Member Info for skid35

Sergi.
Hope you're enjoying the sun !
I think you're still being more conservative even than you think, so much we don't know about even on deals than could close in the immediate future let alone what's in the pipeline at very early stages. With a stable opex number the ability to scale the bottom line at a significant multiple of revenue is incredible past breakeven.
Although I don't believe ENET should be valued based on cash and tangible assets, a move from cash to less liquid assets of debtors / stock shouldn't mean they have much less value.
But as you say, even with what ENET should have in contracted backlog at the end of this year it forms a great minimum baseline which grows quarter and quarter as we go through 2022. Looking forward to you updating your model on a monthly basis as the rnss flow.

As with most on the board have a watch list of interesting stocks, some as potential buys others just out of interest.
Just looking at two who, if you take ENETs cash out, are worth more - Crossword CCS and Brandshield BRSD. Absolutely no where near ENET in terms of market positioning and competitive IP, potential growth and ability to hopefully throw off profit and cash.
Also following Calnex CLX (£100m market cap) which has revenue £18m and a balance sheet where ENET could be next year (although differences elsewhere), With higher growth prospects ENET should have a higher PE though.
While pretty p###ed off with the current price (even with the badly communicated fundraise) this should be in the forties awaiting news.
Just sitting on the guidelines now waiting for the hoped for action to take the price to a "respectable" range rather than "outlandish" level, after a couple of years of being very, very patient this can't come too soon.

Uhlf.
It is a very sad state of affairs that we see this board is the place where we gain a greater understanding of the company, rather than investor meet recordings, the investor comms website etc.
This week should be the watershed for the company where they stop treating private investors who have supported them over such a long period of time as an irritant.
I did write to the ceo, cfo and chair last Monday and responses were basically if you don't understand what we haven't told you this really is your problem, unacceptable.
I hope this is just a lack of experience in the management team in IR in an AIM company as I still have a very, very high degree of confidence in the management team, the tech and operational delivery. I would like the Chair to get off his backside and understand that where you have a CEO that appears to be a technical genius in understanding the market well in advance but is not a natural salesman, the organisation needs to fill this gap.
At 36p and valuation of c 26m with the new funding the shareprice, imho, is just bonkers. Even if the BOD are looking at the long term, they should be ashamed the market values what they have already achieved and the future opportunity, at this level.

Have been looking at this stock for sometime and have held off, on a strategic level not sure how it can compete with aws, google, Microsoft and all the other companies that operate on a worldwide basis, let alone European it / Indian it suppliers.

Bid - I had mine in my account start of play yesterday - a j bell.
Hopeful that the institution shares are with funds that have stated / cultivated an active interest in ENET and the management team over a period of time so under the opportunity, not some churn merchants.

New Cenkos report out for those who want to take a look, doesn't really say a lot or add any additional insight from the prior note.
As others have said good progress showing they are managing the company well, but nothing earth shattering.

Just received my £1 divi for 10k shares. Whats the point ?

Thanks, will read these with interest, post period events and forward view will be the interesting read rather than results.

Sergi, for info although I have worked 30 years plus in senior emea commercial finance roles in the tech / software sector I am also a qualified accountant, so do understand the p&l / balance sheet / cash flow issues and interaction.
Yes, I researched silicom after you mentioned it and was shocked with both the levels and turns of inventory and debtors and if enet has a similar business model and margins were massively, massively underfunded. But took the interim statement at face value as the BOD know the business.
Keep on providing your slant on enet, as more of a numbers man it is great that others on the board provide tech, market and other business insight to help fill my gaps.

With the new shares we should be at a market cap of 25m vs 30m last week. Despite the very legitimate concerns a lot of holders saw in the cash raise, this is just crazy cheap with the potential ahead.

Must say pretty surprised at the level of the broker option, especially if you take off my allocation !
All done and dusted. Onwards and upwards.

Must say pretty surprised at the level of the broker option, especially if you take off my allocation !
All done and dusted. Onwards and upwards.

Decent results, post period events are the significant highlights.

Dallo.
As you know a LTH and ENET champion with a share subscription placed so you know where I think the company is heading, but come on a little balance please.

Why the hell it is a surprise to an experienced board that, within the opportunity pipeline individually and in totality that ENET have, that a company trying to contract with a multi year, multi $m contract operating at the very heart of their service operations would want to deal with a well funded company. I know you're a very senior qualified finance guy with a shed load of experience, you know this really is GCSE level stuff not advanced financial management.

For the board to then categorically state 100% (in an interim report where they have very specific legal and statutory obligations) that they are fully funded for 16 months, 16 months in this industry, - no ifs, no buts - when they are aware that clear investors are specifically looking at this specific key piece of information is problematic. I had been a fan of the very conservative IR from ENET knowing just how difficult it is to forecast a business with binary opportunities, leading edge tech in a market still in the womb - so this really stuck out.

I am of of the same opinion as you that (hopefully) there is an exceptional, unexpected level of business opportunity here developed since the interim report, which was completely and totally unforeseeable. If ENET does win big, their delivery, operational and financial management needs to be absolutely top notch.
Anyway - all speculation hopefully we will all be laughing about these conversations by the end of the year and we can all toast a virtual beer if the UK shops haven't run dry.

Acq.
I know a lot of posts here on the pathogen detector which has the possibility to be a very very thick slice of icing on the cake. But the cake should provide for a significantly higher share price if, if....

Interesting centos research note out today, primarily focused on the "old" core business around Canon buying A competitor Redlen.
As always with kromek really up to the BOD and management team to execute against the opportunity.

Last post from me as I seem to be boring icepick.

Next bone will be the PI allocation of this is heavily scaled back.

Sergi.
The issue is not the cash raise, it's the BOD communication and underlying this control and understanding of working capital.
Why not hedge yourself a bit and state "based on current business expectations we believe we have current cash resources through to the end of '22". Then the rns states we have a significant change in expectations.
Whatever happens now there is simply no place for the BOD and management team to hide, no more delays, no more excuses - time to deliver.

Uhlf, 01234.
This would be insider trading, illegal and call into doubt the integrity of the board.
I would like to know who the new investors are, and what information has been given to them which is not being given to PIs.

Dallo.
So one of the options I put forward earlier today, the expectations they now have were not considered even as a remote possibility five weeks ago - effectively a perfect storm / best case scenario across multiple contracts.

If so, really looking forward to multiple rnss of expansion of existing contracts and major new contracts which completely change the trajectory of the company.

At the end of q4 the company really does need to go through these business opportunities direct with shareholders on an investor meet at a detailed level, including expectations of revenue / margin / working capital for 22 and beyond. A sh###y ppt doesn't cut it anymore.