Ethernity Net (ENET) is an Israeli-based
technology company that develops and markets software and hardware solutions
for the networking industry. The company's products are used by
telecommunications operators, internet service providers, and enterprise
customers around the world.
ENET's share price has been on a downward
trajectory in recent years, and the company has been facing a number of
financial challenges. However, there are some investors who believe that ENET
has the potential to turn things around, and they are continuing to hold onto
their shares.
Recent news and developments
On October 17, 2023, ENET announced that it had
relisted on the London Stock Exchange. The company's shares had been suspended
from trading in July 2023 due to concerns about its financial viability.
In the announcement, ENET said that it had
secured funding of £1 million from a new investor. The company said that the
funds would be used to "support the Company's growth strategy and working
capital requirements."
The relisting of ENET's shares was met with
mixed reactions from investors. Some investors were optimistic about the
company's future prospects, while others were concerned about its financial
position.
Financial performance and prospects
ENET's financial performance has been weak in
recent years. In the year ended March 31, 2023, the company reported a loss of
£1.4 million. This was a significant increase from the loss of £0.5 million
reported in the previous year.
ENET's revenue also declined in the year ended
March 31, 2023. The company's revenue was £1.8 million, down from £2.2 million
in the previous year.
The company's financial position is also weak.
At the end of March 2023, ENET had net cash liabilities of £1.1 million. The
company also has a number of warrants outstanding, which could be exercised for
up to £0.5 million.
ENET's financial position is a major concern
for investors. The company needs to raise additional funding in order to remain
solvent. However, it may be difficult for the company to raise funding given
its weak financial performance and prospects.
Latest chat from Ethernity Net share holders on
the London Stock Exchange
Share holders on the London Stock Exchange have
been discussing ENET's share price performance and financial position. Some
share holders are optimistic about the company's future prospects, while others
are concerned about its financial viability.
Here is a summary of some of the latest chat from Ethernity Net share holders on the London Stock Exchange:
· RichardMaid: "I told you this was going south over a year ago. Sorry that I am right."
· Joe_Bloggs: "What's gonna happen to PM and DL's shares at an average of well over 6p ?"
· mcadder: "They are running on fumes, be surprised if they can get another placing away in the current environment, unless it's one that results in huge dilution at current SP."
· bidnolid:"The fact this has relisted for now is not necessarily a good thing imo. When this suspended they stated on one line - "The Company's current cash balance is c. $107,000."
· ripley94: "Back from a two day suspension and down 60% not looking good at mercy of creditors."
Conclusion
Ethernity Net is a company that is facing a
number of challenges. The company's financial performance has been weak in
recent years, and it has a weak financial position. The company's share price
has also been on a downward trajectory.
Despite these challenges, there are some
investors who believe that ENET has the potential to turn things around. The
company has a number of promising products and services, and it has a strong
management team. However, the company needs to raise
additional funding in order to remain solvent.
It is important to note that investing in ENET
is a high-risk investment. The company's share price is volatile, and there is
a risk that the company could go bankrupt. Investors should carefully consider
their investment objectives and risk tolerance before investing in ENET.
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