Shanta Gold's CEO explains the Q2 production shortfall and emphasises the cashflow strength of SGH. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Very few integrators have any profile as integrators as this is actually a very new thing.
I think that even with Integrators business like Dish will use Nokia or Ericsson for the 5G management. Integrators have overall development and management responsibility. Things like interoperability, configuration and future proofing.
They will be energising and managing suppliers to deliver and continue to innovate.
5G is a living thing and requires constant support.
Integrators will be key , absolutely fundamental for openran. This can be drawn from the definition of openran, that its a disaggregated network, requiring integrators to select the components to define particular requirements. Ethernity will gain orders from the integrators , some of whom may not be household names.
If Ethernity start mentioning deals with household names and give an indication of the size of their potential market then this can fly on AIM market. Too much speculation at the moment for the shares to really move.
Currently Ethernity pitches to a tiny section of 67m people who largely don't have the funds or knowledge. Israel is full of wealthy investors many with tech knowledge. The booming tech sector has produced many wealthy knowledgeable investors who know what they see.
Nothing against the UK but investors are lazy and disconnected with their investments.
Volumes don't but that is exactly my point. Hundreds of potential holders cannot buy Ethernity shares. I guess if you spoke with them you would see it differently. I think easily $5m would be injected from Israel in New investors.
Yep I agree Skid, talk of another listing currently is premature imo - it would be a waste of time and money as current volumes and market cap don't justify it. Could consider it once the mc is 10x higher but even then might just be better to uplist in London and then Israeli investors can access as well.
Yes agreed that it's the ultimate goal but then they will be adhering to 3 company law codes. They already have to comply with Israel so it is a quick win. Israel has a huge tech industry, for the population easily the largest in the world.
I know one person who holds Ethernity through his nephew in London because it is the only way. Not legal but I guess that is how it is.
I would hope a nasdaq listing rather than israeli, not just for access to a wider shareholder base but far better quarterly reporting requirements, analyst coverage etc. Assume access to us stocks, with so many Israeli tech companies listed, is relatively easy from israel.
Not now, but in 23 if all goes well with value at minimum $300m. AIM suits requirements of low cost, minimal reporting at the moment.
That would achieve less exposure not more. Israel has 9 million population UK 67 million. Why would they delist on the AIM. They would not need to.
Even as a UK citizen abroad it is very difficult to buy Ethernity shares, as a Israeli it's impossible from what I can see. Interactive Brokers are one of a couple of international brokers with AIM coverage and they exclude Israel on their residential list. I know of 3 who tell me that they would buy shares but can't. It leaves them buying through a proxy and all the risks.
I hope that by listing on the Israeli stock exchange they wouldnt delist on Aim. Its very hard I think for uk investors to hold directly Israeli shares. The mm would take advantage and the price would crater is my fear.
So there's potential to extend full year results by 3 months on AIM rules but the market must be notified by the deadline. However Ethernity are governed by UK and Israeli law.
Interesting that the TelAviv exchange has removed the need to report in Hebrew and can now report in English.
It would be very positive in my opinion to list in Tel Aviv. I have spoken to many in Israel very enthusiastic about Ethernity.
As Ethernity adhere to Israeli company law I see it as a small extra admin burden.
43.8/46 MMs really don't want to play this game. Although all 6 are on 47 really only a couple wants to sell you any.
Thanks TL. That is a fantastic reply and I can only marvel at your grasp of the situation and factors involved.
I will have to read it several times to make sure I have an understanding, I’m getting there but I’m slow!
It should be an exciting period ahead for ENET holders
I believe that most OpenRAN or C-RAN deployments will go down the same road. Radios on towers, edge servers at the towers, DU servicing a 3-9 tower array depending on density and geography. DU in the field but not at the tower. Small footprint, small power and very cost sensitive as Dish will need maybe 20000 DU nodes. The CU will move from the field and the network will be a network of CU. Each DU will connect to every CU. So we have each radio unit as a edge server. Each DU is critical to the function and cost. There simply is no way that there will be specialist high power servers for DU, there is not time or budget. This will be a CoTS server from the range running a DU algorithm on the fpga with layer 3 forwarding and routing. The CSR will be virtual I think that is not open to challenge it's just a matter of how it will work.
The Ethernity patent allows for more functionality and density on the ACEnic-100 than anything else at market. Ethernity has a product that runs a virtual router on the NIC (cheap) without using the server CPU. This means few cores, fewer servers, no external router and no coding between the server and the router. Remote intervention without physically going to the site of the box.
Now we have a Ethernity wireless backhaul product just announced. This is potentially a way to connect every DU to every CU without the need for wires. Ethernity don't have anything to do with the mode of transport just a method to send data with complete accountability. This is done in a patent protected environment that counts data out and in and recorders any missing. This without increasing latency as they use a first to the post method.
Does Ethernity have a "millions" market. Yes absolutely across several products they are unique or absolute leaders.
OK so why are they independent and haven't been acquired. Simply they are massively diverse and any buyer would need to also acquire the patents and know how to move the business forward. A business David has been in for 25 years.
The market needs innovators like Ethernity.
I believe companies can delay the AR by up to 3 months due to CV19. Even if ENET are unaffected they can claim their auditors/accountants/ advisers are facing extra pressures due to CV19.
I don’t think there is any requirement to issue a RNS to inform investors of this, but one would like to think they would look to keep investors informed. A lot of companies give advance notice of the AR, but ENET don’t seem to follow this ‘best practice’ so it remains to be seen if they will issue the results this month and if not, will they inform us of the likely date for their issue.
Great posts TL. A good read whilst we wait for the historic results and, more importantly, whatever they deem to share with us on progress this year and the forward outlook.
I note your ‘literally sell millions’ comment. Is that serious, is the market potential for ENET’s solutions measured in $billions? That would be amazing , but there again the market and ENET’s ultimate share of it could be an order or magnitude lower and ENET still do amazingly well from the 45p or so where we are today.
I think that it's fair to say that we are on a dip right now. Only going one way from here. There are multiple reasons the price to move up.
We are waiting on multiple updates from events with near term time lines.
China 5G trials, Asian OEM sales, DU x 3 separate news sources, avionics switch OEM sales through 2 OEMs competing for a huge military market both using Ethernity, flow processor sales through Tarana(substantial regional deployments) Asia Pacific through Horizon and US sales, XPON sales through a US OEM that recently upgraded their contract (unique product) and Chinese OEM sales of Ethernity code within their product to name a few. There are many routes to market and many markets that start H2 2021.
Yes don't blame you bidnolid, although we are on an upward trend, there are lots of ups and downs with Enet. Should be many more opportunities to top up on a dip, unless they release a blockbuster of course. We enter H2 in 7 working days!
For sure it will be impossible to buy when a major DU contract is announced.
Quite possibly Kitlow however with 6 MMs camped at 47 it will take massive buying to move them all.
The evidence is mounting for a massive rerating, I won't be surprised by it but the market has not seen it.
I am fully in, absolutely fully in short, mid and long term for the first time ever. More funds coming first week of July but I fully expect 60p+ by then.
Yes I'm sitting tight at the moment and seeing what happens over the next few weeks, I don't mind paying a bit of a premium for a few more if they release something. With regard to the finals, companies can delay publication up to September I believe but I assume they would have to make some kind of announcement to that effect?
I'm the only one buying today then!
MMs continue their holding pattern to discourage trades. This is whilst we all wait for the results from last year (insignificant) and any forward looking statements.
Also in the background the possibility that Ethernity are engaged with Dell servers in their strategic alliance with Dish to develop a standalone ecosystem. This is for their 5G network but also for a go to market product.
All the clues are there in the various comments.
Major Server vendor in North America, North America ISP planning OpenRAN cloud RAN network. Large ISP capable of steering a large server manufacturer to Ethernity. Aware of the Ethernity solution through connections at board level. DU delivered for OpenRAN trials and further development to develop the NIC for specific requirements of the network.
Dish are committed to a brutal rollout schedule covering 70% of the US in 18 months (is that even possible). So walking back they need a solution ready to go like yesterday. Ethernity moved from idea to prototype to delivering to 3 Major Server manufacturers in just a couple of months. Since they have required additional acceleration of funding to support increased demands. David says major players are seeing Ethernity now and engaging as OpenRAN early deployment players move to actual deployment. Ethernity tell us this is a breakthrough product, the Glomo nomination (for breakthrough product) supports that.
Dish are ready to serve their 5G offering to the US. They engage a major server vendor in the US who now need a rapid DU solution to run on their CoTS server.
Don't try to tell me that it is not Ethernity as Dish is the only early option for C RAN deployment.
The question is who are the other two.
Do huge businesses like Dell and Dish use micro suppliers like Ethernity. Yes absolutely, Dish contract Dell and they bring the best solutions to their product. They don't build their own they go to the best. Ethernity are recognised by Glomo as the inventor and flag carrier for DU virtual routing, why would Dell go anywhere else.
If not the following Tuesday!
Last day for results Wednesday week…..
I guess 7am tomorrow is prime time for news. Has to come eventually.