Member Info for David1951c

Today a few sales with value £10k cause a SP drop of 10%. AIM pricing is not fit for purpose and the volatility is a major turn off got PIs. No wonder so few companies are listing in London nowadays.

Potential looks good but the key question is funding and how much cash remains. Will it be enough to avoid a fund raise? Cash at year end was £1.6m and probably using at least 500k per qtr. How quickly will income ramp up?

With Mcap of less than £3m it could do well and interims at possibly end of September will be a major indicator.

Thanks for comments. I already made a start with 50k shares last week. I still would like to see some timelines with Wastefuel plans.

With reference to EQT I think their technology is good and will come through. Delivery is another matter and where they have failed to meet expectations or their own timelines. It is being better supported in France and hoping this will work out as a showcase as I hold a chunk of shares for some years.

2phevs

As a regular poster on IX. please would you give a view on why there is such a disconnect between Mcap of $22m and portfolio value (unaudited) over $150m. Potential is there but it is unclear from Wastefuel website when any plants will be up and running. This is by far the largest part of the portfolio and may well do well but production may be 2 years away. They need to prove what they say they can do.

Mcap less than £20m now probably means below minimum threshold of II's. Unfortunately QED have not got a cornerstone investor to take a major involvement with £5m or more.

Having just looked at previous meeting on IMC, the number of questions is huge. Never seen such a large number. Gives more confidence in the future. Added and took up OO just to help out!

News today is another step forward but hardly transformational so SP has not moved. There is long awaited news on filing FDA 510K submission for Cardio inCode® (kit format) which is taking longer than expected. This is not a company with a big following on here but a lot is going on in various big markets including USA, Germany and UK.

There is enough cash to last into H2 2024 and by then revenues should be rising. Current SP is disappointing but an opportunity to build a holding. High reward / risk holding maybe.

AIM is not entirely dead but it is a risk. Getting it right pays off. I bough Ondo shares for under 10p on basis of potential and that is well ahead.

Right way to go as I suggested some weeks ago to sell in France. Raises cash, great partner with capability to drive expansion, shows belief that other potential partners will be interested in. Transformational is right for once!

Good potential investment but the cash position could be tight. This is the downside risk for me. Looking at the 2022 results and likely cash now suggests there may be an additional funding requirement. Will wait and see.

This is a great pity. A company with a lot of potential is on it's knees due to delays and lack of funding a burden faced by many small companies. Plenty of potential in products but unable to raise cash to fund the final steps. Macro economics are partly to blame and high interest rates with unwilling lenders mean that companies go to the wall.

Policymakers in UK are partly to blame and there should be government support through an investment bank. Big talk about helping British companies but no real support when times are tough.

SP was 47p last year and the impact on investors is huge and undermines confidence in all companies needing to fund their development.

Have a few shares and tempted to buy more but the key issue is still funding. In spite of the confidence expressed in RNS, any delay in sales and the impact of inflation on materials and components could de-rail the budgeting. Also, no new orders have ben announced in last 2-3 months in spite of the promising pipeline reported.

Tough call and hard on investors considering year high was 150p. AIM is a shambles with too much SP volatility which greatly undermines investor confidence.

It is a shame that a company with good products is struggling in this way. UK finance and policymakers have a lot to answer for!

Results tomorrow should reveal a lot of information about the metrics which can be used to value the company. Info should include the numbers of installed units, unit prices, recurring revenues as well as the usual financials on admin costs etc. This should help fill in some of the gaps as well as enable a view on the future revenues with the expansion that is happening rapidly. It would be good to know if the roll out in Sweden is progressing well and how it is developing in USA.

Some of the deals announced will not initially produce great revenue, such as with AIG but the huge potential is beginning to take shape. The advantages of Leakbot including effectiveness, simple installation and low cost are significant and if in use it is proven to be market leading then the future looks good indeed.

I am not expecting huge revenue for FY 31 March but with 75m shares in issue the Mcap is £15m at 20p SP. For a growth company this would seem quite attractive.

The exercise of warrants and another investor led approach would be welcomed to finance the expansion in unit production to meet demand. Far better this than a heavily diluted fund raise which afflicts the market right now.

Where is this information as it is not on Ondo's calendar on their website.

Terry, I don't normally respond to either ramping or deramping but please tell us what is your motivation for your unhelpful negative posts which do not explain the basis for your position. Much appreciated!

Have been invested here for two years and added recently. Conundrum is whether to add more with SP dip or due to AIM volatility could it drop further. The drop over the last month from 28p spike is quite sobering.

With Mcap of £8.5m and cash at possibly £8m now, it seems odd the SP has sunk so low but with a company in transition (from covid tests) to new products, there is a risk that revenue and margins might suffer also with costs invested for new tests. July update could be pivotal if the strategy is working.

So at this stage it is difficult to value the company and gauge whether the SP is materially undervalued. Tough call?

I joined online for the AGM yesterday and felt that the questions were answered quite well. Did anyone ask if the MDC was running and fully operational? I would like to believe it is and assume it wouldn't be shown to other potential customers if there were any doubts or problems. I would like to trust the management team but on AIM there have been too many instances of investors being lied to usually without later sanction e.g. Deepverge.

I have been invested here for more than 5 years and have a low average so I will top up and hope this is the time when EQT finally deliver with a sustainable capital light business model. France is the key and if they need to raise funds perhaps they could invite a cornerstone investment into the French subsidiary and raise £10m that way!

UK success in insurance is likely to come initially from High Net Worth clients (values and premiums are higher) as an add on for client protection and retention. It may be about loss prevention and claims reduction but also given the size of water bills, there is great scope on saving loss of water regardless if there is an insurance claim.

It is not just about insurers in UK. If water companies like Portsmouth see Leakbot as a means of meeting water loss targets, then the potential is much greater than with UK insurers.

One of the important points for Ofwat and water companies, is the ease of installation as the leakbot device clips to the incoming water supply. As well as the Ondo site it is promoted on the Covea website.

https://www.coveainsurance.co.uk/products-and-services/high-net-worth/leakbot-device

Also the Test pilot reviews are 91% 5* on 783 reviews. At a cost of about £30 each device it will quickly pay for itself.

Without more information it is impossible to put a value on this company as it is new to the market (effectively 2022) and how the impressive number of new customers will increase revenue from new Leakbot units and how that will translate to recurring revenue. Numbers for H1 to 31.8.2022 are a guide but are insufficient to make a stab without too many assumptions. Further little is known about the capacity to support massive expansion. Year ending numbers of installed units would be a good indicator and hopefully released in advance of YE financials.

Based on what is known and in the pipeline the potential appears significant. News from Portsmouth tomorrow could also be significant and confirm the potential in addition to insurer based agreements, which are with well known names.

The SP increase is welcome but has few fundamentals to support the speed of the rise. Ondo could release more information on progress but at least they haven't said they know no reason for the SP increase. I am happy as have quite a few at average of 9.2p.

Recently dipped toe in with 20k shares. There is a lot happening including the latest RNS on NICE review. How long does this kind of review take - any ideas?

Is there is any indication from the company when FY results will be issued? I haven't found any so assume they will be out before the end of June. There should be around £10m in cash at year end so enough for say 24 months but of course revenue should be rising in H2 with expansion and reimbursements beginning.

SP decline is very frustrating as there is a lot going on and the right news could be transformational. Bought 15k more for 13.20p but on LSE shown as a sell.