focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Skid, it is fair to say that ENET has not lived up to it's £45M IPO valuation but what has changed or is changing are the annual revenues.
Following a quick look through previous years I noted the following:
2018 - Revenue 1.12M, Gross margin 0.81M
2019
I can't understand why we have sellers at the moment.
My reasons for holding:
1. DL recently loaned the company £203k interest free!
2. He then converted £75k into shares at 1.0p.
3. He has a holding of circa 20M shares with options for another 10M+ (@1.5p).
4. Court approval of creditor settlement plan.
5. $2.1M expected cash at 31/12/2023 to cover the $1.6M to be paid over 12 months to creditors.
6. Estimated operating expenses of $4-4.5M for 2024. Down from $6.2M - 2023 and $10.3M - 2022.
7. 2023 estimated revenue - $3.77M with $2.75M (72%) gross profit. An increase from $2.9M and $1.6M - 2022.
8. Millions spent on R&D over past few years. Payback time?
May have to add to my holding after reminding myself why I'm here! haha
Good luck to all holders.
It's worth noting that the 'Significant Contact Win' RNS was issued at 9.30am on 29/11/2023. There was no warning and no leak as share price was at 0.93p at close of play on 27/11/2023 and then dropped to 0.78p the following day. After RNS landed the price rocketed and finished at 2.31p on the 29th! Here's hoping for another one soon.