17th Jun 2020 12:13
Ethernity Networks Ltd - Network technology & security firm based in Israel - Says application for grant from Innovation Authority in Israel declined. Failure to secure grant has resulted in implementation of further cash conservation measures which include reduction in research & development resources that are not tightly coupled to the deliveries around its 5G UPF-based ACE-NIC100 product offering. It will also review its product developments to focus resources and solutions on its key markets and customers, with the revised focus expected to further delay developments in products outside its key focus on network function virtualisation and the 5G market. As of June 16, company had cash of around USD540,000
Current stock price: 22.90 pence
Year-to-date change: down 47%
By Ife Taiwo; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Ethernity Net