Frontier Smart Technolog... Share Discussion Threads

[felix1] 24/7/2017 11:30

On share options from what I can see:• those issued this year have an option price of 78.5p (the price at the time) but only vest if the share price exceeds 160p for at least a month. • those issued in 2014 have an option price of 10p (new money) and vest over a 3 year period from Apr 2017 (or in the 10 years following) provided the share price exceeds 600p (for half the options) or outperforms the FTSE Allshare by between 25% and 50% over the vesting period (for the other half). Complicated but employee option schemes always are. There were options before 2014 which I haven't fully analysed but those above at least aren't a gift: they do have to be earned by getting the share price up. When calculating the cost of options you do have to remember to deduct the option price. On those issued at 78.5p if they reach 160p to vest then the gain is actually 81.5p per option not 160p.

[felix1] 24/7/2017 10:12

The automotive DAB chip manufacturer I was trying to recall is NXP. NXP are actually Dutch and appear to be in the process of being acquired by Qualcomm. It seems they are long-established automotive integrated audio chip suppliers and so were well positioned to capture the DAB opportunity when it emerged in that segment. Car manufacturers are pretty conservative with long lead times on their products so I don't see FST changing that situation. FST do however address the after-market automotive suppliers and have specific products for that segment.

[adventurous] 24/7/2017 07:38

Exactly how much money has Sensium made since they removed the cash drain, zilch. So their bonus shares have been well and truly covered!

[nod] 23/7/2017 10:29

Kenwood is a big player in automotive. Who supplies their DAB chips?

[birkenhead] 23/7/2017 08:20

"MMs trying to generate activity?" Sniff, sniff......ah, BS again! A share price collapse of over 10% is more like Mr. Market slashing his expectations for 'materially ahead of expectations' after 3 months of no new contracts & no significant news!

"I think the factory-fit car radio segment is the one area FST haven't captured and there is an Asian company addressing that, though I know FST address the after-market. Does anybody know more about this?"

Good point but... duh, yes, your good friends AS & JA do. Why don't you phone or email them & see if they'll deign to actually reply & do something to deserve a few of those options?

Regarding Loldemort's point about the options,

(felix1, are you the pathetic tool that gave him the thumb down?)

the criminal insanity of AS & JA gifting themselves
(oh, sorry their cohorts on the 'independent' remuneration committee gifting them)

750,000 and 370,000 options, respectively,

simply means that they are holding shareholders to ransom and robbing US of OUR higher share price and dividends of £1.79 million just to get the share price back to 160p and £4.592 million to finally get back to the 410p/10.25p they started at

before they botched & gave away our Sensium crown jewels.....and on top of their 'hyper-inflated salaries.'

As Dr. sweenoid would say, that's a lot of friggin' radios, boyo!

750,000 x 1.60 = £1.2m
370,000 x 1.60 = £0.59m
Total = £1.79 million

750,000 x 4.10 = £3.075m
370,000 x 4.10 = £1.517m
Total = £4.592 million!

[nod] 23/7/2017 00:20

Annual Report page 11"At 31 December 2016 2,060,469 share options were outstanding with a weighted average exercise price of 66p."

[felix1] 22/7/2017 11:15

MMs trying to generate activity? At least the spread has narrowed but this stock is still well below the radar of most so without news to stimulate some trading the MMs will do that sort of thing. A buying opportunity perhaps?German investment in DAB continues:http://go.newbaymedia.com/e/262762/-expands-dab-mux-network-39076/2yw9n/292151183

[loldemort] 22/7/2017 04:46

I see we're doing the steady drip, drip fall thing again. Really, have they no shame?

[felix1] 21/7/2017 14:40

Update on DAB take up in cars:http://go.newbaymedia.com/e/262762/ults-consumer-experience-38993/2p2yv/245658919I think the factory-fit car radio segment is the one area FST haven't captured and there is an Asian company addressing that, though I know FST address the after-market. Does anybody know more about this?Regardless, DAB uptake in cars bodes well for the wider DAB market.

[felix1] 21/7/2017 13:44

I get your point about the options, but they are just options. The additional shares aren't issued unless the options vest, which usually means the recipient or company has to achieve a certain goal. In this case I believe someone reported that the options are at 160p so they won't be exercised unless the price exceeds that. After a 70%+ rise in the share price will we worry so much about a few percent extra shares being issued? On the other hand it's also an indication of where the Directors hope to get the share price. Though 'hope' doesn't mean certainty of course.

[loldemort] 20/7/2017 15:46

I don't agree about the share options. I try to think about it as I imagine an economist would (so, very sorry if I have got it wrong).

First, because they increase the number of shares in circulation while not increasing the value/assets of the company, nil- or low-cost options constitute a kind of inflation. As with all kinds of inflation, the holders of the existing float (us!) are always the losers.

Secondly, and for the same reason, they constitute a transfer of a portion of the value of the company *away* from us and *to* the grantees. They are a kind of private tax in other words.

[the drewster] 20/7/2017 10:05

Meanwhile we get ever closer to learning just how materially ahead of expectations the business genuinely is.

Expectations (as they kindly clarified) were for EBITDA of £1M ... alas, materially has no scientific definition when it comes to FCA rules (certainly none that I can find).

£40M market cap could look very cheap if their "prudent" view of H2 proves overly conservative too, and maybe they can trigger their options (requires 160p) after all.

[birkenhead] 20/7/2017 07:43

"Increased my holding ahead of an expected trading update in late July." (felix1,5 Jul)

No wonder you're such a smug, bitter, miserable, boring & unoriginal to$$er! Do you have anything other than a worthless one-liner or copy & paste to contribute?

[felix1] 20/7/2017 00:33

Don't give up the day job.

[birkenhead] 14/7/2017 22:15

With no contracts for over 3 months and a dubious strategy of scavenging for the few crumbs left by Amazon & Apple, shareholders & Mr. Market seem to have lost the will to live as the share price flat-lines at less than 2.5p from 10.25p - but at least AS & JA are enjoying their bloated salaries & undeserved options. In a futile attempt to ease the pain & relieve the tedium, I give you:

The Ballad of Johnny Apps

Come and listen to a story 'bout a man not named Jed
Poor accountant always kept us in the red
Then one day he was “working”; for Toumaz,
And up from the board come a bungling award
(Options that is, black money, Toumaz tea)

Well the first thing you know old Johnny's a millionaire
‘Kin BoD said Sensium move away from there
Said FST is the place AS & JA oughta be
So they backed up the truck and they awarded themselves some more
(Options that is, swimming pools full, mega farce)

Well now it's time to say goodbye to Johnny and all his ‘kin (... BoD)
They would like to thank you fools for kindly paying in
You're all invited back again to this 9am AGM immorality
To have a mumbling helping of their self-serving hospitality

(Frontier Smart Technologies, that's what they call 'em now,
NOT Nice folks… Y'all wake up now, ya hear?)

[chillpill] 08/7/2017 18:35

It's going to be great having the Americas Cup in AKL...assuming it is confirmed shortly.

Great that the Lions did so well. The Kiwi public have been a little suprised by the strength of the defence. I think the domination by the NZ teams in Super Rugby had lured they into a state of false security. Still the best team in the world but are beatable.23 years unbeaten at Eden Park is some record.The red army have been fantastic.

[crashbang] 08/7/2017 18:17

Nod. I'd have taken the draw at any point of the tour or before but it feels like a defeat all round. I think the AB felt the pressure and failed to convert and we just weren't quite good/clinical enough. Great games to watch though.

[nod] 07/7/2017 23:43

Big game in Auckland tonight.

The Lions haven't won a series in New Zealand since 1971. In that team were Barry John, JPR Williams and captain John Dawes.

The Lions supporters were able to join in the America's Cup Victory Parade in downtown Auckland on a showery Thursday. This was Emirates Team New Zealand's first victory since 2000. Sweet revenge over Oracle USA. In one race Team New Zealand flew above the water for 100% of the race.

[sweenoid] 06/7/2017 22:09

But don't forget to work out how many radio's have to be sold to pay the hyper-inflated salaries of the board!

It's a lot!
S
:-(

[felix1] 05/7/2017 12:57

Sahaga releases automotive after market DAB+ radio. This is their latest product and as they list FST as a partner it's safe to assume that their DAB products use FST chips.

[birkenhead] 04/7/2017 11:01

Never mind the NZ bollix (traitors!), here's the Swiss population....8.3 million

Patrick Hannon‏ @PatrickHannon3 Jun 29

'3 million digital radios sold in Switzerland - significant milestone'

Are AS & JA on a 3-month summer holiday? Mr. Market does not seem to be too impressed by the dearth of new contracts...

[nod] 30/6/2017 12:12

That's true.Not to mention the best sailors.