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So it looks like H2 revenue will be between $150-$200k from royalties (£110k to £150k), and possibly some income from NRE. As usual no $$ values in the last RNS on existing royalty business which doesnt even cover DLs bloated salary.

Its good that the "Based on the scopes of work being discussed with potential new customers, Ethernity expects to secure new contracts for our Carrier Ethernet and PON technology, in incremental non-recurring engineering (NRE) revenue in 2024 on top of our established business. This momentum positions us for significant future growth as our OEM partners leverage our solutions to win market share and generate revenue for themselves. We anticipate this will translate into substantial new revenue opportunities for Ethernity in 2025" and "The Company estimates that the overall non-recurring engineering ("NRE") amount for the ASIC would be in the range of $15m-$17m, including ASIC design, contribution to Ethernity and the associated IP, which would need to be funded by the prospective customers and be accompanied by minimum purchase commitments for the finished product" there is so much coming through.

Probably best to look at the three opportunities mid year this year - why was there no update on any of these in the recent rns especially the second one where it has been six months for an approval - all lost as they werent qualified opportunities and now repalced with others that arent qualified opportunities.

"New U.S RoLT OEM engagement -Following the submission of a commercial proposal, the Company is in active discussions with another leading Remote OLT vendor seeking to migrate their existing OLT design to Ethernity's PON technology. Technical evaluation and solution alignment are progressing positively. 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. New Potential PON ASIC Collaboration

A major European semiconductor vendor is currently evaluating a potential ASIC fabrication based on Ethernity's PON technology, following a quotation request from a leading PON OEM system supplier. Technical and Commercial Discussions remain at an early stage, and the timing of execution is yet to be determined, however it demonstrates a need for Ethernity's IP for execution of variant ASICs for Broadband, Mobile and Carrier Ethernet market".

The RNSs have proven to be a work of fiction, what has changed to make the last one any better ?

Some clever manipulation her, on X, on Advfn but with a spread difficult for traders to be in and out.

Lunchtime here and ENET has 100x more posts than the well run companies in my watchlist, with the pumpers actually believing the ENET panto from the last RNS, well it is Xmas after all.

As the latest quartet just believe an RNS with no independent thought process worth noting what posters here last year were reliant here on from DL. None of them ever got anywhere as they simply weren't qualified opportunities, rinse and repeat, rinse and repeat....

"While no contract has been signed yet with these vendors nor can there be any guarantee that contracts will be signed, we are making progress in negotiating with one of the two vendors that has indicated an interest to select Ethernity and in funding an extensive part of the NRE required for the ASIC development and the Company is exploring the possibility of additional NRE being funded from another vendor"

"The Company estimates that the overall non-recurring engineering ("NRE") amount for the ASIC would be in the range of $15m-$17m, including ASIC design, contribution to Ethernity and the associated IP, which would need to be funded by the prospective customers and be accompanied by minimum purchase commitments for the finished product."

"Recently, the Company has commenced discussions on two new potential opportunities to expand the business with this customer. The first is an opportunity to provide customization services, as an extension of the contract won earlier this year. The second is a significantly larger opportunity with a new division within the same customer group, that is interested in deploying the Company's technology on their platform. This additional opportunity, should a contract be signed based on current discussions, would involve customized development, resulting in substantial NRE to Ethernity and additional license payments".

"The Company has received interest from two Global Tier-1 OEMs to co-fund and adopt an ASIC solution from Ethernity. Should they choose to proceed this could lead to a significant increase in NRE payments to the Company in 2025-2026. Management believes that there is an addressable market that could enable the Company to achieve significant revenue growth over the coming years and aspire for the Company to reach annual revenues exceeding $35 million in five years."

Optic, they are always late where there has been a recent placing on small caps, take a look at RCFX etc. The problem is the sizes and time between dilution with ENET means it is always out of date and a fraction of what it should be.

There really is nothing optimistic to say about ENET, it should be wound up.rather than a gravy train for the bod.

And no, you can't short ENET as someone is taking the counter risk which no institution would do.

Flightman, I really don't like potential investors taking ENET business updates as anything but fanciful in the extreme, with DL just keeping his $250k rolling over. When I saw Twib take 3% of the company to probably lose 2/3rds of his money in a couple of months to them sell out, before it dropped further, it was really sad knowing the outcome in advance.

Everyone has your view for about three months when they are new to ENET, only to be disappointed - sincerely hope you will be different but I doubt it.

By the way, you are clearly stating insider trading in ENET.

Flightman, you have posted x times what I have in the last few days.

I just ask questions, but don't get any replies. You're absolutely correct this could easily far more than 400% on a decent contract. You're betting if you take 4 of the positions in similar companies one comes good.

As I say, just look at the business updates from the last few years. Opportunities soon forgotten replaced by another few, rinse and repeat.

Coming from US tech companies who spend hundreds of millions on small bolt on acquisitions if they see something they like, with Israeli and US VC stuffed with cash, I can safely say brighter people than you and I have looked over this and seen nothing of value.

So you are now 10x where you thought it was from your extensive research.

Honestly, please take a look at the business updates, annual reports from the last three years and see how honest they have been and how they have executed against what they perceived was the market opportunity.

Yes, it has one of the lowest market caps for very good reason after year after after year of total failure.

Mannan.

From history the company being confident means it won't happen. Current yearly royalty levels are pitiful at around two months opex and less than DLs salary, after 10s of millions wasted on r&d. On the third and fourth point, their licence which has one million sales has a unit price in cents not dollars. Expanding a portfolio, which sells zero, means they will continue to sell zero.

As well as defence I thought they would add AI into the mix to get the gullible going.

Optic, you need to do some research as that is the market cap now.

Optic. I suppose of the market cap increases six fold.from £50k to about £350k you would be really happy.

Spectral, no they are not.

Sales management is understanding who makes a purchase decision, on what basis and the approval.process. There are probably less than 100 key people worldwide that should be in the kmk black book.

Optic.

So your buying is based on the market cap being £50k ?

No the latest RNS says they have no real revenue, no backlog, no cash and a monthly expenses bill. Im not sure you understand what cash positive is.

We have a revolving door of muppets who last about 3-6 months before disappearing. The current four will go the same way as trickey, mickey, twib did a month or two ago realising DL has trousered £100k plus in the time they have been posting for doing SFA.

Honestly just steer clear of ENET and DL, unless you have inside knowledge from a customer (where you shouldnt trade anyway)

The three newbies need to do a bit of basic work here and read the past RNSs, and then see what DL actually executes. Every one is littered with statements on customer engagement, progress, interest - all proven lies over about five years since IPO backed by "the directors believe".

I've just picked one to provide a laugh, but any RNS, annual / interim report, business update will have a few DL gems.

"Strategy update Ethernity's Passive Optical Network ("PON") controller technology can be used in different broadband network configurations and platforms including in fiber-to-the-premises ("FTTP"), fiber-to-the-building ("FTTB") and fiber-to-the-home/fiber-to-the-room ("FTTH"/"FTTR") (together, "FTTx"). This provides Ethernity with the opportunity to offer its PON solutions for a variety of different scenarios.

There is significant global investment in improving fiber connectivity, particularly in the EU, USA and India. FTTH Council Europe has estimated that by 2027 approximately 300 million homes will be connected to fiber. In the USA, $42.5 billion has been allocated to investment in broadband infrastructure projects pursuant to the "Broadband Equity, Access, and Deployment (BEAD) Program". With certain of those territories banning the use of products manufactured by Chinese system vendors, this has provided the opportunity for new vendors to enter the market.

Ethernity's go to market strategy is to provide an alternative source of PON technology for system vendors, by offering the Company's PON controller both on Field Programmable Gate Arrays ("FPGAs") and in application specific integrated circuits ("ASICs"), whilst combining its PON technology and flow processor switch technology onto a single ASIC, thereby delivering a complete Optical Line Terminal ("OLT") on a chip.

The Company's customized PON solution on FPGAs will be offered on a licensing model which, the Directors believe, will provide a more cost-effective solution to prospective customers for certain PON applications, compared to the existing devices in the market. ASIC sales are expected to represent a larger portion of the total addressable market and will be targeted on a revenue sharing model with ASIC vendors. This new revenue sharing model, which the Company has already begun to discuss with certain customers, should improve the Company's gross margin compared to its existing product sales and would allow Ethernity to target larger scale PON platform contracts."

Expect Simon will, as he always does, forget that he recommended this when it was 25% higher.

The IP clearly isn't worth multiples, or if would actually sell more than a couple of hundred $ a year. All post IPO developments have not sold a cent.

Flightman, sites like simplywallst or mystic meg are not reliable sources, they aren't even speculative they are just stupid. You not showing balance, you're showing a lack of understanding.

Flightman,

You really do need to read RNSs.

"repay short-term debt and creditor obligations", no they dont have £350k cash.

"The customer has indicated its intention to engage in discussions". Classic, classic DL - so just had a chat with a bloke at a bar after a conference and swapped business cards, the other bloke just chucked it in the bin.

"It remains confident" coming out of the mouth of the liar and fraud DL just carries zero weight and believability. You just have to look back at any RNS or business updates since IPO to realise this.

Royalties, if you increase SFA royalties by a few percentage point or units, its still SFA.