Small Caps Podcast with Paul Scott – Episode 15

Paul’s usual weekly recap of small cap TUs & results. Plus market/macro commentary.

Lots of interesting companies reporting this week. As usual this is just my personal opinion, never advice or recommendations.


  • Lee Brockwell

    Nice podcast again Paul.
    But you missed the biggest RNS of the week from Seeing machines.
    65m investment from Magna. Consisting of a 17.5m payment for exclusivity in using their DMS software in their rear view mirror. Then 48m convertible bond which can be converted in 2025 at twice the current share price.
    Unbelievable deal in this market.
    Getting the software and camera to work in the mirror was a massive technical challenge, which they have succeeded with.
    The mirror solution should guarantee 50% of the market going forward, as where the auto manufacturer can use a mirror rather than redesign their console they will, as it’s much cheaper.
    Every chance they will end up with 70% + DMS market share in auto alone.
    Market is predicted to be 80m cars by 2028. At 10 dollars per unit * 40m. say 50% for now. That’s 400m per year. Margin is over 90%. So at least 360m profit.
    Has plenty of cash in bank and very well financed until profitable in 2024.
    This is only one part of the business, Fleet and aviation are the others, with no real competitors.
    You really need to take a look at these.
    Happy to answer questions.

  • Thankfulosaurusrex

    Thanks Paul, awesome podcast

  • excellent again and as always, Paul.

    Trading statement due next week from Ramsdens (RFX), one of my biggest shareholdings.

  • Thanks paul.

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