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No actually because he would then have had to pay tax on deemed income of 7.5m x 3p ie £225000 which at say 40% wound be £90000. This way he essentially has bought at close to market price with virtually no
additional tax to pay.
It’s all extremely frustrating but on the basis that we've always expected a market share in the range 40-60% then SEYE we’re always going to win business so i don’t begrudge them that. It’s the radio silence on firm SEE news that’s galling me and for all the great research on here indicating growth in OEM volume SEE are either just not winning it or keeping shtumm when everyone else seems to be shouting about it. Why do we pin our holes on news coming at results time in October. We already know those and the company has this habit of recycling the same 2022/23 news 2-3 times - we’re almost at the 6 month stage for gods sake and we have had no indication of full year estimate or a clue about new contracts in the works. Magna/ Qualcomm $30bn pipeline/ Guardian launch …..Sorry to say it but even with restrictions they say they have from OEMs they really do a PI55 poor job on expectation management and PMG has to be the worse culprit in overproducing and under delivering - sorry rant over from a committed and long term holder - just be honest with us SEE
Isb - you know what you’re absolutely right and the truth is it’s us and other holders who are actually the market – all peppering ourselves with snippets of news to build that long term story. we’re all hoping will come to fruition. It’s the company however, that are really culpable in posting that article and not backing it up with hard news and contracts that would finally convince everybody else, this is really going to happen. Roll on 7 am every morning and that eternal optimism of the long-awaited R.N. S
The company is clearly happy with all the publicity !!
https://x.com/seeingmachines/status/1676455868232089603?s=46&t=4iTTGsTkdFoiL-buaEhdWQ
Just shows how confusing this all is - if that’s the case looks like we’ve had F’all out of our collaboration with Qualcomm - are we honestly saying that out of an auto pipeline of $30bn nobody has yet contracted to include the leading DMS/ OMS solution ???
Modest - it’s an observation i keep making. The other day this was posted proving again that SEE are definitely in their Snapdragon Ride suite. If that’s the case how is possible that no RNSs have yet been signed - we seem back to this rather opaque relationship between the two companies and how wins, if at all, are announced. Maybe on the basis Snapdragon is not going g in until 2024 they are holding off announcing.
I guess we’ll just have to wait until the regular Auto quarterly KPIs reflect tge exponential increase in cars on road.
https://youtu.be/-zu_uLDMV90?si=H-sLL6aEz_P-clJi
Been watching their price too - to be frank i have no concern that our prospects are inferior but what narks me is the relative market reaction to our respective results - clearly the Swedish market values DMS higher than AIM does - roll on 2024 !!!
Yes Indie collaboration announced in an RNS back on Jan 3rd
https://www.lse.co.uk/rns/SEE/three-collaborations-to-be-showcased-at-ces-2023-2xwhu481bo5ybe9.html
That’s great confirmation as i was starting to get worried Qualcomm had disappeared off the radar given no news whatsoever. Given their need to ramp up Auto to address their issues in smartphone sales bodes well again for 2024 and beyond
2024 clearly the year - not sure this was ever directly RNSed by SEE as i couldn’t match it but all adding up to a strengthening of our pipeline !
https://www.magna.com/company/newsroom/releases-archive/release/2022/02/07/news-release---magna-lands-industry-first-award-for-integrated-driver-and-occupant-monitoring-system
Maps, if only - unfortunately Tesla i suspect will continue to do their own thing which no doubt will still keep them low on the list for driver safety!
https://www.autoevolution.com/news/tesla-is-preparing-a-big-update-to-how-its-camera-based-driver-monitoring-system-works-214977.html
Despite our frustration at the lack of contract news it’s exciting sometimes to re- read past articles to remind us of what might be cooking in the background. Not sure we got the answer to Colin’s Match 8th date but with recent questions over Gen3 launch dates the relevance and impact of our 3 way relationship could be more significant than we all realise
https://www.linkedin.com/posts/colin-barnden-1081376_seeing-machines-partners-with-mobileye-to-activity-7028364668779802624-d35d
I just hope that Paul’s cash comments yesterday don’t come back to haunt him like his ‘imminent’ remarks. It’s great being able to count on working capital funding your business but it’s only a source of ‘additional’ available cash as Paul was implying if you can reduce your tied up WC over that period. Excess starting inventories perhaps but receivables might be tough with a growing business unless they currently have collection or terms issues.
Wishful thinking Seize - how can you put out a trading update today and not mention a new OEM contract - bottom line i’m afraid is that OEM take up painfully is slow - despite what we all think is the case re DMS mandate it’s not yet translating into commitments - just look at Mobileyes numbers - their supposedly out of date tech which is ADAS plus is going into more vehicles than ever, dwarfing our auto numbers, so clearly OEMs are happy to bide their time and stick with the old guard - let’s not forget also that most of the contracts we’ve actually won so far don’t kick in until 2024 but in truth the 1bn pipeline per annum we all got excited about has now become $321m which doesn’t give me the confidence yet that we can double sales every year. The market ( whatever that is ) was happy to take this from 5p to 6p in a week - now with what are good but not astounding numbers we’ve stalled just below that level !!! Really hope PMG will tell us something we don’t know but don’t hold your breath!
Great article Terry - with over half a million mainly fleet subscribers the lads at SM should get their backsides in gear and invest in a hasty trip to meet with Mr Stern to show them What’s in our Gaurdian box of tricks !!