Tiny Qonnectis is at present in an embryonic stage, but seems to have an interesting product with great potential. Their flagship product connects energy and water meters to the Internet via Qonnectis' own server and users' website, providing 24-hour real-time accessibility as well as the opportunity for instant data comparison and updates as frequently as every 15 minutes. This avoids the costs of traditional meter-reading methods (i.e. reading by eye or the more recent "drive-by" technology). The new technology has already saved one early customer a reported 180,000 after it spotted a water leak and alerted the user. Early adopters include utilities such as Scottish Water and Generale des Eaux Lyon, plus public sector clients such as the NHS, the RAF and various District Councils (the list is numerous, so please see QTI's press releases for the whole picture). In November 2005 QTI announced a distribution deal with Compteurs Farnier of France, providing potential access to the USA and Canada in addition to the French market.

The business case for QTI seems strong: the product is inexpensive and provides cost savings both in terms of labour-saving and of cutting wastage. Sales include an element of subscription on a five-year basis; it seems logical that satisfied customers will both increase their number of meters in use and come back for further subscriptions after the five-year period has elapsed. The potential market is huge. The real question is, when will QTI achieve break-even?

CEO Mike Tapia previously built up the Talisman remote/drive-by meter-reading business, which was then sold to Severn Trent Water Co around 1997.

Does anyone have any figures on the Talisman sale, or perhaps on Compteurs Farnier? It would be good to get some idea of the current market.


EDIT: New charts added, 21Dec2007.

Yes - another 50k were subsequently traded at 1.1p. The 3m bought yesterday must have been significant.

URGENT!

Anybody been contacted by a New York company offering huge sums for QTI shares? Details to be forwarded by e-mail.
Could be a scam as a 'bond' is necessary to insure the transaction???
They claim to have a large number of shareholders on board already and those that don't will be left with a valueless shell???

Sounds like a scam. Buyer this morning at 1.25p

Turns out it is a well known scam. Your contribution to the 'bond' is only a fraction of the promised proceeds... but many times the actual worth of the shares. The deal then 'falls through' and you forfeit your bond contribution.
Puzzle is the firm appears to be well established.

Steady small scale buying at present. The mms don't seem to be in any hurry to narrow the spread.

So, who is the firm operating the scam? If we know who it is, we can avoid them.

Have to be a bit careful until I have proof. But rest assured that if you get contacted by an Asian(?) Gentleman claiming to be in New York, you will be in no doubt!

Harry, generally anyone who phones at random, especially from abroad, and offers lurid-sounding deals is thought to be on the make.

However, if you're holding the stock on a nominee account rather than certificates then you should be protected anyway, as your name won't be on the shareholders' register and no-one will know your contact details.

500k shares sold at 0.75p - so the spread is effectively now 0.75/1.25p.

That's a bit scary, soult!!! How do you know I hold in nominee a/c? You wouldn't be an Oriental chap based in New York by any chance? :o)
But, fear not. I am a saleman's worse nightmare when it comes to buying anything over the phone, so I shan't be duped!

I have my sources, Harry :o)

QTI (as IPH) is one of the few penny shares I hold outside nominee a/c. Hence the contact, I suppose. Not heard a thing since, by the way.

It gets quite funny if it wasn't potentially so serious. Offer 1000x share value. Bond contribution required to participate 33x share value. Guarantor is also the Offerer's agent... bound by US law concerning funds held outside the US!!!
More info on ADVFN's MTM site where others are being similarly targeted.

From today's AGM statement:

Richard M Taylor, the Chairman, made the following comments:

'As part of our increased focus on the commercialisation of our products we
appointed Michael Merrick as Sales Director of our main trading subsidiary,
Qonnectis Networks Ltd, at the end of 2006. Michael, who joined Qonnectis in
January 2006, has been instrumental in the Company's continued expansion in the
water and energy sectors and through his extensive industry contacts has already
proven to be an invaluable addition to the Qonnectis team.

'We announced at the beginning of last month that trading since the year end has
been encouraging. A further update will be provided in the 2007 Interim Results,
which are due to be announced in March.

'We have recently moved to new premises, which will support the Company's
growth, and we believe we are now well placed to build on our success to date
and to maximise the opportunities presented to us through increasing regulatory
and market pressures for greater environmental awareness.'

The Company's new address is: Europe House, 170 Windmill Road West,
Sunbury-on-Thames, Middlesex, TW16 7HB.

Okay, so we're now one month into H2, H1 looks "encouraging", results due in March.

The sales director bit sounds good too - presumably he is working hard to justify his appointment.

Patience and time, that's all this needs . . .

And a hell of a number of contracts, new, small and big ones!!!!!!!!!

QTI has come up on my radar as a potential recovery stock, so have read all the details. Seems to me this is very much the right product at the right time and should do well if and when the management sort themselves out, so worth a punt. Selftrade are offering at 1.00p within horrific spread so have placed limit order for 250k @ 0.9 and will see what happens. (Hope it wasn't me that depressed the price).
sd.

Squidd, it was you that depressed the price and you're a very naughty boy :o)

Welcome aboard anyway, and hope you managed to get the stock at the price you were after.

My limit buy order @ 0.9p was not filled on Friday, so I'm not yet a holder of QTI. With this huge spread it seems the mm's don't want to trade and it's not clear whether we are seeing the bottom or just a new low: I don't find the chart very helpful on this point and the owls who waken me at this time of the morning don't seem to know either.
Google has thown up a lot of stuff about "remote meter readings" which I've been browsing, though so far without any direction. I'll add some views when I've digested more.
sd.

Final on SCAM. Firm is Jacobs and Burns, prime pusher, Marcus James. Having initially been rather persistent, with all sorts of legalistic jargon to convince me of their integrity, as soon as I started asking a few awkward questions, they went away in hurry!! They are now getting plenty of adverse publicity.

Meantime, nice to see a newcomer or two recognizing the latent potential of this company which some of us saw at ten times the sp!!!