Member Info for Seeing-2020

I have looked up some NCAP info, what we are looking for tomorrow in the NCAP ratings is "direct eye monitoring" rather than "indirect monitoring"

I think its tight for tomorrow. We were told VW went into production in March, obviously we don't know which models.

From NCAP website

The publication date of the Euro NCAP result is not later than 3 months after customers first receive their cars; If the rating is delayed beyond the 3-month deadline, the car being sold becomes eligible for testing."

The decision to make is whether you think the SP will be higher or lower in the future that it is today, based on your research etc one should make that decision, then man up and stop moaning about it.

If I didn't trust the CEO I would sell

Just for balance a few things he has delivered

1) The Magna investment

They supported a placing with a $10m investment off the back of the VW win.

2) The Magna deal

-$17.5m cash (100% profit)

- $47.5m convertible loan at 11p at a time the SP was 5.5.p

3) Magna 10% at 11p

- after the loan is converted they will own just below 10% at an average price of 11p

4) Collins

- he delivered a license deal with upfront cash with the biggest player in Aviation

5) Qualcomm

- partnership with QC which feeds our BMW win as an example

6) Shell

- Fleet deal with Shell

7) Mobileye

- Fleet partnership with Mobileye

8) CAT

- extended license deal with CAT with another upfront cash payment

That's all I could think off in 60 seconds

The guy is a deal maker, we are a tiny AIM listed company and he is doing deal with industry giants, he continues to have the support from me that his record deserves.

Glandore, Colin Barnden is on record that he expects the Golf 8.5 to have the Magna mirror and hence DMS from SM. Of course that doesn't guarantee it.

I think the best way to fact check is when we see the NCAP rating, if the DMS is "indirect" it's not eye tracking DMS, if its "direct" then it's SM.

NcAP release their next set of ratings on 3rd July, no clue if Golf or any other VW will be included.

I remember the first CAT license deal and the company has come a long way in the 9 years since.

We can easily forget about CAT with the excitement of the growth in auto, with BMW and VW ramping up numbers.

A few things I liked about the deal announced today

1) $16.5m cash upfront. In a time when it's hard to raise finance and interest rates are high this is great business

2) 100% margin

- the 5 year license deal will provide a total of $16.5m which drops straight to the bottom line

3) new areas opened up

"The changes open up access for Seeing Machines to sell its Guardian solution for on-highway vehicles directly and through its distribution network to select customers in many market segments of the General Construction and other core industries."

So again Paul proves himself to be a good dealmaker and that's an important trait in a CEO

Standard of deramping is really falling

Apparently Glandore didn't know a new Golf is available for order

Https://www.linkedin.com/posts/colin-barnden-1081376_dms-sitara-ncap-activity-7209517502379245569-MxQw?utm_source=share&utm_medium=member_desktop

Old, that's not correct, they have a legal requirement to announce market sensitive news via an RNS.

For a new design win, generally the NDA would atop them naming the OEM, so they would say "leading German OEM" not VW as an example

Interesting to re-listen to the autonocast Jan 22 predictions again.

http://www.autonocast.com/blog/2022/1/27/242-ces-roundup-and-2022-predictions

Listen from 52:45 for Alex Roys prediction

"Every DMS developer will get acquired in next 12 - 18 months, Mobileye will grab one, NVIDIA, Magna, they gave to"

That was 30 months ago

S2030, if you can't remember the facts correctly then probably best you don't post facts.

What you said was an 18% holder sold out at 12p

Which is very misleading.

What actually happened was HH was acquired by Pengana, this resulted in Pengala being a forced seller of SM as at the time SM didn't meet their investment criteria.

https://pengana.com/insights/pengana-updates-the-investment-strategies-of-hunter-hall-funds-to-deliver-better-outcomes-for-investors/

Misremembering facts can be dangerous.

S2030, thats not factual.

HH sold out in Oct 2017, the SP was around 3p at the time.

2018, the SP rose and spent a number of months above 10p, helped by news such as the BMW win. That rise was killed by the fleet RNS in Sept 2018. The good news from that was Paul joining the business in Nov 18 to sort out Fleet.

The next rise came in 2020 and resulted in an SP that touched 13p in Jan 21, the day we had the QC RNS.

Wise, Paul has never said he doesn't understand the markets, in fact in a past life he used to sell his services to advise companies on the markets.

What he has said is he can't guess macro econmic events such as wars, pandemics and famines which is fair enough.

Roy Holehouse

Today I remember our old friend Roy Holehouse, a great supporter of Seeing Machines.

It's his birthday today and I will raise a glass to him later.

A man of integrity and I miss his honest candour.

Rest well Roy.

Just got around to updating my Martin Ive tracker since his recent purchases

7.72m shares

Average 6.28p

Cost £484k

Cost A$932k.

Material holding by anyones standards.

No free shares, no options included, all shares he has bought and paid for.

He must be one of our largest private investors

Https://www.linkedin.com/posts/trucks-euro-ncap_euro-ncap-truck-safe-programme-v1-ugcPost-7196444026034626560-Q7th?utm_source=share&utm_medium=member_ios

Certainly, house broker Stifel seems very confident. Yesterday, its analyst Peter McNally put out a note summarising the positives:

“The highlight of Seeing Machines Q324 KPIs (Jan-March ’24) are Automotive production volumes which are up 51% or more than 105k to c.313k in just three months (+80% y/y). This is welcome news after a still healthy but slightly slower Q224 and is likely to affect the shares positively, in our view.The news comes with further reiteration from the company that it is on track to meeting FY24 (to June) expectations and continues to expect a cash flow break- even run rate during FY25. We make no changes to estimates as we approach year end but see this as positive given its main competitor recently pushed out its breakeven potential target by up to six months.The shares remain one of our top picks within the sector as we approach regulatory mandates for all new vehicle types in the EU. We think investors should take advantage of the current price given the shares trade at 4.1x EV/ Sales for FY24E or 3.1x for FY25E. Buy.”

He maintains his target price of 15p. 

Https://www.safestocks.co.uk/

Without giving anything away that he would get shot for if it was late, I liked the assured confidence.

I trust his leadership, that's why I remain fully invested.

Paul has been very clear its a doubling of cumulative cars on the road every year.

Thats the numbers I have used as its what the CEO has said on numerous occasions

Their job is to win the contracts and announce them as they did 3 trading days ago.

Then, they need to get said contracts to production so we see increased KPIs as we did today.

Not sure what your point is?

Exactly, long suffering shareholders have waited a whole 3 trading days since the last contract news