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Jigger
Looking for cheaper entry point clear as mud what he is up too
Gla
Hi Jigger-1, Thanks for your in depth research, I had been looking for a bit more detail in the update regarding the Nationwide roll out, I note that initially they are starting in just the one state, that's Ohio, that might account for the lack of publicity.
Ok
Lets keep it more concise. Things like the below weaken the message
So I contacted their HQ in the US, who stated they ‘don’t know about it’!?!
GM – I’m not suggesting they don’t have a contract but that it’s not been executed in Q1 (as promised via the RNS).
It’s the delay in the delivery of the contract I’m highlighting – hence the Q’s below.
Jigger this is enough
It is illegal to misslead in RNS. Of course they have a deal. Who do you know in a multibillion company in USA.
Earlier comments made some valid points but this is starting to take over the board
You made some valid points but this is clear de ramping.
Please refrain from so much of this. We do not need 15 points like this.
To get through due dilligence with a multi billion company could easily take this time.
You need to integrate supply, systems, marketing plans.
2 of 2
CF stated in the Nationwide RNS over 5 months ago that:
“We look forward to making a success of the first state deployments in early 2024 and expanding from there."
https://www.londonstockexchange.com/news-article/ONDO/nationwide-partners-with-ondo-for-leakbot-in-u-s/16207984
The company then RNS’d a trading update on 160424 stating:
‘In the US, the Company is in the early stages of its rollout’.
What does that statement actually mean, in relation to Nationwide? I think some questions need to be asked, such as the below: 👇
Why is the company ‘in the early stages’ still after 5 months – the RNS previously stated it was happening in Q1?
Are they just talking about sending a few Leakbots in the early stages now?
Have any been shipped at all?
Is there any marketing taking place prior to Leakbot’s launch? Where is it?
Why aren’t Nationwide staff aware – is someone going to tell them? What about training? If so – when and how long will that take?
Why didn’t you provide some positive numbers about this contract on the trading update – it was a perfect opportunity to do so?
Is the company stalling for time now, due to execution and delivery problems?
It’s Q2 now! If not in Q1 – is it Q2, H2, this year?
Won’t the lack of progress here affect growth numbers and revenue forecasts?
The company will still be burning cash during any delays. Could this mean you require more funds soon via a capital raise?
I hope someone can come up with the answers soon!
IMHO
1 of 2
I’ve been making a few enquiries on Nationwide’s Insurance contract with Ondo. 👇
https://www.nationwide.com/
Leakbot is not exclusive to Nationwide, who have several other products available, including alternative water leak detection systems.
I was expecting to find lots of information around Nationwide’s newly released product with Ondo.
Unfortunately, I can’t find Leakbot anywhere!
No links via their homepage, negative results via their search facility, zero marketing material!?!
Checked general customer review sites – no mention of Leakbot being supplied to anyone by Nationwide?
Conducted a general web search and there is only the initial the contract announcement (from 5 months ago) that I can find?
So I contacted their HQ in the US, who stated they ‘don’t know about it’!?!
(make your own enquiries with them if you’re interested).
Gonna be good for Ondo their device detects small leaks before they potentially turn into bigger issues
Water companies will be lucky if they inform you before the life boats are called ha ha
Gla
I think this is simply a case of seeing the orders come in ( commercial adoption).If they do they company will make money over next 5 yrs.
If companies just keep trying it then it is not so sure. Big water companies wilp try lots of solutions because it does not cost them much
Leakbot might have some competition now or in the near future. If they can do well short term the share price is a gift.
Only commerical adoption will prove it.
I have a smart meter fitted my neighbours and some of my family
Some of us have had water leaks and none of us was informed by the water company
Pie in the sky
Ondo are giving a service water company’s do not and will not
Gka
The Evolving Landscape Of Smart Water Meters 👇
Expanding Meter Capabilities
Smart water meters are seeing a greater need for precision in order to meet the efficiency and sustainability goals of water utilities. Bindler explained, “The biggest trend we see is the move toward solid-state meters, whether electromagnetic or ultrasonic. These meters, devoid of moving parts, offer heightened accuracy, reliability, and durability over time, significantly reducing maintenance costs.”
Moreover, Bindler highlighted innovative trends in hardware, such as the integration of additional sensors within residential meters. “Embedding pressure sensors, temperature sensors, or even acoustic leak detection capabilities within meters is gaining traction,” he added. “This enhances the meters’ functionality and provides utilities with a more comprehensive understanding of network conditions.”
Data Demand Drives Software Developments
Metering-related software alone is expected to grow at 12.7% annually. A major driver is the focus beyond traditional billing toward proactive customer engagement. Bindler elaborated, “Smart meter data can be leveraged to build more proactive relationships with customers. Utilities can analyze individual water usage, identify potential leaks, and provide customers with personalized tips to reduce their water footprint.”
https://www.wateronline.com/doc/the-evolving-landscape-of-smart-water-meters-0001
I believe there are a number of similar systems out there and improving rapidly, via the application of AI.
You may find the links below helpful 👇
Siemens data platform helps Northumbrian Water to tackle household leaks
The water utility is undergoing a major rollout of smart meters, which report data back to the cloud on an hourly basis. The Siemens Software-as-a-Service (SaaS) solution will allow NWG to analyse this data to identify household consumption anomalies and alert customers of potential leaks on their properties.
https://press.siemens.com/global/en/pressrelease/siemens-data-platform-helps-northumbrian-water-tackle-household-leaks
https://www.siemens.com/global/en/products/energy/grid-software/energyip-meter-data-management/energyip-water.html
2 of 2
That’s why Portsmouth Water are ordering miniscule amounts of Leakbots over the next 5 years 👇
Portsmouth Water Resources Management Plan 2024
‘We are now confident that such devices add value to the customers of Portsmouth Water, as bulk buying provides a discount rate. Recognising that smart water meters will eventually provide universal leak and high usage alerts we will contain the deployment of these devices to the first 5 years of WRMP24 (AMP8) and offer the devices out to customers at a rate of 500 per year, meaning a total deployment of 2,500 in the period, a 150% increase on AMP7.’
https://www.portsmouthwater.co.uk/wp-content/uploads/2023/09/10B-rdWRMP24-Appendix-10B-Water-Efficiency-Strategy.pdf
Only 500 a year for the next 5 years – not good!
Portsmouth Water supply a population of circa 700,000. That equates to an annual penetration rate of less than 0.01%!
Water companies have been directed through regulations by UK Gov and are already committed to the huge rollout of smart meters nationally (throughout AMP8 and for at least the following 5 years).
If the water industry takes the same view as Portsmouth Water, Leakbot will just become a temporary PR gimmick for them and supplied to just a handful of customers!
IMHO
1 of 2
Bladey – it could affect Ondo in two ways, as follows:
1 - Smart meters will perform a similar function to Leakbot (albeit with less sensitivity). Subsequently, this reduces Ondo’s ability to sell and market Leakbot to the water industry.
2 – Smart meters would enable the water industry to deal directly with the Insurers and do their own deals i.e. cut out Ondo. This could directly affect Ondo’s core business model of providing a water detection device via the insurance industry.
This isn’t just my view, Portsmouth Water have come to the same conclusion, please see below: 👇
Portsmouth Water Business Plan 2025 to 2030
Benefits of a smart metering programme…
… ‘We’ve opened a dialogue with insurance companies, some of whom already offer leak detection devices (such as the ‘Leakbot’ already mentioned) in return for lower household insurance premia. Smart meters would perform a similar function, avoiding the need for new devices.’
https://www.portsmouthwater.co.uk/downloads/pr24/PRT01-excellence-in-water-always.pdf
So, Portsmouth Water are now looking into marketing Smart Meters to Ondo’s core insurance market, as a potential alternative to Ondo’s Leakbot.
BandB – well we’re 8 years into the ‘best product’ on the market and even the original parent company gave up on it in 2020! 👇
Leakbot has been in existence since 2016 and was subsequently written off by its own parent company Homeserve, due to demand being “slower than expected”.
Homeserve writes off £15 million leak detector as a pipe dream
https://www.thetimes.co.uk/article/homeserve-writes-off-15m-leak-detector-as-pipe-dream-zjzsjwgvm
After 8 years on the market, you would expect Leakbot to be widespread – unfortunately, it’s not?
Jiggered - ‘Small keyboard warriors’ - if you check back through Ondo RNS list you will see that the chap you are denigrating holds around 3% of Ondo shares, so extremely small fry.
You also fell out on Telegram with Gervaise Heddle who holds over 5% of Ondo shares, and is a former CEO of Greatland Gold.
By the way there is an important exception to the concept of ‘Argumentum ad hominem’.
Many philosophers have observed that questioning a person’s character is a fallacy only insofar as the person’s character is not logically relevant to the debate. You were challenged on Telegram by several people on the basis of your actual behaviour, so your constant parroting of Ad hominem is not relevant.
I recommend that you take on board another useful philosophical concept. “When in a hole stop digging’.
ITS – I don’t think dealing with small keyboard warriors, who then start crying about it, fits the definition of cyber stalking (following several polite requests to desist)?
The offence of cyber stalking is a criminal offence involving repeated threats and harassment (Protection from Harassment Act 1997).
If you actually believe anything that you’re saying, I would urge you to report the matter to the police and ask them to investigate it. Please let me know how much of their time you waste and the result?
Again - ‘Argumentum ad hominem’
Anyway, back to the real world and the company.
I hope you enjoy the rest of your weekend.
Jigger seeking the moral high ground! The man who had to exit the Ondo Telegram group because of his own dodgy behaviour.
You cyberstalked one of the contributors in the Ondo group, and shared his personal information on the group in a misguided attempt to intimidate him. Constantly spouting ‘Ad hominem’ is hilarious coming from someone who behaves as you have done.
Hi
Come back in 10 plus years people can’t see the wood for the trees sometimes Ondo best on the market
Gla
I'm not sure how smart metering is as an opposition to the "ONDO" plan! Can someone explain?
How does Smart Metering pose a threat? Does it have software that can detect out of hours water usage based on a ongoing algorithm build? Furthermore, reporting this to supplying companies? IF so, does anyone have any evidence or links on which I can read through?
Thanks
ITS,MF - Thank you for engaging with me and for your personal opinions about the company’s ongoing issues.
I don’t agree with most of your rationale for several reasons (which I’ll try to reply to later when I have a bit more time).
However, can I respectfully request you consider the below, regarding the specific comments about me please:
‘Argumentum ad hominem’ – a type of argument or attack that appeals to prejudice or feelings or irrelevantly impugns another person’s character instead of addressing the facts or claims made by the latter.
https://www.youtube.com/watch?v=ktxlGccmSjY&t=54s
My motives are to make sound investments decisions based on research (sometimes bullish & sometimes bearish). I assume most other investors, also prefer to hear both sides of the debate.
If you’re seeking ‘confirmation bias’, you may wish to participate more in the other closed chat group you have referred to (there is still plenty of that bias continuing over the last couple of days).
I’m sure anyone reading posts on here, is more than capable, in deciding whether to ignore the information or take it into consideration (no matter who it’s from).
If you feel able to stick to the company issues without resorting to ‘Argumentum ad hominem’ in future posts, I would be very grateful.
I hope you have a pleasant day.
“When the debate is lost, slander becomes the tool of the loser.” – Socrates
Various recent written comments have been made this week highlighting the frustration of being unable to access the broker research; Dowgate the CEO referred to in his different interviews earlier this week. Within this research note the analyst states that the current cash balances are fully adequate to meet the Company's current requirements. For those wanting to read this weeks published research note on OnDo as well as others, the Dowgate research note which has forecasts and price targets can be accessed through Research Tree website
Nice buy gone through for just under £15k
I think a problem right now is people are not understanding how liquidity can affect a stock for both the good and the bad.
People have seen the price drop and are automatically assuming something must be wrong, when that to me clearly isn't the case.
Look at the price drop today - red day but its off the back of just two trades for less than £10k, absolute peanuts
With there being very low liquidity in the stock at the moment, if someone wanted to sell some shares the price ends up having to drop a fair wedge to find the trade point.
Equally however this means that when the good news comes (which I am extremely confident it will, as all signs point to it) when punters want to buy in there will be f all stock to buy from so the market will have to jack the price way up to entice holders to sell.
Personally I think the trading update RNS was perhaps a bit reactionary to a falling share price, but the update was GOOD! CF clearly stated that the company is hitting all the targets the brokers expected, which is f'ing brilliant.
I also wonder how much of it was an unfortunate cycle of closing spreadbets as it used to be open for it till recently.
One guy closes causing a sell, so price drops due to low liquidity, so next chump gets an auto margin call, causing another drop, causing the next guy etc etc. Now they've blocked opening positions.
So that's out the way, volume is back to its insignificance and we move on with our lives till the next update (which I believe will be a whopper)