Cloud PR Wire

Ethernity Networks CEO looks forward to 2024 after “reviving” business in H2

–News Direct–

Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF) chief executive David Levi speaks to Proactive's Thomas Warner after the networking and security software solutions company released a trading update for calendar year 2023 – a year Lev himself describes as "extremely challenging."

Levi starts by talking about some of the positives from the year, noting what he calls the collection of $4.5mln, an increase in gross margin and the announcement of an improvement in the company's cash position during the second half. He describes the action taken during the second half as a "successful revival of the business operation."

He goes on to talk about his hopes for 2024, saying that he expects to generate positive cash flow, saying "all in all we completed product development, and now is the time to monetise the business based on what he have developed." "The major thing for investors is that… we plan to operate a positive cash flow but we need in order to do that we need to improve our balance sheet to attain new customers."

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