Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Tomorrow opens the permission to open Pandora's box on SP. The positive is that David L and others do not want massive further dilution of their holdings. That said their holdings are no where near what they paid for them and effectively it is a reset for the company and their holdings. Future looks to be nearly safe but EPS will be impacted by what ever raise is completed and when. Tomorrow will be a rubber stamp exercise, when will news come?
Passive Optical Network (PON)
A passive optical network (PON) is a fiber-optic network utilizing a point-to-multipoint topology and optical splitters to deliver data from a single transmission point to multiple user endpoints. Passive, in this context, refers to the unpowered condition of the fiber and splitting/combining components.
In contrast to an active optical network, electrical power is only required at the send and receive points, making a PON inherently efficient from an operation cost standpoint. Passive optical networks are used to simultaneously transmit signals in both the upstream and downstream directions to and from the user endpoints.
Who said revenues unknown
From RNS
Subject to completion of the FY2023 audit, the Company anticipates that its headline results for 2023 will be:
· revenue of between US$3.6m and US$3.8m (2022: US$2.97m);
· underlying gross profit of between US$2.4m and US$2.6m (2022: US$1.59m) representing an underlying gross margin of 67%-68% (2022: 54%);
· EBITDA loss of not more than US$3.8m (2022: EBITDA loss of US$6.4m); and
· a reduction in monthly operating expenses from US$660k in June 2023 to US$300k in December 2023.
Just catching on mostly repetitive posts with Skid making most sense as usual, but finger in the air made me laugh out loud briilait, 3 trading days to next GM. this time it will be a rubber stamp. David's game or the game he is in will become clearer hopefully.
Its hard to believe this mornings failure was just bad organisation.
AGM 14th August
3. Resolution 2: To increase the authorised share capital of the Company to NIS 300,000
consisting of 300,000,000 Ordinary Shares, each having a nominal value of NIS 0.001, and to
amend the Company’s articles of association to reflect said increase in the authorised share
capital
With 238m in circulation and the final tranche of 61.5m to Bergen this is not the issue, unless something technical in words.
Why look so foolish unless there is an alternative plan or a delay was required?
Someone or several players are up to games. As to whether SP goes up on news, a squeeze or down on dilution is all guesswork. Days like today just mean we have 7 more days to debate what the heck is going on.
Jemgee
Perhaps it was like the last time, in that the deal they were offered by city on any bookbuild was basically giving a large chunk of the company away again.
76m shares 2021 to 324m shares under current liabilities.
Maybe David has another way
Or has just refused a low ball offer
Or maybe he smells a risk of losing control like he has done before
Or its just bad management of the GM
?
With hundreds of new investors would it do have been important to communicate the process better.
Form of Proxy for EGM 7 December 2023
http://ethernitynet.com/wp-content/uploads/2023/11/267254-Ethernity-Networks-Notice-CL-3.pdf
http://ethernitynet.com/wp-content/uploads/2023/11/267255-Ethernity-Networks-Proxy-CL-2.pdf
http://ethernitynet.com/wp-content/uploads/2023/11/267256-Ethernity-Networks-FOD-CL-2.pdf
I would suggest they do not know who their new holders are in the main. You have to follow the process and fill these forms in so your vote can be cast at GM
Yikes today is a shambles.
Http://ethernitynet.com/wp-content/uploads/2023/11/267254-Ethernity-Networks-Notice-CL-3.pdf
http://ethernitynet.com/wp-content/uploads/2023/11/267255-Ethernity-Networks-Proxy-CL-2.pdf
Resolution 1 seeks to make available a sufficient number of Ordinary Shares. The Company is seeking to
increase its authorised share capital to NIS 600,000, consisting of 600,000,000 Ordinary Shares, each having
a nominal value of NIS 0.001.
Further to the above, Resolution 2 will enable the Directors to allot Ordinary Shares or other Equity Securities
on a non-pre-emptive basis, up to an aggregate nominal value of NIS200,000.00 (equivalent to 200,000,000
Ordinary Shares), which is equal to approximately 134% of the nominal value of the issued ordinary share
capital of the Company as of 9 November 2023 or in connection with a rights issue or similar offer. The
Directors believe that the authority provided by this Resolution 2 will maintain a desirable degree of flexibility
during this challenging period for the Company. Unless previously revoked or varied, the authority granted
by this resolution will expire on the conclusion of the next annual general meeting of the Company, provided
that it would apply to offers and agreements made prior to such time.
Http://ethernitynet.com/wp-content/uploads/2023/11/267254-Ethernity-Networks-Notice-CL-3.pdf
http://ethernitynet.com/wp-content/uploads/2023/11/267255-Ethernity-Networks-Proxy-CL-2.pdf
Resolution 1 seeks to make available a sufficient number of Ordinary Shares. The Company is seeking to
increase its authorised share capital to NIS 600,000, consisting of 600,000,000 Ordinary Shares, each having
a nominal value of NIS 0.001.
Further to the above, Resolution 2 will enable the Directors to allot Ordinary Shares or other Equity Securities
on a non-pre-emptive basis, up to an aggregate nominal value of NIS200,000.00 (equivalent to 200,000,000
Ordinary Shares), which is equal to approximately 134% of the nominal value of the issued ordinary share
capital of the Company as of 9 November 2023 or in connection with a rights issue or similar offer. The
Directors believe that the authority provided by this Resolution 2 will maintain a desirable degree of flexibility
during this challenging period for the Company. Unless previously revoked or varied, the authority granted
by this resolution will expire on the conclusion of the next annual general meeting of the Company, provided
that it would apply to offers and agreements made prior to such time.
So full year looks bad, a few did warn you
Good news operating P&L costs down 22% and more to come for 2024, probably will drop 45% for full year 2024 vs 2022.
Sales good news has not been released yet, get this out before any raise, if they can.
Company has orders being looked at as Tech is great expect more good news.
The RNS is a big positive but raise is stressed again.
It seems the 5 reports mechanism worked taking down my weekends informational work. Disappointing LSE don't read it but just take it down on the advise of a few from the dodgy brigade, those leading the charge of the massive ramp that's been going on.
Now will the SP get high enough to trigger warrants, which would help Ethernity enormously, we will see.