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Water Intelligence looks very murky

07/02/2019 · Water Intelligence (WATR) 

AIM Small Caps UK

Water springing from a leaking pipe
We struggle to understand how this US centric business has ended up on AIM and there are plenty of red flags to worry shareholders. Plus, the valuation looks totally bonkers.

Water Intelligence (WATR), calls itself “a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water”. Hardly a catchy title but then leak detection is never going to be glamorous. Its services are conducted through a wholly owned subsidiary American Leak Detection, which was established in 1974 and largely operates through a franchise model.

For the last full year ending December 2017, WATR generated revenue of a mere $17.6m…

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