It doesn't send a great message to very supportive private investors when you take many days to answer sincere questions via Investor Meet. C'mon Seeing Machines. Lesser companies manage it, so should you. Thanks.
I think some are tempted to take a little off the table, given:
a) The lack of detailed financial information last week on current trading and visibility on RFQs. The questions that many PIs asked are still to be answered on Investor Meet. PM pretty much said wait until full-year results for greater clarity. That is a long time away for some.
b) The lack of any note from house broker Stifel. Most would take that as a missed opportunity and some might view it as a negative.
c) The fact that a resurgence of Covid and lockdown will adversely affect this stock and many others.
Personally, I'm still long and strong but if I had a tiny holding, or needed cash, this could be seen as a good time to sell a few.
I did like this particular sentence: "After receiving a non-binding verbal acceptance in respect of c. A$120m from Magna International Inc., in response to a recent RFQ process, Seeing Machines' cumulative Automotive order book totals c. A$310m."
Magna, based near Toronto, ranks No. 3 on the Automotive News Europe list of the top 100 global suppliers with worldwide sales to automakers of $40.83 billion in 2018.
Clearly, Magna doesn't want QC to eat the entire cake.
RE: 2021 Los Angeles motor show: the most important new cars18 Nov 2021 08:49
That "beats the pants off" betrays the fact that I am secretly a Tesla 'fan man' when it comes to the way Tesla drives. I've not driven the Y model, though I have driven the Mach-e which is a bit bulky but does shift. From the reviews I've read the Model Y is certainly more engaging to drive and better put together from an engineering perspective . Watch the summary at 10m from Sandy Monroe here: https://www.youtube.com/watch?v=m1kHsd3Ocxc
However, when it comes to DMS I'm sure Mach-e is superior thanks to Seeing Machines.
Anyway, if Telsa is going for the Qualcomm digital chassis this should be sorted in due course!
Of all the cars coming out in 2022 the Fisker Ocean is my personal favourite.
Btw, Tesla was one of the brands that Qualcomm is working with, according to a slide yesterday. Love for Seeing Machines to be in forthcoming Tesla models. Tesla Y is a pretty cool car and, aside from its current DMS, it apparently beats the pants off of the Mach-e.
You are right it is theoretically possible that a better DMS exists but according to my research that isn't the case. Those 30 auto marques will be going with SEE imho. Unless all the people who believe See is the best (from analysts to fund managers) are morons.
Re. the lack of figures in the RNSs, I think it is there for all to read. Even the original Shell press release failed to provide basic information such as the length of the contract. If SEE can't RNS all the wins, some surely could be released - such as an extension to a BMW contract - unless we are somehow constrained by Qualcomm. SEE is doing this to make money and the broker should be pushing for financial updates in any case.
Internally, there must be projections on likely Shell revenues/Aviation/BMW etc.
Roy is a straight-talking guy who I respect. It's a pity he may not live to experience the pleasure of being proven 100% right on SEE. It's a lesson for us all to redouble our efforts to get full disclosure on wins and get the share price where it ought to be for all shareholders.
For anyone at Seeing Machines reading this, I'd respectively request an RNS on BMW win. There are also about 20 other OEMS that we are waiting for. Maybe even brief Stifel so they can at least update their figures and forward guidance for next week.
I'd have expected Cenkos to at least try and do what that RNS failed to do; provide some context on the financial opportunity. If they don't, how can most investors do so? Wonder if Stifel will do any better?
Anyway, congrats Pat Nolan. Aviation Tier 1 in the bag. On the terraces they would be singing: 'SEYE: you're not singing anymore!"