It was declared the largest artificial intelligence center in Europe and was to be located in Laguardia, in Alava. But after a year and a half, the company decided to suspend sinus dies that design. Eternal Mentis pointed out this week the high cost of building materials to justify not building the Brain Mirroring Center (BMC).

The company is listed on the stock market and therefore informed the market about the change in its plans by launching profit alert in their accounts by 2025. By that time Aeternal Mentis had expected to achieve sales of 47.5 million euros, but now its forecast is 80% lower. up to 9 million. The company’s strategy now is to “install modular units in different places in the European Union”, but did not specify where exactly.

Laguardia City Hall was not aware of the change in plans for Aeternal Mentis, municipal sources confirmed to this newspaper. From the council of Alava did not answer questions Independent. The company was going to build a plant in the municipality with nine work units and an office building. As published Mail last November the company didn’t even pay the building permitdespite having announced the investment over a year ago.

Aeternal Mentis recently changed its tax address, it is now in Iberdrola tower in Bilbao, in Plaza de Euskadi no. 5. In 2021, he made a profit of 342,000 euros. In 2022, the company billed €1.69 million and generated a gross operating income of €1.3 million. The pre-tax result was €238,000, down 30% from a year earlier.

The income statement includes expenses in the amount of €7,000 related to personnel costs. However, in the reports for 2021 deposited in the commercial register, the company indicates that it has no employees.

Without the consequences of the pandemic, but with ICO loans

In the 2021 report to which this newspaper had access, the company states in connection with the coronavirus pandemic that “until the date of these annual reports did not have a significant impact on the Company’s activitiesand according to the current estimates of the Administrators, no corresponding effects are forecast in 2022.”

However, despite the recognition that the pandemic did not have a significant impact on operations, the company received up to 6.1 million euros in loans guaranteed by the Official Credit Institute (ICO). The company received three public guarantees for 2.4, 1.6 and 2.1 million euros, all three in 2021.

The company received up to 6.1 million euros in loans guaranteed by the Official Credit Institute (ICO).

123 million capitalization

The company made the leap to financial markets in July 2021. The owners of Dialogues, who control the company engaged in artificial intelligence, have brought it to Growth of BME with a capitalization of 37 million euros and a total of 13,232,166 shares with a par value of 2.8 euros.

The first months on the floor were impressive and since the first day the shares were listed at an all-time high (€21.60 per name), the company has gained 390%. The development of artificial intelligence and the interest of large investment funds in this sector played a key role in making Aeternal’s entry into the stock market go smoothly.

However, at the beginning of 2022, everything went wrong. The company’s shares fell seriously, and their value fell from 21 euros to 9.90 euros. The main reason was abandonment of the market due to constant delays in the start of work centers that they agreed on.

“Due to a number of external factors that have had a negative impact on most sectors, the company has partially deviated from its original financial plan. Thus, the conflict in Ukraine, high inflation, rising interest rates and skyrocketing prices for building materials in the first semester, contributed to the revision of the business model in order to find alternative solutions which allows you to expand the infrastructure of facilities and meet customer demand for services, adapting to current circumstances,” limited BME Growth.

During the past year, the company’s shares have remained virtually unchanged, and trading in Aeternal shares has hardly gone unnoticed by the market. In this 2023, when artificial intelligence seems to be one of the engines of the economy in the technology sector, they also failed to take off, and at the end of the day on Friday, the price for the name was 9.30 euros.

Stocks fell again after, as said above, the artificial intelligence society canceled sinus dies construction of artificial intelligence centers planned in Alava. According to the company’s documentation in BME Growth, the majority of the shareholders belong to the owners of Dialogues. (Asier Felipe Garate and Santiago Fernandez) from 94%. Financial sources explain to this newspaper that this is “unusual for a company with free swimming only 6% are listed on the stock market”, but this may “make sense” when looking for a “future partner in the markets”.

Dialoga, a company in conflict with Telefónica and Vodafone

Dialog group, a telecommunications operator and communications service provider founded in 2007 with its own network in 29 countries. The company has a network of offices in Bilbao and 6 countries in Europe and the USA, as well as more than 14,000 clients. The sales of this company in 2020 amounted to 75 million euros, which is reflected in the latest invoices deposited in the commercial register.

Much of his business is focused on high quality telephone lines, messaging service and online chats and fax. In fact, the company has been sanctioned several times by the National Market and Competition Commission (CNMC).

Between January 2018 and October 2020, it was discovered that the companies of the Dialoga group (Dialoga Servicios Interactivos, SA, Incotel Ingeniería y Consultoría, SA, Operadora de Telecomunicaciones Opera, SL, Contacta Servicios Avanzados, SL, Incotel Servicios Avanzados, SL and Internet Global Business, SL) have unreasonably and repeatedly denied requests for fixed number portability.

According to the CNMC opinion, for which the group had to pay one million euros, “Dialogue” delays or prevents customers from changing operators in violation of the rules valid at that time.

Dialoga, which appealed the decision, went so far as to denounce Telefónica, Orange and Vodafone “for initiating processes to transfer ‘inactive’ geographic numbering without assignment to end users or customers in order to obtain publicly available numbering resources. gold intermittently in 2020 and 2021″ regarding “initiating ‘active’ geographic numbering transfer processes without end-user or customer consent”; claim damages and initiate an administrative penalty procedure in respect of each operator. A complaint that never flourished.

CNMC indicated that “several of the revoked numbers were not assigned to the applicant operators, but transferred to their network”. On the other hand, the regulator finds that no portability processes are recorded for other numberings and adds that some numberings provide “a copy of portability requests made by end users that record reported numbers”.