Seeing Machines Share Discussion Threads

[nvhltd] 14/12/2023 16:12

Here's a question that has been puzzling me that someone might have an answer or view on.

Paul told us that they used to have relationships with many tier 1's, but as time has gone by they are limiting the numbers to 2,3 or 4 approximately.

So are Seeing Machines limiting the number of OEM'S they can be supplied to and therefore their market share by being tied to certain Tier 1's that only supply to certain OEM'S? Is this the reason why they they are able to predict what their market share will be?

For example if we don't work with Tier 1 X who supply Toyota have we already excluded ourselves from winning Toyota? Surely we would need to work with all the Tier 1's if we want to challenge for everything, but the flip side is the Tier 1's might be able to offer their OEM'S a variety of DMS suppliers.

[jpuff] 14/12/2023 10:39

All interesting technology and they seem to be doing well, so the $64k question is why are the shares such a poor and multi year underperforming investment?

[amt] 13/12/2023 18:52

Sounds like Tesla need Seeing Machines on board.

[nvhltd] 13/12/2023 15:14

I hope so too. I've been invested in this share for years and witnessed countless dawns and promises around orders, delivery and market share. Despite the technology as an investment so far its been a dog. Oh how I wished I'd sold out and bought rolls Royce shares earlier this year.

[base7] 13/12/2023 14:40

I share your frustration which you summarise brilliantly in your post.The most ardent of bulls cannot deny that Pauls timescales have slipped in respect of our 3 divisions & we may have thought that the word "imminent",or similar, would be expunged from his corporate vocabulary.I remain invested & have to take responsibility for that & with view to my understandable confirmation bias I am hoping that he can surprise us on the upside over the coming weeks , rather than the opposite.

[nvhltd] 13/12/2023 13:54

Really? You think the worlds automotive sector pays attention to an award ceremony in the UK?

As for G3 sales read my previous post. The results presentation a few weeks ago was full of contradictions around G3 sales.

G3 sales targets need to be sensible, realistic and achievable.

Until recently investors thought, aided by Paul, that SEE pretty much had the commercial space all to themselves with billions of miles of data, a product already deployed, a new updated version on the way, huge mandated market (330K vehicles in Europe alone), blue chip users already and 54K installed units.

So first of all we are going to be almost 12 months late making G3 available for sale.

In the results meeting they are aiming for circa 25% growth in sales which is an additional 13,500 units GLOBALLY!

In the same presentation they then said they were targeting 10% of the European market of 330K vehicles which would be 33K units sold in Europe alone.

So there's your first contradiction. Is the target 25% growth on 54K units already installed globally or is it 10% of the new regulated market of 330K units which is 33K unit which includes the rest of the world sales?

The next question is how Smarteye have come from nowhere with a fleet product a d at least one other DMS company?

Even leaving that aside if there are only a couple of other suppliers why are they so Conservative with their European sales forecasts? We're the only one that has a proven product which has just been upgraded, its been deployed for years with catapiller and other blue chip clients, there's billions of miles of data and product history, they have a monitoring centre and they are being backed with marketing by Mobileye. So why the ridiculously low sales targets?

However, the reason I get so frustrated with SEE and Paul is that it was them that lead us to believe in the potential of this G3 product and the opportunity, but now we can almost taste success after so many years they start to row back on expectations with derisory forecasts.

The same with automotive. We supposed to have the cheapest product from a cost point of view, the best product, the holy grail of fitment positions, relationships with Magna, Qualcomm, mobileye etc, the 3 pillars and countless menu options and yet we've hardly won a contract in more than 18 months while others have?

Then whatever happened to the 330 aircraft deal that was imminent 12 months ago? We've since found out that we don't even have a product developed yet.

So my frustration is the result of a seriously depressed share price which is the direct result of the performance of Paul and his ability to deliver on his hype and promises.

[base7] 13/12/2023 13:10

You may be right-but todays news will focus the attention of OEMs on the need to be producing compliant vehicles ASAP- & those who already buy mirrors from Magna may be tempted to buy their upgraded DMS inclusive solution for an extra few $s to provide a quick fix.Additionally., Paul referred(Town Hall Oct 22)to Fleet contracts of 50-100k each once G3 was launched & perhaps that will become a reality & we should know more by this time next month.

[nvhltd] 13/12/2023 09:27

More waffle and spin. We're now at the point where they need to put a stake in the ground with what we've got and sell something. We're supposed to be in the second billion dollar phase of sales. Even if they start to come through we know there's an engineering phase to go through before we start to receive revenues even if the mirror is the holy grail.

Paul has a couple of weeks before he fails with yet another prediction. The clock is ticking down fast to where the fantastic Magna deal becomes a millstone around our necks.

[base7] 12/12/2023 14:23

Apparently Awards lunch is taking place now at The Savoy in London-perhaps we will experience a substantial increase in volume after the port & cheese resulting in a decent rise in our share price ?

[amt] 12/12/2023 07:54

it has become internationally renowned as the top international road safety award

Perhaps better than at first site.

[boonboon] 12/12/2023 07:02

That's not the type of award I was hoping for.

[snpout] 11/12/2023 09:26

And people wonder why the share price is where it is. Contradicting themselves, promising rfq’s by this and that date. If there’s no auto rfq announced in next 12 or so trading days till year end then mcglones credibility will be shot. The same rehashed garbage they come out with on their social media platforms also achieves diddly squat

[nvhltd] 08/12/2023 21:14

In the results presentation they were full of contradiction. In the commercial space they said that there were very few competitors. They then said that 330,000 commercial vehicles were produced in Europe in 2022. Yet despite the size of the European market and very few competitors they were only forecasting winning 10% of that market with gen 3. That's 33,000 vehicles per year.

At another point in the video they are predicting 25% growth in Fleet sales. Based on the current installed numbers of 54,000 that's only 13,500 units.

So not only is a target of 10% of 330,000 commercial vehicles derisory (and that's just gen 3 in Europe), but then they are predicting only 25% growth across the globe be it gen 2 or gen 3.

So which is it 10% of 330,000 vehicles which is 33,000 vehicles plus the rest of the world or is 25% forecasted growth across the globe based on 54,000 units currently installed which is 13,500 units.

[snpout] 08/12/2023 16:52

Yes mcglones outpourings of predictions have long since grated. One of his other ones was the bidding for fleet contracts with 50 to 100k orders. More pie in the sky. His proactive infomercial interview in august this year he stated that there would be a run of rfq awards in the next quarter. There’s about 12 trading days
left for that to come to pass. People were wetting themselves with excitement when the “ Italian job” thing leaked out. Like hearing people down the pub
talking about stocks or the shoe shine boy giving you a “ hot tip”. McGlone has to deliver soon. And what about those big yank investors who were clambouring over each other to get stock. But they’d have to buy it on the open market. More in a long line of complete pish

[nvhltd] 08/12/2023 15:28

It's been more than a year since the infamous 'Italian Job' was posted where Paul told a bunch of privileged Italian investors that the company would land a 330 aircraft order before the end of 2022. What a load of BS that was. They don't even have an aircraft product developed. Work only started on developing an aircraft product in July after the announcement of the deal with Collins.

God knows how long now he has been promising auto deals. The last declaration was that they were working on 12 RFQ's. Since June 21 they have only announced 2 tiny orders. However, Despite the excuses Paul continues to dangle a carrot infront of our noses. His latest claim was that there will be multiple wins before the end of the calendar year. Well time is running out on yet another Paul target. No doubt he'll peddle the same BS that it's the OEM's fault for wanting more and more features and he thinks that's the right call. The trouble is Paul you need to keep your mouth shut unless you are sure what and when they want it otherwise you run the risk of becoming a typical ceo that cannot be trusted and doesn't deliver.

Meanwhile Smarteye win new orders. People can knock them all they like, but they are at least announcing contract wins. I also noticed another company has entered and won a commercial vehicle DMS contract. So much for being the only company with a product in the commercial space and so much for the years and years of development and collection of real world data etc. It just goes to show that just like any other product if there's a market plenty of companies will come and fill it.

With Gen3 just about to launch, regulatory deadlines fast approaching and with first mover advantage there can be no more excuses. Calendar year 2024 must be the year that Paul and SEE start to deliver otherwise I think we will start to lose credibility.

Investors have waited long enough for this company to start making money. The years fly by and believe me it won't be long before the Magna CLN becomes a noose around the companies neck.

So come on Paul where are these auto contracts? Eventually the metric of SEE DMS installed will be come irrelevant. The metric we all want to see is how many DMS sales the company have per quarter and annually. No one cares how many Apple phones are in use. Investors want to know how many phones they are selling and their market share.

[skinny] 02/12/2023 10:26

12p by June 2024 maybe within reach, but 20p....

[bones698] 02/12/2023 08:59

I like the tech but as a business it's not really doing very well . They have set a target of 125m which is some way off where they are now and if they fail to hit that target will get hammered when it's announced . It's always a big risk stating revenue figures especially ones in a volatile market place that can easily go awry .

Mkt cap looks very high for a company making quite big losses . I can see downside here and a lot of risk at present
Cash position at last results of 36m won't last long with those losses

[amt] 26/11/2023 21:24

Not on my watch they won't.

[davemac3] 26/11/2023 16:03

they might just rebase them or extend the vesting period.

[zero the hero] 25/11/2023 19:07

From Chairboy on LSE.

In the AGM pack (see the SM website) is says PMG needs to hit the following share price targets by 30 June 24 to receive his award of up to 10m shares:

-Less than 12p per share, 0% vesting
-12p per share, 40% vesting
-12p-20p per share - linear sliding scale
-20p+, 100% vesting

Very bullish targets considering where the share price is today!

[hope1815] 16/11/2023 07:08

Berkshire Hathaway revealed it has sold off its remaining holding in carmaker General Motors. Charlie Munger was quoted ‘In its heyday, General Motors was a great company – it just gradually went to hell one contract at a time,’. The reasoning behind the decision to sell up is in its model of business and suggests it is unsustainable.

With Seeing Machines it may impact but probably only a small contract may have been signed. This suggests it would have minimal impact on any revenues coming.

Articles from Daily Mail. CNN, CNBC, Wall Street Journal, etc.

Take Seeing Machines has many partnerships across the World and one company going under will not impact Seeing Machines Forecasts.

Reading the Articles Berkshire Hathaway has sold a lot of holdings even in Tech companies. Seeing Machines I would class it as a Defensive Stock. If they see what is coming Defensive stocks here we come.

[jpuff] 15/11/2023 08:53

They don't seem to want to let this go over 6p. I guess that will be the buy signal if and whenever it does one day in the future.