T42 Iot Tracking Solutions Share Discussion Threads

[nick2412] 14/9/2022 11:24

It's a justification of the unjustifiable Bapodra rather than an apology. I find these sorts of discussions tedious, so won't make any further comments.

Firstly, you wrote "I have no evidence apart from something you have posted on ADFVN on this thread so for now I will have to discount that information as I have no evidence it is credible or accurate." So you questioned my honesty, and that was very offensive.

Secondly, you wrote, "If you had not shared that informed which you were not obliged to then as an investor one would simply not know"

That's a bizarre point as a) why would you not want to know and b) my post providing the information was in response to your post asking if anyone knew if TRAC was still in breach of the banking covenant!

You asked earlier on the thread: "Can someone please be kind enough to share 'credible' information on the banking covenant issue please. I may contact the company myself with regards to this."

I had the information direct from the Company CFO via email, which I posted word for word in direct response to your request.

I was providing the information you specifically sought, and rather than question my honesty, you could either of accepted it with thanks or contacted the CFO privately to check for yourself. If you hadn't asked, I wouldn't have posted.

The most useful (and frequently rare) threads on ADVFN provide an exchange of useful and factual information. You seem to take exception to that, which is odd.

Enough said, and I won't be replying or commenting anymore as there are far more interesting takes on the results to discuss. I've already used up my annual capacity for boredom in bothering to reply and explain the obvious. Good luck.

[nick2412] 14/9/2022 09:51

They have retained their legacy revenues reasonably well but presumably, these will continue to diminish. They need funding and some material (not token) contracts from DHL or Philip Morris. It's chicken and egg because these types of companies are unlikely to give sizeable contracts until TRAC sorts out its balance sheet.

TRAC has made it clear in previous announcements that revenues from the distributorships won't be meaningful until 2023. There's always a takeover possibility, but I won't be back in until they do a funding (not a death spiral CLN one either) that takes them securely well into 2023.

I couldn't see a reference in the notes to a breach in their banking covenants this time, so if they have resolved that issue, then that's a positive.

Edit:- Bapodra, I have just read your post. I initially ticked up your post until I read you were questioning my word. You are entitled to that view, just as I am increasingly taking a view on your personality and the number of spats you get involved in.

It's a fact that TRAC was in breach of their banking covenant (it was in the previous results announcement notes). It's also a fact that I received an email, with the date as stated in my post, from the CFO saying they remained in breach but were discussing a solution. I assume that's not the case anymore as TRAC haven't referenced it. I suggest you contact the Company who will verify that at the time that I stated, TRAC were still in breach. I hope you will do that, and I will await your apology.

From my original post, which quotes the email reply from the CFO word for word without changing the broken English:-

From the CFO, Igor Vatenmacher to me via email on 5th July:-

"As we updated, we were in breaching of financial covenants with the bank and we still under negotiation to find mutual proper solution as we had done before."

[dave4545] 14/9/2022 08:40

The volumes to knock this stock down are crazy.

It's meant to be a £5 mil stock and the mm's are crashing it 10% down on just £5k of sales

I thought the results were ok, obviously not earth shattering

[madmonkflin] 06/9/2022 13:35

Desperate for some news on orders....

[nick2412] 05/9/2022 12:18

Bapodra Investments:

From the CFO, Igor Vatenmacher to me via email on 5th July:-

"As we updated, we were in breaching of financial covenants with the bank and we still under negotiation to find mutual proper solution as we had done before."


I did email back with further queries but didn't hear back. There's been no update since that mentions the issue has been resolved. They will be obliged to update on all financials, including this issue with the results, which should come soon.

TRAC promise a lot, including supplying what was called Lokies (smart locks) for the Russian railroad. If one of these tantalising big-name 'potential/ deals ever comes off, it will transform the Company and share price. It only takes one, whether it's DHL, United Nations, Philip Morris etc. But there is a theme that all these big names are flagged up, and over the years, whether it be Starcom or TRAC, not one has come off.

I don't think a multinational will deal with a nanocap Company in breach of banking covenants. Hence, TRAC needs to sort their finances out as a priority as a precursor to getting big-name substantive orders.

The colossal figures are thrown around with unknown distributors, and all the big names bandied around that never commit to substantial orders suggest TRAC are big on hype and poor on delivery. It's not quite as black and white as that, though, as the products appear first-rate, as the DHL competition award highlighted.

[madmonkflin] 31/8/2022 16:30

aren't the results overdue?

[nick2412] 31/8/2022 11:26

All about the financial results, Bapodra. The financials will be dire with the Company still in breach of their banking covenant. The share price can still move forward, however, if they accompany the results with a decent size contract, and they could even raise funds at a sizeable premium to the current price. Too risky for me though until they get their balance sheet sorted.

Raising funds for orders based on solid contracts won't be a problem. Raising funds on the back of hyped distributorship agreements to mysterious unknown parties will be a much harder task and, almost inevitably, will be heavily discounted unless the directors cough up a significant chunk of the funds needed.

[dave4545] 30/8/2022 16:05

Bought back a few today thanks to that big seller at 10.6p last week

[dancing piranha] 26/8/2022 21:41

Bap dumped his holding folks?

[nick2412] 19/8/2022 15:07

Please don't be over-sensitive Bapodra. There are trolls everywhere, and they get a kick out of receiving attention and upsetting people. Ignoring rather than indulging is what they least like so I suggest doing what they least like. Why would I ban you? This is getting a bit silly, to be frank. Ultimately it's pixels on a free bulletin board with the occasional interesting post. It's certainly not worth getting worked up about it.

[nick2412] 19/8/2022 11:16

Bapodra, I can't ban them but I'd rather DP and TT discuss the share rather than indulge in personal spats. It happens a lot online, and it's a bit childish and can come across as bullying. I doubt if they would do it to your face.

A good approach, in general, is just to post (even if you disagree on any share) as you would do if you were having a civil conversation with someone. All a bit unnecessary but please just use the filter button as you have done.

[dancing piranha] 18/8/2022 20:11

He needs banning for sure.... lol