Tern Share Discussion Threads

[wardy333] 29/1/2020 09:19

tyrano ..most on here can see right through them, so funny to watch their desperation to get this to 7.5p , will never happen LOL.

[jprich] 29/1/2020 09:19

Quite unbelievable isnt it we are sitting on assets worth billions of pounds and the share price cannot stay above 9p.

[jonc] 29/1/2020 09:19

There are only so many ways to describe a pig.

[jonc] 29/1/2020 09:14

andrea what the update told us was that across the board they have increased headcount ahead of increases in revenue equals bigger losses equals more fund raising .

Slam dunk sell.

[gobstopper] 29/1/2020 09:09

We need to know the other 4 Slam Dunk sells and buy in asap!

[andrbea] 29/1/2020 09:08

S-prophets focuses on FY 18 and a headcount reduction from 8 to 7.

Reporting on the Middle Ages - ignoring the now...

Since Summer 2019, DA have presented alongside HID, Thales, Intel, nCipher and Microsoft

All that, of course, happened after the era that S-prophets focuses on (FY 18)

[jonc] 29/1/2020 09:07

Down again and again.

[emeraldzebra] 29/1/2020 09:01

do stop whining and sulking Looooooooni, you penniless old fartbag. Concentrate on cleaning your smelly old prayer mat. lol

[duxy786] 29/1/2020 08:58

jprich - 28 Nov 2018 - 21:39:46 - 129617 of 184957

Check the one month technicals all positive and STRONG BUY.





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funny how he doesnt quote them today huh? Lets take a look....

[andrbea] 29/1/2020 08:56

HSM as a service being expanded at nCipher
news release 29.1.20

Having just presented in Brussels with DA, this news can only benefit DA

Also:
nCipher Security and Entrust Datacard will be exhibiting at RSA Conference 2020 on booth #S-2139. Drop by to learn how our cryptographic solutions guard against today’s threats and attacks, enable compliance and protect your business applications.



There's that magic word 'scale' again:

nShield Web Services Option Pack simplifies deployment for cloud-first data centres. nShield Web Services Option Pack provides a REST API between applications requiring cryptographic key and data protection services and nShield HSMs, enabling seamless application deployment underpinned by high-assurance nShield HSMs, which can dynamically scale to meet the needs of cloud-ready data centers

[jonc] 29/1/2020 08:55

tia is a very silly child.

[duxy786] 29/1/2020 08:55

tialouise22 Nov '18 - 07:38 - 128452 of 184952

Da may be sold well before it needs any funds x


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3 or is it 4 funding rounds later, this b yaaa chhh probably still quoting BS one liners, best filtered.
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[jonc] 29/1/2020 08:54

AIM-listed jam-tomorrow (or never…) investment company Tern plc (TERN) has updated the market with a portfolio review. The news seems good (a big contract for one investee and a fair investment for another) but the elephant in the room is its investment in Device Authority Limited – on which we learn precisely nothing. Worse still, apparently Tern now has a genuinely diversified portfolio of…. companies, with each……having a disruptive technology in a global market. Oh dear: it's that word again, 'disruptive' – has the board not heard of what happened to Neil Woodford?!

Notwithstanding the history lesson, the non-appearance of anything of substance at Device Authority is a massive Red Flag. It is all very well trumpeting developments at FVRVS Limited (FundamentalVR) - valuation £3 million - or at InVMA (valuation just £1 million), what about Device Authority, valued at a rather more substantial £12.3 million? On that, we are told:

DA continues to work with and develop product sales via its active partner base. Additionally, the company expanded its ability to penetrate the enterprise IoT markets with the addition of its Microsoft Azure IoT central connector in December 2019. This enables an end-to-end service offering in the cloud with enhanced security. This key enhancement to KeyScaler is designed to optimise and leverage the investment in IoT deployments by Microsoft Azure's large customer base which represents an important new segment for Device Authority growth.

Did anyone mention the words contract or revenue? ... Thought not.

Yet at the last set of account - the interims to June 2019 - Device Authority (DA) represented 70% of the £17.5 million net assets of Tern. Is a load of waffle really the best it can do? And in case anybody thinks this is a high-growth company, the last accounts from Device Authority posted at Companies House (for FY18) showed that the number of employees had fallen from 8 to 7, there was no Income Statement as the company still qualified to file abridged accounts as it was too small and the cumulative profit and loss account had deteriorated by about £1.4 million to minus £5.9 million. Indeed, despite Tern’s valuation of its 56.8% share of DA at £12.3 million, DA itself reported Net Assets of MINUS £0.9 million and Net Current Assets of MINUS £0.9 million to boot. Is it at all possible that DA is a tad overvalued by Tern? Answers on a postcard.

Tern’s investment into DA kicked off in 2014 and we are now in 2020. How much longer do we have to wait for DA to deliver meaningful revenues - and profits - instead of guzzling every last cent Tern raises in placing after placing? Tern is my big sell call for 2020 and occupies a spot in my Five Slam-Dunk Sells for this year, where I stated:

Device Authority could prove to be a busted flush this year, with bigger and better competitors entering its IoT security market, and still no big contract to boast of.

And if that is not enough, Tern’s share price sits at a whopping premium to its own NAV per share as at last June of 6.9p as against today’s mid price of 8.925p. That is a premium of around 30% for a portfolio of cash-guzzling disruptive dogs that Neil Woodford would have been proud of. And of course, Tern has a bit of a colourful history.....

When the music stops - and I fancy that will be this year - shareholders are going to get burned. Sell.

[duxy786] 29/1/2020 08:46

jprich - 04 Jan 2019 - 16:00:07 - 133627 of 184952
"andrbea dont lose hope

We are currently in conversation with Tern to review our communication strategy. I can confirm we will be hosting shareholder conference calls and announcing portfolio updates as we did last year, however, the dates of these have not yet been set so I am unable to confirm when these will be. When we have set dates for these, we will inform the market as necessary via RNS announcements and will also continue with our shareholder mailouts with portfolio news and updates."


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Hows the level of communication going for ya?

[sweepie2] 29/1/2020 08:36

This figure was adversely affected by some delays in commercial orders that were expected during Q4 2019, which are now anticipated early in 2020. These, together with InVMA's January 2020 contract win, are expected to contribute to a rapid start to 2020.


Any day with being 4 weeks into 2020

[jonc] 29/1/2020 08:30

Nice write up on Shareprophets this morning.

I'll post it here when I get a chance.


Enjoy.