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Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Provides an update on two contracts previously announced in October 2021, for a wireless backhaul solution, and November 2022, for a broadband wireless access solution. Contracts have a combined value of $740,000. Company has experienced delays with these contracts, with the customers unable to deliver the required hardware to the company. Says it has now been notified by the two customers that they intend to deliver their prototype hardware during the final quarter of 2023. Once delivery of the hardware has taken place, the company will be able to complete the contracts and invoice for the remaining balance of $550,000. Contracts are now expected to be fulfilled during the final quarter of 2023 and the first quarter of 2024. Current stock price: 1.64 pence, up 4.0% around midday in London on Wednesday 12-month change: down 88% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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