4 days ago
AIM-listed jam-tomorrow internet of things investment company Tern plc (TERN) announced its interims to June this morning. Tern’s motley bunch of fanatics will of course be celebrating the claimed 75% period-on-period increase in turnover amongst its cash-guzzling portfolio, but for all that, NAV per share slipped from 7.3p to 7.1p and the company burned through another mountain of cash.
13 days ago
Yesterday I was reviewing Lucian Miers’ big 5 small cap shorts with the great bear over breakfast. Breakfast BTW was porridge with homemade stewed apples (from the Welsh Hovel) in cinnamon. In the podcast, I discuss last night’s culinary fare but then probe Lucian on what he sees as critical mid and end points for each of his 5 UK small cap big shorts: Tern (TERN), Versarien (VRS), Chill Brands (CHLL), Supply@ME Capital (SYME) and Eurasia Mining (EUA).
20 days ago
The markets are utterly bonkers. They have been all year. And that brings me to my 5 slam-dunk sells for this year, which I have previously suggested the performance of which underlines my feelings that the market is completely unhinged.
25 days ago
AIM-listed jam-tomorrow investment company Tern plc (TERN) has announced that its one listed investee (on the tin-pot Nasdaq First North market in Stockholm) Wyld Networks AB (WYLD) has raised SEK 12 million (approx. £1 million) in the form of a loan from Formue Nord Fokus A/S. That’s all very well, but…..
33 days ago
AIM-listed jam-tomorrow investment company Tern plc (TERN) has announced a portfolio update…..and that it has piled another £630,000 into its portfolio. But that seems to be about the only number offered.
52 days ago
Bulls and bears in tech investment company Tern plc (TERN) can at least agree on one thing: the key to the investment case is its holding in Device Authority Ltd (DA Ltd), a provider of security solutions for IOT products. Tern holds 56.8% of DA Ltd’s equity and has to date lent it £3.1 million in convertible loan stock. The stake is carried at £12.8 million on the balance sheet (valuing the whole company at £22.5 million), representing 58% of the value of the portfolio. It is DA Ltd’s perceived potential that has seen Tern’s shares trade at multiples of its book value and been the hook upon which it has hung the majority of its 16 placings to date.
57 days ago
As I predicted it would in my last piece, Tern plc (TERN) came back to the trough last week with yet another placing (its 16th since it emerged from the ruins of Silvermere Energy in 2014) and the shares predictably sold off, causing a few rumblings of discontent among its shareholders, 100% of whom (bar management) are retail. But before I lay into the company and its management, let me present you with a fun fact regarding dilution, a dirty word for most equity investors.
63 days ago
The top non-Tom article this week is QUIZ plc – trading update, how creditable is “consistent with the board’s expectations”?… by Steve Moore at number four or number ten if you include the Bearcast and Tom’s new shareshow. The funniest article this week is ShareProphets “Good Day to Bury Bad News” Competition Result – how many companies put out dodgy RNSs the morning after the Euros in the expectation that they will be overlooked. Nine.
67 days ago
After yesterday’s latest tin rattle by Tern (TERN) to raise up to £4 million gross at 18.8 pence per share, a discount of 16% to its grossly over inflated share price, I have had a look at its performance over the last four years.
75 days ago
Having asked for readers tips for 2021 for the prize of 1/2 litre of Tom Winnifrith’s Greek Hovel olive oil (2021 harvest) HERE, the following is an update on performance as at the end of June (to be eligible needed to have selected, on a once per username basis, a buy & sell pick from the LSE or AIM casino and the stocks not to have been suspended at the commencement of 2021)…
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