Member Info for Maplinman

Did you ask her what happened to the fleet update? Toyota, Volvo, Subaru, Rail and aviation contracts? Will they miraculously be announced after a sale announcement?

Management told investors at the Investor Evening that their first priority was to staff not shareholders. That Ken was being brutally honest should be clear to all here now.

https://www.nvidia.com/en-us/deep-learning-ai/industries/ai-innovators/

Wasn't Mulder ultimately correct?

Anyway, that aside don't you think it a little odd:

1) We've had no fleet update/news on Mix Telematics

2) Canaccord Genuity haven't issued a proper note since January.

3) No news re. rail contract or even whether Progress Rail are keeping contract.

4) Tiny Byton RNS when Toyota/Volvo rumoured to be imminent months ago.

5) Radio silence on Caterpillar?

Something odd is going on and you don't need ET landing in your back garden to realise it, surely?

Redindi,

If I was a newbie I'd be inclined to agree with you. Anyway, we'll see. Toyota + Volvo are expected wins. Let's see if they get released before or after a bid.

I think the question we should be asking ourselves is: why is management allowing the price to drop?

A decent RNS about an actual contract win or even, god forbid, a fleet update could bring this back well above 10p. Canaccord (remember they are supposed to be the house broker - or are they just interested in flogging SEE?) issuing an update with revised figures on auto etc.

By my reckoning we're due news of:

1) A rail contract

2) Fleet update

3) Some contract in Aviation

I think the price is being allowed to fall because it facilitates a sale (on the cheap it has to be said). Long term holder will remember the uncanny coincidence that whenever the price starts to rise we get a) bad news b) an ineffectual RNS.

I don't mind the company being sold cheap, I just don't appreciate what appears to me to be manipulation on an epic scale that is effectively cheating PIs.

In short my concern is some skinflint company that is well liked by some at SEE taking us over for around 20p-23p.

Thanks SeeingTom,

If you are employed by SEE I congratulate you on explaining why they released it. Do you think it was meant to have a positive effect on the share price? I look forward to the release explaining that Ken has had brunch with Waymo execs next week.

Perhaps you could also explain:

a) Why no fleet update has been released explaining what is happening re. Mix?
b) Why the promised Rail contract has not materialised?
c) When Fedex is expected to sign a contract?

There is lots SEE could say and they need to be strategic about it.

That would be auto contracts not 'corrects'. Friggin spell checker.

Robbie,

I'm still fully invested. After 5 years patience is wearing a bit thin, I'll admit. However, I can see amazing progress has been made and expect more auto corrects this year (rail and aviation also). This is totally undervalued that's why I'm still in. Very soon I expect a company to try and snap this up before that price rockets. The clock is ticking.

Dare I say it, but I feel an air of complacency setting in among some on this board. Sure, we've made a great investment in SEE, which is a brilliant company led by a very able and hardworking CEO and assisted by a very good team. However, Fedex haven't been signed, they went along to a meeting. And we've been discussing Fedex on this board for at least 3 years. Mix Telematics appears to have delivered little and the deal with Progress shows little tangible...well progress.

It is always dangerous when you start to believe that any person has deep insight into a stock and you stop using your critical faculties. Safestocks, Colin, Lorne etc can provide insights but they get things wrong too.

Anyway, for my final shot this is what I think. SEE has 2 choices: sell up or raise more cash (by whatever means) and go for it. Personally, I think the former route makes more sense as even with more cash it has to very quickly get more engineers to service demand from auto for its Fovio tech and developments in other areas; aviation, fleet, rail etc. I may be wrong, I'm just a human being like the rest of you.

Having a chip does not currently mean zero engineering resources are required with each auto OEM win. (Though I wonder if eventually SEE could licence the tech out).

The closer we get to figuring out what is really going on the lower the share price goes....(time to change tactics?)

Nothing to see here!. No possibility of a takeover taking place in next month on the cheap. Just couldn't happen. It would be like us imagining directors get free shares for failing to hit targets. Or a no deal Brexit...hahaha. Impossible.

No proper note that I am aware of, which is bizarre to be honest. Clearly, the automotive figures need a refresh...lol

If SEE were in takeover talks led by CG would it prohibit CG from issuing a note? Just askin.

Faith is a powerful thing Beef. Still, a little knowledge is a dangerous thing and can lead to complacency. There is a lot of information that is not in the public domain. For example, it seems reasonable to push to understand what is happening re. Mix Telematics deal and Progress Rail. To date their has been little sign of success with either. I understood that there were minimum volumes expected from Progress and I they don't appear to have been met. I assume the Mix deal has some similar conditions attached? If Canaccord was able to issue a proper, detailed broker note maybe that could allow us PIs to know what is happening? Alternatively, a fleet and rail update would be most welcome. (The Cenkos note was useful but still just reissued old figures from June). Not sure if Panmure are still covering this?

I remain fully invested

I found the results rather disappointing. At the investor event we were led to believe fleet revenues were going well - no mention of revenue warning then. Am I alone in wondering what has gone wrong with the Mix Telematics relationship? Tbh, I think management owe us an explanation. I'd like a clear promise from the management that there will be no further dilution. Someone is going to make a lot of money from this company. However, if there is more dilution and a share consolidation it won't be most of us.

This has to be Seeing Machines. Come on Sophie, where's that RNS.

Seeing2020,

What you say makes perfect sense. First announcement post split ought to go off with a bang and SEE are key. Any guesses as to which OEM it might be? Toyota? Honda? Subaru? Not that they will name it, most probably.

Just look at how highly Veoneer rates SEE on LinkedIn: "We believe in collaboration. Veoneer has one of the world's broadest safety electronics product ranges - and what we are not designing on our own, we are using partnerships; ZENUITY for ADAS and AD systems software (joint venture), ANBS for Brake Systems (joint venture), Velodyne LiDAR, Inc. for LiDAR, Seeing Machines for Driver Monitoring, NVIDIA for computer platforms, and Massachusetts Institute of Technology Age Lab for HMI related research. Together, we can create trust in mobility."

Perhaps we have been too conservative on the eventual take out price. Each of the SEE 'divisions' is a billion dollar business in its own right. A Tier 1 bidder, however diverse, is unlikely to pay top dollar. Perhaps a company that can see the potential in machine vision across multiple markets, would pay nearer £1-£2. We need some type of corporate event to crystallise the value here. For instance:

1) Low ball bid 23p-30p. Might make people realise that SEE owns auto DMS and they need it.

2) Could SEE sell a £100m bond to fund future developments? Once SEE market cap hits £500m bigger fund would start to pile in, sending price higher and then more funds enter. Sort of a virtuous spiral.

3) Licence Fovio chip for Fleet to a telematics company/truck manufacturer for a huge upfront payment. SEE retain control and get royalty stream. VSI continue to manufacture for existing Guardian units.

You get the idea.

What first impressed me about this board was the quality of the research and the willingness to discuss matters without egos getting in the way. Some have attempted to manipulate but were eventually sussed out. There should be room for disagreement but hurling abuse is a poor substitute for reasoned discussion. It would be a tragedy if we let one bitter person detract from a great forum.