Good point. My quick math was: The last $41 million USD was raised at 11p. I thought the company was worth around $350M then (so 11.6% of company). This current $47.5M max preferred is on a pre-announcement market capitalization of about $240M (~20%). Add them together and about 1/3, but I agree this is probably a little high.
It's certainly better than Ken selling HALF the company at 3 pence when he could have sold the entire thing for $1B around the time GM bought Cruise for that much and they were trying to capitalize the auto group separately.
Regardless, I'm pleased with this structure and am relieved they likely have put in a floor to the stock price?
Main reason we need to dual-list or change exchange listing: this Bloomberg article this morning among many others
`Uninvestable’ UK?
The UK government took another blow overnight as Fitch Ratings became the latest firm to lower the sovereign’s credit outlook, citing “the large fiscal stimulus, announced without compensatory measures or an independent evaluation of the macroeconomic and public finances’ impact.” The nation's markets are feeling the pain too, with a wild first month for Liz Truss’s administration seeing at least £300 billion wiped from the combined value of the nation’s stock and bond markets. Worse could be to come, with gilts facing a potential “cliff edge” when the Bank of England exits the market at the end of next week. Gloom appears to be growing by the day. ‘The feedback we got from investors is that they consider the UK uninvestable as long as there is such government chaos,’’ Liberum Cpaital Ltd. strategist Joachim Klement said.