Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
What sh#t are you talking. The directors have received options to buy shares, they haven't bought and go read the original announcement. These vest over a number of years which means they cannot all be bought at once. F%*k, the posters on this board are financially illiterate and ignorant idiots.
You all critisize SKID, but he is the only person on this board with knowledge, financial acumen and who understand markets.
Castle
Appreciate your thoughts, but subsequent to the deliveries last year to Tarana per the announcements there have been no further deliveries or orders announced. Given the size of Tarana now and its penetration and sales in the markets, the question has to be asked - where are the orders????
This does not make sense............
Tricky...
You guys all need to pay more attention to Skid, he has the most insightful research, understand the topic and company and probably has more experience than anyone on this board, me included.
All I can say is its good you guys are not gold miners - you would be mining and selling a lot of Iron Pyrite - fools gold.
Look at the extract from the RNS on 29 June last year, obviously Tarana. I have not seen any more announcements from the company about orders from Tarana since then, unless I missed something. If that was the last order it calls for the question "where are Tarana orders",???????????????????????? especially seeing how much Tarana is growing and expanding worldwide.
Ethernity Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data processing semiconductor
technology for networking appliances, is pleased to announce that it has received a purchase order for $1.5m
from its existing fixed wireless customer (the “Customer”), to supply the Company’s data processing system-onchip (“SoC”), in staged deliveries during the third quarter of 2023. The payments for the deliveries are to be
received in stages with last payment due by the end of the third quarter of 2023 and therefore contribute
towards the Company’s revenue targets for 2023.
Skid.
I used to get the details from MR and asked him what he did. He told me that from when a general meeting was announced he made sure he worked on all proxy votes and also the DI votes. He also said that at least a week before the voting cut off date he had made sure there were enough votes to pass the resolutions and that the required shareholders would be present. Looking back at the announcements of the results of meetings all resolutions always passed with over 90% voting.
It is simple work obviously that the CFO or company secretary should be doing. the first slip at a meeting was after MR left the company.
If you read past announcements of AGM's or EGM's you will see the timing.
Your mistake is that you are looking at timing under UK law. ENET is an Israel incorporated company and operates under Israel company laws and regulations which have very different timing for meetings. I'm sure the Articles of Association are on their website so go and read them. Also google Israel companies setting of shareholder meetings laws.
Don't guess if you don't know...
Kaleo
"Way down she goes"....
The share needs time and patience to recover. Let Bergen finally flush out and announce zero holdings. Allow Dl to deliver new order or contract news. Allow the market to digest that the company is leaner, meaner and on the cusp of profitability...
The Europe song plays "It's the final countdown".
Hang in there me beauties.
@petroinvestor - reading what you wrote about 5G/Bergen is frightening. Frightening that anyone who calls themselves a market investor can be so STUPID!!!!
Did you actually read the initial announcements of the Bergen/5G Share Subscription Agreement? Do you actually know what these agreements are??
I must tell you, I am shocked by you and many other "investors" here - no wonder you are all losers on shares.
To be honest Petro, I wouldn't employ you to lay bricks!!!!
@Drizzy90 - how can you say Bergen now out???? You have no idea it is them selling and how much they have sold / still hold. Stop ramping on uncorroborated speculation. When Bergen are out or below 3% it will be announced! Until then you are guessing, much like saying Intel are signing a contract for $100 million tomorrow with the company.
Stick to facts, if your investment process is correct, you will make the money without ramping!!!
Bergen will clear out quickly and then there will be stability and hopefully positive momentum starts building. On the back of hopefully new contract news to be announced being imminent (or within a few months), the share price will start gaining traction and then the fundraise that was alluded to can happen. Fundraising on the market, even though currently difficult can be completed in a matter of weeks, so ENET can sit tight to do this waiting for the share price to lift first.
Relax everyone, Bergen has to clear out first (and they will), and then all overhangs are cleared for future ability to achieve and maintain upward momentum. Until Bergen have cleared this will be a roller coaster - so a little patience, and along with finally and hopefully clearing the TSP hurdles combined with positive trading news flow, the ability for the SP to move upwards steadily will be there. Forget about 100%, 200%, 300% jumps at a time unless a significant contract is announced. Slow and steady will win the race.
Neil, it's all Bergen and if you had a modicum of intelligence or knowledge you would know this is the best thing that can happen.
Once Bergen filtered out, the overhang is gone (do you understand the concept of overhang?) and the momentum is greatly improved.
Bergen dumping like tomorrow will never come. Soon (I guess within 10 trading days), that will be the back of Bergen for once and for all! With that noose around the company neck loosened, the TSP exit imminent, things can only improve....
Cocoshunter - Skid is more balanced and has more acumen than all the posters on this board put together and has been involved in ENET far longer than anyone here, so his view is not only balanced, but well informed.
You on the other hand... let us just say.... rather sit there and look like a fool then open your mouth and prove it.
Gross - that is severance pay, and it seems like monthly contributions made to cover. Are those up to date? It is also not and different to contracted notice pay (30 days, 60 days etc.) which is usual in employment contracts. are those liabilities accounted for and have they been met.
All of these things add up along with rental costs, big director salaries etc and burn the cash.
Skid
Looking at the published annual report (the only place for detailed information), it looks like the least cost is about $36,000 per month. Obviously this would exclude lights and water, probably operating costs, and other property related costs. This is about 10% of the monthly operating costs as per the amount Levi mentioned in a past RNS and update.
So cutting property costs even by 50% is not the big gamechanger - there has to be other big and very high costs, and that will be in payroll. I have no idea what remaining staff cost but looking at the Annual Report, $7 million in 2022 was staff costs, with 77% being in R&D. That means there are some very hefty salaries there, including I guess Baruch, so the big cuts must come from there and directors being Levi, Baruch and other very highly paid engineers.
The reality is, we don't know and will never know but according to the annual report, Levi and Baruch cost the Company $640,000. If they were forced to take a non refundable cut of 50% for 12 to 18 months, that saves the Company $320000 to $540000 over that period, that with the property cost cut you mention becomes real.
Also stop paying the Chairman - he doesn't seem to do anything and his silence is deafening