Post of the week4 Dec 2024 10:07
From NanoCapinvestor
Wayne Walter Dyer, the renowned American self-help author, once opined that, “The highest form of ignorance is when you reject something you don't know anything about.”
As a long-term investor in ENET, I have been utterly astonished at some of the misleading and uninformed commentaries posted today by a handful of individuals hell-bent on distorting the picture for their unsavoury motives.
So, for those wishing to engage in a meaningful, mature, and factual discussion, here goes:
• Mahfuz Chowdhury’s holding of 319,815,833 shares in Oracle Power was amassed over two days (from the 26th November – 27th November 2024) at an estimated average price of 0.027p per share (£86,350) courtesy of Level II data. The share price has since doubled.
https://tinyurl.com/3bdwx4b7
• Mahfuz Chowdhury snapped-up 30,000,000 shares in ENET today (03rd December 2024) at a cost of circa £49,500.00 (estimated average share price of 0.165 based on Level II data).
https://tinyurl.com/3k6493uz
• David Levi, ENET’s CEO, increased his holding in the company to 31,817,398 shares on 29th November 2024 after purchasing 1,860,000 shares at an average price of 0.13p per share.
• As at 30 June 2024, the company had a cash balance of £580,711 (inclusive of cash equivalents). This is evidenced in the company’s Interim Financial Statements released on the 26th September 2024.
• On 09th September 2024, 10 weeks ago, the company raised £540,500 (gross) at 0.3p per share.
• On the 25th July 2024, ENET was shortlisted for the prestigious Outstanding Fixed Wireless Access Solution Award in Paris for bridging the digital divide in underserved areas.
https://tinyurl.com/9c624unu
• The ENET BOD is currently in advanced discussions with two Tier-1 wireless backhaul solutions providers. They both have prior experience with the company's tech. A positive outcome from these discussions would be transformative for the company. News on this front is expected any time from now.
• ENET’s primary growth area is in the mobile backhaul market, where the company has a potential addressable market of circa 800,000 ENET devices for 2025.
So, what’s not to like from the above? ENET is fully funded with potentially transformative updates due any time from now. And with a 3.5% stake in the business, and actively buying in the low share price range, the company’s CEO is fully aligned with shareholders.
Of course, the entry of serial investor Mahfuz Chowdhury, who primarily seeks out grossly mispriced nano-caps, underpins the obscene undervaluation of the stock and should accelerate the ongoing revaluation of the stock.