I'm not running the company so you could say much of what the ceo says, predicts or promises turns out to be wrong. It's those promises and statements after so many years that are most definitely tiresome.
Where's the 330 aircraft deal? Total BS. There's not even a product. This is the quarter they are meant to have a blue / red label product so he was lying through his back side.
Then there's all the lame excuses why new OEM contracts are delaying. The end of last year and the first half of this was going to be very busy based on their "confidence factors" and what was "in the hopper". More BS, but definitely busy for our competitors.
Then there was Gen 3 and all the PO'S. Pretty much diddly there too despite GSR.
Then there was the cash flow breakeven in the first half of FY25. Now it H225 if we're lucky.
Then people wonder why their investment is trashed?
A cash raise of some sort or other is coming before we get to breakeven. |
Some BBs get infiltrated with negative posters who become obsessed with trying to convince us all they are correct.
I think NVH seems to fit into that category and much of what he writes has turned out to be wrong. It does get rather tiresome after a while. |
You clearly have an agenda or no life. Why don't you go away from here, try and find a life and do us all a favour x |
But surely it won't worry you cos younsold out because of the impending bad news. Right? In fact one could ask why are you still here moaning on? |
If we do a similar deal to the renewed caterpillar then we are royally screwed. |
An alternative scenario to the Magna loan note is (remember this is not due for repayment until Oct 2026) SEE does a similar deal to what they did with Caterpillar. By 2026 the whole competitor landscape will have changed, as the like of Smart Eye etc are going to find its next fund raises more difficult or not impossible, especially as some highly suspect announcements where made leading up to the raising of said cash. Once Institutional investors start to break ranks, the show goes to pot. |
Nvh it wasn't long ago you were singing the praises of Smarteye, now you write they are full of BS. |
If Magna are going to extend,& they have demonstrated great commitment to See by signing the 3 year investment in the first place-so why wouldn't they extend,I would expect the extension to be resolved long before the expiry date of 30/6/25.
An extension would remove any uncertainty in this respect,generate some cash flow &/or reduce some the debt due to Magna |
If you need a reminder about the cash flow breakeven point go to the results presentation on the Investor Meets platform for Oct 2023 and then listen carefully from around the 31 minute mark. Here Martin Ive clearly states that if they hit their targets then cash flow breakeven would be achieved in the first half of FY25. If they are hitting their numbers we are literally 4 months from breakeven.
Unfortunately, however, we know that they aren't hitting their numbers and Paul said cash flow breakeven might take one or two quarters longer which would take us to the end of FY2025 (June 2025).
This is the same month that the Magna deal terminates if it isn't extended and leaves precisely 12 months for us to raise $47 million to payback the CLN if they choose not to convert. |
Just 10 more months of the Magna deal and just under 24 months before we might need to pay $47 million back to Magna if they choose not to take up their investment at 11p.
So we might just be cash flow positive in 12 months time, but 12 months after that we might need to find $47 million or get diluted.
Plenty there to depress the share price |
Let us hope that they have got this part right......
".....Despite this, we are well placed going into the new financial year and reiterate our expectation to achieve a cash flow break-even run rate in FY2025......" |
Over 15 million cash burn in H2 That is Shockingly high cash burn |
Key Financial Highlights:
- Reported Revenue for FY2024 is expected to be US$67.6m, representing a 17% increase (FY2023: US$57.8m) and in line with market expectations[1]
- Annualised Recurring Revenues increased by 11% year-on-year to US$15.1m (FY2023: US$13.6m)
- Cash at 30 June 2024 of US$23.5m including receipt of US$16.5m license fee from Caterpillar
- Receivables and accrued income at 30 June 2024 of US$31.5m
- Further to announcement on 26 June 2024, EBITDA loss expected to be in the range of US$17-19m |
So you have sold out ready for the bad news, right? Right? |
Lots of focus and negative chat around Smarteye today. Throwing stones in glass houses springs to mind. Smarteye might be full of BS, but then again so is PMG.
If profitability is delayed further then the CLN starts to become more of an issue with Magna.
See needs to start winning contracts and fast if the 2 year engineering process is still relevant before SoP. We've been stuck at circa $300 plus million for ages now and yet the company wants us to believe that the market is now in the second wave of a circa $2 billion market size, the first half 2024 was going to be busy for new
contracts and profitability was going to be by the end of this calendar year.
Bad news is coming next week. Let's hope that it's the last time. |
So you have sold out ready for the bad news, right? Right? |
 In my experience delays announcing financial results and information are never for positive reasons. The one thing we can rely on SEE delivering is more delays or bad news. The separation of the the last quarterly update was to separate the 'good news' from the bad that's coming. The only trouble is the good news wasn't that good, but the bad news will be worse.
Growth in new contracts has been almost none existant for 2 years or more. Less than 12 months ago they released a video interview saying the based on existing "confidence factors" and "what's in the hopper" the first half of 2024 was going to be busy for new contracts. It hasn't happened and Paul has spun the excuses to death why there are delays.
We have now forward sold 5 years of royalties for guardian sales to Caterpillar. There was no lucrative new license agreement plus royalties. It was just royalties and there'll be no more cash from them for 5 years.
They are basically selling anything they can on the cheap to get to breakeven.
Maybe this will be the last time we hear bad news, but it will be bad and you can bet Paul and Martin will be spinning it to death. |
If your unsure of the space and future, maybe sell up and move on to something with more clarity for you? No? |
What Smarteye's figures really highlight is the fact that dms still isn't in widespread use. There's far too many unanswered questions about the take up rates and who's supplying who.
See appear to have their own problems with promises and actual delivery. |
After looking at Smart Eye's interims today, it looks like it will need another fund raise and still no numbers re cars on road. The lack of detail in its numbers is breathtakingly poor |
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