Member Info for skid35

Asher - funny how no one replies with facts and understanding to any of my posts.

Latino - yes the Jan RNS which was 100% wrong when they stated the TSP balance would be paid in Q1, then realising they couldnt pay it. Amazing financial control and forecasting.

As usual worth reminding everyone that ENET RNSs should be under the romantic fiction section. I could copy 95% (100% of post ipo product) of them from the last 5 years and then state what actually happened. So in June 23 (half way through the year) a forecast of $9m revenue, achieved $2.4m.

"This will largely contribute to the targeted $9 million in revenues for 2023 which, as announced on 11 May 2023, the Directors believe is achievable, planned from a variety of revenue streams from current contracts and other anticipated engagements, including design kit, licenses, royalties and UEP link bonding technology and associated software"

Aim, if you don't understand the very, very simple concepts on how the new tech deals were structured to provide them with effectively zero risk (discounted price, backdated price etc), at the expense of existing shareholders, probably best not to post.

RCMP,

If posters keep on writing "contract update shortly" each and every day zzzzzz and then nothing surprisingly happens with ENETs record - we'll continue point to the complete lack of adoption of any of ENETs post IPO products, customers cancelling orders (both in a thriving tech market), a balance sheet which doesn't enable them to do anything and would count them out of 90% plus discussions.......

A mis match of the % of the underlying currency of income and cost at this level is considered a known risk (with the impact known across a number of multiple scenarios) and is within business norms.

Mannan - there is a need to rush with a cash runway of a few weeks, patience here is simply not an option.

You also need to understand working capital and cash conversion cycles should they win a few $100k contracts (still waiting for further Tarana orders they 100% stated would happen through H2 last year, oh yeah - complete BS)

So current trading - next to nothing with zero backlog, pipeline must be threadbare and based on DL having a chat with someone, somewhere about something - he cant quite remember what is was but worth $bns. So near term out of cash again in a few weeks while he and the board all get paid.

Now the saviour ASIC deal, it wont happen but could all the bright sparks here tell me where is ENET getting the co funding multi $m from ?

Agreed it would do 200-500% on a whatever is considered a "decent contract win".

On ASIC I dont think anyone would partner with them, far too unstable and without any financial room to co fund anything.

Other, the requirement for NRE immediate revenue (barely, if even, covering cost) vs downstream royalties isnt an valuable IP business model.

All in all more can kicking down the road, I'll give it six weeks on no news before they need more cash - they simply dont have time to be "patient".

Chance of a material asic deal, less than 5%. Chance that it will happen in the next three months, another 5%. So in total don't look for an RNS any time soon.

Steve

"the remaining balance under the Creditor Settlement Plan, of approximately USD 400,000, will be distributed to the settlement manager's bank account during the first quarter of 2025 (the "Distribution")"

Signed by the CFO who seemingly cant do a cashflow forecast covering 9 weeks, and of course approved by the great and good of the London broker and nomad community without having a clue what a cashflow forecast is.

Mickey - you need to look at the RNS on the 21st Jan that the payment plan would be made in Q1. Completely false with the broker / nomad approval.

Mickey - you've been here about 6-9 months now ?

You have seen zero progress from ENET, a complete lack of communication on where they are (including cash runway) and I would expect you are 75-85% down on your investment.

I have been in a couple of meetings with DL when they had won the chinese business and it was all systems go with a minimum of $10m revenue that year. Came across okay (in his second language) but soon realised the RNSs are basically made up and the whole outfit is amaterish from the BoD down (this includes second hand communication with leavers). DL just deluded and arrogant in what he beleives ENET has and how it sits in the market.

They have had c 5 years from float, all the new products with tens of millions of R&D are worthless, what is left is the "old" tech of the aerospace contracts which dont generate enough income to keep a third of the lights on.

Aim, not arrogance - 40 years in commercial finance / sales operations / contract management in US listed tech companies, admittedly the business units I have been responsible for sell what ENET in a year on a daily basis and with a start of the year pipeline of over $1bn. I know how the companies ENET pretends to want to sell into work - if you are looking to embed a bit of tech that ENET might have into product lines you buy the company (at a massive multiple of current revenue).

Why pay multi million $$ for paid R&D work (as well a 2-3x that internally) when you have very limited control of what ENET is doing (with its history of failure to deliver products) when you can give DL and earn out and buy it ?

There is a massive tech investor sector in the US looking at the Israeli tech companies (many of which are world class) as well as a local network. Why do you think none have invested even a pittance of a few hundred $k into ENET.

Stock,

The "trading statement" was very, very, very selected snippets. Just one example no understanding of how much income was taken on the Siemens deal to have any understanding of underlying business.

The annual account where they are legally obligated to divulge details on recognising revenue 12-18 months prior to cash, stock of over a year, losses massively reduced from aggressive R&D accounting and in the past repricing share options and excessive director rewards.

With ENET its always next week for news.

I really dont think any posters here know the workload in the background to get a deal over the line, the understanding of customer decision making processes and key decision makers - unfortunately with ENET it is made even harder with a very poor management team, inability to attract talent, a history of failure / broken contracts, products / services which are clearly not competitive and a balance sheet worse than a school tuck shop.

Sam, which bit ?

Latino, can remember this being said after they had agreed the TSP deal, DL really, really doesn't learn and this will come around again in a couple of months when the very little cash they have runs dry.

What has he got to communicate and keep investors better informed about at the moment ?

When you look at the criteria PE has of a company, KMK doesnt have it.

The trading update really didnt give the level of detail required to make any assessment of KMK, might well have not sent it.

As usual with KMK all the real detail is in the annual accounts.