Member Info for dc2_

I'm glad to see Trak is still listed - lol. In a very dillusional state - I wonder if Allenby's update reflects knowledge that the signing of the contract is immient (dotting i's and crossing t's)? If so, expect a new CLN for not much cash but enough to trigger a re-rating of the existing ones (all at 4.75p) and then an announcement - I hope that is not the case and that we just get the contract news....

Yes, but how are they connected? They seems to analyse sporting events

In one of the LinkedIN versions Joe adds

"Well done to Sean Hewings for winning fleet risk management and our partner Mark O. at WeTrack for the continued support!"

Who are WeTrack?

https://www.linkedin.com/posts/joe-heidari-75509897_what-a-pleasure-it-was-to-attend-the-what-activity-7270117938353827840-93cT?utm_source=share&utm_medium=member_desktop

I'm with you KBYK - it feels like this is the walking dead because we don't know the cash situation but still it walks - what are we missing!?

I hear what you say but the only way I think they can deal with their current liabilities is to renegotiate the repayment time for the HSBC loan so they don't have that final payment (circa £3m) and issue a new CLN (in order to retrospectively change the exisitng CLNs down to the current price (still at 18%) - a repeat of that slight of hand they did 6 months ago) - then they just delay or convert.

But you are right.....they have done well with optimisation - let's hope they do sign the new contract and everything I said above is not needed. I still see the CLNs as dilution i.e. not requiring us to worry about repayment

I reckon there will be immient news (like the last CLN)

The big unknown is how much cash do they have now (£350k Sept 30th) - surely if they have gone through that then this is not a going concern but a lights out. I reckon you are right NoSugar - another CLN (no one else will lend) with a readjustment in price of the old ones and a massive shareholder dilution. A management buyout by the back door. The alternative is Q4 is actually cash generative BUT they have made no effort to reassure the market in that respect so I am guessing not. We are doomed - although I still don't think ML will allow this to go into administration.

I would add, as shareholders we take the risk - I am disappointed that some bears seems to revel in the downfall of a company - I don't care about the shareholders but what about the innocent people who will lose theirs jobs in the event of a collapse. Hopefully it won't come to that......

Doesn't really say anything we don't already know although I'm surprised at the gross cash figure (perhaps I read these things wrong)

https://wp-allenby-2020.s3.eu-west-2.amazonaws.com/media/2024/12/20241206-Trakm8-plc-TRAK.L-Allenby-Capital-Interims.pdf?c4484=on

This cannot be good for JW - his shares are now worth circa £350k (approx. his salary) - if he had sold out at £1 per share he would have 20 odd years of salary banked - now pretty much nothing by comparison. i.e. not sure he feels it is a good gig/gravy train. Perhaps this is the defining moment when he accepts a reasonable offer to get out.

I think ML do the tracking for Sainsbury's - I was always surprised they did not do more - perhaps that is part of Sainsbury's policy i.e. to spread the risk - and to be fair given the cyber attack and the state of Trak they called it right.

And yet Sainsbury's and Iceland extend contracts.......As the mouse said, they have a decent client base - so there must be value in that and the recurring revenue stream. I suspect you are right, someone (ML?) will take it out at a low price and asset strip it.....One assumes that ML will not allow the Watkins to take it from the administrators (so that suggests the board are not doing anything nefarious)

I'm at a loss. Allegedly made a profit (albeit head above water) but cash position terrible. How does this get signed off as a going concern when they are servicing 6m of debt (some at 18%) - ok, some of the cash spent over H1 was that Driver Force acqustion - that I never really understood - I suspect the unused overdraft will be used. Big difference YoY is the staff costs (which one assumes goes up even more since the budget - I am surprised that was not mentioned) - so I guess that shows revenue did improve. The use of confident and hope mean nothing to me - that contract is now sidelined in the pipeline (so no more hope/confidence just quietly remove the focus from it).

To me this has 6 months of treading water - either the things they are pinning hope to materialise (which could turn it around), they cut deep to save cash (BoD salary cuts would be a good thing) or they are history. This has been the slowest train crash I have seen.

Waffle ends.....

Great post, completely agree. Yep, would be good to hear what the mouse thinks of this - obvs, he went to X but maybe he reads the thread.

Interesting point re overhang, thanks

There's the silver lining - my investment in Trak has been no worse than an industry expert and NED (well, we have both lost money).

Just weird how the spread can be so misaligned with the real price.

Personally I don't think the MMs know anything other than what KBYK said about negotiated trades etc. And while small in the grand scheme of things, a 90k trade below the spread has affected the price. Perhaps there are more trades to come (given the last assumed buy affected the price). I agree with KBYK that someone just wanted out (partial or fully who knows).

Other than administration - my other concern is that JW will take this private and at a cheap price - so no loss to him (other than being able to liquidate his holdings later). About 60% of the shares are known (plus the effect of the CLN) - not sure how many it takes to do a MBO style take-over. Obviously, they would all have to agree. Although, ML may finally step in - to be honest, I am not even sure if ML could hold a once listed company private without it seeming very suspicious.

That was a big one (90k) at 5.25p - guess we are going down.....

Bring it on, lol. (not that I drink but my money is still on the 10th. Whatever the date, let's hope it is good news for a change.

My money is on the 2nd week in December - so 10th BUT they have a habit of drip feeding contract news (yes, I guess they can't really constrain them) just prior to a TU

Given they had to announce for an imaginary contract, wouldn't they also have to announce if they lost the opportunity? Update coming.....so maybe we will know more including the affect of the budget on why Trak is still is a mess.