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They have given a lot of detail here, very abnormal, so very likely negotiations in advanced stage as they have quoted values uswell..gla
…In the year to date, the Company has had positive engagement with a number of potential new customers, including two OEM vendors which, following an extensive evaluation of Ethernity's Universal Edge Platform ("UEP") have indicated an interest to adopt and launch the product to their customer base and the Company is in negotiations with these two vendors on potential contracts that could lead to significant business for Ethernity. In addition, two further OEM vendors have indicated an interest to contract the Company for delivery of a UEP based design.
“..Based on the scopes of work being discussed with these potential new customers, should they lead to contracts, they could contribute between $2.2 million and $3 million to the Company's revenues in 2024. Given the commitment of each customer to adopt the products, this would likely lead to significantly higher revenues in 2025 and beyond. Whilst there can be no guarantee that the discussions summarised above will all lead to contracts at all or on the terms currently being discussed, the Board considers that this significant interest in the Company's products demonstrates the potential for future growth in sales of a complete system offering combining Ethernity's chip and software stack that is expected to be the main driver of the future growth of the Company.”