Member Info for skid35

Rosie Huntington-Whitely could ask me out anytime....

So Blackhorse.

Your chance to give us the investment thesis for ENET, let’s say in 3/4 succinct points. Go.

Exms.

Based on his great knowledge I think they believe this board is for a company called AIM plc. What a muppet.

Blackhorse,

As I have said many times on this board DL is a deluded and arrogant liar. Anyone who believes anything said in an RNS, seemingly rubber stamped by authorised FCA companies, well I've got a bridge to sell you.

Just mentioning in lift, to a drunk intern, a product you are thinking about that could fit into one of their products (which they havent built) with loads of tweaking counts as a multi $m opportunity that warrants an RNS in ENETs book.

AISC ? Your tech knowledge is infinite.

Blackhorse, one of those people who sees a share price in free fall for years and thinks it was 1p a while ago so should be again soon.

Blackhorse,

A troll isnt someone who hasnt got anything good to say on ENET, as that rules us all out.

What did Miss say when you reported it ?

BlackHorse.

A lot of burnt fingers here over the years. I have seen new posters come in every 6 months believing that RNSs have a grain of truth in them - I think you are last man standing after tricky/micky/hull in the last six months. You dont have to be a holder to have an opinion here.

Now the ASIC business plan, another strategic u-turn after PON, private 5g, servers etc etc etc with multiple failed contracts. No customer would touch ENET with a bargepole at the moment so it is not imminent and doubt if the opportunity actually exists - I suspect DL hasnt even spoken to a customer in any detail about his costed proposal from Ilans proactive interview from a year ago.

LOL, the accounting on this is completely wrong. You cannot recognise revenue where you clearly have a "side agreement" on a sale or return, and then try to wrap it up as a temporary bad debt provision which you then unwind.

Directors, advisors etc responsible for the RNS on the 21st Jan, where an unequivocal undertaking stating on the final payment would be made, should not be allowed to be a director of any company, or work in an and FCA authorised company.

The RNS on the 21st was a pure, 100% fabrication - and this was known by all parties putting their name to it at that time.

The main characteristic of DL is deluded.

We have seen and time again statements of interest, successful trials, no brainer instant ROI products - the best one was opening a "book" so customers could be aware of where they were in the queue from the rush of orders.

ENET have had sufficient time from IPO, and wasted 10s of $m, to develop a credible and self sufficient business model. Its just their tech is poor, simply irrelevant and doesnt have much of a market.

ENET doesn't have a government contract.

A government agency has to approve it being a supplier to the aero industry.

No surprise the RNS on 21st Jan was just complete and utter lies, and knowingly so.

Lets call out James Reeve, Piers Shimwell, Amrit Nahal and Stefano Aquilino at Allenby, Douglas Crippen (appropriate name) at CMC and Lucy Williams, Duncan Vasey and Eran Zucker at Peterhouse with their complete lack of integrity in signing off this rubbish.

So the first contract for 2025, three months in and the value of the contract covering about a quarter of the cost in that period.

Still no real sustainable business here, if they ever has been one.

The question to answer here is what is the income level for breakeven based on aa assumed fixed cost basis and a % gross margin.

If you cant see it its then dilutive cash raise after dilutive cash raise.

Sham.

Laura and ben appeared on the ENET board, talk about not having a clue there and nothing's changed.

back of a *** packet very tight, but manageable with a number of assumptions, for final payment - assuming "cash opex" run rate is lower than h1.

doubt they can pay a pay run after that though.

where are the asic, oem etc deals ? i don't actually believe these were or ever have been at any significant sales stage to warrant calling it an opportunity. unfortunately just more lies from dl with brokers / advisors with zero professional integrity prepared to go along for their retainer.

Laughable, did you buy one of his meme coins ?

I think this time last years presentation, and where they are now, reminded me of the Mike Tyson quote "everyones got a plan until they get punched in the face". Very naive on pipeline (conversion, weightings), go to market, channels, sales productivity and efficiency, lack of focus - I think a more realism now.

Unfortunately on the phone so couldnt ask questions. Clear ARR hasnt increased from year end to year end with 24 revenue growth coming from q4 23 orders, the lack of a retention stat for last year was a little weird.

Its all about focus and execution, could see some signs here eg massively reduce number of channels and focus on a few, the OEM type arrangement looked interesting as it provides ongoing opportunities.

Still have concerns over cash.

Steve, if they float a minority stake this provides a valuation of this standalone business and ICAPs share in it, this vs the LSE market cap. Not sure whether they have stated a % in the past ?

Agree, with the idiot in charge over there might be worthwhile waiting for things to quieten down, but with the idiot he doesnt know when to stop.

Well, MHO wrong again.

They cannot provide any "real" financial detail today, after the disaster of 2024 it needs to be about execution not woolly strategy.