Trakm8 Share Discussion Threads

[elrico] 14/4/2018 10:51

PJ - I have been known to climb a few "steps" to watch Iron Maiden. Manchester Arena has quite a few. ;)

[ftsestocks] 14/4/2018 01:03

My intrepretation of Trakm8's numbers was that results for 2017 are not good. In particular, cash flow generation was of great concern to me. At the same time, this is a company that does have a rapidly expanding user base. It could be a case that this is foregoing profits today, to invest for the future.

hxxps://ftsestocks.blogspot.co.uk/2018/04/trakm8-holdings-13-april-2018.html

[pj 1] 13/4/2018 21:24

Somehow I find it impossible to believe that Paul Scott would attend an Iron Maiden concert.

Or that Elrico would attend a Steps concert.

[she-ra] 13/4/2018 16:48

Apologies to you both.

[elrico] 13/4/2018 16:25

She-ra - and what shares are these then? I have no idea where Paul Scott is invested, I don't subscribe to Stockopedia, and as far as I'm aware, he is not invested in any of the companies I'm invested it. I do know they are NOT within his criteria as they are NOT YET profitable and don't pay a divi...trying hard not to laugh at the irony here, which I'm sure is lost on you. My vehicle is a modest 16 plate Astra. You see, I don't pretend to be someone I am not. My name is not Walter Mitty, it's Elric. Now do some detective work and report back with an apology....if you have the moral courage - HIGHLY DOUBTFUL. If you doubt me, then ask PJ1.

To help you with the holy grail for the truth, I have included a couple of links (click bait in dc2 speak)to help you on your merry way in seek of the truth.

Me:

Paul Scott:

Ignore the followers stats....I think they're the wrong ways about. ;)

Good luck with your quest. :)

[she-ra] 13/4/2018 15:56

elrico - You seem to be interested in the same shares. DO you expect me to call the FCA and ask for them to find some proof? There are limitations but you also both appear to have owned an Aston Martin.

[elrico] 13/4/2018 15:15

She ra - If you're going to make statements like myself and Paul Scott are one and the same, you should at least back that up with some evidence to support it! Most people know me for who I am, though I confess you are not the first or the last to accuse me of being somebody else..... Proof of such childish conspiracies would be an advantage - They never arrive, so cheap shots are all they amount too. Now young lady...do you have a point to make or do you want to throw another mud-ball!

Given today's debacle, the chances of me actually taking the plunge this side of 70p are right up there with me ever accumulating £2m. Going short is more likely, but given my golden rule never to short a company that has NOT COMMITTED FRAUD, it seems this is also unlikely.

I think the worse can be said about TRAK is it has questionable accountants, whom perhaps overstated their qualifications, because on the face of the restated accounts and now the technical breach, i.e paying a divi when it patently did not have the reserves to do so, is mind-boggling incompetent. Surely you realise this!!

Head & sand!

[she-ra] 13/4/2018 14:34

Not only did Paul Scott lose heavily on DX Group when as a trained accountant he should have understood the terrible accounts, he then has lost on Indigovision and Up Global Products. Told us all he had dumped French Connection only for them to make a recovery.


This guy has an agenda here. He knows this is an attractive company. Its when he telling a good story about one of his investments its time to get worried.

[dc2] 13/4/2018 14:04

Paul Scott's take on the update

hxxps://www.stockopedia.com/content/small-cap-value-report-fri-13-apr-2018-part-2-gmd-trak-mtc-soli-353033/

[dc2] 13/4/2018 13:39

Using some very questionable assumptions on my part. 250K devices giving a recurring income of £12m (rounded up for ease of maths) equates to an average of £4 per month per device. Data cost is probably less than £1. I assume the installations (and devices) are either paid upfront or DIY. There is no indication about the reliability of said devices i.e. maintenance costs.

Sounds a bit on the low side to me but I do not know whether this is due to the insurance based devices which are easy to produce and install. However, I do see the market trending in this direction (I have only seen the odd quote so have no solid evidence). I expect somebody who knows better than me will correct this post.

Also, happy to read that they are going to automate manufacturing a bit more (worried about the initial cost though). Again, I have no idea but I assume the costs of employing manufacturing staff is quite high relative to the number of devices they have added (34k devices added, so manufactured 130 per day plus stock). I know they were doing other work and my concern isn't about when they are adding devices, it is when they are not - staff still need to be paid.

[elrico] 13/4/2018 13:04

Is it just me then? Given the historical nature of restating the accounts....(or should I say, bullied into restating them by Paul Scott), the latest accounting "oversight" is no less worrying. "The accounts of the Company for the year ended 31 March 2016 did not show sufficient distributable reserves to permit the Relevant Distribution. Interim accounts prepared did show sufficient reserves to permit the payment of the Relevant Distribution, however due to an administrative oversight the Interim accounts were not filed at Companies House." The bears shorter version; it reported profits to appease II investors, which otherwise may have bailed, while actually accruing losses, not profits. A more cynical person would suggest this was known event, which is coming to light now. Leopards and spots...to be clear, I'm not accusing TRAK of anything naughty, I'm just suggesting it looks as though history is repeating itself. It's all very embarrassing for the bean counters and heads should roll for this.


I agree with PJ - A change of adviser often means a placing is not far away. If so, what for? And will the BOD need to pickup a few "cheap shares" while leaving the II begging. The cynics will argue FINNCAP pushed TRAK out the door and given the new NOMAD history, who could blame them!


I wonder how many PI's were expecting higher installations for TRAK's RoadHawk 600? 3000 don't seem a great deal to me. What are these "juicy margins." Does anyone know the margins for any of TRAK's products? I would have thought this was quite sensitive, hardly the sort of info the company would like it's competitors to know, so why does Blondeamon think they're "juicy?"

[blondeamon] 13/4/2018 10:26

34,000 new devices in 1 year!

AA is heating up with the Genie, Denmark went live last week and Austria is going live in the Summer. These are European market based Car genies sold for hefty prices, all with other companies' marketing and sales budget and TRAK having the Master Agreement as sole provider.

Add to that the RoadHawk 600 juicy margins and the new contracts and 2018 they'll be far ahead of expectations. Long term holder here and I keep adding, this is nothing but positive news.

P.S GBP/USD new 2 year high today, which means costs go down by at least 8% and margins go up by ~2% in this year and beyond. Everything points to a very successful year as all these devices have been paid for by TRAK already but the profits will show up in the new year.

[pj 1] 13/4/2018 10:04

she-ra. I take your point although 'losing interest' certainly not. Sceptical definitely.

[she-ra] 13/4/2018 10:00

PJ 1 - Well you hadn't posted for months. I suppose you were losing interest anyway.

[2breakout] 13/4/2018 08:15

ANOTHER blondeamon disaster story, buys CPR,GMD and this. How are you still investing, unless you are playing with TOY money.

[pj 1] 13/4/2018 08:15

Well, it looks a biased update to me, key figures omitted, change of advisor = fund raising?

Therefore, bearing in mind the previous history of the BoD I got out on the Bell.

Good luck to those holding.

[knowbodyyouno] 13/4/2018 08:10

I agree. Looking very positive for LTHs.

[blondeamon] 13/4/2018 07:58

35,000 new devices!! Quarter of a million now, 251,000 live recurring revenues devices.

This is the #1 metric to judge telematics companies.

Recurring revenues now at 11m, with 3000 Roadhawk devices live where margins are triple than usual devices.

New contracts we didn't know about plus the 2 I expect soon.

'The Group has continued to secure new contract wins and extensions, including new contracts with a global vehicle leasing company and Truline, part of the EVO Group of Companies, and an expanded contract with Scottish Power respectively.'


Perhaps the most important phrase in the whole RNS is :

To meet the anticipated demand for these devices from existing and new customers, the Group is planning to assemble these new hardware devices with increased levels of automation.


2018 is going to be on fire where all these devices just installed will break even and start contributing to profits.

[40toolong] 13/4/2018 07:57

Solid news, topping up!

[bhxian] 13/4/2018 07:42

Very pleasing Trading Update.

[bhxian] 13/4/2018 07:42

Very pleasing Trading Update.

[she-ra] 12/4/2018 19:00

There must be some massive order being filled here. I hope its a predator.

[elrico] 12/4/2018 18:34

dc2 - you're confusing me. You addressed my "original post" (2445) but you now appear to me talking about 2447. I think you need to be clearer when identifying a post. Perhaps you're referring to the "click bait" comment in post 2445 - "Can't help wonder how this will impact on?" If so, I think I expanded in post 2447. I may well be over cautious with regards what AA bring to the bank, time will tell.

I don't think we are arguing. Are we not having a debate! Blondeaman and She-ra may not like it so.

Blondeaman - I may add nothing in your World, fine, if as dc2 points out, you would rather not read opposing views or in my case, more queries than opposing an investment case. I have in the past demonstrated cash generation concerns well before the company was forced to restate profits, which turned out to be losses. I also suggested c60p when the share price was well above today's price.

Unless dc2 wishes I make myself clearer on another matter or the original, I think I'm done for now.

[dc2] 12/4/2018 17:35

Blondeamon, I prefer to challenge than live in a filtered world (an echo chamber) but will stop wasting other people's reading time.