Ethernity Networks Share Discussion Threads

[504] 18/5/2023 13:48

What $640k are you bleating about

[casholaa] 18/5/2023 13:45

@504 Bot, yeah, that's why the company has been diluted to shreds, because a London listed company didn't get a lender to help them for such a small amount of dosh. Let's hope they were not turned down by any fintech lenders but, let's hope that it occurred to them to approach lenders but, let's hope the lenders did not look at the financials and the prospects. It's all over the place. That $640k you referred to is like kicking sand into peoples faces.

[dplewis1] 18/5/2023 13:37

Qantas the year prior to that they were "feeling confident enough to place a build order for spring 23 delivery, £3.30 a share would be very comfortable for me". I assume they've defaulted on that one then.. good job it's an imaginary boat..!

[504] 18/5/2023 13:21

Casholaa taken out a loan, get real.
The business from 2018 until now has nothing to do with the contracts providing revenue ahead. The model has completely changed to business with returns around 10x greater for solutions rather than components as before. It was all project work before with limited application just for specific clients. Now they have mass market products so development costs are spread over many thousands of units.
It's absolutely clear that you have not researched this company

[casholaa] 18/5/2023 13:14

750k is effectively grocery shopping. They've diluted the company for a pittance. They should have taken out a loan but, lenders don't dish out money without any care. They need to show us that they can walk-the-walk. If you look at net income v sales from 2018 onward, you'll see that the more money they have coming in, the greater disproportionately their annual losses.

[504] 18/5/2023 12:53

When they ran out of funds they were expecting $680k from the Israeli government in covid support. However it specifically excluded foreign listed companies in the last draft.
In the current climate I suspect that the audit process is very robust, requiring increased cash reserves and won't include any speculative income or anything beyond the immediate contract payments.

I suspect that they took the 25m share hit rather than the hit on reporting.

I think $8-10m is where we need to be, Beyond $10m without prior explanation shows a poor grip on the business.
H2 is all about positioning for 24. They should be targeting the warrants now with a steady flow of progressive news.

[mark0419] 18/5/2023 12:46

They are going full on over on the thread for the pump as they sneakily sell.........scam being worked on the lemmings. They'll have 3 cups and a ball under one of them tricks going on soon.........

[astralvision] 18/5/2023 12:19

Talking of me dear mate MR, surely the AR must be due an appearance soon.Ok, we know the boring stuff, another year of missed forecasts, cash burn etc.But the forward looking statement is always a good story to read ,even if come Xmas is looks a tad on the optimistic side.Still, hope springs eternal. Let's have a budget buster this year, in a positive way.Onwards and upwards!

[1liam] 18/5/2023 12:17

Next placing won't be to far from this one, they're running out of money fast!

[astralvision] 18/5/2023 12:11

Re MR and fumes, he ran down £15m raised on listing to $540k a few years later.They don't go down as financial prudence in my book. Guy is a total liability 'As of 16 June 2020 the Company had retained cash reserves of c. $540,000'The above is when MR pressed the panic button.

[purchaseatthetop] 18/5/2023 11:55

Mindthegapup. Disagree with the idea they could have got by without more cash. The auditors would be requiring the going concern statement to be justified and so they had to show a clear cash runway. No way the accounts to 31/12/22 could have that qualification. Moreover the CFO Reichenberg would never let cash drain to fumes.

Right now contract negotiations will involve detailed milestone payments so they are cash positive at all times and selection of customers. No more bad debts.

[mindthegapup] 18/5/2023 11:38

"The Company has received an increasing amount of interest in its new products offerings. Therefore, the Directors remain confident of the revenue visibility for 2023 and, based on contracted orders and estimates of the potential orders that are under discussion with prospective customers, the Directors remain of the view that revenues of $9 million for 2023 are achievable, subject to the availability of components and customer production timelines. In line with previous financial years, revenues are expected to remain significantly weighted towards the second half of the year."

This most certainly doesn't sound like a company in trouble, far from it.
They could have likely got by without latest placing, although progress may have been slower, now we can expect an acceleration of product shipments and contracts :))

[purchaseatthetop] 18/5/2023 11:06

I have done a check on the patient Ethernity and there are signs of life. Not life extinct.

[tburns] 18/5/2023 11:05

Are you tempted to keep adding Ace?

[astralvision] 18/5/2023 10:59

Yes, there was no rns after the Jan placing was announced as day of admission and number of shares already given.It's the same here, done & dusted, well that actually happened when it was announced

[purchaseatthetop] 18/5/2023 10:52

Spot on mindthegapup. Only failures to achieve previous RNSs are notified. All done before the event. Now we move on. I simply cannot believe I could buy at sub 3p. In six months time those buys will be hugely bagging and even my old buys will be blue. Just my view.

[mindthegapup] 18/5/2023 10:48

From LSE - I think this is correct:

RE: Short term targetToday 10:42

"The Placing will definitely have happened imo. Especially at that low price, the admission date was today, but you wouldn't get an RNS to confirm that, they've already explained the date of admission in placing RNS. Only time you'd get one is if it didn't happen for whatever reason, so on that front no news is good news :) "

[purchaseatthetop] 18/5/2023 10:46

No idea what pokerchips is wobbling about. Reminds me of the wobbling that DLs buys were not RNSd on the last placing. It did not need RNSing as already told. Silly frightened people.

[504] 18/5/2023 10:42

This from pokerchips on the LSE board. Does anyone know what it's talking about. The placing is exactly the same terms and conditions as the January placing. We know that there are
now 130,161,305 shares as disclosed in the last RNS.
The warnings about attempting to place, warranties are standard when it's not underwritten.


"No placing news yet, which after nearly a week is ..highly unusual.......shows how it was just thrown at the broker to find buyers....the BOD must have been pulled through the hot coals to explain , and then attempt to get the placing in the bag ...."

[purchaseatthetop] 18/5/2023 10:36

It’s inevitable that amaretto gets filtered. Like having an ADHD kid in the car for a long journey.

[amaretto1] 18/5/2023 10:34

Well stick with it ....This is a big boys game... u clearly were always going to be a employee !