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Soul they're selling into volume. They couldn't sell at 8p because there were no buyers and the price would have collapsed. If they have a lot of stock to shift they need to sell into the rises - or risk getting locked in for longer than they want.
Wasn't Waymo the customer in the original announcement in 2018:
"Seeing Machines has signed an agreement with one customer and is in advanced discussions with a number of companies at the forefront of autonomous vehicle development."
PM44 - I must specialise in investing in companies with cutting edge technology, with BODs who are unable to capitalize on it! I recognise your handle from the SEE board - where I'm 10m shares deep!
Skid35 - Simon Thompson had a decent write up on 23 October which, along with Andrew Hore's '10 bagger' article, led me here.!
Hi all. Newbie to KMK here. The early buys (500k) this morning were me. It's been tipped several times recently and after some research over the weekend (and watching the CEO video), it seems too good to be true! Looking forward to the months / years ahead!
AllAtSea - The answer was in the same document.
"Seeing Machines plans to start shipping driver monitoring systems in 2020 with added capability for driver ID to enable personalization of cockpit features such as audio, seat and mirror position."
Surely AVs will want security and personalisation?
In March 2018, BMW choose Aptiv. Safestocks (correctly) calls it a win for Seeing Machines.
In September 2018, FCA choose Aptiv. Viktor calls it a win for Smart Eye. This assumption appears to be based on the fact FCA are getting the cars to market quickly. But is our chip not ready?
Safestocks' view on this would be greatly appreciated.
Here's the excerpt from the recent Cenkos note:
"A key point here is that not one commercially sold vehicle will upload DMS footage to the technology supplier as customers will not accept being monitored in their car with other people potentially able to see the footage. However, in comparison, fleet drivers have no choice as it’s not their vehicle. The value of obtaining data through a commercial fleet product been potentially recognised by Denso which has recently announced the launch of a fleet product."
My take is the remainder of the business isn't for sale - at least not now.
They haven't said what they think the value is post-Auto, only to say Fleet could be as big as Auto.
My humble view is they're now ready to let Auto go, allowing them to focus on building the remainder of the business into similar sized entities.
The stumbling block in the past was IP - but we have a lot more clout after proving our tech with GM, Mercedes, BMW and Ford.
The report is clear that the valuation of 30 - 50p is for the automotive business only.
"To provide greater insight into the value of the automotive business we have split it out to give a separate valuation. ... The value ... to a larger profitable entity ... would be 30-50p per share."
It states Fleet has "as much potential as the automotive business", but there's not a single mention of Rail or Aviation in the entire report.
If they were selling the entire business, they would provide analysis of each vertical and attribute value - like they did with a 22 page report on Automotive.
Is the spin off back on?
GB2 - I'm also keenly aware of those two dates. I appreciate it's all conjecture, at least on my part, but I'd be very grateful for your thoughts and how you think this might play out. It certainly looks like we're been tee'd up for a sale in H2 next year, but at what price?
Haha I'm at home at the minute if they wanted to call round and collect them for the right price! I'd like a nice sustained rise over the nice 10 months, underpinned by contract wins, followed by a takeout at a premium.
Totally deserved! They've probably been on meagre salaries for years whilst the company was being built from the ground up! I'm just curious as to the motive. For example, why the accelerated vesting for the founders - they still get the same amount of shares? Is a plan being hatched for a changing of the guards early next year with Paul & Co. staying on for the operational side?
Does anyone have any more details around the above? I've just re-read the RNS and noticed the addendum - which states Paul A received 11,148,750 shares on 15 June 2018. Have I read this wrong? In principle I think it's great to incentivise staff. I'm just wondering if it protects us from an early sale or makes it more likely? Thoughts anyone?