Seeing Machines Share Discussion Threads

[2xs] 23/4/2024 11:03

SEE owe Magna $47.5mm. This is due in 2026. SEE can opt to pay the interest in shares. Magna can opt to receive either cash or equity for the principal. If it is equity then the SEE price used is 11p.

[masarap] 23/4/2024 11:00

Skinny, thanks. It's not crystal clear but it looks like the word 'may' suggests Magna can insist on repayment as opposed to being obliged to convert at 11p. These CLN's generally have all sorts of caveats. In reality, they are likely to convert but with a re-negotiated conversion price. It's not completely clear but that's my interpretation but please dyor. I thought at the time the 11p conversion was too good to be true as it was significantly higher than the share price at the time. They have drawn $30m of the available $47.5m and have until Oct '26 before it matures.


"Magna may elect to convert the principal and at Seeing Machines' election, interest outstanding under the Convertible Note at any time during its term, up to a maximum of 349,650,350 shares which, when added to Magna's existing shareholding in the Company, will represent approximately 9.9% of the fully diluted share capital of the Company. The Convertible Note contains standard covenants, and anti-dilution provisions. The interest due at the end of the facility can be paid in cash or converted into equity at Seeing Machines' election ."

[smithless] 23/4/2024 10:20

amt- not sure it is anything to do with mkt cap, as Smart Eye capped at £217m (been following for a while and looks suspect, as nothing ever seems to come to fruition). Cash burn is an issue and although SEE state high teens cash for H2 2024 and below 1m cash outflow per mth thereafter, I think Mr mkt is not convinced. Obviously Magna's licence runs out nxt year, so it may be able to do a deal with them. All very depressing, but its always been volatile, but they are market leaders in a huge mkt going forward

[skinny] 23/4/2024 10:15

I believe this was the last mention?

[masarap] 23/4/2024 10:02

Could any holder clarify whether it's SEE or Magna that has the option to choose between repaying the Convertible Loan Note (CLN) issued to Magna or allowing Magna to convert it at 11p? Clearly SEE can pay it back but they will just let Magna convert if the decision rests with them but can Magna insist on repayment?

From my understanding, it's SEE that has this choice and it would place the company in a favourable position. However, I've come across several posts indicating that the decision lies with Magna. The share price at 4p also indicates that SEE might be forced to pay back. I don't currently hold any position, but I have been following the company for a while.

[amt] 23/4/2024 08:30

Very disappointing. Fortunately I sold half at 5p and bought Bango which is up 25%. The problem is the high market cap and potential need for cash if they don't meet targets.
One of many recent disasters in the market I am afraid. I need a big success and have chucked everything at Bango. Not usually good practice but I am convinced.

[jpuff] 23/4/2024 08:19

Heading to the 3's now. Something is not right here! It's a slow motion car crash as I said before! Hope I'm wrong though as I do hold from 12p.

[skinny] 23/4/2024 07:34

jmoexpress - who knows, I'm now flat - but I've been holding for a decade!

[hope1815] 23/4/2024 07:02

On the share price, fall since 18 March both Smart Eye AB and Seeing Machines have fallen almost the same % have you compare.

Smart Eye 18 March 2024 100.10 Sek 18 March 2024 77.90 Sek

Seeing Machines 18 March 2024 see 5.05 18 April 2024 4.29

People worry about the share price of both companies but for me, it's the longer-term view. Which company has better partnerships in the Industries(Fleet. Planes, Cars)? Looking at the longer term view SEE order book unwinding which is translating to cars on the road which leads to Revenue and Royalty.

On the entry point 4 pence is low but as the months roll on and results come in people may look back and think.

Happy Investing

[jmoexpress] 22/4/2024 18:33

Good entry price then Skinny?

[jmoexpress] 22/4/2024 18:11

//t.me/seeingmachines

[smithless] 22/4/2024 15:46

Smart eye up nearly 5% today.

[skinny] 22/4/2024 13:44

The low today (so far) is 4.04p - I believe the last time it was lower was 20/10/20 @4.03p!

[snpout] 22/4/2024 12:21

Apparently there’s a telegram group for seeing. Anyone know how to get on it. It’s private I think

[alangriffbang] 20/4/2024 12:28

Masterfly7 I’m the opposite to you I’m topping up at every dip they’ve a great product ,good luck,

[masterfly7] 19/4/2024 17:36

23.5% down YTD. This really does seem to be a one way slide. Everyday it’s red with no respite. I’m out from Monday.

[nvhltd] 18/4/2024 06:58

Based on Paul's statements over the years and the resulting decline in the SP, which is the only KPI I'm interested in, you would have to say Paul is at worst a liar, deceiver, fraudster or a conman and at best a failure, an idiot, naive, thick or just stupid at best.

His catalogue of missed targets and statements are the root cause of where we find ourselves now and trust in him and his leadership is waning. You would think, pray and hope things will come good if for no other reason than the legislation that is coming, but patients is wearing thin which is demonstrated by the share price decline.

We have to thank our lucky stars that legislation is on our side because without it we would not survive.

[smithless] 17/4/2024 09:48

gutterhead - I think that clown goes to Martin Krantz of Smart Eye. As for jam tomorrow..........some impressive OEM's and tier1's believe in them. I must admit I thought Lombard would have started buying again by now. Needs news flow, until then momentum traders and waivers have it.

[hazl] 16/4/2024 19:02

mm92
7 Apr '24 - 12:37 - 19305 of 19311

Great post mm92.

I think the management are great at their job but perhaps put that before commerciality.
It has been a long time on the market, for investors.
Nonetheless fascinating technology.

[davemac3] 16/4/2024 16:15

looking a bit grim here share price wise