Hi, new to the forums. I saw below there was several mentions of Magna not being able to request repayment of their convertible note plus interest instead of taking the shares at 11p. Why would that be the case? Why would they take shares at 11p instead of just taking their cash and then buying them off the market at 4.5p like they are available now say if the share price remains and getting 2.5 times their holding? I re-read the announcement and could see nothing in there that states they have to take the shares instead of requesting the cash back? Thinking I must have missed something! |
First half of 2024 over and still nothing new in terms of contracts. Six days to the new GSR and not a single Gen 3 contract. These guys have some explaining to do. |
Why is VW going to Rivian EV Moters for help over it's on board computer. I Have a top of the range VW iD3 and the camera will see a blade of grass or even a butterfly and before you know it the brakes come on. Even when it snows you've got to watch yourself because the brakes slam on. Pretty scary stuff. I have taken it back to VW but they don't have a clue. The onboard cruise control is not much cop. It doesn't cruise at a set speed. The speed can change when you drive . So 1 minute you're driving at 30 the next you're driving at 60 miles per hour. With an EV car the uplift to 60 is 6 seconds which can seem quite scary. The voice control system doesn't work as it keeps clicking in on words that you haven't said. So how can seeing machines cameras work with VW. This is why 4 billion pounds was paid to get help from Rivian EV motors |
Legislation is key companys must spend and we have a good product
i would hope for more contract wins in the next few mths |
While RNS was positive on the cash injection the downside was EBITDA will be lower than market expectations. The CEO mentioned profitability in 2025 and a lower cost ratio on overhead coming 6 months. If those targets are not met I suggest the CEO needs to stop making promises he can not keep.
The Vested options from 2019 roll on to 2026 shows what the CEO is like. He did not let them go but rolled over. Most CEOs if they did not meet those targets would generally let the Vested options go. Let's see what he does with 30 June 2024 options.
It is just an observation of the CEO. Seeing Machines the company has a good product, good partnerships, and Legislation making the Company well positioned.
Happy Investing |
We are all entitled to our opinions ,including nvhltd & we may not always like those opinions as they don’t suit our agenda .This weeks RNS was fantastic news in respect of the Caterpillar extension & clearly less positive in respect of the margin warning mix & the fact that the can will need to be kicked down the road for a while longer .However Paul reiterated cash flow break even in FY 25 & there remains much excellemt news to hopefully emerge over the coming months -so I view this week as a minor set back & for those eternal optimist yet another buying opportunity & I hope that Directors will take advantage of this hopefully temporary blip to add to their substantial holdings |
It is important that you believe in your statements nvhltd, as it is just as important that no one else here agrees with you.
I think that your constant negativity about this early stage technology front runner will only serve against you on this board.
Think longer term, 2026/27/28 will this stock still be worth <11p? |
I'm good thanks. Try and focus on the company. You're either happy with the share price and progress, which I cannot fathom why you would be or you accept they aren't delivering based on their own targets / statements / objectives / SP? |
nvhltd may I recommend you sell up and get out of SEE shares if you really are that unhappy, you are just wasting your time here getting it all mixed up and frustrating yourself badly. |
I also never said Magna can demand their money back, but at or by the deadline SEE either pay them back or we dilute at 11p. That might seem great considering where the share price sits currently, but it's nothing to be happy about.
The market and the share price tells us all we need to know about progress. |
I know perfectly well that camera-based DMS isn't a requirement for the coming GSR. That's precisely the problem. A camera-based DMS isn't required until 2026 unless it's for a new vehicle type, but it doesn't stop Paul banging on about it and raising expectations that we will benefit greatly. 330,000 commercial vehicles are registered in Europe every year and a beneficial driver is landing in 2 weeks time. We were also told 20 months ago that we have PO'S for hundreds of thousands of units, but still no confirmed sales to speak of.
Tell me where I am wrong with what we've been told to expect? |
Blimey nvhitd talk about glass half empty, please get the facts correct. Magna are committed and the conversion rate gives only a small dilution.
The share price is poor but so is the AIM market in general.
Not great that they have missed Ebitda target but that sounds like a small timing difference. |
 nvhitd - you really need to research SEE better. Magna cannot demand repayment of the loan nor the interest on the loan come Oct 2026. Read the terms of the agreement. It has a conversion price of 11p. Look at it as a deferred fund raise at 11p. For this Magna will end up with about 9.9% of SEE. Debt comes off the balance sheet and shares are issued and at 11p hardly dilutive. As I see it this loan was to help develop the software to work with the rear view mirror and future generation of it. It would be total nonsense for Magna to start all over again with Smart eye etc. Secondly, I don't think you really understand what July GSR deadline means for after market. It doesn't mean they have to fit a camera based system (direct) that comes in 2026. An indirect system, like a vibrating seat and audible sound may do if the diver takes their hands off the steering wheel. As we approach 2026, expect a rapid acceleration of camera based systems, as vans, buses lorries are mandated to provide direct camera systems. |
Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) had a 'buy' rating from Stifel reiterated after the company secured a $16.5 million upfront payment from global mining equipment giant Caterpillar for its Guardian driver monitoring product.
Alongside the contract, the AIM- and OTC-listed company also provided a trading update as the end of its current financial year approaches, where it said revenue and cash are set to finish "at or ahead of market expectations".
Although the final revenue recognition of the Caterpillar deal and the final outcome on automotive royalties it not yet complete, it is expected that cash EBITDA will be lower than market expectations, driven by a slower-than-expected transition from Guardian Generation 2 to Generation 3 aftermarket products.
Despite this, the board said the business has funding to deliver its business plan, with a cash flow break-even run rate still expected in the new 2025 financial year.
Stifel said the transition to the next generation of aftermarket products will have an effect on its forward estimates, which resulted in it trimming its share price target to 13p from 15p, though this noted "still has plenty of upside" above the last 4.7p closing price.
"As the company gets closer to cash flow breakeven, we think the shares will appeal to a much broader group of investors, which should have a beneficial effect on the share price," the Stifel analysts said.
"Seeing Machines remains one of our top picks within the sector," they added, noting that the shares trade at 4.1 times forecast sales for the current year, falling to 3.4 times for next year.
Sourced from ProactiveInvestors 26.06.24 |
Magna are unlikely to build a product heavily geared to joint IP, show it off tonthe world with See logos in it and then swap to cipia or smarteye. They are already huilding the next gen with alcohol.interlock qualified by see tech. You are just spreading FUD and embarrassing yourself just like you do when you post chippy comments on Linkedin and Twitter on See posts. How do you gain by doing that IF you hold see shares. Which i doubt or you are massivley over exposed for which you have yourself to blame. Rainbow chasing and illinformed |
Magna? You do realise we owe Magna $47 million in either cash or shares in October 2026? That'll fly by so we need to be making significant cash to pay them back or be diluted. If they choose to continue with SEE they will hold all the aces. We need them more than they need us. As pointed out we have 12 months left with Magna. There's no certainty they will continue with SEE. They could well be talking to Smarteye or Cipia. So they could easily flip to Smarteye next year and demand most of their money in 2026. Please don't tell me that's not a possibility. We only have to look at BMW to know that nothing lasts forever.
SEE just can't get anything right. As usual a positive piece of news is overshadowed by yet more bad news.
It's also plainly obvious by the lack of Gen 3 contracts that vehicle manufacturers don't want or need the system until they have to. No one can tell me that with 2 weeks to the GSR deadline that if it was being installed we would know about it. |
Pretty sour news about the EBITA, however most likely restructuring costs in releasing staff after the move. Clumsily dealt with by PMG as the reduction deserves explanation. The market obviously does not like this.
CAT deal is great.
Next up is Magna as that is due to expire in June 2025 so possibly another cash bump up before then as this was a bigger deal before. |
Well, currently there’s 1m, 750k, 250k, 150k all offered inside the price. Bid at 4.58 works in 25k and there is nothing at all below that.
So, I’m not sure the market agrees…! But let’s see. |
I get that ..... but Caterpillar wouldn't be paying $16.5m unless they needed this technology ..... also ..... cash and revenue to meet or exceed expectations .... so I don't see any risk of business failure.
Remember ... Magna is heavily invested here.
I honestly think that getting in here and tucking these away,
could be a real winner. |
heavily offered 750k in one place and more, one mm trying to prop up the book but no size on the bid at all and a profit warning hidden in the detail. What’s not to like? |
Just added at 4.6p :-) |
I was just about to post something similar smithless, though agree it's been a long haul.
Sometimes I think the large companies take advantage of these innovative smaller firms, with not as much clout.
However....cash in hand and much better than coming to investors and asking for more money.
imo |
My biggest immediate concern was cash and I don' think I was alone. The US16.5m from Caterpillar removes this. How much will Magna have to pay? As for Gen 3 and GSR, remember DMS is only a mandatory requirement from June 2026, until then a vibrating steering wheel and dash warning will do. As we get nearer June 2026 expect demand to accelerate. At the moment cash is king and SEE has ticked a big box for me. |
I think we have a shrewd idea...... |
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