I am not any good at number crunching bar thinking SMN current market cap of around $77.6m still puts a lot of hope on its ‘unicorn’ prospects with the CVM apps finally taking off in a commercial sense.
And I think that on current CVM expectations being restricted to the B737 aircraft and the APB application, the report sums things up - from my perspective at least - as a bit of an upward battle until FY 2028 (but at least uphill?) ?
From this premise, based on ‘the vibe’ its’ the options to accelerate growth noted on page 3 of the RAAS report that I find most interesting and would like further news on .
For this argument (such as it is) the last image from the report is this one:
______________________________________________________________
BEYOND THIS ;
For years - maybe even decades - SMN has been taking its’ technology to conferences on bridge building, plus there was a flurry of interest years back in its’ potential use in underground mine sites, and I know Testia has been supporting work into plenty of other structural health monitoring arenas :
eg from a UK conference in September 2021
[ref]
… “ In order to generate innovative solutions and new business-cases for SHM, we at Testia utilize the knowledge and experience gained in deploying solutions in different industries, to drive innovation, maturation and technological advancements.
This approach is envisaged to gather momentum in technological adaptation by leveraging the confidence gained in a successful use-case.
At Testia, we strive to believe that the vision for SHM in the past, especially for the aviation sector, still remains the vision of the future...”
* ** *
The rumbles in the background for non-aviation uses have continued under Ross’s watch and now Testia seems to be definitely back ‘on side’ with keys to open the door to more than just Airbus apps as per the October 2023 quarterly report … (Q: was that letter of intent followed through with please?)
… “AEM and global non-destructive testing consultants and service provider, TESTIA, signed a letter of intent in September provide commercial airline operators and MROs installation training of its Comparative Vacuum Monitoring (CVM™
airframe crack detection compliance sensors..” [ref]
… and yet that notice only related to training related to the APB airframe application?
……. I’d just feel happier putting more money into this company (and not quitting my small toes-hold) if Ross would please give shareholders a clearer understanding of what kind of developments are going on behind the scenes, especially if Testia is involved.
Including the prospects, if any, resulting from all those bridge conferences and from that interest the US airforce showed in using CVM tech to help with it’s problematic converted 737 ‘Pegasus’ military refuelling aircraft .
cheers
(20min delay)