#TERN – investee Device Authority Limited new equity investment from a US private equity firm Mercato Partners, good luck!

Tern stands its corner at Talking Medicines Ltd, another shite investment, do folks ever look at annual reports?

Talking about pissing good money after bad. Having raised £400,000 gross (call it £370,000 net) just eight days ago, Tern (TERN) has today spaffed £100,000 standing its corner at Talking Medicines Ltd, an eleven year old cash guzzling crock from Glasgow. Its last accounts are shocking.

VINDICATED AGAIN: Tern hugely discounted placing but its just a sticking plaster, death only postponed

Tern (TERN) has announced a placing raising a paltry £400,000 and at just 2p – the shares closed yesterday at 2.875p and were well above 3p just five days ago. Natch the company misleads with its excuses, this is just a sticking plaster which postpones death by just a few months. It’s ouzo on cornflakes time for this website, for the chatroom warriors who knew better it is another wake up call.

#TERN – £0.4m bailout placing at just 2p per share

Tern – Oh Dear, As A Major Investor Seems To Have Thrown In The Towel

Yesterday at 3.22pm AIM-listed jam-tomorrow exercise Tern plc (TERN) announced that its only registered significant shareholder had dumped half of his shares. Of course, as an exercise in folly, I’d say that buying Tern shares is right up there with the best, but it seems now that even the most loyal shareholder is throwing in the towel as Tern’s financial crisis deepens.

Tern – the sky-high expense ratio

Tern (TERN) has a historically high expense ratio. At the interim stage average net assets were £23,531,000 (31 December 2022 £24,852,000 and 30 June 2023 £22,209,000). The administrative expenses for the six months ended 30 June 2023 were £1,052,000. This equates to an annualised expense ratio of 8.9%.

#TERN – completion of $4m tranche one Device Authority fundraise

Tern – Ouzo Time As Device Authority Raises Funds And Tern’s Holding Smashed in Value

It has been clear for some time that AIM-listed jam-tomorrow investment company Tern plc (TERN) is in deep trouble. It is itself running on fumes and its portfolio of cash-guzzlers still needs feeding. This morning the biggest shoe to drop to date landed: its (formerly) jewel in the crown investment into Device Authority has been crunched.

#TERN – Device Authority business “up to US$7.0 million” new equity investment fundraise

Tern – Is There Another Disaster To Come From My Sell Tip For 2023

AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) was my sell tip of the year for 2023. It has had a terrible 2023 so far, but I fear things are set to get worse as the company - and its portfolio of unlisted (apart from Wyld) loss-making cash-guzzlers - struggles with te ongoing cash-crisis. As things stand, I’m pretty sure it is running on fumes and the loan facility allowing it to hawk its shares in Wyld on the joke market in Stockholm seems to have stalled. But there is plenty more to go wrong here…..

Tern – Wyld Q3 2023 results promise jam tomorrow but its another quarter of heavy losses

Tern’s (TERN) second biggest investment, Wyld Networks AB published its Q3 2023 results today. And, of course, they are utterly shite.

#TERN – 75% of holding in Konektio (trading name of InVMA) “transferred to a valueless class of Konektio deferred shares”

BREAKING: further signs of cash crisis at Tern

Make no mistake, Tern (TERN) is now running on vapours and so are a number of its key investments. This is going to end in tears and those tears could be flowing very soon indeed.

Tern – a dismal and deeply unimpressive pre placing attempted ramp

I know Tern (TERN) is running on vapours. You know it and Mr. Market knows it. And as such all that tern can do is issue a wholly meaningless update on its portfolio and hope that the fuckwits who invest in AIM dross buy the shares, pushing them higher and so allowing one last deeply discounted placing to get away, giving it a few more months to limp on. Today’s statement ended with an implausible claim about boss Al Sisto.

#TERN – attempted ramptastic “Company and Portfolio Update” and on CEO Al Sisto’s non-board role

Tern – Won't/Can't fund Konektio Investment so is 75% diluted

As predicted, AIM-listed jam-tomorrow investment company Tern plc (TERN) has failed to meet its investment requirements at investee-dog Konektio. The result is that 75% of its investment is to be converted to worthless deferred stock and it could get worse. In short, it is Ouzo-on-cornflakes this morning.

#TERN – “decided not to invest further in its portfolio company, InVMA… given the business performance”!

Tern – How’s The Funding? I love the smell of a cash crisis in the morning!

How, I wonder, is the funding situation at AIM-listed jam-tomorrow investment company Tern plc (TERN)? Tern, no doubt will tell us that everything is just fine but you and I know that is not the case. For a start, its interim results to June 2023 showed that it was in desperate need of cash and shareholders were pulled to a General Meeting with a gun to their heads to approve plans for new share issuances last month. But there is another issue: Konektio.

Tern Plc – how big a discount will it need to get the forthcoming placing away?

As Tern (TERN) shareholders decide whether or not they will support the proposed issue of 37.5 million new shares as approved at the General Meeting which, at say 5 pence per share (a modest discount to closing mid-price of 5.75 pence per share), would raise £1.875 million before expenses perhaps investors should consider the recent performance of the major investments.

Tern – Is This A Smoking Gun?

Re-reading the announcement from AIM-listed jam-tomorrow investment company Tern plc (TERN), calling a General Meeting to approve the issue of more confetti, I notice that there is a major omission, the significance of which underlines the slam-dunk sell status of this stock for me.