Trakm8 (#TRAK) – warns as “anticipated material Optimisation contract will not now be forthcoming. In addition, conditions in the Insurance market remain poor”

TrakM8: Apologies I was too generous

I am too much of a nice guy in the bonus bearcast yesterday. I apologise. It is a fault of mine. I had suggested that TrakM8 (TRAK) was technically insolvent and that there was no way on earth that it could pay its creditors, including £4 million of bank debt, as they fell due during the next 12 months. But I made a schoolboy error.

Trakm8 pretends debt is not debt as dismal FY numbers accompany a warning

I have always been a bear of TrakM8 (TRAK) and its share price performance has been enough to turn its biggest cheerleaders to drink. It never fails to disappoint and today’s full year numbers to March 31 live up that billing.

Trakm8 Holdings: The Pig, The Pork and the debt at credit card rates

TrakM8 (TRAK) has reassured investors that the insurance issues which prompted its lack of profits warning for the year just ended have been resolved so it is now on track for a much better year. But it is helped in that respect by a new contract extension which my pal Evil Knievil would undoubtedly term “The pig and the pork.”

Trakm8 (#TRAK) – ramptastic update, though also including issue of £0.99m of 18% interest convertible loan notes!

Trakm8 warning but it is what it does not say that might turn well known fans to drink

There should be a celebratory ouzo for the perma bear. For thirsty bloggers who used to work in a shop, today’s lack of profits warning from TrakM8 (TRAK) will mean that many sorrows need drowning. What is said is bad enough. What is not said is really frightening. It's the balance sheet stupid!

Trakm8 (#TRAK) – contract delay and other weak trading warning

Trakm8 (#TRAK) – H1 swing to small profit, net bank debt still £5.6m

Trakm8 (#TRAK) – trading update, notes “second half weighted” but various challenges

TrakM8 to extend the hook up with the fraud Gary Lineker promoted – a bit disingenuous

TrakM8 (TRAK)  has announced that after three years of working with Ingenie Limited, it has extended the deal for another three years. Ingenie you say, that Ingenie? Er…yes. Well sort of.

TrakM8 – yet another dismal profits warning

Perennial AIM casino disappointer TrakM8 (TRAK) started today’s statement with the good news: a modest contract win. But this company never fails to disappoint and so having hyped its H2 prospects before Christmas now we have the bad news.

Trakm8 (#TRAK) – contract award, but FY revenue expected to be c. -20% & a loss

Trakm8 (#TRAK) – H1 loss on revenue -17%, second lockdown “softening in the market and increased uncertainty”

Trakm8 – “New Appointment & Trading Update”, set for full-year profit… Or not?...

Self-styled “UK based technology leader in fleet management, insurance telematics, connected car, and optimisation”, Trakm8 (TRAK) “is pleased to announce… trading for the year ending 31st March 2020 remains in line with previous guidance… and… appointment of Peter Mansfield as Trakm8 Group Sales and Marketing Director”. Good news amidst the current climate?...

Trakm8 (#TRAK) – trading for year ending this month “remains in line” – though that “modest” adj. PBT, appoints new Sales & Marketing Director

Trakm8 – argues “pleased to report” interims, Er…

Executive Chairman of telematics and data insight company Trakm8 (TRAK), John Watkins is “pleased to report Trakm8's results for the six months ended 30 September 2019”, including emphasising “the board is encouraged that the decline in revenue has been arrested and the first two months of H2 are significantly ahead of last year” and “the long awaited deployment, in volume, with our insurance and automotive customers has now commenced. The Fleet teams are delivering new contract wins significantly ahead of the previous year and the pipeline for new opportunities is strong”. The shares are though little changed at around 22.5p…

GOTCHA TrakM8 (#TRAK) forced to correct FY results after @tomwinnifrith expose @shareprophets

Expose: TrakM8 needs to restate results announced yesterday thanks to PWC Screw-up

The critical point about yesterday’s full year numbers from TrakM8 (TRAK) is that they show a company with zero earnings visibility, burning cash and with a drowning in debt balance sheet which is thinner than an Ethiopian super model when it comes to tangible net asset backing. I do not wish to sound like an accosting pedant and geek but there is another issue: auditors PWC Southampton have screwed up and the numbers need to be corrected and re-issued. Let me explain:

Trakm8 – talks “adjusted (loss)/ profit”. Er, what about those self-admitted “necessary” ‘capitalised development costs’?

Telematics and data insight provider, Trakm8 (TRAK) has announced results for its year ended 31st March 2019, including “sales related challenges and contract delays significantly impacted” but that “the new financial year has begun with new contract awards from two further insurance companies, with revenues already commenced” and “Fleet sales team's performance is continuing to improve, securing a higher value of contracts than the corresponding period last year with this momentum expected to continue”. The current year to be much improved then?...

Trakm8 (#TRAK) – notes FY adj. loss £1.5m, cash burn before new financing was £5.3m