Member Info for LearningG

Friday will be interesting

Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around 25 October 2024. The New Ordinary Shares will, upon Admission, rank pari passu with the existing Ordinary Shares in the Company.

Its not the CFO she was an innocent in most of this. The BOD signed this deal she went along with what she was told to, which is probably why she left.

EGM not urgent as with todays dilution they have issued rights to 902,233,909 but if (WHEN) they want to dilute again over 100,000,000 they will to have to change rules with an EGM . It depends on how fast New Tech sell or if news is coming.

Skid is right anything above 0.1p New Tech are making money so they will sell knowing they can convert again if news comes in that's good.

Double twist for ENET is if when the VWAP is below 0.2p then dilution could be infinite unless there is a 25% holding cap .

Its got to be news or dilution to death, for holders lets hope its news.

They are not idiots but failed business managers.

David and team have invested a lot of money at projects and ideas, very few have worked and many they worked hard on were never paid for. (Milestone payments either not in place or in too deep when not paid)

Technically they are very good for such a small firm but surely they could have been more successful with strict financial controls, and a much better CEO running the companies journey, perhaps then they would not have lost PI's all the money that they have backed this BOD with.

I believe they are capped at 25% which would indicate they still had just over 3% held before todays conversion news. They are also capped because of this

hTTps://ethernitynet.com/wp-content/uploads/2024/09/Ethernity-Articles-of-Association-Amended-28-August-2024.pdf

SHARE CAPITAL

Share Capital

3.1.

The authorized share capital of the Company shall consist of NIS 1,000,000 consisting of

1,000,000,000 Ordinary Shares, each having a nominal value of NIS 0.001. The powers,

preferences, rights, restrictions and other matters relating to the Ordinary Shares are as

set forth in these Articles. All Ordinary Shares rank pari passu in all respects with each other.

Increase of Share Capital

3.2.

The Company may, from time to time, by resolution of the Shareholders increase its authorized

share capital by the creation of new shares. Any such increase shall be in such amount and shall

be divided into shares of such nominal amounts, and such shares shall confer such rights and

preferences, and shall be subject to such restrictions, as such resolution shall provide. Such rights

and restrictions shall apply to the relevant shares as if the same were set out in these Articles.

They will have to have another EGM to agree to raise 1,000,000,000 to next dilutive level.

PC07 really? Why are you enjoying victimisation of the vulnerable. Good to see you are a regular poster.

The hope is after many long years the company has finally got some news to share. Sadly this management team has been promising the hope for too long and has cost many PIs a lot of money including me.

Conversion calculations explained on post by me 16/10/24 at 13:57

GLA

Current shares were 707,233,909

New total shares will be

£195,000 at £0.001– 195,000,000

New total 902,233,909

New Tech then now holds at least 21.6% hinting they have still 3.4% left to clear as we believe they are capped at 25% of the company

After this conversion

New Tech has £210,000 more to convert.

They have agreed to convert to get 40,000,000 at 0.01 =£40,000

That leaves £170,000 to convert at 0.01 or worse

170,000 at £0.001 = 170,000,000

New base for EPS calculations currently

902,233,909

Best case next conversion

902,233,909 + 40,000,000+170,000,000 = 1,112,233,909.

In reality it could be worse if ridiculous conversion become infinite and is only capped by the 25% limit as outlined on my previous post.

Minimum wage impacts every sizeable retailer as does employers NI. Card are very efficient and as such will be one of the best at dealing with cost increases. Lets hope Rachel understand the imbalance on the rates system on High street businesses as for too long they have closed making high streets soulless. Warehouse operators need to pay a bigger share of a rate rebalance to shore up her books.

I guess the question is how long will it be left before the next conversion is completed.

Reminder of what's at stake

Current shares 707,233,900

to get 25% new shares for New Tech share would be increased to 942,978,533

that's

235,744,633 shares to New Tech at £0.001 costing them £235k leaving them £170k still to convert.

As we know ENET can not let the price drop for long as it allows New Tech another massive conversion after the incoming one. Its fascinating to see how this plays it took 5 days to list the shares last time so ENET will have a window. Though the SP started dropping on announcement day.

Big question is do they, after 6 long years of non delivery, have any really good news? Over to David and the Crew.

Tomorrow may be newsworthy on New Tech, ENET release RNS's as and when they fancy so stay alert. Once that is out drum roll and we will see.

Look at page 483 (25 messages a page) last year and you will see this has happened before SP spiked to 3.7p and then dropped back 0.8p within a week. I understand people wanted to get in before the spike on news (like I did).

You have to have substance before you puts eggs in this basket. Read the hype over those few days some of the pump and dumpers are still around but most sneaked away changed their id and pumped the next one.

Be warned.

G1 and G2 orders were flagged on 19th April FY Results

"We are pleased to report continued revenue growth in 2023 from our U.S. fixed wireless broadband solution customer. Furthermore, we are actively engaged in the development of a second-generation product for this customer. This development effort is ongoing in 2024, and we have been advised that the customer anticipates placing new orders for both the first and second generation products throughout the second half of 2024. The customer's rollout ramp-up plan for the second-generation product is scheduled to take place during 2025. We ended 2023 with two significant contract wins from existing customers:"

"throughout the second half of 2024" well up to 17th October NIL, unless the company is treating as business as usual.

The news if it is to happen will come after the next New Tech conversion, but we have said that before with ENET and the news did not come. 2 months and 14 days to go.

Laura

I held and bought more on the way down, in a way I struggle to justify. I lost a large (to me) amount of money and have reasoned to stay away from such purchases until facts are reality and I no longer invest in cashless wonders, as such i have recovered a part of the ENET black hole.

Painful lesson. When I see the same lies and fomo that I fell for I feel compelled to speak up. ENET has the potential to be a great company but they must start delivering results. I hold no shares or warrants but will buy if they actually do what they have promised to do for so long.

Hello Yes it was agreed in the contract and detailed in the RNS that explained the mechanism. It suits New Tech not share holders. To be fair to New Tech if I was asked to invest in high a risk company I would want protection. This way if SP does leap up New Tech can still convert at lower price. It was a tough deal they negotiated with ENET but that was the desperation of ENET that agreed to it.

What ENET have to deliver is the revenue they have promised for many years now.

Current shares 707,233,900

to get 25% new shares for New Tech share would be increased to 942,978,533

that's

235,744,633 shares to New Tech at £0.001 costing them £235k leaving them £170k still to convert.

It was a desperate raise.

It is very easy to get sucked in with FOMO, I was with this share, I learned the hard way, that's my agenda here. Listen to facts not pump and dump merchants

From 15th July RNS

Following the conclusion of this initial 45-day period (which has now passed) the Warrant exercise price (the “Exercise Price”) is calculated as the average (in pounds Sterling, rounded down to three decimal places) of the lowest five daily VWAPs of an Ordinary Share (rounded down to three decimal places) during the twenty trading days before the receipt of a Warrant exercise notice by the Company, less a 15% discount, rounded down to the nearest one tenth of a penny.

If we could agree SP has been 0.25p (pick your own figure)

Expressed as pounds sterling that is £0.0025

Round down to 3 decimals you get £0.002

Take off 15% you get £0.0017

Round down to 3 decimals to nearest 10th of a penny you get £0.001

That is over 50% SP drop. Worse.

If VWAP gets below £0.002 say £0.0019

Round down to 3 decimals you get £0.001

Take off 15% you get £0.00085

Round down to 3 decimals to nearest 10th of a penny you get £0.000 so infinite dilution.

This is why you should care about the VWAPS dilution could be massive but company will work very hard to keep it above £0.002 for obvious reasons.

This is my understanding from what was a desperate fund raise. Note maximum holding believed to be 25%.

Yes they are probably on 20m but they need these LSE boards to get very excited to get them over the finishing line with the VWAPS. buy buy buy. Or research 405k VWAPS and wait.

They always used to like Wednesdays and Thursdays. No one likes Fridays these days.

What about the Vwaps with 25% of the company soon to be converted at a lower price?

i agree SP with fly if they start to run a profitable company but over many years they have promised, mislead and failed.