Member Info for skid35

Anything where the customer relies on ENET to actually do any work and to put any trust in DL has absolutely minimal chance - as seen below from July. No one will risk their career championing ENET in their organisation. Clear ENET, under Ilan at this time who created a $50m pipeline for ENET according to his linkedin, did not do the very basics a sales professional would in opportunity management and qualification.

"New European RoLT OEM Customer.Following multiple meetings with a European OEM over the last two years, the Company has recently aligned with this possible customer on a technical proposal that leverages their existing platform to deliver a flexible, FPGA-based PON solution. Commercial terms have been agreed, and execution is now pending with the customer's final internal approval"

Only hope really is a platform licence where no work is required and the customer can protect themselves from ENET with Escrow etc. If (a very, very big if ) they can close this a a two - three month sticking plaster, and the customer knows just how desperate ENET are and can dictate pricing and terms.

Santiago, you do know your posts from October / November are still there don't you ?

Arne, looks like you and me.

Good to see we now have a base above 50p and director buys. Looking for a business update due next week to hopefully get a few more interested and in a different trading range.

Letitrun. You shouldn't have to read an RNS a few times to understand it. The title of the RNS is "Large order and Record Early Orders for 2026" - its about orders.

"This approach has delivered a record start to FY2026, with over £800K in orders secured from four partners".

They didnt "secure" the £800k of orders in 2026 did they, what they secured is the backlog and 2026 income associated with the backlog from Nov 25 and Jan 26 orders. You shouldn't have to realise this from other paragraphs.

This is like a conversation with a two year old.

Letitrun.

1. "This approach has delivered a record start to FY2026, with over £800K in orders secured from four partners". So these are ordered RECIEVED wholly in 2026 from four partners for £800k

2. "These are confirmed orders with a no cancellation clause and includes the low six figure order received in November 2025 from a well-known weight management company (RNS: 17 November 2025) planned for delivery and launch in H1 2026, the Meelung orders, and two other partners". So still the four partners, but now one of these was from an order in November 2025.

So contradictory statements.

Crumbs - nice to see you are even more in the blue today. Always nice when youve held a stock that goes down, youve kept faith, and then it comes back up.

As the stock is so illiquid even small trades move the price - both up and down.

Well, there's a V in the name so I'm sure it's related to Nvidia.

Letitrun, so the orders haven't been received but are confirmed with no cancellation?

The issue is the lack.of clarity of the value.

And as a qualified accountant the contractual terms determine income recognition - you don't have to have shipped to the customer to recognise income, alternatively you still may not have income even if you have delivered.

"This approach has delivered a record start to FY2026, with over £800K in orders secured from four partners. These will be delivered at various point throughout FY2026 when they will be recorded and reported in the Company's FY2026 accounts. These are confirmed orders with a no cancellation clause and includes the low six figure order received in November 2025 from a well-known weight management company (RNS: 17 November 2025) planned for delivery and launch in H1 2026, the Meelung orders, and two other partners."

Looking at this again, this really is just appalling, shockingly poor.

So - £800k from four partners where the order have been received in 2026 - but in a later sentence somehow the £800k of orders received in 2026 now includes the order from November 2025 ???????

So it is 1. we have a record start with orders received in 2026 together with the order in November now providing a backlog of £800k 2. Or a higher amount (say £950k but not explicitly mentioned) will be recognised in 2026 - the £800k of new orders plus unknown value of the Nov deal.

Where's that TR1 we have been promised on X ?

Finger.

Pricing was purely an excuse, the pricing change ws purely in the chip which Tarana would have to buy elsewhere. You simply didnt want ENET IP as an integral element of your stack, or have to declare it as a key business risk in IPO documents

Just listed to the presentation, deeply unimpressed. Really don't seem to have moved on in actually selling anything. Questions again not answered.

Angus really shouldn't be anywhere near a tech company.

Adyan.

The RNS is terribly badly worded between the £800k orders in Jan 26, and then mentioning the order from Nov 26. I took this as the both are due for income recognition in 26. I cannot understand how many people must have proof read this, and thought it was correct.

Positive RNS today, glad to see all shareholders being treated equally from yesterdays RNS.

Still hope there was something in the director buys late last year well above the current share price.

So how long is CB on X going to wait for the TR1 ?

Crumbs, two nice risers today in MYX and WISE, the rest down. Will be good to understand the expectations for the current year and the variables up and down - another couple of multi $m wins will put a wind in the sails. Interesting to see what the Harwood guys do next, listened to the Paul Hill Pod with them and they didnt mention it.

Great numbers today, cash surprisingly so. Understandly cautious on the outlook for 26 at present, one deal can sway the outcome massively. Looking for more on pfas, hopefully a model with a volume of small value high margin rentals to even out the big deals.

Inventories just ridiculous, if they cam down to six months they would be stuffed full of cash

CB as accurate as ever on X.

Keep the lights on for a.month or two MIGHT be a small platform licence and volume prepayment, all at massive discounts.

Any post JOKe joke products, will go the same way as the ASIC multi millions of nre - totally and completely unqualified and shouldn't be allowed on a business update.

Incredible that he earns c £200k a year. As I've said before, I don't see what he does in a daily basis.