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Great differentiated tech, with a high ROI for the purchaser, basically sells itself even when your go to market / sales / marketing is as poor as ENET.

A customer need to reiterate the sentiments of the award with hard $$$ for this product. They have had two years of trials / evaluations / interest specifically targeting the low hanging fruit with nothing to show for it.

mickey.

happy that you are proved correct, but some back of a *** packet numbers with the three key factors influencing sp.

1. when, how much is the tarana order - what monthly run rate of revenue / margin

2. uep2025 - when, revenue for current year as they are running out of months to recognise over in the current year

3. cash - unless 1. happens virtually now i think, yet again, their cash forecast is rubbish and they are down to the wire. having sold themselves, yet again, to bergen who control the share price for the forseeable future they are now, yet again, backed into a corner.

appalling, amateurish bod and management.

Just looking at the past annual reports and the complete works of fiction in the CEOs statement on the 2023 outlook in the 2022 accounts. Look back through 2021 / 2020 to realise DL and the ENET BOD simply havent a clue about their market, go to market, execution and very, very, very basic commercial / contractual and financial management.

The very best works of fiction are on page 8/9 - page 9 where he runs through the 2023 opportunity for the Indian OEM contract and then the Chinese contracts. ENET will have more chance of being a take over by Bloomsbury than anything in the tech space.

Small top up yesterday taking me to a nice round number.

Share price chart, considering the controlled progress made and the foundations set, over the last two years doesn't make a lot of sense to me.

The note on potential large deals in H2 should hopefully take this to a much higher level.

Now two months plus from the immediate requirement for cash 100% for working capital, but with no contracts requiring working capital. Perhaps its the ones from Cisco and Juniper ?

Its almost like ENET are just were just making stuff up in their RNSs, but at the CFO and CEO are consistent.

Without detailed numbers key thoughts. Good but not blow out numbers on orders / revenue (must have been a nice non Saas order in there, really impressive cash conversion (and at least theyre getting a decent % rate on this now).

As previously stated good cost controls on relatively fixed costs (especially those in £ vs revenue in $) means the inflection point has been passed in H1, I think the old CEOs (double payment for both for part of last year) has gone.

Coming up to the end of the seventh month of the year.

Apart from the revenue held from 23 from one of the royalty deals, every month revenue is probably in low five figures (probably 4 for a few of them).

Just amazed this is only down 10% for causing so much chaos.

Added a few more last week, surprisingly with my history seems well timed.

I do think mycelx need a multi pronged approach, this one seems one prong with DoD - low hanging fruit as the budget is assigned.

On PFAS not sure on the worry on a Trump win, he does seem to let corporations pollute with impunity.

You need to look at discount to NAV, and then discount to NAV if you exclude cash from both.

The first doesnt to appear to have changed, although this does as Ed says back up the valuation approach and show the correct valuation.

The second will show a widening of the the discount if cash is excluded. A similar thing with ARIX where the discount got so wide the market cap was virtually the cash with the investments chucked in for nothing.

Started a small position in the low 40s recently - I have RTW, AUGM, GROW already. At some point the IPO market will open again.

Basus "my wife doesn't understand me" rubbish again.

As Jim Royle would say nasdaq my a###, he has been a terrible CEO who hasn't delivered with constant excavated excuse year after year.

I worked for Us listed companies,excuses aren't tolerated.

Mickey - can you then provide an estimate (within $250k) of their June month end cash balance with basic workings, if you exclude the fundraise going directly to an fpga supplier as they wont contract on an open credit basis with ENET.

Sharebel, you need to do summary cash inflows and outflows from the year end balance sheet (in $ not £) - I'm pretty rich at the moment if I forget about my mortgage payment, bills, holidays etc.

The recent raise does not seem to be for working capital but to pay DLs bar bill as conferences.

Sharebel.

I could correct every line here as incorrect but let's try the maths on two.

The two contracts is tsp were not multi million pound (dollar?) Contracts.

The last contract was not 1.5m.

Sharebel.

I very much doubt it will get anywhere near.

Firstly a Tarana announcement can be positive or negative depending (as I have said but you dont understand) what this tells us about the monthly run rate and the margin this provides to cover costs and stop more desperate, desperate dilution. I think a deal must show at least a $200k revenue (not margin) per month run rate.

Secondly Bergen looking to make a quick turn along with 99% of other holders here, most will sell in relief just above where they bought in the 1s and 2s, other looking for 10% / 20% etc. So selling through the range.

Sharebel, so 6p (10x where we are) on a contract the company has stated will come in H2?

Its probably best just to stick with lower values to have some level of credibility.

Key to any Tarana contract is the monthly run rate it provides - a further $1.5m contract covering a year would be a disaster.

So we are now 2 months from the cash raise and no sign of a contract requiring working capital.

Despite the statement that the cash will be 100% used for working capital, ask yourself why they didnt wait a couple of weeks for the recent contract to minimise dilution ?

Like the "forced" RNS clarifying the already terrible cash raise, clear there are very deliberate mis statements in the reason for the raise.

DL has zero, absolute zero personal integrity with a chair who sits there getting his fees without reading board papers (if these actually exist).

The 1.5p options look like a smokescreen for them to continue taking monthly salaries.

There shouldn’t need to be scrutiny by a private shareholder getting the nomad to state the facts.

After a private shareholder had to take control of the AGM due to the chair having the knowledge, clarity and understanding of Biden on cough syrup you would have thought they would learn….

Amazing. What a complete, total and utter amateurish joke this company continues to be. Anyone thinking individuals change (from the TSP process) at that stage in life and suddenly have a conversion to being good commercial, rounded business people sadly wrong.

The Chair, the CEO and CFO should be no where near a listed company.

So you take discussions in h2 2024 and 2025 (therefore read we haven't a clue and we'll leave it open) as contracts signed in august.

That not the timing of sales cycles here.