Member Info for NathanR999

A reverse into soligenix to gain a us listing and assets is not a bad shout (without doing a deep dive) at face value. Some interesting assets and one waiting fda decision by looks of it. Mcap is 5ish mill usd. A capital raise for the silk road asset and some working cap to support activity alongside Corp activity could be a decent route into further assets and a better pharma friendly capital market. Any income for POLB001 deals accepted which if that was decent upfront a big dilution would be avoided. Buy and build needs to work.for existing shareholders too. I don't want to be in a billion pound company where I don't see share price uplift each funding round. Mcap isn't everything if share count gets out of hand and long time holders get crumbs.

Excellent balance sheet and fantastic progress. A capital raise I feel will be needed to bring in the silk road asset and that may hold share price back for a month until we know what is needed. I think we need to have expectations of holding this for a good few years to get to that point ofnreal wealth building returns. Regardless of what some here think of cathal friel for those here via the in specie from hvivo and still hold both will certainly see the billion quid of value in total that was mention back in 2020. Investment is about patience and riding the train to the destination. Others may differ and prefer trading to make quicker gains and that's fine too. Gla

Listened to the podcast on my morning run. Very illuminating about JS and his motivations. Very likeable chap and can walk the walk on the science and seems well connected in the space we need to be. Has certainly been involved in DD for acquisiation and been involved in getting a company sold. Definately a bloke I could sit and have a pint with - I think a few here under estimate JS. Pharma deals take time and are unpredictable. See destiny pharma as a prime example. Flavour of the.month and riding high with really good p2 data but struggling to get a decent value deal. Good product but cold space and antibiotics are really tricky to get approved and business model hard for big pharma to stand as antibiotics are designed to work and ideally not be used again as patient gets better so rpt sales rely on new patient. With Cart and bispecific antibodies the space is really hot and will form backbone of cancer therapy for a good few decades. The cart therapy is eye watering in cost even with recent economic savings as these therapies scale. Polb001 could be just the right drug at right time. Pharma investment is tough for those on board and most PI have expectations above reality. Poolbeg in some interesting spaces and I am just hoping in licensing from the ex amryt team of cleared assets that generate income don't cost us too.much dilution

Maybe no more

https://ir.mobileye.com/news-releases/news-release-details/mobileye-wind-down-aftermarket-solutions-unit

I guess this division might be the one linked to guardian distribution?

Would imagine based on their cashflow and funding if they wanted to do dms their best route is via aquisition and Cipia being Israeli and cheap might offer best synergy and design wins already on table. Easier to integrate if backoffice or tech teams in same country. Tobii and smarteye in Sweden, see in Australia etc.

I would suggest that should we win a decent amount via valeo or magna for mirror or other neat solution then some NRE may need to be covered but the mirror route likely means minimal and more magna than us for input. If the share price miraculously goes north on back of breakeven and new contrast then I am not against 30% dilution for aquisition - my pref would be tobii. Stripping headcount and duplicated roles could add wins, tech ip and on road sales at a profitable level. Lot of road to run to get there without hitting any major humps.

market malaise, interest rate reduction likely pushed out. aim grottyness. cash burning currently, lack of news on more contracts. shareholders expectations not matched by share price action.

all out competitors in same boat. smarteye got a bounce based on money raise and some contact awards but way below historic highs. cipia/tobii similar.

some aspects - non off the competition likely to get built into flying in service aircraft anytime soon and type approval for aviation blue/red/black label ain't happening to any other company. if we ain't getting 300 aircraft our competition ain't even got to the long stay carpark. we are in checking que. later this year we are in security queue and then on way to departure lounge.

feel free to compare the kpi data we share actively vs tobii,cipia and smarteye.

there is not enough volume to meet 2026 requirements ts for all cars having camera. if we maintain 40% share then that's 4million per year and 1m per q.

not enough volume awarded for trucks for 2026. non of our competitors offer the data subscription add on.

non of our competitors sell into heavy duty mining.

pr could be better and auto procurement is ****e process.

delays around timescales leads to frustration with share price and management.

would i choose to invest in competitors vs see. no

others may differ and those bleating and moaning are free to sell and preserve capital and have had many months to do this and yet still here holding. cutting losses is investors 101 and those over exposed to a single share again.only have there own selves to be accou table to.

good luck all

one would guess it will depend on when the model went for ****logation and type approval and whether vw are going straight to dms via camera for all trim levels from get go and therefor meet 2026 rules early and again this depends on model refresh timing etc. we then need to p**** is all camera via magna mirror or other solution or are some models as part of mid run refresh maybe getting steering wheel monitor until model replacement in 2026. anything launching in 2026 likely hitting type approval in 2024/2025. the lag from prototype or directional design indications at a car show to showroom sale can be a good while and i would say type approved may happen a while before shakedown of manufacturing in small batch up to full production. where design wins and tier 1/2 contracts sit within that i guess is variable..hence the difficulty in timing announcements for see. the valeo adas/dms solution that has been liked by a few see employees maybe a platform compatible with cipia/see/smarteye in theory but the optical.path may have had input from see engineers and the reality it will run see software but we might not see that disclosed for a while. the mirror with magna can only be us and one would imagine after the 3 year exclusive ends it will renew especially if software and hardware need to work hand in glove. if the magna mirror gets top score in the section needed for euro ncap then maybe more contracts for europe will then decide award. placing a mirror maybe be quicker to integrate than a trim or secondary camera placement so decisons go to wire.

Https://corporate.tobii.com/newsroom/press-releases/2024/4/tobii-secures-dms-design-win-with-a-european-commercial-vehicle-oem

Maybe you should publish on here the kpi performance of all key dms providers to see how meh each of them are. We could compare Cipia, tobii, smarteye and see and hold them all up for review. Any one know the kpi performance of the others or just see.......

There was a message from an ex smarteye senior employee (sales director for automotive) that had moved on to another company asking for Colin to check facts on some of the assumed sop for see. It seems to have been deleted or its disappeared for me. Same person commented on a previous Colin post stating similar around 6 months ago whilst still at Smarteye. Not sure what that means.

With all the moving parts that a tier 1 has to align on camera and illumination can we absolutely define a see dms by illumination pattern. Is there enforceable ip.on illumination pattern or is that likely to be unenforceable in reality. Opacity on sourcing doing my head in!!!

Turnover c20mill in gbp for seye pa. As listed in Sweden most of the sites pull data as SEK as currency so needs a currency conversion to compare.

Seye market cap is 3bil SEK and closer to ours in GBP. C220mil gbp.

Gla

Https://www.linkedin.com/feed/update/urn:li:activity:7175850286341619713?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A%28V2%2Curn%3Ali%3Aactivity%3A7175850286341619713%29

Check comments from Allen lin.

Shared for context

Interesting comment on the Colin barnden linked in post on IIHMS rating for l2 auto driving and dms. Someone from GM commenting on the GM results suggesting that 2nd generation system uses smarteye. Who knows if just some models, all models, sub brands. Martin on his twitter video shares defo pointed at some GM vehicles on one of his car show/ ces walk rounds. Definitely will be ebb and flow on some of these contracts and relationships as models end and platforms replaced. Hasn't shown too much in their numbers but could this be the underperforming OEM mention on the ImC call last week.

Https://www.redeye.se/events/991881/live-update-smart-eye-in-light-of-the-recent-capital-raising

Portal to ask some questions for those holding Smarteye as well as See. Or just to be awkward.....

Have taken the lead from CFP and asked for Martin to be removed in light of his continual misleading of market? Am I doing it right? ;-)

Explains the drop in the week. Would say they won't have an issue getting it away maybe less than 10% disc. My maths says c10m GBP or 150m SEK.

With the current mood in the SEE shareholder camp I am guessing most have everything crossed, praying to their deity of choice and wearing their lucky pants in the hope that a few awards start pinging our way and we announce them. The Mirror solution with Magna on paper at least seems a really elegant solution and if it does as see and magna say it does should save money overall for an OEM. Any clues to when the new golf and ID 7 get their ncap rating that breaks out the score for DMS? I could see why other OEMs might be sceptical about performance as the optics to facilitate will be exotic and technically challenging and no doubt cipia and smarteye will be in tier 1 and oems ears saying it won't work or will be inferior. For 2026 there needs to be awards covering 10million cars for the eu regulation. Some have been done but whats the contractual gap that needs an award soon to cover eu at least? What is the true asp in the market really? Awards don't disclose volume against value as that would be commercial giveaway. What's still up for grabs??

Did a bit of digging on this blue label red label thing for Collins etc

I think it refers to the status of the parts/system and it s ability to be used in aircraft. Blue label is r and d and nit flight worthy. Red label is test flight status to go through certification and black label is.production/certified stage ready for roll out in usable plane.

Happy to be corrected by those with more aviation parts supply knowledge or those that have a bigger brain.

Suggests to me that not long to show oems or other avionics partners or systems integrators, bit longer for getting in an aircraft to demo to aircraft manufacturers and aircraft leasing or airline companies and a bit longer still until it hits first type approved flight deck. Long lead time but 30years of supply and parts/support. Revenues for this likely to be a while yet and value of this is an unknown but could be seriously material in time. All the verticals will add up.in time. My guess is the leap from aircraft to shipping esp large ocean going tankers, freight ships and ferry/cruise ships wouldn't be huge. Getting into a plane for out tech as part of initial build would be an amazing achievement and probably the.most difficult use case out there.

You are deliberately misrepresenting and misrepresenting the graph shown. US legislation is not set and just talked about. OEMs will be able to demarcate product by market. They do this already. The graph shows TAM based on assumptions of uptake and fitrate and vehicles per year. 80m cars will not have dms in 2028. Again spinning your woefully uninformed narrative. Now do the fantasy land smarteye numbers.