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Checkit – argues “accelerating its plan to achieve profitability”, but what does that actually mean here?

By Steve Moore | Thursday 11 August 2022

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on provider of business technology jargon(oops) an “intelligent operations platform for the deskless worker” Checkit plc (CKT), in February with the shares down to 46p I noted it increasing costs with it already cash burn aplenty and how long to wait for a meaningful positive revenue and bottom-line swing?, avoid / sell. The shares last closed at 29p and now a trading update emphasising “successful transformation into a subscription business… Cash at 31 July 2022 was £19.5m… in light of market conditions, the board is accelerating its plan to achieve profitability”... and the shares currently at 27.5p?

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