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Interesting post from Adfvn where Patt picked another relevant part of the RNS today.
Within 30 days if we are in a closed period.
RNS says
“The options will be granted once the Company is no longer in a closed period, following the publication of the Company's annual report and accounts for the year ended 31 December 2023. “
“Closed period
Under Article 19(11) of the UK Market Abuse Regulation (UK MAR), the period of 30 calendar days before the announcement of an interim financial report or a year-end report that an issuer is obliged to make public according to the rules of the trading venue where the issuer's shares are admitted to trading or the law of the United Kingdom, during which a person discharging managerial responsibilities of an issuer is prohibited from conducting any transactions on its own account or for the account of a third party, directly or indirectly, relating to the shares or debt instruments of the issuer or to derivatives or other financial instruments linked to them.”
So….finally we should have accounts out early and not have to wait till end June snd we will have news and a full update.
Good thinking Patt.
Nice one HULL
All stations go
Buy in dips as they say, when this will turn around it will be hard to buy, patience is the key
This really makes no sense.
It should be the options can be granted, but cannot either be exercised or sold.
“The options will be granted once the Company is no longer in a closed period, following the publication of the Company's annual report and accounts for the year ended 31 December 2023. “
Eoy accounts were reported previously
June 30th 2023 ,
APRIL 8th 2022,
June 24th 2021...
Is ENET in closed period now ? If so when did it start?
When might we expect the EoY accounts to be published?
The sooner the better imo
What does anyone else think ?
The EoY accounts and update could appear at any time.
There will be no pre RNS of date .....they will just arrive
The traders will be back in town on the forum.
They will be watching haha.
The end of year accounts won’t be pretty, for obvious reasons.
It is the update going forward which will count.
When the final results come out, don’t listen to the nay sayers about the past. Concentrate on the future, which will hopefully be explained in the next few weeks.
Well it's rising 🤔
A couple more trades at 0.95 and we tick up GLA
Sand,
Auditors don't like companies taking the p*** out of them as ENET has done. Substantial write downs of intangibles inevitable, but as non cash relatively irrelevant.
Stock as another matter, are the Chinese deals (which the CFO assured private investor less than a year ago were not only all systems go but waiting on further orders) dead in the water ?
The issue with the focus on the future is looking at what they have stated in the last the last annual reports, investor updates. They simply have not executed and failed completely with post IPO product development, the question is why is it any different now, what has changed ?
On our way
The drop was not real forward we go
Skid,
Let me tell you has changed:-
1. Covid caused problems and had some bad luck with the Chinese. This is behind us.
2. New highly experienced and motivated staff
3. Positive updates and multiple contracts could be coming our way
4. Tarana expansion and success says a lot , and we could benefit
5. SP at just about all time low and price doesn't reflect this exciting, company's strengths and prospects,
6. The CEO has put in this own money to support the company and sees a very bright future for it.
Exactly Skid binned
Prophetus - many thanks for engaging in the correct manner.
1. Whilst Covid may have caused delays, it appears these contracts are dead in the water and ENET left holding the can due to poor contract management.
2. Two new non execs are 100% better than the last two. CFO just a book keeper. Ilan looks and sounds the part, but very different coming from a company where you can point to customers, market share, gartner reports to ENET.
3. I really hope so, but history really doesnt help either of us here.
4. You have undercooked this one, especially if there is a similar BEAD type funding in India.
5. I think if you did the classic Boston Matrix MBA cobblers, some squares would be fuller than others. It really is hard to sell when you have ENETs financial history if you want to embed products in a stack.
6. Correct and give him his due he has done this at 10 / 20 x where they currently are. However he lives in a bit of a tech bubble of his own making and sees things through a very narrow prism.
Skid, thanks for your reply at 12.34 today and apologies for my late reply, as I have been out all afternoon.
Having to enter the TSP process late last year, would seem to confirm that the accounts up to that period will not be good, so I agree load it with as many write downs as possible and move on.
In relation to the coming year, we have seen a cut in running costs, two new members of staff with very good CV’s and the hint of new contracts to come. So, I believe we are beginning to move in the right direction.
I would like to see the accounts published on Gdiday evening of this week, leaving a new week ahead for contract news.
Forever hopeful lol.
Good luck to you and all holders.
Friday evening!
SKID
No 2 is a harsh on the CFO
Ethernity Networks Limited (AIM: ENET.L) (OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, is pleased to announce the appointment of Ayala Deutsch to the Board of the Company as Chief Financial Officer.
Ayala joined Ethernity in January 2019 as Vice President of Finance and has been managing the Company's CFO duties since August 2023. Ayala has more than 15 years of financial experience in international high-technology companies. Previously she was a Corporate Controller at Glide, and prior to that, an auditor at KPMG. Ayala is a Certified Public Accountant in Israel and obtained her MBA, majoring in Financial Management, at the Hebrew University in Jerusalem.
Hull.
This isnt correct.
She joined as Finance Director and was promoted to VP finance., this at a time a CFO and VP of finance for a company with a $1.5m turnover, I think my local Greggs does more than that.
As I have said key appointments are front facing, hard nosed sales - in finance you just need someone to ensure the basics and statutory / tax stuff is complete. Decent sales people should be $300-400k all in but are worth their weight in gold, issue is it takes someone 6-12 months to get productive so a cost to the company (as they would have guaranteed bonus at 100% for 6 months) and its very difficult to recruit good people to a company such as ENET especially if they are nasdaq and have options in the blue.
SKID
Using RNSs...
Are you correct?
Etherniy Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, announces that by mutual agreement, Mark Reichenberg, Chief Financial Officer, will be stepping down from the Board with effect from 31 July 2023.
The Board has commenced an internal and external search for a suitable candidate for the role of Chief Financial Officer and the Company will make a further announcement in due course. In the interim period, Ayala Deutsch, Vice President of Finance, will manage the CFO duties.
SKID
"Decent sales people should be $300-400k all in but are worth their weight in gold"
Did you mean these values?
$300k ..£240k
$400k ...£320k
Seems very high to me, just asking ?
Hull.
She joined ENET as finance director and was promoted to VP.
Hull.
A decent tech sales person working in s/w / h/w in a Nasdaq / nyse company would be on a base salary of about £100k and a further £100k on target comm. Add to this direct cost of pension, NI, expenses, car allowance. I used to know all these across EMEA for each country.
Usually you get a chunk of options each year on top with a standard vesting over 5 years at 20%. So if you’ve been there 5 years you’ve a nice chunk of unexercised options effectively “in the bank” so you’re not going to go to ENET with their risk premium, hence why the new VP was not in employment.
Is anyone 🏆 here
SKID
Very knowledgeable on such matters.... thanks