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I do wonder where the 200000 buy shares are coming from. Where do they balance at this price. Dropping the price here as always attracts buyers.

Prennie I didn't expect the grant to be enough alone. The funding pot is quite small and Israel has many tech start ups. In reality it was a bit speculative because they have been in business for years and why would Israel support Ethernity with a foreign listing and shareholders. In addition they did state that the impact of covid 19 was minimal. However it was probably worth a try as it would be free money. I hope that they raise around £4m. That will be plenty to take them to profit.

I have attached suspect that the funding proposal will be disclosed very soon after. It is important to understand why numbers look slim now. The project work is really a side line the mass market is the main business. In fact the bespoke project work is what they were doing before the change of direction and the IPO. Up to now it has produced income. Tier one and tier two vendors are really where the focus is. These will have a market presence, engaged clients and manufacturing capacity. These future markets are looming.

Bid all of those that you say haven't delivered were all released as future markets. The very same markets that will mature in 2021 to contribute to the cash profit in 2021. The costs are very much fixed so when profit is achieved it will grow very quickly. At the moment the costs are offset by few sales. Once deployments commence in volume these third party deals will produce sales.
The reality is that these military and aviation contracts are the only type that pay immediately but they incur work. The new market solutions are just rinse and repeat. The numbers will be huge through third parties sales with nearly no input from Ethernity. The market at the moment is not the only target, mass deployment is the end game. After all changes upgrades and flow profiles will be a paid service.
Ethernity are approaching this as David well knows.

Looking at todays trades I wonder how the MMs will balance their books. I suspect that they expected large scale selling to balance their books to profit from the recent buys. The share price is well below anything that makes sense.
I like the fact that Ethernity are targeting their development towards the current demand. I also like the disclosure of negotiations with a tier one military vendor as these often hold upfront payments. Also the recent cash payment is staged over the year, I assume with milestones so the balance doesn't include these payments which are in addition to the recurrent royalty payments Ethernity have.

Israel has a very strong support network for good businesses. You see it in action in North London where businesses grow without recourse to traditional funding. The link I posted earlier is an example of that where the government underwrites investments in the tech sector.
Now if David wants to crash the company and somehow take it private the on market purchase at 40p makes little sense. What we see is just the requirements forfilled like the posting of the refusal the EGM. What we don't see is what is happening. The new broker with reach to China. The many substantial companies reliant on Ethernity delivering product and services.
Has this been handled badly, right now it looks that way but had they raised funds subsequently not required 12 months ago what would we be saying now.
I see several routes. A boutique Israeli tech investor, Directors bridging or increasing their holding or a Chinese investor probably linked to one fiberhome or another partner.

So today so far the MMs have fallen over themselves to give away cheap shares they don't have.

Bid I don't think that they need a white Knight. I don't think that you you understand how investments and investors behave in Israel. Clearly Ethernity will not talk about any funding options prior to the EGM. We don't know what options they have. I doubt very much that they will have any trouble organising funds. If it is too low and David isn't involved I suspect that the network will produce the solution.
Israel is nothing like the AIM.

When funds are disclosed it will derisk and return to 40+ in my opinion. Even if the placing or other funding type like bridging loan or directors loan against options is expensive 40p was way too low to make sense

Bid reduced and supplemented with new income. It appears that these upfront payments are scheduled or at least the last one was. I doubt that they are beginning their search with a blank piece of paper. Israel is full of boutique high tech investors. The AIM may be the sticking point and I don't rule out some corporate actions

There is nothing to say how they raise finance. We know that they are seeking permission to issue new shares. Beyond that they have lots of options. The high tech sector is very integrated in Israel and very well supported. The link I posted earlier shows the government are keen to support the sector. The amount required is not huge. I see the financing risk as low, yes there may be some dilution and I was here at 130p I would be very unhappy. However now I can reduce the cost of my shares to mid 20's I am not too concerned.

Not much volume 31000 sold 31000 bought down 41%. Hmmm.
Thanks for the bargain

18% spread.

The recent on market buy by David at 40p was either a dieing effort to stabilise a crashing share price or a indication that he is prepared to invest further. They could afford to take a pay cut so I suspect that they can afford to support their lifes work if they genuinely believe that Ethernity have the great future they appear to have. Interesting times for sure.
For the record I am not surprised that the grant was denied as they only loosely fit the criteria. I am surprised that they announced it now. More to follow I suspect. The EGM is of course a rubber stamp.

Agreed or they know something we don't. A vital missing part like a investor. The Israeli government institutional guarantee looks super. However I suspect that we'll see the two directors and major shareholders provide funding. They are here effectively at 130p so it's a prime opportunity for them.

Yes my view as well.
Also I agree that they have got themselves in a pickle.

First trade a sell or mugging at 19p.

It will be interesting to see what the response is to the 23p share price. Yes of course I view it as a buying opportunity but is it the bottom. I guess that the MMs again think they will take cheap shares. They are generally wrong.

It was a potential outcome, several others remain. I suspect that this scheme will firm part of the solution
https://innovationisrael.org.il/en/news/israeli-government-approves-program-promote-institutional-investment-advanced-stage-israeli
The cash payments are staggered so not included in the figures which is great news. Also Military / Aerospace tier-1 vendor contract on which negotiations are continuing. These seem to attract cash payments and ongoing royalty. I see absolutely no chance that David will give away a chunk of his work for nothing. I assume following this RNS he is free to buy again on the market.

I have attached will be a millionaire with just over 200k. I also control 223k for third parties here.
Certainly my £10 target hasn't changed.