WATER WATER EVERYWHERE !

WATER INTELLIGENCE WATR.L
http://www.waterintelligence.co.uk

mid price 48p
shares in issue 9.64m
market cap £4.7m

I came across this very small company recently and it looked like it may be an interesting proposition for investment.I would welcome any comments regarding the company from holders or otherwise.

Water Intelligence describes itself as "leading environmental services and technology company focused on detecting, finding and remediating water leaks."
I doubt anyone would disagree that water is an invaluable resource and thats where my interest in this company began.
Water intelligence was formed with the reverse takeover of qonnectis by american leak detection in 2010. Qonnectis was a loss making company near collapse before the takeover but i understand ADL were looking over qonnectis for a few months to use their technology.

The company currently has 3 divisions comprising of
1. American leak detection - which is the largest of the divisions and is the companies bread and butter operations. It is americas only mationwide leak detection company.It finds and repairs leaks using non-invasive technology(ouch) using the latest electronic equipment.The advantages are that this is time saving and creates less damage during repair. In fact the company's slogan is "leak detection without destruction".

2. qonnectis - This division describes itself as providing managed services to water and utility companies. It is involved in data monitoring, data analysis and storage. Smart metering seems to be a growth area and the company uses this technology to serve its customers. Current customers include thames water, scottish water, London fire brigade and NHS hospitals. This division claims that it can save 5-15% through monitoring. Currently "leakfrog" is its latest offering for water companies wishing to monitor their customers for leaks and could provide the further growth that the company is after. more details on its website http://www.waterintelligence.co.uk/the-qonnectis-network/.

3.target leak detection - the website says that the uk office is closed which initially seems a concern. In the year end 2012 there is no mention of target leak detection but reference is made to Water Intelligence concentrating efforts to grow its american arm so it looks like this part of the business is shelfed for now. I am awaiting a definitive response from the company…

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