Future Mobility Solutions - FMS [was Sealegs - SLG]

[Timesurfer]

I know those who have been involved for years will be thinking it is a dead mule, but I think there is a murmer of heartbeat there that might get us around the track at least once. Not sure if Trump is making it harder for them, or if he is about to be a boom for the military market.
The recent share offer seems to have generated a bit of interest so I am not getting any more cheap shares at the moment.

[Timesurfer]

Might be interesting.

Details of transactions and events giving rise to substantial holding

An off-markettransfer.from Citibank Nominees (New Zealand) Limited (as custodian for Capital Key Holdings
Limited) to Newland Inc. Limited

[Lola]

I know those who have been involved for years will be thinking it is a dead mule, but I think there is a murmer of heartbeat there that might get us around the track at least once. Not sure if Trump is making it harder for them, or if he is about to be a boom for the military market.
The recent share offer seems to have generated a bit of interest so I am not getting any more cheap shares at the moment.

Well they came with the interim today, exactly as they did last year viz 29/11.

Revenues for the six months hitting $ 27 million plus. So looks like 50 million plus for the year to 31/3. Costs seem to be well are under control.
Ignore the forex stuff, thats just accounting. This company has got it together. Market cap a measly $23 million. Definite buyout prospect IMHO.

[Subway]

Couple of announcements today landlubbers:

1/ The court says that the naughty nauticals can not copy their patented design for the moment.
[https://nzx.com/companies/SLG/announcements/294618]

2/ The are going on a spending spree buying into salted RIB producers in France and South Africa and they are going to change their name to Future Mobility Solutions Limited so we all think it is making an amphibious version of those little buggies that old people terrorize pedestrians with.
[https://nzx.com/companies/SLG/announcements/294643]

Personally I would not touch them with a boat hook

Best Wishes
Paper Tiger

Stryda Marine one of the infringing parties named in the lawsuit has merely shifted production to Australia and telling customers to privately import finished boats, saw one in the flesh on the weekend, i'm sure sealegs will be back in court on this one

[Timesurfer]

Stryda Marine one of the infringing parties named in the lawsuit has merely shifted production to Australia and telling customers to privately import finished boats, saw one in the flesh on the weekend, i'm sure sealegs will be back in court on this one

I guess if there was a positive it would be that it shows demand

[Subway]

I guess if there was a positive it would be that it shows demand

The demand is definitely there, but given sealegs value their kit at $75k (well over what its worth) they will burn more money in legal fees when they should just get on with meeting demand

[Timesurfer]

Next - Sea Legs around the world series!

Twenty seven Sealegs craft landed Friday on Langkawi Island, Malaysia, setting two records in the process.

The first for being the largest assembled fleet of government-owned Sealegs anywhere in the world by the Malaysian Civil Defense Force (APM), and Fire Department (BOMBA).

The second for the longest trip undertaken by a fleet of amphibious craft, which was registered in the Malaysian Book of Records.

Full article

[Aarrgghh]

Hi everyone
I've just bailed on FMS and since you have been so kind to share your information I thought I would respond with my analysis of FMS as well.

My Expectations:
I work in the marine industry and Sealegs has a good reputation, has started working with premium brands such as Stabicraft to put their gear on a wider range of boats. The idea of buying offshore companies and doing basically the same thing to open up a much larger market to NZ developed marine technology is a good one. I was hoping to see technology sharing between FMS brands - ie sealegs on Sillinger and Willard boats

Company's Plans:
BUILD a global brand targeted at government and commercial marine markets.
Invest heavilly in new technologies including foiling and self driving technology
Already planning a new share issue

What I found
Sillinger and Willard websites dont appear to have changed since take over. The news section on the Willard website hasn't been added to since 2016. Willlards facebook page hasn't been touched since 2017.
I can't find any Sillinger or Willard images showing amphibious technology - or really any signs of technology sharing between them
The foiling technology shown here http://www.futuremobilitysolutions.net/research.html is by a company called Seair. They have removed all mention of Sillinger from their website (although if you google search seair +sillinger it still pops up) which would lead me to assume there is some expensive mistake being made right now.

My assumptions and analysis
Sealegs itself is probably in a really good position. It has a good reputation and so long as the economy doesn't tank it will continue to do well
The costs involved with the R & D and other overheads are going to be high.
Sharing of information between three companies (one speaking french) has probably been a large hurdle.
The company appears to have been ineffective at promoting internal technologies across its brands, and I'm guessing that any efficiencies of scale are not going to be there. (eg 3 different websites for the different brands - should have one template running all three)

Anyway, that's my thinking. I hope I'm wrong and Sillinger and Willard have big government contracts about to be released. But I'm out.

[Lola]

Hi everyone
I've just bailed on FMS and since you have been so kind to share your information I thought I would respond with my analysis of FMS as well.

My Expectations:
I work in the marine industry and Sealegs has a good reputation, has started working with premium brands such as Stabicraft to put their gear on a wider range of boats. The idea of buying offshore companies and doing basically the same thing to open up a much larger market to NZ developed marine technology is a good one. I was hoping to see technology sharing between FMS brands - ie sealegs on Sillinger and Willard boats

Company's Plans:
BUILD a global brand targeted at government and commercial marine markets.
Invest heavilly in new technologies including foiling and self driving technology
Already planning a new share issue

What I found
Sillinger and Willard websites dont appear to have changed since take over. The news section on the Willard website hasn't been added to since 2016. Willlards facebook page hasn't been touched since 2017.
I can't find any Sillinger or Willard images showing amphibious technology - or really any signs of technology sharing between them
The foiling technology shown here http://www.futuremobilitysolutions.net/research.html is by a company called Seair. They have removed all mention of Sillinger from their website (although if you google search seair +sillinger it still pops up) which would lead me to assume there is some expensive mistake being made right now.

My assumptions and analysis
Sealegs itself is probably in a really good position. It has a good reputation and so long as the economy doesn't tank it will continue to do well
The costs involved with the R & D and other overheads are going to be high.
Sharing of information between three companies (one speaking french) has probably been a large hurdle.
The company appears to have been ineffective at promoting internal technologies across its brands, and I'm guessing that any efficiencies of scale are not going to be there. (eg 3 different websites for the different brands - should have one template running all three)

Anyway, that's my thinking. I hope I'm wrong and Sillinger and Willard have big government contracts about to be released. But I'm out.

Couldnt have put it better myself....result expected this week. They have two more days to do it in a timely manner but adherence to NZX regs havent been exactly top priority for neither the Chair or his sidekick. I still expect a buyout offer by management but maybe their sweetheart 11 % interest shareholder loans will bring something less savory in due course.

[Timesurfer]

Definely appears to be a management issue. I liked the strategy of buying into markets where they could combine technologies to create something bigger the sum of the parts but as you say it doesn't appear to be happening.
Still hoping someone will pick them off as an investment or a foot in the door to some military contracts. Lots of potential just not firing under the current arrangement.