Member Info for Phermic

Don't agree. However, this is not the place to discuss. However, we both agree with their prospects :)

I have an interest in high growth IT companies. Those owning IP that can't be quickly copied. Interested in how companies without valuable IP are bid up to high multiples of revenue, by experienced boards mentioning the latest trends 'very carefully' :)

Your interest?

Well done with your gain.

Have no idea what was said to customers. I am talking about shareholder communication.

What are these signs??? Board have a record of misleading investors and Nomads. No recurring revenue streams and very small headcount. This is a drone survey company, hyping up newly developed IP that will take on the world???? This is a perfect 'hype & dump' share. I suspect you guys know this. Good luck.

Other investor types, do your homework. LOL

Really think Martin et al should stop senior Minoan employees from posting on here :)

The contracts announced (all with no value attached) are mostly paid pilots (ie Network Rail & Japan) and small 'Grants' outside of Australia. In Australia they appear to be for existing Drone surveying work although the Australian Rail contract does look more interesting.

No mention of any level of subscription revenues driven by proprietary AI IPR. Very reminiscent of the 'smoke & mirrors' announcements (claiming great success in the FinTech world) the Chair & Non Execs spouted the first time around. It soon became hard to hide the fact they had no FinTech contracts at all!!!

They remain on the board. Leopards & Spots? A profit is not a profit until its cashed!

The contract announcements from this company are often ambiguous! Today’s announcement is a continuation of a project to prove and expand the functionality of automation software. It is unlikely to be of any significant value even if its 4x the previous figure. However, this is very useful to MNO and much needed. Afterall, they need revenues / grants to advance the IPR they are building.

Investors (not day traders) need to be very wary of this management team, they have a very poor record of monetarising on the ‘valuable IPR’ they buy / create. The Chairs current strategy, involving moving a loss making drone surveying business into a ‘ subscription software & services business’ will be a challenge.

Bigwil

Not sure Martin will thank you for advertising one of his worst investments :). Also, as a company insider you really should not be posting on public chat boards!!

Yep, seen this before.

Bigwil7
Did CE put in hard cash or was it for accrued salary? If I were one of the poor souls trapped by CE, I would insist he put in actual ££££. They should have made that a requirement years ago. Also why are the largest shareholders not directors of TopCo??

At least the directors are participating. However, I have been bitten too many times by companies not producing free cash flow. One to watch, but from a distance.

Will be interesting to watch if these guys can deliver. Don't see share price improvement any time soon. Overvalued at present time (Equity + Debt) based on turnaround stage. Wish them well.

Smoking Joe - 'In addition, the Company is now engaged in discussions regarding multiple M&A opportunities, although these remain at a relatively early stage and no formal commitments have been entered into. '

Can you point me to the RNS where this was announced? Or is it going to be another Lucky guess?

Three contracts - the one announced on 29th Nov was for Drone business (Core business) which I am surprised deserved an RNS. Surely the company is securing drone business each month. Unless of course its material in value, but that was not given.

The one today is another 2month 'paid pilot' which follows an earlier trial with the same potential client announced in the circular. Positive of course, the AI technology needs loads of data in order to build a 'world leading' solution and of course will require substantial investment .

Candid

You sound like a board member. One that either is trying to mislead, and/or has absolutely no experience of AI solutions.

If I continue to debate then no-one will be able to tell us apart.

I do agree that the market is right in the end.

Candid

Its nice that a poster debates in a professional way, without resulting in insults. After all, we are all here for new insights. Thanks.

‘The need to analyse this data led to the development of a "deep machine learning" software platform ("Ci") launched in 2019’

Excellent sentence – says very little and gives loads of wiggle room. My experience tells me that they have just launched (key word) the Ci platform and boy, do they need vast amounts of data from here. They will also have to develop so many areas to make this scalable. This will require:

UI/UX designers
Front end Dev Developers
Back end Dev Developers
AI automation developers
Full Stack developers
QA Staff
AI training staff (could be outsourced)
Hardware engineers/developers

All will be needed to be managed by AI leads – hopefully PHD grads with loads of experience in companies that have launched successful AI products.

‘Maestrano will enhance the Ci platform with expertise in third party application integration and presentation dashboards’ – they let all their staff go!!! What expertise?

‘If things move very quickly and scaleability is needed they will become a Takeover target by an Asset Management company or Engineering company’.

Hmmmm, you sound like a board member (just joking). You have to prove scaleability first. If I were one of the Airsight guys I would be investing like mad while there is still cash, they will know that they must get to a viable solution by the next fund raising. Having a board around them that does not understand AI is no use at all.

Candid

In your discussions with the company, did (they) tell you the AI solution was a 'finished product'?

Candid / Lazy Gun

Nope, just work in this industry so have heaps of experience sitting on AI roadmap meetings. Just dislike BOD's out for themselves and not working in the interests of investors. Plenty around.

Dave85

How have they got this sorted so quickly? Red Flags:

No contract details - even a little more detail would have been useful. IMO, this BOD has form. Go back and read the early press releases :)

New AI (World leading product) solution - Where has this come from all of a sudden. Don't take my word for it, do some research. These solutions (the successful ones) need significant investment and time before a release benefiting the end client is truly useful. Given the target market you would prob. need 50 dev staff in order to get the product into shape in a couple of years. Say 20 software engineers (Hardware & Software), 20 Software training (could be outsourced) staff to tune the algo and say 10 PHD level data scientist/team leads etc to lead the way. In any event, it costs a lot of money. Why don't you ping the chairman a message asking for staff numbers and breakdown.

Day trade by all means, but a long term hold????

Totally agree. If you look at the published data from the acquisition (all share) and understand what it takes to build a 'world class' AI application. Then you would realise that the implication the BOD are trying to push into the market is utter bull****. They don't have the numbers of dev staff or data scientists to make this a success. However, they do need to raise money (lots of it) soon. If Airsight had this world leading application, then they would not have completed this transaction on AIM.

So passed with less than 15% of the total outstanding shares. Interestingly (excluding the Chair who could not vote for his deal) if you add up the two founders and the very small holding of the other two directors you come to the conclusion that one or more of them did not vote for this deal (with all the inside information available to them). Good luck all :)

BUY indicators:
* market cap (approx £1m) is well below current cash levels (£2.5m)
Thats because the board burned millions in 1 year on a solution that could not be sold - investors in at float obviously cheesed off!!!
* severely oversold territory, down from 15p IPO price last year to 1p
The board failed to deliver - lookup original float video on google - Chairman and other non-execs have not resigned and want another go??
* business has been re-engineered to target the growing transportation asset monitoring market
See above - same Chair & Non-execs want to retain fee income!!!
* in-house developed artificial intelligence capability will put it ahead of competitors
If the AI existed and was ahead of competitors - why did the vendors sell for shares here!!! PE houses would have given them far better terms - The Chair owns shares in Airsight???
* customers and partnerships to be announced over the coming months
Thats what you were told at the MNO float :)
* patented banking platform on hold, but this value may be realised via a sale or a future relaunch
What - with no employees that know the platform :)
* current funding runway will last into 2021
Exactly - to pay directors fees. Real AI dev costs lots of dosh, so I don't see the logic here.
* shareholders include a number of institutions, funds and VCT’s (approx 80% holders)
So - just means that can't get out at 1p per share!!
* very small free float willcontribute to a strong price recovery when it comes
Well- if you want to day trade for pennies then I agree but if for investment then this share should come with the very highest warnings.