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Tern – Another Portfolio Update With Still No Numbers

By Nigel Somerville, the Deputy Sheriff of AIM | Saturday 12 February 2022

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.

How do you keep an AIM-listed Tern plc (TERN) shareholder in suspense? Why, of course, issue a Portfolio Update with no numbers attached! And that is what we had yesterday morning, from a company desperate to get a big bucket-shop funding round away as it faces a hefty bill to stand its corner at Wyld, which has a round of warrants due to expire at the start of April and not enough cash to pay for full conversion. But perhaps the biggest Red Flag of all was the excuses offered with regard to principal investee Device Authority.

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