The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
You should check the Qualcomm graphic on Telegram before talking such stuff. The Qualcomm contract looks huge. Every big OEM, Tier 1 and SEE the Only DMS supplier shown.
As to the reference that we know from Telegram etc etc i.e. KK - why trust what KK says? He's cut out of the picture because of loose talking issues. I certainly heard a completely opposite take on organisational culture at CMD than the self serving picture painted by KK
MrBB. Agree. In fact if you look at the slide show from Results the Fleet slide suggests a compound growth rate of 60% pa to 2025 [to hit 250k units].
The key info for me was the projected introduction of G3 and then the chip version by 2024. That suggests they are investing in the Product with a view to scale up. They have to. Having been thru the valley of death with this thing they now have to really attack this huge market asap. Getting the product cheaper and more elegant makes this possible.
Fleet as a fixed cost / contribution margin business is potentially a money printing machine. I think it has the greatest potential value of all the SEE businesses. At CMD, I spoke to a VSI guy - he said to me that Fleet is the thing they are excited about.
I note the key words: "in development":
"will be integrated with an in-cabin computer vision solution in development from Eyesight Technologies for fleets and Telematic Service Providers (TSPs)."
Guardian, for better or worse, has now been around for over 4 years as a sellable product. Given the challenges of the Fleet business, I don't envy newcomers who have to go through the learning curve like SEE did
Dilution is irrelevant. It reduced the risk and added corresponding capital to the Balance Sheet. It is more a question of whether the additional share capital will be utilised for effective growth and risk reduction - or not. The time is now. If SEE undercapitalise the Project then yes fewer shares but maybe a far far smaller cake.
I want a big cake. A very very big cake.
As it is Cenkos judged the discount rate [i.e. risk adjusted cost of capital] had fallen. Hence the Net Present Value rose. Therefore despite 10% more shares, the NPV per share rose. Hence the share price valuation went up despite no positive amendment [yet] of the forecast cash flows from enhanced revenue possibilities.
PM takes a big chunk of his remuneration in shares. That is logically identical to agreeing to receive a higher cash salary and using it to buy shares i.e. he has skin in the game.
VSI and its directors have approx. 10% - they do due diligence, visit the Co often etc. More skin in the game.
Hermes put in US$20m. If this turns out to be BS somebody at Hermes will suffer career damage. Skin in the game - they do due diligence.
Lombard Odier have 20% - ditto reasoning.
If you need the Director to be buying shares to have belief then perhaps you lack the method to evaluate the investment. It is your investment call - not his. He may be a dunce after all.
PM takes a big chunk of his remuneration in shares. That is logically identical to agreeing to receive a higher cash salary and using it to buy shares i.e. he has skin in the game.
VSI and its directors have approx. 10% - they do due diligence, visit the Co often etc. More skin in the game.
Hermes put in US$20m. If this turns out to be BS somebody at Hermes will suffer career damage. Skin in the game - they do due diligence.
Lombard Odier have 20% - ditto reasoning.
If you need the Director to be buying shares to have belief then perhaps you lack the method to evaluate the investment. It is your investment call - not his. He may be a dunce after all.