Maybe a director might buy a few now. If they're not buying at these levels then it's surely Donald Ducked |
"Contrary to the Board's expectations..."
But not anyone else's. |
"Contrary to the Board's expectations..."
Management miss. |
£14.4m of turnover expected.....& a good % is recurring...
and yet a cap. value of only around £2m
Could the company not be sold to a competitor ?
if remove the bod & the listed company costs ...& perhaps close the worst parts of the co. are the good bits worth much to a competitor ?
(Oh, and remove John Watkins) |
Yes Trak are still limping along. Quite amazing really. Maybe they are very good at the art of extend and pretend? I'd be very, very surprised if there's any long term good news here. I just can't see it but what do I know? |
Well, I have to say I agreed with you back in Dec, Dave - didn't see how this could limp over the March 31 line - no without more cash injected. However, they've since signed 3 new contracts - including a 3-year one announced today (albeit with an existing co)
hxxps://www.trakm8.com/news/stark-uk-expands-partnership-with-trakm8-fleet-management/
and the sales director seems to be recruiting for FY26:
hxxps://www.linkedin.com/posts/joe-heidari-75509897_standby-activity-7299805313254187009-N6R0/?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAWdOJsBbs9qEQ3tM0WIGHldSiTIcXF93uI
How they've done it is another matter - and obviously they could issue another potentially diluting CLN but does seem to be pressing on.
GLA |
Let's face it, this company looks like it's finally going. It could be any day now. I'd be very, very suprised if they make it to the end of March 25. |
How much are the running costs of being on AIM? Well the core, that's core running costs are a minimum of £200,000 according to this 2019 article. Add in inflation and look at these costs as a percentage of the current market cap (£2.25million) and perhaps you have to ask if it's worth TRAK being on AIM. |
Awful results, company just isn't viable at this size. |
...I'm surprised the new partner/investor over the last 2 years doesnt step in & take over ....or at least replace the execs.
..otherwise it just seems like a slow painful death for this co. under the existing execs. |
Was it Cineworld that was recently sold for £1? |
In fact the more I think about it, £1 isn't a bad shout. I mean who exactly would want to buy Trak's intellectual capital and goodwill? |
£1, I'd imagine would be considerably closer to their actual value than £23,828,000. |
Technically insolvent.
If a company has a negative net asset value; its liabilities are greater than its assets.
CURRENT ASSETS LESS CURRENT LIABILITIES - (£3,393,000)
TOTAL ASSETS LESS CURRENT LIABILITIES - £24,069,000
£23,828,000 worth of intangibles in the total assets. How much are they actually worth? |
How can the financial position of insolvency get worse? What is worse? |
I'm not an accountant but as far as I can see TRAK are technically insolvent and the financial position is getting worse. |
Anyone know what colour JFW is dying his hair these days? |
aren't*
and
reins* |
aren't*
and
reins* |
I don't know why they cling to the insurance insurance division - it hasn't made money in a decade. Fleet / optimisation are their only hope. QTX (not perfect by any means) has reported quite respectable results today. Micro is another example of success in the fleet / optimisation space. Surprised Micro are agitating for change at the top - they basically own Trakm8 now. Must be embarrassing, every time Trakm8's stain shows up on their accounts. Come on JFW, time to hand over the reigns.
GLA |
turnover notably down.
------
is it time for a new boss ?
this boss has had enough years imo to try to deliver & it clearly is not happening.
Perhaps let someone else try ?
----
And sorry, but for me the number of staff is too high for the low turnover.
With the new fall in turnover it looks to me like another round of cost cutting is needed or get the turnover markedly up (& I have little confidence in that notably reversing). |
Bloody hell, he's had his fingers in some pies. I see a fair few of the companies are now dissolved. Without delving further, I bet the comapanies where his company status is active are shells. |
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