Member Info for skid35

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.

Cheers Hull.

You must remember they have tried to sell UEP2025 to the "low hanging fruit" opportunities for for 12-18 months, with RNSs expecting customers to pre order for the rush for volume manufacturing over a year ago. I think it was this product DL described as a "no brainer" for customers.

Any new leads will take 12-24 months to incubate in orders, 18 -36 months for volume - the hope is the leads from 12-24 months ago are now getting somewhere with a more professional pipeline / management sales approach from Ilan and face to face meetings behind the scenes.

Everyone here massively overestimates the role of a non exec here.

Hull, an "already versatile" platform which has sold absolutely nothing since launch, trials etc. Just look back through RNSs and announcements - the UEP2025 was built on other platform technology which again sold nothing, which where built on other platforms which sold nothing - all the while munching r&d cash.

As said before ENET due to its failure on other contracts / lack of financial stability / flakiness of its CEO and board needs to be 10-20% ahead of the competition to adjust for risk.

Lets hope a chink of light from network X, the problem then comes in delivery / execution from a company where every post IPO contract has been canned by customers.

Rooney.

Interesting following Nicholas Slater on X on myx, his the big buy today adding to an existing holding.

Was hoping to add but no funds, hopefully stays mid 50s for a top up next week.

Remember

- The delegates pick and choose what they want to listen to. Having been to these on average 50% of delegates at the time when these are on are networking with coffee.

- Really hope DL has done a bit of preparation here. Outside of english no being his first language he is without doubt the worst tech presenter I have ever listened to.

Hull.

My email to cfo, ceo, chair 17th Jan 2023, c 16 months before the chinese deal cancellation and disaster of h2 last year.

"A lot of hot air in the last year ("exponential", "at the finish line", "great positive things", "Indian contract in place" etc), now clearly backed by little evidence. Another deeply, deeply disappointing trading update continuing the history of deeply, deeply disappointing trading updates. Yet again the board of directors and senior leadership team have completely failed to hit even vastly reduced six month commitment reforecast three short months ago by 20%. However you look at it, lets not beat about the bush, another appalling six months business performance.

As a private shareholder the leadership teams basic grasp of and delivery against strategic, commercial and operational issues appears poor at best if not non existent - from the commitments made you are either not understanding, assessing and mitigating business risk or more worrying just plain complacent believing your own hype.

If I just take one point from my initial note below "there appears to be a failing in understanding these influences to develop conservatively weighted forecast and then mitigate inherent risk with a clear action plan in both P&L and balance sheet". From repeated failure to achieve revenue forecasts it is clear there are systematic failures of really basic pipeline / contract forecast management.

Every other question remains in place. No surprise the result is, as forecast, a deeply discounted placing and dilution, with Bergen still to dilute even further with an even lower price from the c 10p when the original communication was written.

I now have absolutely no faith in the professionalism and ability in the board at this point in time to execute, and after repeated failure why should I? More worrying for me I now also have zero faith in the integrity of any communication you make and consider past assurances deeply and deliberately erroneous. Having your tummy tickled on proactive with pre planned questions and answers seemingly happy with the company's performance is problematic for me, as a board need to seriously look at your own performance rather than slapping each others backs. Whatever your excuses the market price, unfortunately for long term holders, reflects the reality of just how badly you have managed the company"

Nothing has changed.

Escape,

Out with a long term mate the other night who Sh***ed around all the time in his 20's, cheated on every girlfriend, partner, wife.

Guess what, in his 50's cant keep his trousers on.

History is the best judge of future behaviour.

Chico,

Unfortunately I do have a legacy holding here.

There were a group of private shareholders all of whom were very deliberately misled and lied to face to face by the ex CFO and current CEO. If you are investing in a company such as ENET you are investing in the management team, who have zero credibility.

If the post IPO products were competitive with a high ROI you would literally be batting customers away. As DPLewis (who has a lot of insight here from his contacts) says on ADvfn, DL received a business card and thinks that counts as pipeline and is forecasting $m for six months time.

I think the Chairman is in this category, just a complete waste of space.

DL has always backed the company with hard cash based on his "somewhere on the spectrum" view of the world. But, from my direct communication with him, he has the two most dangerous personality traits in a CEO of being both very arrogant and very deluded.

Wrote this morning before open that nothing has really changed with ENET.

All those that said the book keeper now running finance was the next nvidia CFO when she clearly cant do basic cashflow based off DLs blinkered view of his pipeline.

Complete, total bunch of incompetent amateurs.

Unfortunately the history of ENET since IPO shows a massive chasm between what they believe will happen and what actually transpires.

From an email to the board in 01/23 after repeated broken forecasts "it is clear their are systematic failures of really basic pipeline / contract management".

Just popped up in the podcast feed, haven’t listened but Kerry on Sunday roast. Will listen tonight - expect professional as usual and a few tit bits of what they are working towards especially localisation in the us.

Hull,

Unfortunately it is not in the hands of DL. It is in the hands of customers.

With a sales cycle of 12 -36 months (and with a tiny portfolio of customers) really difficult to judge timing of orders, as Jimbob with his Friday / Monday prediction (based on nothing) proves.

Do hope their first sponsorship / attendance at network X (away from Wispa) is part of a wider plan with an immediate return.

Share.

Outside UK using a channel go to market always take time vs cash out the door of a direct salesforce.

Key is getting good channel partners who can sell into their existing base - having them in the catalogue but not being actively marketed is an issue, better to have a few good partner than multiple partner who do very little.

On valuation interesting to see ADVT buy a company last week (with a product called instream) with £3.3m turnover (80% recurring) for £5m including £1.5m cash.

DD, as you say pretty meaningless without understanding % splits of renewal / new.

Clearly good they are renewing keeping a strong ARR, interesting that cash receipt this year which should hopefully ensure no new cash raise.

Clearly a key focus with ACRM (with 50%+ of total WW IT spend), hopefully they gradually develop over 2-3 years with a few really good channel partners.

Dab.

With this type of CEO you need a really good chairman and cfo, the two old ones were just useless - in particular the old cfo who has presided over a fall from 80p to 10p where he went aferwards, got the boot with a tonne of options. He should never be allowed near a public company and should be stripped of his letters.

Do sense the new chair and cfo have instilled some business and financial discipline on the CEO and stopped his flights of fancy - next accounts key to seeing this discipline but unfortunately a lot of damage has been done.

Whose buying.

Why dont they just do larger trades ??

Yep, a mature, insightful response as expected.

Thought it was time as half stacking beans on bank holidays ?

Really don't get the sponsorship of this event in amongst the absolute behemoths whose $ms spent of these events is just a few percent of their marketing budgets. They have the luxury to be able to do the thought leadership / general brand presence stuff without being near the breadline.

So why do it ?

Yes you get a speaking slot but this will be one of many and delegates pick and choose. Also, at this level, D L is the worst technical and sales communicator I have seen.

Product announcement / contract ? Firstly you only do this if you have a market ready product not one that required further nre. Tarana, no as they do this. something leftfield perhaps under very strict NDA?

The days of me thinking DL had a cunning master plan mapped out are long gone. But hope the pricing of the options was based on something close to signing outside tarana / uep2025.