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.

Interims will be out before end March.

INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2007

Period of continued growth

Qonnectis plc ('the Company'), the data monitoring service provider for
utilities and major commercial users of energy and water, announces its results
for the six months ended 31 December 2007, a period of continued growth.

Highlights:


Sales increased 81% to 291,281
Gross margins maintained
Operating loss reduced to 197,168 (2007: 380,098)
Leakfrog (R) domestic monitor launched
o Major order from Thames Water
o Significant new orders post period

Michael Tapia, Chief Executive of Qonnectis, commented:

'Repeat and new sales of the Qonnectis Smart Metering products have continued
and, since the period end, further significant progress has been made with the
Company receiving orders for Leakfrog (R) from South West Water and Three
Valleys Water.

'By applying increasing resources to both the selling and volume delivery of our
products, the Board expects continued rapid growth in the business.'

"continued rapid growth in the business.".............That has got to be stretching the truth a little bit & the share price certainly doesn't reflect that. Hopefully rapid growth to come soon, imo.

An 81% increase in sales, maintained gross margin and a significant move towards profitability all look pretty good to me.

Get your buying boots on, anything sub 1p, is a bargain.

"LONDON (Thomson Financial) - Qonnectis ran back 19 percent -- or 0.30 of a penny to 1.25 -- after the data monitoring service provider for utilities and users of energy and water raised 1.25 million pounds via a placing at 1 penny a share with certain institutional and other investors.

The board has also granted FinnCap, which arranged the placing, an option to subscribe around 2 percent of the enlarged equity. Qonnectis will also issue a further 25 million shares to Security Change as final settlement of the company's obligations under a convertible loan."

Looks like cashflow problems... heavy dilution.

Not a good day for this one today! And it wasn't long ago I was in profit... Won't stand and wait to cash in next time - if and when that is.

Sold enough of these at 2.7+ to reduce my average to well below the present sp. I was expecting more cash raising at some stage but the amount raised/dilution was a bit of a surprise - let's hope this will be enough to see them through to breakeven, which I reckon will happen next year.

This company has gone very quiet! Seems that the 'continued rapid growth' has come to nought. In fact inflation is going up faster than this shareprice. Must be contender for the best underperformer of the year.

Yes - dire! I did get out some time ago; thoroughly disillusioned and have since been a lot more careful of the 'minnows', taking heed of Cynic's and others' advice here.

Trading Update


Following the year end at 30th June 2008 the Board of Qonnectis is pleased to provide shareholders with an update of progress in the period.


The Company has maintained its track record of significant revenue growth compared with previous financial years and continues to secure new customers for its developing product range. Trial quantities of Leakfrogs have been supplied to two more UK water companies and Leakfrog has also been successfully deployed, to date in relatively low volumes, on a leak management programme in Ireland. Qonnectis loggers have also been installed for multi utility monitoring within a substantial housing association.


A number of small orders have been received from Halma under the Memorandum of Understanding signed in February, however the distribution agreement has not been finalised. The Company has also been considering other distributors with a greater level of international coverage.


In April a placing raised 1.25 million and this has put the company on a sound financial footing to effectively exploit its potential in the markets in which it operates and to continue the evolution of its products.


The focus on utility conservation and increased efficiency is stronger than ever with the recent increases in utility prices. Qonnectis remains the one company which concentrates its efforts primarily on the water sector and, most importantly, has its own in house developed IP technology. It is increasingly likely that compulsory water metering will become more widespread, particularly after April 2010 and this bodes well for the Company's prospects.


The Company plans to release it preliminary announcement of the results for the year ended 30 June 2008, in mid November 2008.

what's with these today up 52% atm?
someone been tipping these?
Alex

It would appear that there is news on the way of renewed orders and a govt, backed incentive to drive water metering countrywide.

There are also two other utillity companies interested in leakfrog.

Could be the start of a new upside on QTI. IMHO DYOR.

The recent down/up price movement seems to have been caused by the forecast of a loss in the current FY of 350k+ by the cos broker followed by the addition of Leakfrog to Halma's website.

"Due to the current ill health of Chief Executive Michael Tapia the Board announces that Guy Chant, currently a Non Executive Director of the Company will act as interim Chief Executive with immediate effect during this period.
Guy has had extensive experience within the European utilities industry, at both senior management and Board levels. Between 1994 and 1999 he was Managing Director of Thames Municipal Products Ltd ('TMP'). Between 2000 and 2004 he was Commercial Director of Thames Water Utilities Ltd and External Affairs Director of Thames Water plc. More recently, Guy was Executive Director at Berlinwasser Holding AG (a joint venture between Land Berlin, RWE/Thames Water ('RWE') and Veolia Environnement S.A.), the main water utility serving the city of Berlin.

The Board is pleased to announce that Barbara Spurrier has been appointed finance director with immediate effect.
Barbara is a qualified certified accountant with over 25 years experience in financial and accountancy roles. She is a founder and Director of Cambridge Equity Partners Ltd., a consultancy business focussing on corporate finance projects, where she has worked with numerous companies to develop strategic business plans and objectives. Barbara has experience in assisting companies to secure capital from institutions and private investors in order to facilitate expansion and development, and has undertaken full business reviews to identify and provide action on key issues.

As previously announced the Company expects to release its preliminary announcement of the results for the year ended 30 June 2008, in November 2008.

In accordance with Schedule Two, paragraph (g) of the AIM Rules for Companies, the following information in relation to the appointment of Barbara Spurrier to the Board is disclosed:

Full name: Barbara Joyce Spurrier

Previous names: Barbara Joyce Huxley-Parlour

Barbara Joyce Gagg

Age: 52
Barbara Spurrier currently holds or has held the following directorships and partnerships in the last five years.
Current Directorships and Partnerships
Directorships held in the last five years

Cambridge Equity Partners Ltd.
CBIOS Ltd.
Cambridge Financial Partners LLP
Cellexus Biosystems Inc.
Cellexus Biosystems Plc.
DCM Incontrol Ltd.
Fair 2 U Ltd.
Freshbourne Ltd
OxLoc Ltd.
Renewable Energy fuels Worldwide Ltd.
Rototek Ltd
SG32 Ltd
Stribbons Ltd.
TDLP Associates Ltd.


Barbara Spurrier has been a director of the following:
Cellexus Biosystems Plc which was put into administrative receivership on 3 March 2008.
Strathcarron Sports Cars plc which was put into voluntary creditors liquidation on 21 November 2001 with an estimated deficiency as regards creditors of 2,633,000.
J. A. Gagg & Sons Limited which became insolvent under receivership rule 3.32 and was dissolved on 18 November 1997"

So the new finance director has been on the board of more companies than I have had hot dinners, has been directly involved in the demise of three of them & apparently divorced twice. Is that really the best QTI can do? What a joke!

She certainly seems to be familiar with "drains".

Another nightmare!!!!!
"MoneyAM
Data monitoring provider, Qonnectis says that sales for the six months to 31 December 2008 were materially lower than in the corresponding period of the previous financial year.

Accordingly, results for the current financial year are likely to fall significantly below market expectations.

The share price was marked down 14% post the announcement. (Now down 35%)

Qonnectis says the the principal reason for the sales shortfall is that last year's first half figures included delivery of a major order which has not been repeated. "

Bloody awful!! This company should be doing well, looks like the knackers yard is beckoning though!

Qonnectis plc ('the Company'), the data monitoring service provider for utilities and major commercial users of energy and water, announces its results for the six months ended 31 December 2008.

Highlights:

Leakfrog orders delayed
New product derivatives developed and ready for sale
Order book building post period
New enhancement of logger product ready for launch
Turnover 20,686 (2007: 291,281)
Operating loss 405,806 (2007: 197,168)
Loss per share 0.10p (2007: 0.10p)
Cash balance at period end: 304,532

Barbara Spurrier, Chief Executive of Qonnectis, commented:
'The 6 months to December proved very disappointing in terms of sales. However in the current period, the sales order book is being steadily re-built and the longer term prospects are promising.

'We have been implementing tight cash management and, following the enhancement of our excellent product range, we are working towards recovering our market position. As a result we are optimistic that turnover will increase in the second half of this year and continue to rise next year.

'Discussions are under way for additional finance to fund the working capital. The management is currently being restructured. As part of this Harry Offer, who joined the Board in January 2009 as a Non-Executive Director, is to become Non Executive Chairman and Richard M Taylor is to retire from this position. We would like to thank Richard for his encouragement, support and guidance to Qonnectis over the years as both a private company and as a public company."