Trakm8 Share Discussion Threads

[pj 1] 30/7/2024 07:29

Was it Cineworld that was recently sold for £1?

[dave2608] 29/7/2024 20:19

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?

[dave2608] 29/7/2024 20:05

£1, I'd imagine would be considerably closer to their actual value than £23,828,000.

[dave2608] 29/7/2024 19:10

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?

[knowbodyyouno] 29/7/2024 16:15

How can the financial position of insolvency get worse? What is worse?

[arthur_lame_stocks] 29/7/2024 16:10

I'm not an accountant but as far as I can see TRAK are technically insolvent and the financial position is getting worse.

[dave2608] 29/7/2024 15:36

Anyone know what colour JFW is dying his hair these days?

[knowbodyyouno] 29/7/2024 15:17

aren't*
and
reins*

[knowbodyyouno] 29/7/2024 15:14

aren't*
and
reins*

[knowbodyyouno] 29/7/2024 15:13

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

[smithie6] 29/7/2024 08:36

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).

[dave2608] 29/4/2024 10:19

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.

[orange1] 29/4/2024 09:38

Yep - not dying your hair is definitely the mark of a true leader and the reason why Pep will win the Premier League and Jurgen won't.

[6jacko] 19/4/2024 16:20

Had a rest from this chat as i just got totally dismayed by it all. Nothing changed at all in time I've been away, Watkins clan still creaming it to afford the new ranges and Ferraris that keep coming every year and still equally as arrogant and clueless. The old man just wont stop dying his hair and pretending he is still current and knows how to run a business which he clearly dosnt. Some good people on board but I'm told they are puppets with no say or influence as its Watkins way or the high way. Interesting to see Insurance holding its own but fleet going down in connections and churn- the Monkey is really running the Zoo in that area. Lots of lost opportunities' and churn as big fleet customers moving to other telematics players, still working in the industry, Trak are not seeing as competition at all on both telematics and optimization and are seen as a company waiting to go down or be bought out.

[mrtickleuk] 19/4/2024 08:19

Oh yes sure. Credit to the brave, brilliant, expert directors! Nothing can go wrong!

[smithie6] 18/4/2024 19:18

..juicy interest rate
but !
the company is in very difficult times, so interest rates are higher to reflect the risk of never getting the money back !

Does the co. have nett TAV to g'tee that these brave lenders will get their money back if the co. goes in to administration ?

At most listed companies I don't think the directors put up their own cash to try to save it. Instead many will just put in their notice & walk away. So, credit I think to these dirs for putting in their own cash to try to save the company.

[dave2608] 03/4/2024 19:28

They are prepared to pay 18% interest on 900k worth of CLNs and additionally as a consequence £1,580,000 of CLNs issued on 13 September 2022 are to be jacked up to 18% interest? That's some additional interest they are going to be paying. And it looks like a large chunk of this interest is going to be paid to erm......the directors. Also, nice how you can change the terms of the Sept 22 deal isn't it? And that's not just the interest rate; The convertable price too. But all of this allowed them to pay 500k for the rights to use certain ip from Action 365 plus provide 400k towards working capital. What's so special about Action 365s ip that they are prepared to incur all this additional expense? Very little at a guess. It's most likely a smokescreen.

What the hell is going on? I suspect jiggery pokery. They've just engineered another way to keep this sh*t show on the road and to make the headline figures look better, albeit in the sort term. Nice juicy interest rate for some of the directors too!!

All this IMO of course.

[whoppy] 25/3/2024 11:41

So does anyone have a trakm8 black box fitted to their car and how much cheaper is the pay as you go insurance? How much is it per mile?

[andre] 25/3/2024 11:19

Insurance is never going to pick up. Insurance companies have used the black box carrot to get the new young customers on board but haven't taken usage seriously. Just a way to entice customers. Customers now jump around the black box companies with no loyalty.

So insurance companies have 'developed' app based tracking which uses the customers mobiles to 'track' their vehicle usage. These often come with option to 'switch off' the app if you are a passenger and not a driver (so it doesn't impact your score). I wonder how honestly young drivers use this option. Especially as threats of cancelling their insurance for speeding or bad driving are also a part of the app. (Frankly, none of this is anything to do with encouraging better driving... just getting new customers at rip off rates).

The upshot being that insurance doesn't need tracking companies to pull the same con that insurance tracking was created for. They do it themselves at no cost.

Insurance tracking is dead. Quartix and others jumped off this bandwagon ages ago. Trak is left depending on a dead market.

All IMHO.

[smithie6] 25/3/2024 11:19

Microlise has ~£17 nett cash & it's turnover has ~12% organic growth.

So, if they wanted to they could buy TRAK, but does TRAK have any IT products that Microlise would really want ?
Noting that Microlise is growing turnover while TRAK is seeing reduced turnover.
The production capability might be useful for Microlise to own. But I assume it is much cheaper to get production done in India where Microlise has some presence. (But perhaps some questions about quality etc).