Tern Share Discussion Threads

[loughton] 20/7/2018 22:54

No because there is the true Terd NAV and the Terd NAV that they make up based upon that fictious 'valuation' of DA.

[stead41] 20/7/2018 22:49

Isn’t the £9.69m valuation of DA part of Terns NAV

[loughton] 20/7/2018 22:35

Well unfortunately that isnt true either. NAV is where the company is.

IP 'valuations' and cashflow forecasts are bullsh1t of where a company will never be.

[stead41] 20/7/2018 22:32

Haha, you beat me to it. It is a pointless point he made as it is all within the NAV anyway.

[loughton] 20/7/2018 22:30

The point is that anyone with any basic knowledge in finance knows that IP 'valuations' and cashflow forecasts are utter bullsh1t.

All that matters is NAV and for DA it is a big fat ZERO.

[johnma] 20/7/2018 22:15

Thanks Tyrano totally agree with you perspective on valuations.No business in the tech space is sold on NAVIt's all about IP and future market potential.

[stead41] 20/7/2018 22:11

They were ramping HSM’s earlier, DA doesn’t even offer this hardware.

[loughton] 20/7/2018 21:53

What is so funny is how the old fat idiot Swinndle has to spend all day downing the posts instead of cleaning the toilets.

Bless.

[stead41] 20/7/2018 21:50

Just a quick reminder

[still waiting] 20/7/2018 21:34

Cisco having issues, another one for DA to get on the phone to.

[loughton] 20/7/2018 21:34

It won't crash. The idiot clowns are too mad and stupid to notice.

[riot2] 20/7/2018 21:29

Price is going to crash when interims come out.

Nav wont move much, if at all....

I expect people will start selling out as there are only 5 weeks or so til they are due.

[stead41] 20/7/2018 21:23

riot220 Jul '18 - 21:18 - 110475 of 110475
0 0 0
Take the portfolio to a specialist valuers? FFS.

What planet are you on mate.

This isn't an episode of posh pawn.

Pmsl


It did actually get a independent valuation last time.

Device Authority Limited
Market segment: Data Security software
Equity ownership: 56.8% ‘A’ Shares Cost: £4.34 million Valuation: £9.69 million
Valuation is based on the price of shares in the most recent fund raise (April 2016), which is taken as fair value, translated at the exchange rate at the balance sheet date. This was supported by an evaluation of a combination of factors including the independent valuation of Device Authority’s patent portfolio, a comparison to transaction multiples in comparable market sectors and an evaluation of sales pipeline and 2018 trading forecast.

[riot2] 20/7/2018 21:20

You could take the portfolio on the antiques roadshow, see what it should be insured for.

I reckon 5p. Rofl

[stead41] 20/7/2018 21:19

Siddle20 Jul '18 - 21:10 - 27159 of 27160
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Weekend shift started early for Stead?

Was that a question or a statement

[riot2] 20/7/2018 21:18

Take the portfolio to a specialist valuers? FFS.

What planet are you on mate.

This isn't an episode of posh pawn.

Pmsl

[stead41] 20/7/2018 21:13

Tyrano120 Jul '18 - 21:00 - 110474 of 110474
0 3 0
Sweepie, the valuation of Tern will go up a little based on the FVR investment and some investment into DA. Unless they bring in investment to DA at a significantly higher price then you aren’t going to see any material change in NAV.

The other way they could get a revaluation is to get the portfolio valued by a specialist valuer. Not sure they’re going to go down this route.

To be honest I don’t expect any major revenues in H1 with the Thales and Comodo launches coming towards end of H1. H2 will be a better barometer for revenue growth, but again will only be getting started. I think it was HG who made the point that 2019 is the year when revenue growth really takes off and would have to agree with him.

Perhaps AS will update the 5 year revenue projections. Maybe make a general statement indicating if there are unnamed parties that have launched.

As stated by others the interims will more than likely not be the big reveal that some think. The portfolio companies especially DA are gaining traction in disruptive and huge markets. That’s good enough for me and await the acceleration of partner launches with great patience.



Can’t you remember Johnma’s valuations, the one that got all your thumbs up.

[siddle] 20/7/2018 21:10

Weekend shift started early for Stead?

[stead41] 20/7/2018 21:09

Will they backtrack on all the ramping to when they were implying that revenue was flowing, “What, do you think that they are giving it away”.

[tyrano1] 20/7/2018 21:00

Sweepie, the valuation of Tern will go up a little based on the FVR investment and some investment into DA. Unless they bring in investment to DA at a significantly higher price then you aren't going to see any material change in NAV. The other way they could get a revaluation is to get the portfolio valued by a specialist valuer. Not sure they're going to go down this route. To be honest I don't expect any major revenues in H1 with the Thales and Comodo launches coming towards end of H1. H2 will be a better barometer for revenue growth, but again will only be getting started. I think it was HG who made the point that 2019 is the year when revenue growth really takes off and would have to agree with him. Perhaps AS will update the 5 year revenue projections. Maybe make a general statement indicating if there are unnamed parties that have launched. As stated by others the interims will more than likely not be the big reveal that some think. The portfolio companies especially DA are gaining traction in disruptive and huge markets. That's good enough for me and await the acceleration of partner launches with great patience.