Member Info for dc2_

Ship is definitely sinking - down 18% as I post

We all have our different perspectives, equally valid - mine is Joe appears to be a decent character who strongly believes in the product. I don't think Joe has anything to benefit from 'smoke and mirrors' behaviour and I doubt he is running/managing the business. I'm the one making assumptions about Morrisons - but it came across to me as frustration in a lost contract and a genuine belief that Trak's product could help. Should he have been so public, probably not (and maybe that is where you and I can agree)

Business as usual on LinkedIn - somebody just posted "I’m happy to share that I’m starting a new position as Sales Executive at Trakm8!" - doesn't sound like the ship is sinking - what a different reality to mine.

Gonna add - said rival closed its cafes - 'In January, rival Sainsbury's announced it was shutting down the remainder of its cafes, saying that most shoppers "do not use the cafes regularly"'. - in linked article AND no mention of optimisation (so quite a jump). My money is on this being the fabled contract.

Is Joe trying to tell us something (thanks Joe, if you are reading this) or is this just a coincidence. It is a little bizarre to read it in the context of thinking Trak themselves are struggling (Joe would know better than us - but the RNS was brutal). It also makes the assumption that Morrissons does not use optimisation from another supplier (the post shows a lot of knowledge, so I assume he knows what he is talking about). I'm going to say it but Joe really does make it sound like it is business as usual.

"Disappointing to see another British retailer struggling, in fact Aldi have now taken over as the 4th biggest supermarket in UK and there are 365 jobs at risk. It’s baffling how established businesses like this don’t look for efficiencies within their organisation before deciding to put 365 jobs at risk. Trakm8 supplies world class slot booking Optimisation algorithms to one of Morrisons rivals (similar fleet size) and they have reduced fleet operations cost by £15 million per annum using our solution. If Morrissons deployed the same solution and approximately made the same annual savings that would be enough to give 365 people a salary of £41k per annum.

It really is that simple team Morrisons and you don’t need to let people go to reduce costs ☺️"

https://www.linkedin.com/posts/joe-heidari-75509897_morrisons-to-close-52-cafes-and-17-convenience-activity-7309979275594518530-C2l2?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAWdOJsBbs9qEQ3tM0WIGHldSiTIcXF93uI

Wow, super terse. I think we said more on this BB. I guess something more detailed may follow.

You'd think that Microlise would take this without taking any of the BoD with it. Joules in adminstration is ok, as it was a fashion brand. Trak in administration would have reputational damage. Not saying the tech wouldn't win out in the end but some big clients may fly the nest, as well as key members of staff. So I think an pre admin offer is more likely (peanuts to ML now, but well deserved given their investment in Trak).

I could see this being split - insurance being sold out to Freedom, telematics to ML. It could even be that selling insurance would give Trak a cash injection to operate back in familiar terroritory.

From the pov of LinkedIn, it looks like it is business as usual - CV Show and a nomination for something or other - and no statement from Allenby (I guess they were caught with their pants down [even though this is not new news]) - and no further RNS. And no "open for jobs" on people's profiles. Are these actions pointing to something positive? Joe is very well aware of the financial situation (given his response to that guy how slatted Trak) - perhaps he is looking for new opportunities - time will tell.

That last RNS was very direct and to the point - no sugar coating, no optimism - just a 'deal with it' attitude. Sounds terminal - and hardly a positive way to win backers. But is this just arrogance - does JW have a trick up his sleeve and will prove the market wrong.

I have written off my investment (more like a gamble) in Trak. Maybe I will get something back (other than the time).

I'm not sure how it all works but I guess that JW would not want this to go into administration - as KBYK states, ML would just pick at the bones and JW et al would lose out. So taking it private would work for JW (as well as the other large shareholders) - so yes, the 50% large holders offer the PIs small beer - comes with an injection of cash. I suppose a massive dilution may do the same (keeping us but as much reduced holdings)

There is probably something where ML just take it out - the alternative is they called it seriously wrong - I think that may explain why Trak get good contract renewals (perhaps the end client is aware that ML will pick up the pieces, so business as usual)

The cynic in me says we will have an RNS tomorrow talking about how an offer is 25% above the closing price of the previous trading day etc etc.

Yep - need director buys - sadly lacking - no confidence from them (yes, I know they have the CLNs but at 18%)

I reckon there is an emercency take over deal happening in the background - just cannot understand how they survived these past few months. Think the overdraft is in play - gives them time to strike a deal with interested parties (JW/Microlise etc). 20p a share would be amazing - more like 1p (no impact on JW other than maybe stumping up more cash). I hope I am wrong - but that TU offered no reassurances. As for Allenby - how did they get this so wrong.

Now watching Linked profiles - looking for "Open to work" on key team.

I'm surprised this hasn't been suspended - cash in hand was terrible in December. Obviously the TU does not give any details, but we can assume they are using that overdraft. Reckon next RNS will be some kind of deal between JW and Microlise, which takes it private (and we lose out).

Looks like wasted half a million for that Freedom software - I thought Freedom was coming good, but clearly not.

We are doomed

"Contrary to the Board's expectations, whilst Fleet telematics and other Optimisation sales have continued to progress well, it has now become apparent that the anticipated material Optimisation contract will not now be forthcoming. In addition, conditions in the Insurance market remain poor.

As a result, the Board now expects revenues for FY 2025 to be just under ten per cent. lower than that those reported for the financial year ended 31 March 2024, with a consequential impact on profitability."

Also

"Trakm8 has over 236,000 connections."

https://www.lse.co.uk/rns/TRAK/trading-update-wkth3oohdhq8k23.html

More the point, 10 working days left until the FY and no sign of that contract. I doubt it will happen in time (I actually think it is dead in the water). I feel misled by their 'we are confident of signing..... - FY23 and beyond)

If there is a contract signed with a company that uses pressure washer (as a business), and given NoSugar was in nam - then I'd say he is JFW ;o)

"Legionella & Fire Safe Services is an award-winning specialist in water hygiene, fire safety, and social housing regeneration services. The company delivers planned and periodic solutions to critical infrastructure across the UK, serving over 300 clients nationwide. With a mixed fleet of 57 vans, trucks, and cars, the company was seeking a reliable dash cam system to enhance their fleet management capabilities."

https://www.trakm8.com/news/legionella-fire-safe-services-chooses-trakm8-fleet-dash-cams/

Given I bought at 4.68p the day before, I tend to agree with you - enjoy Vietnam)

Yes, 100k policies equals 90k device minimum supplied by Trak - so would be good news

I'm not seeing any late trades - just two trades on the day - one just before 4pm. Which ones are you referring to?