Member Info for Maplinman

Great post TLS,

I can only add that Fleet is a cash cow, whose udders are set to grow exponentially; Shell, National Express, telematics.

Yes Cenkos' target is 19.5p and Stifel's 15p. Both are far too low.

With progress in auto and fleet this has to rise substantially. One big fleet contract with upfront payment and near-term estimates get upgraded substantially. Growing auto pipeline then cements that.

SEE needs more creative PR. Why not Sunday supplements, Motoring mags etc. Just as we buy computers with the latest chips we should be making the link between great interior safety and entertainment with our technology. Marketing SEE is not rocket science, even if the underlying tech is!

Correction: That note from Stifel was published on the 5th Jan. It omitted mention of the A$125m Magna contract!

I was expecting her to re-publish her note from last week as the figures were wrong in that note of 11th. In that note, she stated:

"Target price methodology/risks
We value Seeing Machines on an 8x EV/sales basis based on our FY24 forecasts and set a target price of 15p/share. SM has already secured over A$200m of automotive contracts, with the peak of revenues expected to be recognised between FY23-FY25E. As a result, in order to account for DMS contracts already won, we base our valuation on our FY24 forecasts. Key risks to our thesis include the need to raise funds; order push outs; regulatory changes; competition; and market disruption".

Sorry, I meant Martin. Henrik is the Volvo dude. My fingers can't process the data from my brain. I need SEE's NPU.

We ought to rise as we must be going into Volvo. Talking about walking into SEYE's backyard to steal its lunch. SEYE sinking like a stone and was down 7% yesterday. Henrik must realise the game is up. If he has any sense he'll come clean soon as any US investors will try and get him banged up when they lose money.

I was saddened by Roy's death, particularly as at one stage I thought he might recover. I wanted to say a big thank you to Seeing2020 for all he did to help raise funds for Roy's family.

I didn't know him that well but he was honest and blunt with a big heart. He believed in this company and its technology. Indeed, his conviction at times made me look like a fair-weather investor. He had my respect and I hope his soul goes to a better place.

As Ben Graham pointed out, the stock market is a voting machine not a weighing machine. Soon Seeing Machines worth will become clear to all but the most pig-ignorant investor - didn't PM explain that by the end of this financial year earnings will be more transparent as RFQ wins and Fleet business grow revenues.

Shallwe, those collaborations may appear irrelevant to some but surely we know better. Market dominance cannot be denied much longer.

The pipeline in auto + fleet should grow massively this year. That should be the catalyst for rerating, provided funds actually know about it and are convinced by the sales pitch. Nothing that I've seen from Stifel recently would convince me. Plus we don't have a City PR firm pressing the flesh in a determined way.

That White Paper was exceptional and I'm sure it is literally worth 1000x its weight in gold. SEYE's BS has been exposed and that has to help us and SEYE investors smart enough to jump ship.

Brothers and Sisters,

It's time to welcome SEYE shareholders to this Bulletin Board. Even as I write this I can feel that their faith in the BS spouted by Martin is diminishing. VW loss should have been a wake-up call. Volvo going to QC + SEE certainly is. Lots more to follow, I feel sure.

If only we had a broker who could produce notes to convince sceptical fund managers to take a look at us we'd be so much higher. Cenkos are trying but lack credibility. Stifel don't appear to be trying. Why doesn't Lombard Odier release its buy-side research to the market? Its quality would be compelling for other fund managers, I feel sure. Is it simply not cricket?

Brockwl,

You're taking one or two facts, some supposition on a difficult to interpret slide and presenting us with gospel truth. If you can tell me where Paul McGlone states we get £4 a vehicle from Magna I'd like to see it.

I do agree there is constant pressure from OEMs to reduce price per vehicle. However, PM made it clear that additional features will get additional payment. Given SEE has a monopoly of the best tech I'd say it is in a stronger position than any of its competitors to resist getting screwed on price.

Re. SEE not being a 10 bagger, I don't agree. By the end of this financial year, it should be clear.

Hi Terry,

I completely agree. Cenkos has upped its game but at the very least we need to add brokers with better reps who graft. (Peel Hunt and FinnCap I've always liked).

The fund managers already invested in SEE should be opening doors for SEE to their fellow fund managers and advising SEE on this. If they've not done so already someone from SEE should get on the dog and bone and ask them.

As to PR firms, well we need one with weight and ability who isn't afraid to graft. Walbrook PR is pretty tasty.

I should add that the price target from Stifel is currently 15p, but it has stayed the same for almost a year.

Despite all the progress in Auto and Fleet, I do worry that we have too little impact on the broker front for a global tech leader. The VW win should have doubled our share price in a day. Why didn't it?

I think part of the problem is the lack of impact on the broker coverage front.

For example, it is shocking that Stifel hasn't upgraded its price target on Seeing Machines since Feb 1st 2021, when it raised from 11p.

Indeed, Stifel actually issued a note on 29th Jan 2021, reiterating its 11p target, when our share price was 11.7p.

It has been said that Morgan Stanley is rather expensive to engage as a broker. However, it is also arguable that using them would be a wise investment. Adam Jonas has a very high profile and could easily triple our market cap, imho. Would we be 10p now had we used them 6 months ago?

Terry,

Re. the football analogy, SEYE and Cipia have as much chance of winning big contracts from SEE as Newcastle of winning Premiership. I wonder what Martin will do to deflect attention from that fact? Buy a back-massage company for car seats?

In particular, I'm expecting quite a few Swedes to find their way to this board over the next couple of months.

After the publication of that White Paper, I dare say even Martin feels like jumping ship. I wonder if they'll have the chutzpah to respond? Any SEYE investors lurking here?

I think we do need Stifel to step up to the plate and inform investors of what a grip SEE now has on the auto market. A one-page note, with no real insights as well as out-of-date pipeline estimates, won't cut it. It undervalues the tremendous strides that Seeing Machines has made in capturing the global auto market. Now for that Volvo RNS, eh?

I dare say a Caterpillar-style license deal, with significant upfront revenues, that brings forward profitability would do the job and force immediate upgrades from Cenkos and Stifel. I think analysts have been holding their fire in anticipation of just such a deal in January. We shall see, I guess. Then further upgrades on the back of OEM wins, while we watch SEYE slide below 150.

Then SEE will rinse and repeat....all the way to 189p...tomorrows looking bright...https://www.youtube.com/watch?v=-UajuBAUkBs...only a market crash can slow us down now.

If anyone from SEE is listening, we could do with a chunky RNS before CES just to set the mood for an explosive share price rise in January. This week will do nicely.

This is one reason SEE sales are going to be huge in China: https://media.ford.com/content/fordmedia/fna/us/en/news/2021/12/26/mustang-mach-e-is-delivered-to-first-customers-in-china.html