Member Info for skid35

Article in times today, behind paywall, on pfas. Now becoming mainstream and higher priority as the damage being done is recognised.

They are in the Panama papers - icij.org.

I don't get it.
So SOH says they haven't got enough highly paid people to sell their own IP yet sell peanuts, yet now they are selling far lower margin product which they don't hold the IP?
Seems like their own IP isn't that great, and certainly hasn't got anything special vs the market.
SOH needs to get his finger out, stop strategising and start delivering.

Who are these guys, couldn't find out anything about them apart from being in a very dodgy tax haven? Any other investments they have, past investments, long / short term holders?

I've seen some very stupid comments on boards before....just seems PATT wants a bit of attention.
Tarana is unfortunately of much higher importance at the moment than we all would have hoped - however now a source of regular, predictable and increasing high margin, zero risk revenue. Still believe it more than backs up the current market cap.

LG
Just thinking of the three day window which provides limited protection - with low volume tomorrow the price is set on a grand or two of trades.
I did look through some of their past investment decisions and what they did afterwards. Simec Atlantic particularly interesting.
They don't seem that great at picking winners, not exactly in James Anderson territory. Agree, let's hope they see the way forward and enet gets some IR out which helps demand side.

If I was aware the rns half year update was coming in the next couple of days with the potential of decent / good news with 5g triggering, with this volume it's actually worth my while (and about 10-15 other holders) to pay well, well over the odds for a few thousand shares.

Reading this I think, unfortunately, revenues are a year or two out.
My faith in SOH pretty much shot after the last rns, but also his judgement with exec comp and related parties.
Judging by recent performance we don't see that opti has the ability to develop partners to material and gradually increasing quarterly high margin revenue streams.
I think we are now more reliant on a mega sweetbio deal than I ever thought, without a portfolio of 10-20 partners all providing a nice steady beat of qtr revenue.

Forgot to say as usual reporting in dollars - sterling reporting even better.

Still have a gripe they don't split out renewals from New business, although new customer count still strong.

Continued strong results and good outlook across all kpis - the juniper relationship still strong.
Really don't know why this isn't talked about more, especially as it is in a hot space. Always wondered whether a US listing would help.
Will be interesting to see how the new cro gets on further developing the us.

Again, as expected, some real gems deep in the annual report - forget the year on year strategic fluffy stuff in the first few pages apart from looking back to see what they said in the past and what they have actually achieved.
I have always had issues with the external auditors and the board audit /risk committee after the AROC debacle as I simply still fail to understand that the company was following basic accounting standards (the notes on page 69 that this is covid related dont make sense, a poor risky contract badly managed.

OPERATIONS.
Clearly with the level of debtors and inventory there are still issues here. Inventory turns (even building in issues and retrospective nature of the KPI) just dont make sense at about 17 months - and remember this is after impairments of nearly a million. Debtors, again impaired with a further half million in the year represent about a years revenue. Debtors will be a mix of invoices but also revenue recognised prior to invoicing. Outside the impairments there is still a massive amount of aged debt not impaired. I expect both measures are probably amongst the bottom 1 or 2% of listed companies, major red flags.
With such poor basic operations management no real surprise that they cannot forecast cash and breach banking covenants (page 78).
INTANGIBLES.
Firstly using 10 years / 15 years to justify intangibles is a bit rich, especially in a serial failure such as Kromek which has simply not proven its business model. Really unsure why they have changed the time period on the US from prior year from 10 to 15 years.
Intangibles of £28.4m, a growth of £4.3m appear very high compared to what they have achieved, forward forecasts from kmk which justify this by many multiples need to be taken with a pinch of salt - they state they have zero growth in years 1&2 so growth after that with discount rates must be massive.

As well as a poor audit board the remuneration board seems to be run as a rubber stamp, the Chairman clearly not doing his job across all of these internal boards. Remember in last years accounts after the former useless CFO "left" his options were repriced and over a longer time period as well as being given a chunk more (this in addition to a package) - without exception the worse abuse of shareholders funds I have ever seen.
So after another terrible year own glorious leader has been given a 17% pay increase. In addition awarded 1m shares at 1p with performance criteria (making the coffee?) and a further 400k at 1p with no performance criteria.
Looking forward to Simon Thompson's deep understanding and analysis of these issues.

1. Apologies all we should stick to company stuff not stray into politics, however since the 5G announcement sterling has dived making the $ more dilutive as the market sees the policies coming.
2. An opinion isn't defamatory, she hasn't come from a difficult background, I've a great life thanks.

ETH.
Unfortunately with the current share price based on any positive news and now seemingly built in massive dilution, yes
- in terms of the RNS this week these things happen, but usually when you have a much wider and more stable portfolio of contracts.
- the next update is key and needs to be comprehensive across the portfolio and in deep, deep detail, covering existing contracts and royalty revenue / margins, weighted pipeline and immediate opportunities, cash and working capital cycles - hopefully with rnss with $ contracts sometime in sept.
- newsflow across the sector is increasing with alliances being set, especially private 5g. If ENET are in the foodchain somewhere with the big boys at the top I believe MOUs are rnsable so disappointing there is no chatter here.
- the issue is however good the update is, and whether market believes it, the share price has been set for 5g in the 15 and 3 day timeframes.
- on top of this we have an overall unstable uk economy and aim market, sterling in the toilet and a complete idiot coming in as PM following the previous complete idiot - although ENET is not in anyway a UK company it has uk investors impacted by overall terrible UK confidence and sitting on their hands.

Still no annual report.

I have asked a couple of times a while ago on thoughts on vmware (now owned by broadcom) as a potential collaborator / competitor with enet. What they do with software to reduce hardware requirements in the data centre and network, with their position in the market and financial muscle it always seemed 5g would be an area to target.
Getting tiring to see too many announcements now where ENET could be playing, with radio silence from ENET. Even if they are under NDA they have to release vague RNSs without company names. At the London meeting DL stated they were talking with some large companies (which I take to be in the multi $bn turnover not OEMs at wispa), time for ENET to appear with the big boys to transform the outlook.

I dont think I have seen a much worse RNS than this, both in its content, its lack of content and underlying message on their ability to gain traction in the market.
- I thought they were building a decent portfolio of deals of varying sizes across geographies to not be so reliant on a couple of large orders, but this doesnt appear to be the case.
- I know from a portfolio you expect x % to come good, y % to fall by the way side but the success rate from the pipeline appears to be appalling, and the ramping after a win pretty non existant.
- Too much time mucking about on financial gimmicks on spin offs rather than focus on real business, well at least you can double your salary for a few months with two jobs. Spin off to appease a few shareholders was far to early.
- Real issues with business development and exploitation here, they pay through the nose for key people who are apparently as rare as hens teeth, experts in their field with track records of achievement who dont even cover their expenses, let alone their full costs and options. Serious questions need to be asked about hiring, mix of base / bonus and SOH leadership.
Just seem to have lost all year on year progress, deeply disappointed.

zzzzz.
I hope there's a lot more going on behind the scenes that the lack of RNSs currently suggest. We really do need a quarterly rather than half year updates here.

oi_oi.

Good luck with that! Having had a very US blue chip high tech corporate career in commercial / operational finance my pre retirement role is in very advance science, very early stage spin outs. A real eye opener to see whats happening out there, some incredibly bright people but i think youre a few years ahead of yourself.

From Advfn it appears the rise has been due to ZM giving his words of wisdom ?

Agree with you on the issues facing the country, discretionary spend is going to be absolutely decimated so I cant see who would by boohoo, spoons, cineworld etc. Corero has a lot of revenue in $ overseas and opex in £, with £ trashed due to brexit and economic mismanagement a safer company to be in.

Strategic. No it's not, it's primarily a debt instrument not equity.
Really need to ask why they are having working capital issues, debt and inventory write offs in the accounts point to the answer that they don't contract on decent terms or don't actually deliver to contract, and produce inventory of no value.
Again where are the accounts so we can see the detailed notes to the accounts ?

Still waiting.....
Wonder what the accounting gems are this year.