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BREAKING: Tern – oopsadaisie: Just How Bust is Bust at Device Authority?

By Nigel Somerville, the Deputy Sheriff of AIM | Saturday 16 October 2021

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.

Oh dear oh dear. AIM-listed jam-tomorrow IoT investment company Tern (TERN) principal investee Device Authority has just posted amended FY20 accounts at Companies House. Given that the original accounts were signed off back in January but not posted until 21 September 2021, that looks like carelessness – as do the missing Notes to the Accounts. And then there is an increased £4.6 million liability, apparently owed to nobody!

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