SMN (ASX) Ann: Quarterly Activities/Appendix 4C Cash Flow Report

Originally posted by redgum: ↑

Some copy and paste here - as per below. Plus some Boeing directed gripe-ing

It is becoming, I think, a bit obvious that Boeing has a very silo based management system where one area seems to not know what is happening elsewhere in the organization and we - or SMN that is - is bearing the brunt of this dysfunction. A month or so ago we were advised of the final requirement to perform crack detection at the lowest equivalent load levels. Now we find that they want temperature tests included. And today we read they want to perform some sort of 12 second burn test. What is that? Phew. Any thing else you can think of? Once all this is done I can almost guarantee that they will come up with some other spurious irrelevant test to be performed. it never ends with this mob. Incidentally the three internal Boeing committees mentioned below are apparently all independent of each other with no timing synchronization between them, so eventual approval might be three days, three weeks or three months before each of these three committees finally meet and hopefully sign off. In the meantime share holders are being hung out to dry. It never ends.

So - the copy and paste .....
"His statement outlined three specific technical issues on which the Boeing certification engineer needed to be satisfied ahead of submission. These are outlined in detail in that announcement but related to the potential effect of a CIC coating applied to the sensors on installation in terms of successful crack detection, the ability of our sensors to detect cracks on the lowest equivalent load and the other related to freezing condensation, including high and low temperature extended envelopes. Boeing provided the revised memo detailing these requirements this week."
(Why not three weeks ago when the 'final' testing was initiated?)

"The additional testing requirements are expected to be completed in the next three weeks,paving the way for Boeing’s final approval of its submission to the FAA to complete the data package Boeing requires in order to present the findings to three internal Boeing Committees for approval ahead of subsequent submission to the FAA."

"AEM also held a meeting with the Boeing flammability group to discuss the certification basis and have reviewed the available data and agreed to AEM providing an analysis of the 12second vertical burn test that will form the basis for Boeing ODA acceptance."

Acronyms abound - who or what is Boeing ODA acceptance?

redgum

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fair comment the heat test is a new one. Also this smacks of mates rates, Loves own comments in that announcement states that a substantial amount of that offer went to long term existing shareholders, at a discount value I may add. So what do they know of what’s coming to make them jump in? I would like very much to know which of our dear long term shareholders got in on that offer and what’s coming.The quarterly does suggest good things to come specifically they are talking more application uses.Pity the rest of us didn’t get in on that offer but on a brighter note sounds very much like things are going to happen.

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fair comment the heat test is a new one. Also this smacks of...

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