Member Info for ShearClass

The trustpilot reviews carry much more weight as they are mostly from customers that have had a leak fixed, 4.8 stars from 583 reviews is very good;

https://uk.trustpilot.com/review/leakbot.io

The 127 playstore reviews are almost all complaining about the usability of the app, the fact is Leakbot has been on trial for the last 3 years and the learnings gleaned from deploying it in the field should allow them to continuously improve the device & app.

The final point I’d make is if Hiscox and Direct Line have been trialling leakbot for the last 12-18 months and it was a waste of time, why would Admiral wait until now to purchase 20k units for its platinum customers?

It’s far more likely that they’ve been waiting for clear financial evidence to be published that outlined the value of leakbot, which came via the whitepaper released in early June;

https://wp-ondo-2021.s3.eu-west-2.amazonaws.com/media/2022/06/White-paper_-Counting-The-Savings-June-2022.pdf

As others have said, for £5m market cap there is a huge amount of potential upside.

@Camkite, I find it amazing that hardly anyone has spotted the opportunity here yet. I agree the business model is genius, it's win win for everyone - insurers spend less on claims, the customer suffers less disruption & expense from water damage & Ondo / Leakbot are rewarded for their patented technology.

So to clarify once and for all, the customer of Ondo = the insurers. Ondo do not deal directly with joe public.

The price per test is irrelevant if they haven't got reimbursement & insurance coverage sorted out in the USA. I honestly think this is going back to 40p, no reason as all for it to have a £172m market cap given the lack of commercial acumen shown by the BOD.

The issue here is that everyone looked at contract value without realising that gross margins are just 20% and a fair chunk of that margin will be absorbed by debt interest, nevermind overheads. Still heavily lossmaking until the top line revenue per annum reaches ~£150m...

Its £94m actually, 395m shares in issue. It's still expensive given the huge uncertainly around the cash position & consumer demand. Wouldn't touch it at present.

Wow, flagging a £50-70m adjusted EBITDA loss for 2022 with year end net cash of £5-30m... if they need to raise significant new capital then IPO shareholders are going to get smoked...

“Does anyone think that listing on ASX will open up ALL to shorting.”

Why would it? It’s a SETS (order driven) stock on LSE so if someone wanted to short it they could do so very easily… if it was quote driven at present as opposed to order driven then I’d say the risk of new shorts opening would be higher.

The end market is irrelevant. STX was trading at 200p post FDA approval, it couldn't find a US launch partner and then had to raise capital to go it alone. Lets see where AGL is this time next year, if they've not achieved any material commercial milestones then the share price will almost certainly be lower than it is today. As I type it appears to be heading sub 80p...

I still think AGL goes the same way as STX, if they can't generate significant revenue from Parsortix then the next fundraise will be lower than 80p. In addition they are targeting multiple markets which will significantly increase cash burn. Impossible to have any faith in the companies prospects given they've raised at a 50% discount to the year high, world class companies simply don't do that...

Another give away is in the use of proceeds;

"Establishing FDA cleared Parsortix system in the clinical market - sales and technical support, systems for deployment, marketing - £3m"

How on earth are they going to do anything in the US market with £3m? It's chicken feed...

Pure filth from the market makers, refusing to deal first thing and then setting a false spread to deter buyers. I just don't get it - let the buyers buy and sellers sell, there is no need to strangle the market like this...

Who on earth is buying after that RNS? TSG was flagged as a significant risk in the admission document, this is a huge blow to future revenue potential

"Dependence on the Tirupati Specialty Graphite Projects

The Group’s downstream value-added graphite processing and graphene manufacturing facilities are located in
India and owned by TSG and includes the Specialty Graphite Project and TGMRC, which represent distinct
business units and profit centres for the Group. Unless the Group acquires or develops additional downstream
processing facilities or projects, any adverse developments affecting the Specialty Graphite Project or the
Group’s rights to develop these projects could materially adversely affect a significant proportion of the Group’s
business and, financial condition and the performance and results of operations of the Specialty Graphite Project.
This would directly affect investors in the Company, as the Company’s share price could drop, which could
result in a decrease in, or total loss of, an investor’s investment in the Company. The Board feel that this risk is
reduced to a certain degree due to the support provided to the Group by its Madagascar Primary Graphite
Projects, which can sell primary graphite to other buyers; however, this remains a valid risk."

For what it’s worth Forensic505 was bearish here years ago when then share price was ~60p, from memory they compared LIT to MANO which they claimed was a far better investment. So I wouldn’t give any credence to ‘loss of faith’ today, I very much doubt whether they hold shares in the first place.

I also note that ENGAGE have very recently employed a LATAM sales exec; https://www.linkedin.com/feed/update/urn:li:activity:6950109194733727744/

The land grab is very much on...

Very interesting read on security & the future of the metaverse;

https://www.securityweek.com/securing-metaverse-and-web3

Quite a few quotes from our CEO, it really does appear that at this stage ENGAGE has quite a significant competitive advantage regarding security of data, hence why they've been signing up clients like KPMG, Abbott, BMW etc.

Fascinating to see how it develops from here and what David Whelan's end vision looks like...

I suspect the seller still has a few million left to get rid of, hence the market makers holding it back until he's out.

29/06 - 50m volume - seller clears 12.1m shares = 24% of volume

01/07/- 26m volume - assume same sell ratio as 2 days earlier = 26m * 0.24 = 6m sold

So 22.1 - 12.1 - 6 = 4m remaining.

So I'm looking for some big sells to confirm he's clear...

Bigger picture this now looks cheap - it was the same price in early December 2021!

Wow I never thought I’d see the day you could get a live quote for KR1 on HL…

Why 9k? The 80% decline that has characterised the max decline from previous peaks is at ~$13-14k, that'll provide significant support IMO. Below that $10k would also provide round number support with many buying as soon as it dipped under 5 figures. I don't see much basis for 9k...

Nothing else on the LSE. A company called EON Reality announced a NASDAQ IPO via SPAC in April though;

https://www.marketwatch.com/amp/story/arogo-capital-acquisition-spac-combining-with-eon-reality-271650973636

$655m valuation but frustratingly they’ve not released any financial details yet.

They are mentioned in the original VR Education admission doc as being the most comparable competitor at that point in time (early 2018).

I think the pricing info they disclose is quite interesting; https://eonreality.com/platform/enterprise-pricing/

Will keep an eye out for them filing an S4 which will contain all of the commercial info.

They seem more focused on training & knowledge than creating a professional metaverse though, so whilst they are a competitor they aren’t positioned in the same way as ENGAGE and I’m doubtful they’ll be GDPR compliant & ISO accredited.

Nice spot. All the signs are that ENGAGE is being adopted by many different companies / industries. Fingers crossed for a positive trading update this month…

I'd imagine that's what they've committed to spend over the next few years, there haven't been final investment decisions yet though so revenue has been locked in for OEM's?