Seeing Machines Share Discussion Threads

[nathanr999] 29/8/2024 20:59

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?

[nvhltd] 29/8/2024 20:10

If we do a similar deal to the renewed caterpillar then we are royally screwed.

[smithless] 29/8/2024 08:00

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.

[amt] 29/8/2024 07:23

Nvh it wasn't long ago you were singing the praises of Smarteye, now you write they are full of BS.

[base7] 29/8/2024 00:50

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

[nvhltd] 28/8/2024 20:59

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.

[nvhltd] 28/8/2024 18:09

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

[unionhall] 28/8/2024 14:04

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......"

[hamidahamida] 28/8/2024 08:12

Over 15 million cash burn in H2 That is Shockingly high cash burn

[skinny] 28/8/2024 07:04

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

[nathanr999] 23/8/2024 17:24

So you have sold out ready for the bad news, right? Right?

[nvhltd] 23/8/2024 17:10

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.

[nathanr999] 23/8/2024 08:19

So you have sold out ready for the bad news, right? Right?

[nvhltd] 23/8/2024 07:29

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.

[nathanr999] 21/8/2024 20:59

If your unsure of the space and future, maybe sell up and move on to something with more clarity for you? No?

[nvhltd] 21/8/2024 18:47

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.

[smithless] 21/8/2024 08:08

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

[base7] 17/8/2024 17:10

NVH LTD - I do agree with some of your comments & certainly accept that there have been times when good news is overshadowed by something less pleasant.However, they projected cashflow & the expected 30/6 cash balance earlier in the year & we dont know whether the Cat $16.m deal had been factored in ( it had been under discussion for some time).The sale of the remaining G2 stock in Q4 was unexpected,although, & again, Paul had advised us earlier in the year to expect s to sell down our G2 stock by 30/6/24, resulting in improved cashflow in H2-although if the bulk of that stock was sold in June ( as a "job lot")the sales will be reflected in Trade Debtors rather than cash at Bank ,although Paul & Martin should have a good idea as to when the Trade Debtors will be settled.This , I appreciate could create some uncertainty-along with the uncertainty regarding the treatment of the $16.5m from Cat -which could also be the cause of the delay in the update as the Audit Partner acting for SEE may have to agree to the accounting treatment before the update can be issued ( we would not want to declare revenues of $70m if it subsequently transpired they were only $60m.
Despite any perceived uncertainties our share price is up around 20% since the KPI release & The Market usually knows when a fundraise is underway & if that was the case our share price would be more likely to have fallen to less than 4p as those in the know sold ahead of the placing.
My view is that we are interestingly poised & a solid update,demonstrating ( & declaring ) no need for a raise with cashflow break even still expected in FY25 ( we are almost 2 months in ) would be very positive for our share price Clearly an update showing the need for more cash, including a revenue shortfall & with cashflow breakeven deferred to FY26 results in our share price heading rapidly South.
My confirmation bias together with my belief in our substantial potential leads me to expect option 1 .

[nvhltd] 17/8/2024 14:46

A cash raise is on the cards again here. Whether it's a placing, a loan or as Martin Ive mentioned some kind of loan from a customer, money will be needed if they plan to sell significant numbers of Gen 3 products.

What has made them change the date of the trading update. Was it to avoid clashing with Smarteye or was it something to do with the need for additional cash for product?

What we can safely say is that the change of timetable without a set date at this late stage was something unforeseen and with SEE they always managed to ruin good news with bad.

[amt] 15/8/2024 16:34

Nvhltd well looks like the market doesn't share your gloomy view. The share price is moving up quickly now

[unionhall] 15/8/2024 12:16

Good to see some life in the shareprice in the midst of the August doldrums.

DMS KPI's are bound to improve as more projects start production.

So three questions to be answered (as has been the case for the last two years.....)

1/ Where is the next long awaited tranche of DMS RFQ's ?

2/ What is happening with Gen 3 ? what are the real prospective volumes ?

3/ Is Cash breakeven now in sight, or still over the the next hill ?


time as always will tell...