Member Info for Seeing-2020

Their words not mine

"The Board of Directors regards the existing working capital as being insufficient for Smart Eye’s needs over the coming 12-month period"

I'm 50/50 they don't get it across the line and go bust.

They needed a backer and clearly couldn't get one.

Even if they raise the sek325m it won't be enough as they always miss financials

Reads like a profit warning

"However, the Covid19 pandemic and its consequent effects have indirectly and directly resulted in several challenges for the Company lately, and primarily within the Automotive business area. Among other things, this includes shortages of components and travel restrictions, which have affected the global automotive industry negatively in the broader context. OEMs have experienced declining sales a result of the delayed start of production of new vehicle models and in some cases also temporarily closed automotive factories. The consequence for Smart Eye has thus been that the implementation of the Company’s software for DMS and Interior Sensing, as well as licensing revenues from existing design wins have been postponed. Hence, commercialization of design wins is expected to be realized later than originally estimated."

Richard Griffiths owns 80% of Adams

Substantial Shareholdings
By virtue of his shareholding, Richard Griffiths exercises control over the Company. The Directors are aware of the
following persons, who had an interest in 3% or more of the issued ordinary share capital of the Company as at
6 July 2022:
Richard Griffiths 80.3 per cent

Lewbo, the 32 roles on the website, many of which might need multiple people doing the same role, suggest SM know what's coming.

https://seeingmachines.springboard.com.au/jobtools/jncustomsearch.searchResults?in_organid=18900&in_jobDate=All

They have been very clear with providing data imo.

The 2 key metrics for auto are:
- The cumulative initial lifetime value of all OEM programs that Seeing Machines has won to date now stands at A$395m
- Cars on road increased by 204% over 12 months to 559,302 units (Q1 FY22: 183,517)

They update the 'lifetime value' with each design win RNS, personally the name of the OEM doesn't really matter we can generally work it out, the market will care most about the volumes increasing not the name. Cars on the road they last updated way back in Nov 2022

Paul has done lots to improve the business and whilst that hasn't translated into a sustainable rise in SP just yet he has a clear strategy that he is delivering on. For anyone who thinks CEO buying shares will suddenly have an amazing impact of the SP should look at SEYE SP and the fact that MK has a large holding, doesn't seem to have helped.

The Magna deal was the best RNS in my 10 years here and Paul delivered that, so respect to him.

Michael Brown is a board director so AIM rules require every trade to be announced via an RNS

Shareguard, from the KPI RNS the "sold not connected" is 9,698.

The 29k is new supply of stock that will be sold over coming months, they will have some pre orders so we will see a spike in sales volumes

Seize, we have a history of "significant" RFQ wins pre a license deal, for example the $125m VW win via Magna International and then we followed that up with a license deal.

Good to hear the view from the industry expert

https://www.linkedin.com/posts/colin-barnden-1081376_seeing-machines-ceo-talks-new-performance-activity-7002962209953718272-oKye?utm_source=share&utm_medium=member_desktop

He used the word "unique" so it's not just SEYE but Cipia or anyone else.

imo to land a large design win I would expect the Tier 2 to be able to prove they have the resources (cash and people), simple fact is that only leaves SM

No, from the proactive interview

Very Strong close by Paul

Auto:
"at London recently I mentioned 6 new RFQ, that's now 12" .... "no stopping that business now"

Fleet
"Stock issues fully resolved"

Aviation
"we are currently dealing with our first significant RFQ for Aviation"

https://www.proactiveinvestors.co.uk/companies/news/999495/seeing-machines-ceo-talks-new-performance-indicators-and-focus-on-annual-growth-999495.html

Ian Rush says if you don't drink your milk you will end up invested in Smarteye

I would also like to apologise if my earlier post stating their win was 100x less than VW was seen as deramping SM.

Correction their was 200x smaller than VW

Think this correction makes it the smallest DMS win ever, called kn their bs for once it seems

Lol

Correction: Smart Eye Announces New Driver Monitoring System Design Win with Premium European Car Manufacturer
The correction refers to a mistake related to the estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms.
The correct estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is SEK 4,455 million

Over the years I have been criticised by the DeRamper brigade for not taking SEYE & CIPIA seriously, however I did take them seriously I did lots of research and conclusion was that they would not be competition to SM.

Smarteye made many mistakes which is why they are about to run out of cash
- Poor acquisitions, overpaid for Affectiva
- Fleet launch 20 years too late, still pre revenue
- Lack of investment in R&D and HF led research
- Not being honest with the markets re design wins getting to SoP or not
- assuming they would win follow on contracts with their main OEM, BMW which moved to SM
- Focus on low end China market

Cipia are a bit better in my view and seem to have eaten the SEYE lunch in China but in my opinion they don't have the capacity (engineering resource) for one $100m+ design win, never mind the many such design wins that will be rewarded.

So, SEYE don't have the financial resources and neither have the engineering capacity to cope with numerous $100m+ design wins, for context just one at that level would be 100x the SEYE announcement today.

So why is this important?
Well we get told about dual sourcing and OEM's not wanting a monopoly, so assuming SEYE survive (todays $200k a year over 5 years won't help) perhaps the likes of VW will do 95% SM, 5% SEYE or Cipia, still dual sourcing just not the 50/50 some many have assumed.

So, I don't sell any shares, I add when I can and hold, imo the big design wins are coming and I trust my research on who will win them.

In the OEM segment, the 112,077 vehicles produced with DMS in the
quarter represents around 6% growth on the previous quarter. This growth rate is
expected to accelerate significantly as more different vehicles incorporating Seeing
Machines DMS technology are launched and produced. This growth is still
anticipated to enable the company to reach our automotive expectations for FY23E
which are based on 0.96m vehicles. In the Aftermarket segment, Guardian
connections and sales remain relatively subdued as anticipated. The company has
clearly flagged its supply constraints which it is reporting it has resolved with a
significant hardware delivery which is expected to be received before the end of
calendar 2022. The company also notes that whilst the rate of connections remains
slower than hoped, as its customers continue to deal with timing of supply and
effects of the pandemic which are still impacting the transport and logistics sectors.
With an expectation to see more normalised activities over the fiscal year, and
29,000 Guardian units delivered before the end of the calendar year, our FY23E
expectations which are based on 64,332 connections, with only 2,500 hardware sales
not connected, could well prove conservative. We retain our Buy recommendation
and 24.3p price target.