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.

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."

"CAPITAL REDUCTION - As the Company's current share price is below its nominal value, the board has convened an Extraordinary General Meeting, to be held on 5 June 2009, to consider resolutions that would rebase the nominal value to GBP0.001 per share. Terms: Each Ordinary Share of GBP0.01 will reduce in nominal value to GBP0.001."

gurgle gurgle slowly going down Prescott's plughole!!

Well, I now have 1 million shares after restructuring (my first million shareholding) and the value is approx 400! What a joke!

Trading Update
The Directors of Qonnectis (AIM: QTI), the data monitoring service provider for utilities and users of energy and water, note the recent share price movement and confirm that the Company is still in discussions with a number of entities which could lead to additional funding for the Company.

However, in the absence of these funding options being secured, the directors believe the Company will have insufficient funds to continue to trade."

Letter of Intent Signed with Primary Water
"The Board of Qonnectis plc ('Qonnectis'), the data monitoring service provider for utilities and users of energy and water, announces that it has signed a letter of intent with Primary Water PLC ('Primary Water') under which Primary Water will be able to evaluate Qonnectis products and commence trials with a view to progressing business plans and proposals for the distribution of Qonnectis products into various territories.

It is expected that a three year distribution agreement will be signed giving Primary Water exclusivity to distribute Qonnectis products into Australia and Russia, and all other countries worldwide excluding the UK, Ireland and China on a non-exclusive basis. The distribution agreement will be subject to minimum sales volumes and will include joint funding of specific product development.

During the evaluation phase Qonnectis will receive a fee for providing the test units. All data generated by Primary Water will be shared with Qonnectis whilst the intellectual property rights remain with Qonnectis.

The agreement covers the Leak Frog, Swift, MyMeter technologies and associated products"

Last throw of the dice?

"and will include joint funding of specific product development."
I thought QTI were broke, so presumably they will either go to the bank or to us shareholders cap in hand again!

Suspension in trading
"Further to the announcement of 3 July 2009, the Company reports that its attempts to raise additional funding have not proved successful. Accordingly, given the very limited cash balances, the Directors have requested an immediate suspension in the trading of the Company's shares pending clarification of the Company's financial position.

A further announcement will be made in due course."

http://www.moneyam.com/InvestorsRoom/posts.php?tid=14307&from=1&to=500

Grow up tescoma.

HC
truly sorry to see your 1 mil has come to this. might prove to be a phoenix, i do hope so for you,
kind regards
jkd

Thanks for your concern jkd, but fortunately it is only a small exposure to this dog & hopefully I can write off the debt against capital gains at the end of the tax year (I hope)!!!

11.01.10
Qonnectis relisting awaits reverse takeover
Business Financial Newswire
"Suspended AIM company Qonnectis reported an operating loss of 0.29m in its second interim results for the six months to 30 June.

The company's accounting reference date changed to 31 December, resulting in an 18-month accounting period.

Total loss for the 12-month period to 30 June was 0.69m, versus the previous loss of 3.73m.

Post period-end the company, a data-monitoring service provider for utilities and major commercial users of energy and water, announced a 0.395m fund-raising in contemplation of a reverse takeover by American Leak Detection, Inc.

ALD chairman Patrick DeSouza and CEO Stanford Berenbaum were appointed as non-executive directors. AIM trading will remain suspended pending publication of an admission document in respect of the proposed acquisition.

Chairman Harry Offer said, 'After a difficult year, we are delighted to have secured sufficient funds for our immediate working capital requirements.

'We are now working extremely hard to ensure that the proposed acquisition of American Leak Detection, Inc. is completed and we look forward to working with Patrick DeSouza and Stanford Berenbaum to build the business of the enlarged group.'

Revenues from Leakfrog, which the company developed with Thames Water, continued during the period but did not increase sufficiently, leaving the company's finances stretched.

Qonnectis generated revenue of 32,245, making a total for the 12-month period of 52,931, previously 0.46m."