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EXPOSE: Tern – I am Wrong About Device Authority. Really? Look at the hard numbers

By Nigel Somerville, the Deputy Sheriff of AIM | Friday 22 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.

A correspondent writes that I am wrong to suggest that AIM-listed Tern’s (TERN) jewel-in-the-crown investment, Device Authority (DA) which on its own is apparently worth over half of Tern’s NAV, is in grave financial difficulty. Let’s look at what we do know – and, perhaps more importantly, what we don’t.

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