Ethernity Networks Share Discussion Threads

[dplewis1] 02/6/2023 14:13

Really fantastic news they had to blow up the share price to shore up the balance sheet so the auditors won't give them the kiss of death going concern statement. KTLO for another few months until they run out of printer ink and MR calls Peterhouse again

[504] 02/6/2023 14:09

I assume that the 12 months is from the 31/12 and not the date of the audit but obviously using the circumstances as presented in the audit.I suspect that the auditor suggested exactly what they needed to see in the way of reserves.

[purchaseatthetop] 02/6/2023 13:14

Yes, good he has bought and also the reason for it. From his post.
The new Institutional Standard on Auditing 570 now requires much more certainty on signing off “going concern” note 2. They must in detail check and verify that there are 12 months working capital from date of accounts snd not simply wave Directors assumptions through.

It seems more and more likely that the 3p placing was to satisfy the auditors and Nomad. That is really good news. If it is true.

[quantas01] 02/6/2023 12:38

Funny PRATT talking about Dallo going through the final stages of grief like he is some sort of evangelical priest. Perhaps PRATT should consider he is going through the stages of being a kidnapped ENET hostage....."denial". When he gets to the "acceptance" phase he might be worth listening to....whatever

[dplewis1] 02/6/2023 12:33

So you were totally wrong then.. again. Clown

[504] 02/6/2023 12:25

Good to see Dallo has still been buying on this stupid situation

[504] 02/6/2023 12:06

Dallo yes I have multiple accounts to make up my holding. It's very difficult to buy at all as a non UK and ROI resident. I have less than 300k in my name linked to my UK identification. I have the rest linked to my Greek residency and my US citizenship

[504] 02/6/2023 12:01

I suspect that in uncertain times for raising funds the threshold is more demanding.
The contract revenue will also be risk weighted leading to high cash reserve requirements than likely physical need.
I wonder if the 33.5k was to get over the threshold after the share price dropped below placing price as it always seems to making the broker option with no warrants undeliverable.

[papillon] 02/6/2023 11:53

free stock charts from uk.advfn.com


ENET log chart.

"Never spread bet a falling knife"

How very true, seagreen. ENET is most definitely a "falling knife" and has been for around 18 months.

[seagreen] 02/6/2023 11:47

2p bid coming followed by its relentless decline to a 1p

Best to close that spread bet pdq

[seagreen] 02/6/2023 11:45

Splitting hairs me old china

We are all splitting our sides about your spredex large buy ...

Never spread bet a falling knife

(Mum RIP as you know.)

[joinednow] 02/6/2023 11:35

Yes , learn to be careful and challenge what is written on bbs.

Hence managed to get an average of 12p not 40p

[purchaseatthetop] 02/6/2023 11:35

Had a look at LSE. I do agree with Dallo on one thing though that I posted a couple of days ago. The going concern statement is critical (note 2 to accounts) and MR would insist it was covered for 12 months to 31/12/23 especially as raising money now is so uncertain. I think that the recent £711k net plus £33k insiders placing was mostly due to that. If that is right, and I pray it is, then cash runway to end of 2023 would be fantastic for the company.

[504] 02/6/2023 11:31

Actually 17.8p horrible but not as ugly as I thought.
I haven't had a mobile signal for 2 days so unable to transfer funds until next week to buy more.

[purchaseatthetop] 02/6/2023 11:22

We learn through pain.

[joinednow] 02/6/2023 11:19

Losing money HURTS, doesnt matter how rich you are

[purchaseatthetop] 02/6/2023 11:07

Yes but with the avatar TracyLied how can you complain?

[purchaseatthetop] 02/6/2023 11:00

Seagreen. So, not reversing revenue then. If they reverse the revenue they need to issue a credit note to the customer and that would rather damage any legal claim don’t you think? The specific bad debt provision might be removed in the future if they settle or win a legal claim. Glad to help. Now help mummy with the dishes please.

[504] 02/6/2023 10:21

I have 2.5m at an average under 19p yes it hurts. Dallo has a similar amount but his average must be in the 40's. Horrible

[derekobuwanda] 02/6/2023 10:18

Loving the desperation of trying to find stuff to post . Yeah let’s talk about the lse board. Says it all

[seagreen] 02/6/2023 10:17

Depends if they use the direct write off approach to the revenue account or the provision approach to the expense line.Same P/L effect ...Talk about splitting hairs....Of course not reducing the revenue line has the extra benefit of pumping up the gross profit margin along with hiding a lot of cost of goods sold in expenses R&D.These Israeli tech companies are very clever at pulling the wool over mug British punters who think they are professors of accounting.Just a friendly tip from a qualified ACA to my favourite ADVFN book keeperStick to looking at the bottom line An accounting loss is a loss and you will not go far wrong And boy this company has got 50m of bought forward losses and mounting.

[amaretto1] 02/6/2023 10:06

I've heard he's loseing a fortune...We have all been their ... We all have positions we got wrong or got in too early .. that's the game we are all in ...I'll be honest here ... AGL is hurting me .. but nothing has changed with the company.. it's getting stronger month by month ... but the share price is not showing any reflection of this, but I'll wait it out .... You only lose anything if you panic and cash in against your original conviction to buy ...If nothing changes but the share price ... this is a trap that novices fall in to when selling out. My ENET long position has basically followed the money men who sunk it ...short and now long !!Im actually very confident here .....