Trakm8 – “positive adjusted profit for the second half”… so at least close to net cash generation then? Er…

Telematics and data supplier Trakm8 (TRAK) commences a trading update for its year ended 31st March 2019 with that it “met current market expectations… achieved a positive adjusted profit for the second half” and the announcement includes “at the period end contracts were secured with Ingenie… and another one of the UK's innovative insurance providers. Post year end Trakm8 signed a contract with another new insurance provider… The number of roadside assistance customers deploying Trakm8 solutions across Europe has increased to 7 and the product has been launched in Australia. In the Fleet space new contracts were secured with a number of medium sized fleets”. Good news then?...

Trakm8 (#TRAK) – argues improved H2, but still burning cash

ShareSoc bang on the money about wholly unacceptable boardroom greed at TrakM8

Unlike the Thirsty one, theUK's top share blogger, who repeatedly encouraged his readers to fill their boots with TrakM8 (TRAK) ,I warned you repeatedly here of its aggressive accounting, its lack of cash generation, its nonsensical acquisitions, its RNS lies and that this was an all round dog. Today, it adds to its crimes against investors with an  example of quite egregious boardroom greed. Mark Bentley of Sharesoc shares my anger and writes:

Trakm8 (#TRAK) – “challenging markets” profits warning, blames Brexit & promises jam tomorrow

You were warned - TrakM8 (TRAK) bailout placing - £3m at 22p. It will not be the last

TrakM8 – is it in breach of banking covenants yet? Methinks yes! What is HSBC demanding?

TrakM8 (TRAK) served up dismal interims late last week but as I warned then, things could get an awful lot worse. It all depends on how much the bankers at HSBC and panicking and what they are doing about it. TrakM8 needs to fess up to investors and make a statement.

TrakM8! Timber! Chickens come home to roost big time!

For a while it was going so well for TrakM8 (TRAK). Put out RNS’s saying you had cash when you had debt, record ramptastic interviews with thirsty Paul Scott and get him ramping hard, make really dodgy acquisitions that made no sense, generate no cash and watch the shares go ever higher. Then the Sheriff of AIM started to look underneath the hood and kick the tyres. The shares were 360p back then. They are opening today at just 23p to sell after a truly diabolical set of results and a (lack of) profits warning. If you were at the heart of the rampfest, it would be enough to turn a man to drink.

Told y'all (esp Thirsty Paul Scott) TrakM8 (#TRAK) utterly shite interims and a profits warning

TrakM8 AGM – another day another profits warning on the way

My long term bearishness about TrakM8 (TRAK) a company that issues misleading RNS’s, makes ludicrous acquisitions as it racks up its debts and never translates profits (a matter of opinion) into cash (a matter of fact, unless you are an AIM China fraud) is well documented here.  Of course,  Thirsty Paul Scott had cosy chats with the management and knew better than a "nutcase of the first order". Today the shares have tanked to a new multi year low after another dire statement.

Trakm8 (#TRAK) – trading behind same period last year, expects additional revenues in H2. Hmmm

Trakm8 Holdings – argues “pleasing to report very strong progress during the past year”… but show me the money!

Results for its year ended 31st March 2018 from Trakm8 Holdings (TRAK) emphasise earnings and revenue growth and see Executive Chairman John Watkins stating “it is pleasing to report very strong progress during the past year”. The shares have responded, er, currently 8.5% lower, back sub 100p…

Trakm8 – “International Contract Award”… but does it materially change a cash-burning picture?

Shares in Trakm8 (TRAK) ended yesterday c12% higher, back above 100p, on the back of a “International Contract Award” RNS. Ooooh, “international” hey – ramptastic or what’s the detail?

TrakM8: a treble whammy of bad news for it - I'm celebrating

For those of us who have been 100% vindicated with our bearishness on TrakM8 (TRAK) today is a bit of a party because we find ourselves celebrating not one but three pieces of bad news. And we are not the only ones celebrating.
I would imagine that Lorne Daniel, an honourable man, who is the research analyst covering tech round at FinnCap will also be on cloud nine as he will never have to write another supportive corporate broker note on this dog ever again. For the first news is that TrakM8 is switching Nomad and broker from FinnCap to Arden Partners.

Trakm8 (#TRAK) – some lower contract revenues than anticipated & shifts into new year

Trakm8 (#TRAK) – trading “satisfactorily”, outlook “unchanged”

TrakM8 talks shite - evil PR maestro Reg Hoare at it again

I wonder if my pal Paul Scott, the UK's top share blogger, has headed up to the post industrial grim urban wastlelands of Coventry for the AGM and investor open day of TrakM8 (TRAK). As someone who grew up near there I would not wish such a fate on anyone let alone a sensitive soul like Paul. Anyhow if a day in the place that gave us "Living in a ghost town" is not bad enough he will also have to digest a trading statement crafted by evil PR genius and crony capitalist Reg Hoare which ...leave a lot to be desired in term transparency. I would expect nothing less.

Trakm8 (#TRAK) – “remain (sic) on track to report improved cash generation this financial year”. You’d certainly hope so!

Trakm8 (#TRAK) – three year Master Supply Agreement with Intelematics Europe, no financial info

Oi @PaulyPilot TrakM8 (#TRAK) offering free food if you want to attend its AGM & "Investor roadshow" in the shit hole that is Coventry

TrakM8– still burning cash & still promising jam tomorrow, this is just a bad business

My contention, questioned by certain other well known share bloggers, is that TrakM8 (TRAK) is what Warren Buffett would define as a "bad company." That is not saying that it is a fraud. It is not, although it has told untruth's in RNS's and raised cash to buy some strange old businesses. It is bad because it just does not generate free cashflow. Paul Scott, PR crony capitalist Reg Hoare or the paid corporate shrills can bang on abourt earnings per share till the cows come home but earnings are a matter of opinion, cash is a matter of fact. Trakm8 yesterday published its, piss poor, results for the year ended 31 March 2017.