Member Info for Gallmat

I don 't know the history on the other poster. But portsmouth saying they are only interested in 2500 units over such a long period is not great.

They do validate leakbot but essentially say smart meters are a good route to solve the issue.

Thanks for this.

I think the company really does need to address this directly in their presentations.

If leakbot is superior we will see lots of deployment. I am going to wait for some confirmation.

The point made on the last placing is not uncommon. New broker appointed.. check the cash position.

Thanks for the post. I am not trying to put down the business just highlight potential explanations for price declines.

Companies short of cash are getting hammered so just looking at the story and ignoring the balance sheet is dangerous.

If i saw big orders coming in yup.i would jump all over this stock. But with a shortage of capital i feel there is no rush to get in.

On a positive note. If they get traction even for few years they have a massive opportunity which dwarfs the share price.

I think this is my key worry.

Water companies want smart meters, if they can do even a 70pct replication of leakbot that is enough.

Someone will run an algorithm over the data and the companies will not need to be bothered with additional devices.

Ondo really need to address the competition item head on. Especially if a company they work with are saying they have a better idea

Not really trying to do anything other than discuss. Why does every opinion have to be met with an accusation.

They seem to have a good business. But with 0.8m of current assets and no comment on current liabilities. How much working capital do they have?

Expanding into these new states must incur legal expenses, increased staffing.

Even with 0.8m gbp assuming no current liabilities is it enough.

These are fair points.

If not, why do you think the share price is falling if everything is perfect?

I spent a couple of hours reading latest results.

1. Clearly states they need to raise capital in next 12m. See going concern section and ceo statement.

2. Warrants are outstanding at 22p price, which could bring in money but we are below strike. So unlikely.

3. In last results we had 800k gbp in stock at cost. Assuming a leakbot costs 10 to 20gbp. We have 80k to 40k of units made for up to medium term demand.

4. Our it costs seem to scale with output but staff costs do not. However if we go into new regions (USA) i coule imagine needing to expand the team significantly.

My take is that 2024 will have significant opportunity. We will roll out in USA and more in Scandi. But i think we definately need more cash to do it. The city is brutal for fundraises and will want it cheap.

Brilliant business ( if can beat ai and smart meters), but i think the uk sadly does not give credit to small non profit making companies - unlike in the usa.

In an interview did ceo not say they were not that cash positive in firsy year. Somewhere he said margins in second year were larger say 80ct.

Mind u, the pricing in usa seems to be 5usd which is much higher

I have not found much info yet but wint.ai seems interesting. Using an AI analysis to target leaks rather than sensors like ondo.

My only worry here is are we developing a sensor based tech when an AI analysis might detect 70pct of issues.

I am going to ask ondo to include slides on competitors

I mentioned this to ceo on multiple calls but he does not listen. That is the issue.

Talking about 8pct of market when you cannot get anyone to give you a couple of mill usd to ramp up to break even is nuts.

This is biggest issue, this is not executed professionally.

Dfs. Offtakers, financial forecasts and contingency built in

Sadly run like a small family business. Have a go and debug it later.

Personally i cannot see governments taking the company seriously for grants, especially given they could not get their accounts made on time

They are held early june so i am hoping there is no delay but we never know

I think it will be longer.

Elections are starting in india and this probably shuts down alot of discussions.

I think they are also making good progress.

Most likely they win new deals but i think this will require expenditure on legals, more usa staffing and working capital.

Does anyone have access to broker note. Seems like non retail only, which is crap given this is a retail stock

They can be bed and isa trades.

You sell from one account and rebuy into isa.

Often you see same sized trades executed at similar prices in new tax year.

You cannot just transfer existing stock into isa account, it needs to be done via a purchase on open market

Before saying such things. Think about this.

Did they state net current assets. The have mentioned the assets but have said nothing about current liabilities.

Implicitly you assume there are no liabilities due which is very unlikely

My guess is that they are incomparable, i would expect the value per oz of tier 1 deposit vs something marginal to be very different. Hopefully we get some new soon

Any thoughts on the interview.

i actually like the CEO. Normally he is full of energy but this time he was quite stiff and stumbling.

he mentions getting ISO standards etc to get through next stages in USA.

He seemed very awkward this time. He says he was backing up broker forecasts about being inline but his manner was not the best

I had a feeling cash is the issue here. You may have potential growth but you still need working capital and a runway

I think the last funding raise said it was to support the new business.

It seems like every good small business gets screwed over in uk market. The institutions starve them for capital and rip them off.

If this was in usa they would have cash thrown at them.

Sad state of uk market

Hard to know. 1m is my guess, nothing before result of auction is my guess.

This data point gives GOI information on value of asset they can realise. If they want to talk you need to factor in indian bureaucracy so could be longer.

If we plan not to try and wait will be less

Its not really about saying how much case he has to invest. More the point about saying how aligned you are, overplaying it.

I think they do have good progress coming, but that will require more funds for production and ramp up.

I could easily be wrong, but the deals are not super cash generative in first year and going from sub 100k units to 1m units is a big change in capacity