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It will go as low as a very small amount of people are willing to sell.
Just look at the trades, it's going this low because literally one person is happy to sell £1500 worth for 15.22
Its not thousands and thousands worth of sells every day, literally just every day one or two trades for £1500-2000 that people are happy to accept a lower and lower offers for.
I'm not bothered, the price drops on such little volume just means once people try to buy in it'll will shove a rocket in the backside of this
The company is deffo making headway with the Lansforsakringar roll out in Sweden.
Checkout alf.se
Bit of google translating and its a new company set up by LF to bundle together smart tech for damage prevention. Leakbot in included in the "Villa" package
So see through Jiggy boy.
Butthurt because you have sold at a loss because market fluctuations spook you and you are terrified the news you were once preaching was imminent will catapult this upwards.
Now trying to justify your poor life decisions. Pathetic.
Hypocrite.
Jigger, you are a hypocrite. The only reason you have changed your tone is because you probably got spooked, sold at a loss and then now want the price to go further down to convince yourself you made the right choice (you didn't)
All the "research" and "red flags" you are posting were ALL available at the same time you were non stop ramping and you would argue against those that disagreed, just like tou do now.
I happily take onboard bad stuff, I think for example director remuneration is too high considering the financial position the company is in and I've previously been vocal about that.
But you however have gone from arguing that this is miles better than smart meters to saying they're pointless because of smart meters.
So either you are admitting that your former research was useless, in which case - why would we trust yours now.
Or you admit you were lying before, in which case why would we trust what you say now.
And to now claim the company is lying about Contracts that you previously argued was "clearly them starting their marketing" is just ludicrous.
You and your posts are insignificant anyway, but I have a personal dislike for people like you so I'll be here to remind you of your hypocrisy
Jiggy Jiggster here is a compilation of some of your quotes on the board:
"E88 - 100% agree with you regarding Leakbot being superior" 23rd Nov 2023
(Quoting some Nationwide press stuff) - "Looks like Nationwide have already started up their marketing engine for water leak prevention!" 3rd Dec 2023
You started a thread titled "Rising Home Insurance Claims Favour Leakbot Technology" 3rd Dec 2023
You started a thread titled "Vast opportunities ahead for Ondo Insurtech" 5th Dec 2023
On the 15th December you linked to articles showing how Ondo was nr 5 on a list of the top 10 most innovative and disruptive Insurtech companies
"Bearing in mind that more contracts are already in the pipeline and are yet to be signed in 2024, I think the business growth is only just starting here!" 20th Dec 2023
20th Dec you also posted a 3 part post concluding that Statefarm was going to sign a deal with ONDO:
"Maybe it's just me - but everything he says he's looking for (Statefarms head of innovation) seems to perfectly match what Leakbot is offering!"
Another quote from that thread was "Should I buy now at a discounted SP (21.50) or try to fight forna few shares when the crowd arrive?? (Answer -the former!!)
You posted every time you saw a Leakbot plumber advert out. "Looks like some further expansion going on in the UL, Denmark, USA and Beyond!" 21st Dec 2023
Your thoughts about the water companies just a few short months ago was:
"Although this second huge new vertical revenue stream for Ondo is still in its early stages - if Ondo can ultimately combine the insurance and water utility industries I think the potential here is quite staggering! I believe that Lekabot will be the right product in the right place at the right time." 28th December 2023
"I think Ondos Capital light business model will see it through to profitability and beyond" 31st December 2023
"BBC Article out - fantastic PR for ONDO!" (Talking about the water companies use of the product) 29th Feb 2024
Same day "All helps to spread the word and engage potential new investors :) "
You then went silent for 6 weeks, and your posts since you came back have stated:
-Placing on the way and they need cash NOW (what happened to your love of the business model you previously cheered for?!)
-Smart meters are the future, Leakbot is crap! (What happened to all the arguments you previously gave about the exact opposite?!)
-Look at this competition for H2know! (What happened to your firm belief that Ondo was the best in class product?!)
2 days ago you said "My motives are to make sound investment decisions based on research"
No new news has been released, yet every - single - point of yours directly contradicts your "research" from just 6 weeks ago.
So I'm sorry but you're just a massive hypocrite which just spews absolute nonsense with a clear agenda.
And believe me I'll remind you of this any time you post in future 👍
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)
Furthermore in response to Jigger who is attempting to be very selective with what he posts.
Portsmouth Water
You allude to them preferring smart meters yet they themselves, in the report you posted say:
"We carried out a trial with 1,000 customer households in which
we provided home leak alarm devices, ‘Leakbots’. The trial
demonstrated an overall saving of 30 litres per person per day
through a combination of leak detection (found in 24 per cent
of homes) and nine litres per person per day through high use
alerts – attributed to internal plumbing losses. We plan to offer
2,500 devices to customers during 2025-30 to help reduce leaks
and save water in households ahead of the transition to smart
meters for all."
So just as I just said, they themselves are:
A) Agreeing Leakbot is a VERY useful tool
B) It is so useful that they themselves will be buying them
Way to prove how good the product is, and to show how it will take years for water smart meters to be installed 👍
H2Know
So a similar product yes, that uses accoustics instead of temperature to achieve the same thing. Yes there is a question as to which is better, which is a combo of cost and sensitivity (my money is on thermocouples being way cheaper and more robust than acoustic equipment).
But did you click on the link you posted? Wheras Ondo is signing contracts and is at a consumer sales stage, H2Know seems to be at proof of concept stage - so way behind
Title changed to a more appropriate one than the one Jigger is trying to force (btw he is a known deramper of the share for months now)
To address the smart meter angle, the company is called Ondo INSURtech. Water companies are an angle the company is pursuing yes, but the primary focus is and always has been insurance companies.
Despite being around for ages now, only just over half of homes in the UK have smart electric meters and installing smart water meters will take an awful lot longer. In that time insurers will have spent billions on water damage claims.
There is however a solution (Ondo) that is proven in trials to immediately help, so much so insurers are giving away both the product and money (in the form of discounts) for free to their clients.
So why would they wait for some long drawn out smart meter revolution in the future when they can send out a cheap, clip on, awesome device and start saving money literally instantly.
Even if smart water meters are deemed to be the future, even the water companies are realising that you might aswell ship these out to plug the gap and what will ONDO will do in that time? Bank loads of cash for share holders.
The argument just doesn't make sense to me. I wonder if someone somewhere is kicking themselves as they 14 years ago told their friends not to invest in Electric cars like Tesla as Hydrogen was the future so they should ignore that stock. Sure, hydrogen could be the future but that doesn't mean the world won't churn out EVs till then
As an investment, even if you're a hard core believer that smart meters are the future amd this product will become obsolete it doesn't take a rocket scientist to realise how small the company currently is and how few % of households need to take this up to significantly multibag your money
You're talking like its an end stage product that's already peaked lol
In the interims there were 84 000 registered users on the platform. Agreed, frustrating that in the trading update there weren't more numbers but just spend 5 minutes looking and you can see:
-There was confirmation that by next month all 6000 of the SW Water units will have shipped.
-In January they announced that 7500 units were to be shipped to Denmark by end of March
So those two small, confirmed contracts have added 16% growth to the interims numbers.
And that doesn't include:
-Lansforsakringar now rolling out all over Sweden
-Nationwide starting to roll out in Ohio
-Selective rolling out in New Jersey
Imo if you can't separate company performance from share price performance, especially in a stock with this little liquidity - these kinds of stocks aren't for you in the first place
In the short term I don't expect one but I do agree with your previous point that in future there could be one but if so it'll be because they won a fat contract and they'll be using the proceeds to accelerate growth which will be a big win for us (I would expect it to be at a premium not a discount)
I topped up with 3 trades today anyway
If we want to go one step further with cash, lets talk about how £400k accounts receivable will be from ONE client of Ondos.
I'm going to assume at that amount its probably a quarterly payment which would put the yearly equivalent of that to £1.6m. Again from ONE client.
In the interims the exit run rate end of September was £1.7m so if its now assumed >£1.6m from one client it looks like growth is well and truly still a factor here
Yet for some reason people can't see the woods for the trees
Say what now?
First, the placing was ages ago that money has been in the account since it happened
Secondly, it literally says in the RNS that it is from "account receivable"
If you don't know what that means a quick Google will show you that it means "money owed to a company by its debtors"
In laymans terms, the £400k is money owed to Ondo from sales of products to clients
How on earth is it "a touch negative"?! At start of the month they still had £800k, with a net cash burn since placing of only about £80k
And this number is looking backwards and not forwards. The whole strategy is low upfront cost for clients, and higher recurring subscription revenues so the net cash burn will from now only DECREASE and probably shift to positive very soon.
This especially as a huge amount of stock was built up (at a big upfront cost to the company) to satisfy the upcoming demand.
Literally everything points to this getting better and better
"if anything with the share buy back in place now is the perfect time for a fund or MM to aggressively buy and force S4 to pay more to make them profit."
This makes no sense.
As shareholders of SFOR, the lower the share price can be kept throughout the buyback the BETTER for us as it takes more shares out if circulation per £ spent meaning we all end up owning a little bit more.
The best strategy is to keep the share price as low as possible for the entire duration of the buy back and then let rip once complete
Robina is clearly a troll
Laughable to be talking about a capital raise, wtf do they need that for 😂
6p share price = £35m MCap.
What on earth makes you think that a company with revenue over a BILLION and Proforma EBITA still over £100m will warrant a share price drop to that and need a raise?!
SFOR is imo not down because its in any kind of financial distress, its just the marketing space has been slow and growth slowed accordingly and its snowballed = excellent buying opportunity IMO.
The Q3 trading update even says:
"The balance sheet has sufficient liquidity and long dated debt maturities to facilitate growth and our key covenant, being net debt not to exceed 4.5x the 12 month proforma EBITDA"
Martin Sorell even said in a Davos interview things started to look better in Q4, and that marketing budgets aren't looking as cautious as 2023 and things won't be as bad as 2023.
Couple that with downsizing of workforce, increase in use of AI and in 2024 there are no further merger payments.
F me some people are thick
I'm not saying it won't keep dropping, but if this is your overall strategy you'll definitely be losing money in the long run on your investments
Opening a short only after the big drops, predicting MCaps lower than AIM mining explorers, when there is huge risk to the upside if/when things turn is absolutely bonkers.