By Nigel Somerville, the Deputy Sheriff of AIM | Sunday 11 September 2016
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.
Tern plc (TERN) investee company Cryptosoft Ltd as was (now Device Authority Ltd) has filed its accounts for the fifteen-and-a-bit months to Dec 2015 and the picture painted is not pretty. Nor is the cross-match (or lack of it) to the accounts of (then) majority owner Tern plc. Call me a pedant, but surely the investment by Tern into the share capital of Cryptosoft at period end should not exceed the total of share capital and share premium, should it? Oh, and then there were a few balance sheet issues.
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