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RNS today not up here as yet.

Real steady progress here, and Akamei yet to provide the kicker as it ramps.

Look to be holding the 14.5-15.0 range now.

Sion

Prophetus.

1. They need cash, every month that passes is massive cash burn.

2. They have been trying to sell uep2025 for over 2 years now when they were opening the waiting list for the no brainer, game changer product.

3. This should be the fourth key contract after tarana, the 10k units a year Indian deal and the $10m pa Chinese run rate.

Well at least they have the $$$ from working with cisco and juniper.

There are a lot of incredible Israeli Tech companies on Nasdaq, a lot in niches in cyber and networking coming out of a home focus on security - in addition to US companies such as Intel pumping money in.

From and external perspective it cant be great having you best and brightest engineers coopted into the IDF though. As I've said before I cant understand how the currency has held, would be good for ENET to have a weak currency vs USD which is what everything is priced in.

Newbie,

Israeli companies always operate on AIM at a discount to the overall AIM market (i think deserved), this is different to Nasdaq where they are well regarded (possibly AIM get the the dregs due to lax listing rules). Having worked with a few Israelis I have found them very difficult to work with - always right, aggressive, ignoring controls and approvals.

I dont think there is anything with recent news which impacts this.

On top of this issue we do have the additional ENET specific issues of a CEO and board that promise the world and deliver FA.

ENET was in a bubble with traders, others following believing the hype based on the H2 orders (which were probably deeply discounted from ENET undermining future 2024 revenue streams) were a new start.

There are always leaks, wonder if the UEP2025 business has gone south ?

Hold grow and augm (which will top up).

Anyone here got any views on ipo, deep discount and similar size to grow?

Chico,

More than happy to compare my life / career / holidays / house / contribution to society side by side but that's not what its about.

You are probably one of may with an average over 1p based on the hype where there really was absolutely zero visibility. Clearly a number who thought this would be a quick turnaround / easy win which was never going to be the case.

I hope Tarana does lift this shortly with a decent RNS indicating monthly ongoing margin to support the cost base, they have had the bergen money a few weeks now and hope this has not gone on the payroll.

Chico,

As usual, please share your thoughts with reasoned arguments on where ENET will be at the end of the year.

If you have followed DL and ENET it was always play going to play out like this.

Sincerely hope we have a mega tarana order to keep the lights on and that they were honest that 100% of the money raised recently was for working capital.

Fred.

No news is good news if you are busy executing against contracts, rather than them being cancelled.

Great tech doesn't go quarter after quarter, year after year with "trials" / "interest" etc and sell nothing. Unfortunately ENET now has to be 1.2-1.5 X the competition as a risk play.

Please provide details of why you have faith in DL, he has been utterly 100% useless.

How on earth do know it is great tech, the market doesnt seem to think so.

Missing Micky and Tricky - have they sold out ?

Only.

I think a few others in your position still holding on for news. As I said late '23 i) the orders in TSP were customers protecting themselves ii) future contracts from ENET are not like buying an add on bit of software or hardware, they are integral to the products you put your name and reputation on - the sales cycle measured in years and is not a quick turnaround by a couple of new hires.

The UEP development work, if contracted, basically is an offset to (hopefully) relatively fixed costs - each month that goes by is problematic as net cash out the door. Although they can take revenue on a monthly basis irrespective of invoicing, key is cash milestones - and based on past experience whether they actually deliver something rather than being canned.

Tarana order value, quantity, time utilisation is still unknown (even whether they have ongoing support revenue) - together with any charges to move all units to the same release. Hopefully based on Tarana PR we have an order providing us with a visible (and growing) monthly gross margin run rate. (No supplier in their right minds would provide ENET with credit, hopefully this is what the cash for working capital is needed for).

Must say still surprised of the relative strength of the ILS.

As usual business RNSs (rather than new shares issued, new options, cancelled contracts) required - I only hope the 1.5p exercise price was based on external advice rather than DLs view of the market and his / ENETs ability.

Going in the right direction, discipline from the chair and new cfo seem to be feeding through at last.

One word of caution is on the use of ebitda which, in a company where the capitalisation / amortization of r&d is skewed, is still problematic from a cash perspective.

Would be good to sell all that Chinese stock which has been written off !

Only,

What we can count on is a further tarana order. I think the last order was at a large discount to contract with DL looking to stave off bankruptcy.

Key will be not when revenue is recognised, but the time period over which it used by tarana - also whether there is a software update on the existing estate.

I wouldn't trust anything else with a high degree of probability, after contract ENET then have to deliver which they have failed to do on all post IPO products.

Chico, so nothing then.

Chico.

As usual, what are the set of circumstances you expect and over what time frame for your 400% gains. And don't say this got to 3p plus a while ago.

The fundraise was specifically and 100% for "working capital purposes", and they now have the cash.

So, where is the contract that requires working capital ?

The week ahead is the six month anniversary of the last rns of a significant order, which in itself was a customer protecting itself from ENET rather than an endorsement of the company.

No backlog to speak of and no orders. I worked for IT companies with more revenue from a small English town than this shower.

Great tech, aaligned with good go to market sells itself.

Castle - we've had the gold.

We are now into the second / third year supplying 10k units @ c $1k a pop to the Indian OEM where ENET did the design FOC, we are into the second year after being "at the finish line" of the chinese deals which gave ENET a rolling $7-10m of high margin yearly business where they seem to have taken the design ideas and legged it, massive volumes of "no brainer" products which have cost $40m in R&D, amazing revenue from "working with Cisco and Juniper"........

Yes, if contracts come there will be a bounce and sell out of traders through the range. As we know from ENET, delivery against a contract with a history of every single post IPO customer walking away is problematic.

Mickey -

No, even if you were a great analyst you have not thoroughly researched the company as there is so little to go on.

Unless you are a high level network / data engineer with a knowledge of the entire market / competitors you cannot state "we" (and no you are not ENET) have some amazing technology.

Hull - you would hope / expect to.

Since IPO ENET have never hit (or actually got anywhere near) a short term forecast, a warrant exercise price or share option exercise price. So it would be a first.

Castle,

Old enough to remember (about a year ago) the ex CFO on a proactive interview said the warrant price of I think 6/7p at that time would be "easily met", hinting major contracts to come when what did come were no new (incremental) contracts and cancellation of their two largest contracts leaving massive losses.

Even with the hope that they priced the BOD options at 1.5p, never ever back ENET / DL to understand their market to create a weighted forecast and completely **** up.

Have a few already but just wanted a top up !

MYX really moves quickly, up and down, on very small volumes.

Director buys does indicate a good degree of confidence.