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Don't go bankrupt on me, only small punt but still would like a small return, thanks, lol.
Hi all, my prediction on 2nd Feb that the tracking side of STK and the IBP part will split is about to come true subject to shareholder appoval at a GM due in March. I must congratulate the board in proposing a solution that will allow a chance for STK to continue and possibly recover. I put forward the opinion in earlier blogs that the departure of the MD (Will Hirons) was critical to the survival of STK. According to the notice issued yesterday he will cease as an Executive of STK and take the loss making tracking business outside of STK. I was not sure it could be done, so all hats off to Simon Barrell the Chairman and FD for achieving a potential way forward, I suggest that all shareholders support the proposed restructing of STK as defined in the Notice. it was noted by Bark that I was well informed, yes my cousin was the source of my info and he knew the truth about STK from years working in the tracking industry. from my side our work of telling the truth about STK to the BBoards is done, now to I believe the predators will be after the tracking business customers, but that is business. So WH went from owner of a cottage industry to the paper millionaire of the PLC and now back down the snake to the start point. Pity in excess of £2 million of investor cash was lost during his time as MD, but that ia the risk you take as an investor in such companies. Good-bye top all, Delbouy is signing out
Hi Bark, I am a Hyena taking the flesh from STK as it struggles. You guessed some right things but would be prepared to be more open. If you email me to investor-truth@hotmail.co.uk and provide a direct dial number plus your real name I will call. Over to you
Hi Bark, you are right STK has about 2000 connections at best from a UK market of about 10,000 spread across STK plus 3 other competitors. They are likely to be interested but there are easier ways to steal most of the 2000 connections than paying for it. Jamie Steninger works for STK so might have knowledge to run a tracking operation but not sure the finance to run take it on. Digby Ram traded IBP into STK for shares and then semi retired and last year stopped working with STK. Matthew Dodson is investment 'fixer' and for sure is not experienced in running a tracking co. However the two biggest winners in terms of cash returns have been Matthew Dodson and Digby Ram. The other 5 big shareholders are stock traders and I am sure they have better things to do than run a tracking company given the knowledge how much money has been wasted to get to where they are now. IBP claims to have sales but will struggle to achieve them even if Will Hirons report have any truth. In suspect that the current connection base of 2000 will have shrunk considerably over the next few months as the competitors know STK is in big problems. If you and other investors come out with any cash, who knows but it does not look good. I am sure that the tracking side and IBP will part company when STK reaches the end. The vultures are already circling above to pick up the pieces, I know for sure. All the best.
Hi Bark, your right it is too late to save this one barring a miracle, more than £3 million lost and still lack of mass sales. Even Will Hirons going would not help as there is not much cash left in the pot for someone else to save it. Trade estimates are 3 to 4 months to hitting the wall unless someone is mug enough to buy another bunch of shares and drop some more cash in the bank account. Given the poor delivery of real sales it would be a very brave investor to sink money in this failing company. So sorry about your shares but hope it was not too big and you can take the loss. I sold my shares as they floated on AIM, I had seen the losses and sales failure while STK was on the Plus market, I lost some but not too much, certainly it was good to get out. Good Luck
Hi Guys made a typo last night, it needs a 75% stock holder majority vote to remove the MD, Will Hirons. He holds approximately 20% of the stock, so the chances of massing enough vote to remove him is low. This business has failed to win orders as it has failed to be managed with direction and understanding of the potential markets. The investor money was wasted on many versions of sales material, a failure to focus on sales, only one sales member has been there from the beginning and they had to pay £30K+ to buy his partnership business and £30K a year on a three year contract. Previous sales was unstructured and hampered by inexperienced admin management that dominated the company policy, led by the MD's partner. Sadly the executive team sadly lacked technical experience, the new product MT was a failure, some customers had to have the system replaced three times, the warranty problems held back sales. It was heard inside the business 'good job sales are slow or the warranty would kill us'. I know some of you, Bark and Spindok thought Thatcham would assist the business, sadly the product does not match the tech spec of either Thatcham Cat5, a requirement for auto insurance acceptance ot Thatcham P5 a requirement for the NFU ie agricultural insurance. It has a lesser Thatcham recognition. The AIM float was close a fraud, it was promoted on the back of 'contract' with Ford, even the FD was fooled, he bought shares and admitted that he should have checked the progress of the Ford 'contract' before committing to buying shares, he admitted that only a handfall of tracking units have been sold through Ford dealers, that management failure cost another £million of the investors money. The knowledge in the Tracking industry is they will go bust as the burn rate of investor cash far outstrips the income from sales. What will your shares be worth when it goes bust. Please note these are my opinions based on an industry and personal knowledge. Feel free to ask me specific questions and I will answer honestly.
The share price and company value is in free fall, best sell now and salvage something. They have been burning more than £60K per month as per the last published accounts. I had some onfo that they were down to about £50K but a bigger investor dropped in another £260K last July. I can guess that they have reduced burn rate but not easy given the number of well paid management. So when will the cash run out? Six more months at say £50K per month means about it is going to run out of cash very soon. Will Hirons has failed to sell trackers but I am sure he will be hard at it trying to sell more shares to a mug who listens to his BS. The ford contract was total failure, the new sales team was scrapped. They released the sale manager last spring after failing to bring caravan business. The Chairmen Nigel Linacre left spring last year, the new chairman lasted 3 months and the FD has had to double up as Chairmen. So who needs changing? Look for the only executive to still be in place after the company has lost more than £3 million of investors money: Will Hirons. However it needs a 25% vote to remove him and he holds so much stock that this is very unlikely. The investors are doomed, gals I sold my stock and got out with only a small loss, good luck but this business can never achieve sufficient sales with the current Boss.
Totally agree. I got into these because our sailing club lost 3 outboards and had their boats wrecked. When tracks fitted to the replacements within 2 months the police nearly caught them at it. Never been another problem ... There is a huge market in plant and agriculture. Oh well.. Back in hibernation
Back in the draw for another 6 months. These results and updates hardly fill me with joy....Profits miles off...
figures next week which should make interesting reading and the financial year end put back to March 2012. Looking for good news here it must mean they still think they will be around by then. Progress here is pitifully slow...
Any one else think with all the rise in agricultural machinery thefts and construction plant this company which now has Thatcham approval should have any trouble selling its products. The only downside I can see is if you ring the old bill to say your tractor is being nicked they ask you to confirm it is insured for the road.. Look forward to their figures for sales on a regular basis but sadly they are not very good on keeping Pi's informed. Heard a rumour somebody had nicked their computer..
I nearly decided to sell my small holding here yesterday but my attention wandered elsewhere and I did not. Reading the rns perhaps at long last the company is beginning to move ahead and better times are on the way. I shall put them back in the bottom drawer for another few months..
Hi Bark, so you clearly work for the company. How secure is your job? Not too good with the extremely poor company results. Last year the board forward forecast 3000 units per annum to go through Ford, with a revenue of £1 million, this clearly has not happened. So tell us what is wrong with the company sales? Could it be a management problem? When will the cash run out? You seem to be the expert please give investors some help. I see another share sale today.
Hi Bark, this company is loosing so much cash per month that it can expect to run out of money before sales can be achieved. Just look at the accounts. Then what? Back to investors for more cash, more likely go bust. The management had too may changes this year, that is a clue to a problem. Best to get out with something, I see that small sales are starting over the last week. Good Luck
Accounts show they lost even more in the 3rd year on a reduced sales, what happened to the cash invested last year? The Ford deal has failed according to the report published on June 16th. A waste of money.
Final results due tomorrow . They have moved today for the first time in ages so perhaps our times is coming. What we need is some good news especially with regard to Ford...
So did you buy the 1.5million shares?? This share is like watching paint dry..
is another useless company that see's no point in keeping small investors informed. How would anyone know if they are even half on the track. I think there should be a rating for keeping their shareholders updated. This would score 0/10
Pass on that one...perhaps he just like's the peace and quiet of this board... and does not like sudden movements of his investments............
Have told PeteRed to pop by from time to time... He has green fingers..
the manure has helped.. Two big buys have appeared. Will now keep an eye on these and water them regularly
Must think Pi's are stoopid.. If you raise the buy price and leave the bid price and up the mid it looks like the SP has risen 16%. Truthfully it is a con. Give us an update because at the moment it looks like they are desperate to sell and reluctant to buy... Shall order some manure today
urgently needs some more manure to make it grow. The management appear to be all at sea when it comes to updates and news... Come you B of D's you still alive??