Member Info for LearningG

As per AGM the tidy up of this situation is being completed. The 5 months of stalemate this implies will be followed soon with H1 interims and a trading update. Can the two parties agree a better way? Will all redundancy and termination costs be accounted into H1? Still so many questions to answer. Long way to go but this information finally being RNSd is a start.

A plan was being worked on

Ethernity Networks Ltd (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of networking processing semiconductor technology ported on FPGA (field programmable gate array) for virtualised networking appliances, provides the following update.

As announced on 25 February 2022, on that date, Ethernity entered into a Share Subscription Agreement ("Subscription Agreement") with 5G Innovation Leaders Fund ("Investor"), whereby the Investor invested $2 million, by way of a prepayment for new ordinary shares in Ethernity, to be issued at a later date at the Investor's request. The balance currently outstanding under the Subscription Agreement is $1,410,000 (approximately £1.1 million). The date by which the Investor may request for Ethernity shares to be issued has been extended to 3 March 2024 in accordance with the terms of the Subscription Agreement. All other terms remain unchanged and as announced on 25 February 2022.

There was a very clear frustration at the AGM that the bulletin boards shared everything that was privately communicated. The mood was downbeat, all are committed to the new direction.

The last RNS is now the start point for performance, prior RNS previous FY23 figures are overridden by that one. Only take published RNS as basis going forward for FY 23 they will be more factual going forward.

The business is working at being cash positive.

It was a reset by a group that looked tired and frustrated but working their way out of the problem.

Ethernity Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, is pleased to provide an update on two contracts previously announced on 12 October 2021, for a wireless backhaul solution, and 16 November 2022, for a broadband wireless access solution (the "Contracts"). The Contracts have a combined value of $740,000.

As previously announced, the Company has experienced delays in various existing customer contracts and these delays have included the two Contracts. The Company has completed the development of the field programmable gate array ("FPGA") data processing unit ("DPU") firmware for each Contract in preparation for receipt of the required prototype hardware from the respective customers so that the FPGA's DPU firmware can be integrated into the customers' products. However, to date the customers have been unable to deliver the required hardware to the Company.

The Company has now been notified by the two customers that they intend to deliver their prototype hardware during Q4 2023. Once delivery of the hardware has taken place, the Company will be able to complete the Contracts and invoice for the remaining balance, which equates to approximately $550,000 in total. Subject to receiving the hardware from the Customers in the anticipated timeframe, the Contracts are expected to be fulfilled during Q4 2023 and Q1 2024.

David Levi, CEO of Ethernity Networks, commented: "The completion of these two contracts will demonstrate the Company's ongoing success in providing unique telecommunications networking technology on low-cost FPGA and the value that Ethernity's DPU technology provides for vendors who seek to deliver a differentiated networking solution."

Push down continuing at some stage the offer will come in

Do not forget we will not Judge response for a few weeks

It’s interesting the SP has barely moved this week. No leaky ship, rats over the side, insiders raking in the cash. It seems genuinely no one has no clue about turnover, profit or most importantly cash. Nice to see. Let’s see last movements today. As a LTH cash target metrics of full control by 2025 has to be clearly on track or road in our case.

Had to go, I suspect, the Bergen deal has been a disaster for the SP.

I managed to sell at 373.20. I was out for 2 years then back in but I will watch again from sidelines. GLA

Yes leaky ship. Political relationships make Chinese difficult to deal with, Bosch are no fools either but surely no one is surprised about more delays are they? 2024 some time time hopefully. If works great if not the reason will be about politics and not ceres.

Could it be as simple as poor systems not picking up the name change?

BG May have caused the price to drop to 11p. They closed their fund because of investments like the one they made in Angle. Mms had an inflation bit of fun this week. Underlying Angles price is no news, no profit to 26 and a cash raise at some stage. Let’s not forget they are another II that lost out to a previous ANs charm offensive. No more the city has lost faith in him, the SP tells the truth. Traders will have fun until he finally delivers something 9-12 has become 14 months since FDA. Disappointing Mrs Newland your son has potential but lacks on delivery. MUST DO BETTER.

Thank you

Info@ethernitynet.com

MarkR@Ethernitynet.com

Phone: +972-3-7489846

Well that leaves another long day of Bergen and others selling. Lies, lies and more lies it would seem. Failure of corporate governance.

Did we ever get any extra orders from RNS 12th October 21 order for $400k to be completed in 2022. I can not seem to find another mention. "global wireless OEM based in Europe to supply its ENET 4840 40Gbps FPGA System-on-Chip (SoC)"

I think you've missed your vocation. I'd ask if there is a part for me in next weeks episode, but that would set Mark worrying about any message of a part needed, what percentage of a percentage figure to apply and set to be set as confusing as can be.

No takeover or equity raise is the signal. Onwards and upwards with the existing team

Now that has been some selling and double taps.

With elections in October I am most interested in Q1. If tonight’s news is anything other than a further kick down the road I’ll be surprised. Q1 holds the real promise of what’s happening to the business. Not just “the case”. SP looks a little nervous today but recent presentations oozed confidence. We can hardly say it’s been quiet and they have kept us well informed. That’s said it will be interesting to see the “cans” next steps.