Member Info for skid35

Col. ENET are not a manufacturer, so no. The sales cycle is anywhere between 12 and 36 months, even if they had competitive products that the market wants and where customers trust a company with no money embedding tech in their stack, it won't make a difference.

The problem with the trump style bold letters RNS is that it just doesn't show any way forward afterwards for any period of time. They have no business, no backlog, a very threadbare immediate pipeline if any and, from another turnabout in strategy, a new line in magic beans somewhere in the future where they have made no progress in a year.

Mickey,

There are absolutely tonnes of boutique tech investors in both Israel and the US with $bns of cash, Israel has some incredible tech companies. If they had decent (not world leading) tech that had niche applications these companies would be banging the door down. The only investor they used to have was Miton, not a tech specialist, who at one point were supporting every fund raise but sold out after the chinese debacle.

Past discounted issues were a fraction of the then share price allowing these to be sold relatively quickly at a gain as there was also a cash runway. With any new cash now providing no cash runway and the raise being a multiple of existing share the only taker I can see with be DL himself. Not a city boy so unsure of the rules on this level of ownership.

Not sure what you are all complaining about. DL has done a great job.

From December 2nd in a communication with me "I have demonstrated tremendous personal effort in recovering the companys operations during the TSP period, However you....fail to acknowledge the dedication".

Finger -

Broadlight was bankrolled by Broadcom through multiple rounds and the buy price was to buy out small minority interests.

Unfortunately Levi appears to be the Andrew Ridgely of Broadlight, rather than George Michael.

Clear they have zero near term pipeline with ASIC just a complete internal wet dream

So we've moved to the tax loss argument. No, there are anti avoidance measures in place here on utilising past tax losses based on line of business. Next argument.

Because he really hasn't got anything to say. Years of trials, interest etc but clear what he is offering isn't wanted.

Other similar companies such as IP Group and Augmentum at similar discount levels, even where there is a substantial cash balance and an element of listed companies, or companies having recent funding rounds.

I think excitement about the IPO market might turn the tide a little, but with the orange buffoon on charge I cant see that happening any time soon.

Buybacks dont seem to be making much headway either.

Psalm,

Read the RNS. At the date of the RNS they had a backlog of probably around $400k on this contract, including the extension, probably covering 30% of their costs for three months and no other income streams. The remainder of the cash from the contract is gone.

Again, a Father Dougal understanding of dilution. Again the market cap is not £200k.

Profitjock,

As other have pointed out your vast research has indicated your market cap is completely wrong.

The million odd from the aerospace contract is in the past and paid and not forward income, and they still dont have the money for the TSP exit. They effectively have zero, zero backlog and a forward view on income, and costs of $300k + a month.

Reminds me of the Father Ted sketch with the toy cow....

As I said, you don't understand the terminology or the basic maths.

After being a qualified FD managing emea entities of US tech companies where the Emea revenue in 36 hours the same as ENET does in a year, pre retirement part of what I do is value private tech spin outs where there are regular cash raises. So a bit of a knowitall.

Now your numbers where you are again confusing market cap, share count, share price, dilution.

In your first instance the market cap goes to £15m (as it includes £5m cash), existing holders diluted 50%, share price 7.5p (all things being equal).

If ENET is about £450k at .03p with 1,500m shares. They raise £900k for 4,500m shares at .02. Share cap £1.35m, 6,000m shares, share price goes down to 0.0225p and holders diluted 75% (all with a lot of assumptions they can raise butt the numbers will be far, far worse).

Company size is not relevant.

A brief look at CPAI and it's not the same.

Every share has the possibility of zero, the % risk is different and in ENETs case is very high.

You dont understand dilution and share cap. If a company is valued at 1m and doubles capital at the current share price it is then valued at £2m (with £1m cash), if you didnt participate you have 50% of your previous ownership and the same holding value all things being equal. The issue is ENET will issued 3/4/5 x the current share count at a very substantial discount taking the share price down of existing holders.

Hi NT, the usual average debtor days calculation doesnt work on SaaS models where a substantial proportion of sales and therefore renewals are in the final quarter / month. They have added "fy2024 receivables outstanding at year end received within term", so hopefully no issues although the increase is 34%. Deferred income, on the other side, has increased 38%.

Psalm,

No, clearly it doesnt hold the risk of any other share (no cash, no backlog, failure to convert pipeline, limited customers, past failed and cancelled contracts, poor BOD and management team, part time head of sales....) - and at the same time somehow exponential upside.

No, cant see new account - learning and ETH, finger all long time posters but even between the three of them less than blackhorse who still hasnt made one post based on facts.

No, an NRE order vs licence shows a lack of IP and therefore margin. I think they are knowingly making a loss here but it is better to make a smaller loss.

A quick glance this morning and thought so to.

A more detailed look just now, possibly a concern on intangibles / capitalisation of development. R&D and capitalisation gone up 75% YoY, but amortisation flat. Either a change in accounting (possibly including overheads) or a massive increase in R&D.

Hence flat YoY cash but rise in EBITDA.

Usda agricultural research service leaked email, not allowed to use the word PFAS.

- so the short term is issue 5x current share count below .02, an immediate change in share price to this price (doubt they can get it away unless all buys it all)

- You need to look at all the rnss on uep2025 and see what was promised and has happened, then substitute uep2025 (or pon, ftth etc) with asic

Eth,finger.

Over the last couple of years seen plenty of blackhorses come then go quietly never to be heard again - bh the new mickey/ tricky / hull who unfortunately thought the share price couldn't go lower.