The high of previous years ago is irrevelent.The company is in completely different hands now, and is progressing with the assistance of Sandia,Boeing,Delta,Airbus and Embrear...all big names.We are now focussed on a live real-time flight system as opposed to the periodic testing model first envisioned.Get this over the line and then we can work on all the other applications, plus the other technology they were working on in conjunction with the University of NSW (Metal Stress).
We are focussed on the main game as opposed to running all over the world,using sparse capital,and not achieving any meaningful outcome.Not that I blame the previous directors,they did their best,and it is very difficult to get new technologies up and running.But I feel they stretched themselves too far by trying to tie up Singapore,Asia,The Middle East,Australia,pipelines,bridges,trains,power stations and who knows what else,whilst waiting for,and not aiming for, the big prize...FAA accreditation.
As to where this goes,I think ultimately you would look for a market cap of min. $60-120 million once accreditation is achieved.As Toby Chandler has quoted..."we will have orders worth many,many times our current market cap".
And guess what...I believe him. As everything else he has done has brought results,and surprisingly,that is without him saying too much at all.ALL ACTION,NO TALK.Just how I like it.
But,this crazy,myopic market could take the price there before accreditation.After all Sandia are the right hand man to the FAA when it comes to Airworthiness,and they have been on this for some time.You would have to think if it wasn't going to succeed,it would have done so by now.
Your crystal ball is as good as mine.
SMN Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
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