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Low number of trades, and as is the way with AIM, the SP drops. Traders go wandering.
Do you often confuse big things for tiny things ?
Something is not right. Some big sells today :
1,254,732 (11.0k)
875,183 (7702)
944,058 (8,638)
595,943 (5,542)
500,000 (4,690)
500,000 (4,695)
WTF are all these contracts ??????????????? Sick of waiting
As mentioned by Hull yesterday, there will unlikely be a pre-RNS stating End of Year results release date so can land at any time.
I note that the last two (08/04/2022 & 30/06/2023) both fell on a Friday. Could the next one tomorrow?
SKID
Very knowledgeable on such matters.... thanks
Is anyone 🏆 here
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.
Hull.
She joined ENET as finance director and was promoted to VP.
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 ?
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.
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
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.
Friday evening!
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.
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.
Exactly Skid binned
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.
The drop was not real forward we go
On our way
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 ?
A couple more trades at 0.95 and we tick up GLA
Well it's rising 🤔
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.
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.