Member Info for BobsSocks

Original from cision here,

https://news.cision.com/wyld-networks/r/wyld-networks-and-brinja-sign-agreement-to-deploy-satellite-iot-solutions-in-sweden,c3553359

As an investor in Tern kkrriiss has a few problems getting their head around technology. Still it's marginally better than Sweepie who does not bother linking to the article and streets ahead of Rhodi who will tell you that his mate down the pub who fixes his printer so knows about computurz is fully invested.

From Tony on ADVFN

"It looks like the WYLD connect IOT module cost £425.00 each , how many are we expected to sell over next 3 years , I think 30 million was quoted by WYLD 30 million x £425.00 = 12 billion 750 million pounds over next 3 years plus monthly fees Ok that not all profit , but I’m dam sure we are not giving them away at cost Many pounds coming our way boy’s and girls"

Mr Williamson really needs to step up and clarify the use case and coverage for these devices before the ramping idiots on ADVFN and perhaps those here make him look like a shady character. I remember Ridicule exiting stage left after a claimed lunch with Mr Williamson that prompted Mr Bombast to make stupid claims. This really needs to be pinched in the bud.

"Lets be clear I fully appreciate what Al Sisto seems to have achieved but without having evidence to corroborate this as in numbers and positive media then we will never be enjoying an SP where it should be. The OTCQB is just another example of this.

The death earlier this year of a holder on ADVFN made the above points even more profound. He has missed out and perhaps even his family on what is a miss match of sp to current value of the investee companies due to the very little information that is given. "

Well if you wish to be clear the full story is that the investor wished to preserve their pipe dream after their death by preventing their family from realising the asset, irrespective of their needs and/or privation as a result of that pipe dream , until the SP hit some arbitrary and likely fantasy figure.

That sort of mentality, dare I say driven by rampers such as yourself, beggars belief.

"If you can't see what's happening here, then more fool you."

Don't trust me but I can see noises of activity that might point towards something but statements such as "DA growing exponentially with handsome numbers" don't cut the mustard when there are no numbers.

If you are prepared to sit on that bandwagon then more fool yourself and more fool those who are taken in by it.

Thanks for suggesting I was being disingenuous. You would do that wouldn't you.

The fact that another 1999 companies have also been moved off the Pink Markets onto the Expert Market presumably for a lack of accounting transparency does not make the picture any brighter for Tern. OTCBB, their target, requires a higher standard of transparency compared to the Pink Markets but they have been kicked out of Pink into Expert where the standard is even lower.

Rather than sniping why don't you try to paint a better picture because for the moment I don't see one.

I did wonder if this change was organisational in that the Pink Markets had been superceded by the Expert Markets and as such it was an apples to pears event however from,

https://blog.otcmarkets.com/2021/03/25/understanding-the-expert-market/

"How are Companies affected by these Changes?

The answer to this depends on the market on which your securities trade. In order to be quoted by broker-dealers on the Pink Market, a company must provide current public disclosure on an ongoing basis. This may include disclosure provided via the SEC’s EDGAR filing system, through a non-U.S. stock exchange or regulator, or to OTC Markets Group directly via our OTCIQ platform. Companies that do not take the necessary steps to make current disclosure available pursuant to the Pink Current or Pink Limited Guidelines may migrate to the Expert Market. Visit the Information for Pink Companies section of our website for further details."

It would seem that they have been removed, downgraded, from the Pink Markets to the Expert Market as a result of a failure to provide sufficient disclosure about their business via the relevant channels. In terms of the prospect of an OTCB listing this definitely appears to be a move in the wrong direction.

That's quite a find.

https://www.otcmarkets.com/stock/TERNF/overview

"Warning! This security is traded on the Expert Market

The Expert MarketSM serves broker-dealer pricing and investor best execution needs. Quotations in Expert Market securities are restricted from public viewing. OTC Markets Group may designate securities for quoting on the Expert Market when it is *not able to confirm that the company is making current information publicly available* under SEC Rule 15c2-11, or when the security is otherwise restricted from public quoting. See additional information about the Expert Market here."

https://blog.otcmarkets.com/2021/03/25/understanding-the-expert-market/

"The SEC’s amendments to Rule 15c2-11 go into effect on September 28, 2021 and will effectively eliminate public broker-dealer quoting in securities of issuers that *do not make current information publicly available*. Giving effect to the SEC’s stated goals of encouraging public company disclosure, OTC Markets Group will use its Expert Market SM as a venue for broker-dealers to publish unsolicited quotes representing customer limit orders in “No Information” securities."

Presumably it is a result of Terns inability to report on the real performance of the companies they are invested in.

*“No Information” securities."*

But you knew Tern was a *No Meaningful Information Company* so no surprises there.

Oh look. Still Waiting has crawled out of his Ponzi Thread over on ADVFN to pollute the purity of LSE. No doubt Rhodi will be along soon to slap him down with a warning that he is about to get Green Boxed. Don't forget now folks. Still Waiting regularly claims that the 100% global coverage offered by Wyld is broadband and they will be bought up by Apple or SpaceX to deliver your ASCII pron. Basically the man is a purveyor of unsubstantiated guff who advertises cryptocurrency.

"Not long till the first offer for DA [Six Years of Asking]

"As Darren said years ago, “Use us or do nothing”. Not forgetting that 70% of our business is said to be with Microsoft."

I believe you will find that Darren was referring to Device Authorities ability to deal with legacy devices based on a Patent that is only in force within perhaps three EU countries. It is a small and diminishing subset of the overall market. For all the other use cases there are technologies available that are not proprietary to Device Authority, for example the often quoted FDO/FIDO standard which is open source, along with other competitors.

I am not trying to detract from the fact that Device Authority have acted to incorporate such technologies into their offerings and widely partnered with others within the ecosystem and received praise for their efforts. However the constant message that they are the be all and end all of IOT security is a broken fallacy spun by people invested in the bubble.

More of your usual misleading rubbish Rhodi.

https://pomanda.com/company/04676191/device-authority-ltd

"annual sales of £6.8m, make it larger than the average"

The £6.8 million turnover figure is flagged by the site as being "This information is not publicly available so Pomanda has estimated it." In other words they made up some numbers and either you fell for it or you hoped you could get away with just blindly linking to what is at best questionable information.

That's typical behaviour from you when you are not talking about your mates down the pub or the conversations you have had with the bloke who fixes your printer.

Here's a good idea Rhodi.

Next time you pretend to have bought and claim a random from the reported trade list tell your broker you want to buy at offer and have it reported as being bought at offer then your ambiguous claims will be just as ambiguous.

Same applies to your random mates from the pub that apparently have insight beyond your own and your last big carp experience. Assuming any credibility you are likely to be sitting on heavy losses and still be buying them imaginary pints.

Oh the Irony.

Still Waiting, the Prima Donna of the Still Ramping thread over on ADVFN, bans Sweepie from his thread and ends up chasing after Sweepie on the LSE thread to carry on ramping.

BTW, as is often mentioned to Still Ramping on the ADVFN thread DA have no hold in terms of patents over FIDO because FIDO is an open standard that specifically requires wavers on IP subject to incorporation in the associated standard.

Thanks for taking the time to drop in and spread your misinformation. Now you have been called for it go crawl back up your hole.

You paint yourself as a day trader and/or spread better then rip your zipper down and expose your prospective 51K trades in the expectation of some price action. Has anyone mentioned to you, and your supposed mates, that you are a bunch of ineffectual nothings.

"If any investor bothered to get in touch with IOT security computer consultants then you would realize that Keyscaler is being deployed en mass and that the latest drop was manufactured for obvious reasons. "

Quite incredible.

Care to name and shame any IOT security consultants you have contacted along with their comments or should I just assume you spoke to a bloke down the pub who foolishly agreed to remove teamviewer from your computer and you have been badgering them ever since every time your printer runs out of cyan.

As far as I am aware or indeed care DA has received praise from various public sources more qualified than your barber but the result has been no sale backed up with no indication of cash rolling in. However what I might be really interested in is what the obvious reasons are that the drop was manufactured beyond the fact it was not manufactured but it happened as a result of a placing equivalent that just drove home the point that DA is not cash positive, not likely to be so for some time and unlikely to be snapped up for $Billions any time in the near future, if ever.

Please do inform us ill researched low life why you think the drop was manufactured rather than just floating some words and then filtering anyone who might ask for your reasoning. Otherwise I might have to conclude you have nothing to say.

Probably not but the average Tern investor/ramper is immune to the repeated bigged up past failures and the associated losses in order to concentrate on the next Rodney event. Would you expect Alastair to be any different?

I'm surprised Sweepie lasted so long over on Still Waiting's ADVFN thread. He should have been more lick buttocks like yourself as Kkrr11ss2 on the same forum. Apparently Black Nyms do matter as long as you post on message. Still. At least you get to announce you have applied your all powerful filter button with the required disdain. I don't filter people or shout about it because whilst I might read it I don't have to pay any attention to their or your opinion and I certainly take a dim view of people such as yourself proclaiming someone else as being filtered in the troll expectation that I should pay any more attention to you whilst ignoring them.

"doubt loans every intended to be repaid"

That just about sums it up.

If you think of them as being part of The Aim Casino and representative of Table Stakes then tossing them into the Game doesn't suggest you have a very strong hand.

Personal or unsubstantiated the quote still chose to omit it. As you have done I'm sure others are capable of reading the words and coming to their own conclusions.

By the way this latest InVMA deal follows the pattern of the last Device Authority deal and if you check back on Wyld and Fundamental VR the format was also the same. Conversion of loan notes to equity, some cash added in on top to maintain a certain level of holding, cash from other parties and a rationalisation of the share structure.

Stop reading now :-)

Another theory would be that these series of deals have been structured in this way in order to minimise the amount of real cash Tern have been required to pay in to maintain their stake whilst still seeing fresh investment. As such they have avoided or rather delayed their return to the markets for a further placing.

If the associated Portfolio companies would have been self sustaining or were to become so then those loans might have been paid back to Tern strengthening their balance sheet allowing investment elsewhere. They are however a one shot cannon. When the cord is pulled the money has gone.

Having used up that particular ammunition what are the chances that they will have to return to the markets should the need for further funding arise and they wish to maintain the level of holding?

I see kkrriiss has cross-pollinated my post to the 'other place', 22 up-votes, whilst selectively removing the last paragraph expressing concerns about the ability of Tern to finance its portfolio companies. A post from there seems equally relevant given stated concerns as to how cheap the Venafi buy in was,

"Venafi might have seemed cheap but you lot seem to be missing the constraints placed on the deal by available funding from Tern, Alsop Louie and SamenUK. That comprised their cash in hand, the loan notes and the desire to maintain a majority holding in Device Authority by Tern. Without coming back to the markets for a further fund raise that capped the amount Tern was able to invest and similarly capped the amount Venafi was permitted to invest. It is also likely that it constrained the perceived overall valuation of the company."

Here's a good idea kkrriiss. Next time you quote me do so in full otherwise I and others will get the impression you are not a trustworthy source.

Unless I missed it. No-one else has mentioned that Device Authority have posted a number of updates to Companies House.

https://find-and-update.company-information.service.gov.uk/company/04676191/filing-history

You will notice that all charges against the company have been marked as satisfied. To me that's significant. Not so much for the negative implication that this exercise has be a capital raise by Tern in other terms for which they have been quite rightly hammered but because, and I will assume that Venafi insisted on this, Device Authority gains back control of its intellectual property. It places the company in a much better position for the sale you have all been gagging for.

Having speculated on that one I also note that the Memorandum and Articles of Association includes terms such as Tag Along and Drag along which would relate to the sale of the company but those terms have been in place in previous similar statements and given they did not result in anything then they need not mean anything now.

Again the only overall positive takeout I get from this is Device Authority, having regained full rights to its IP and having rationalized its share structure, is in a better place for a sale. Of course the big negative is that you are not invested in Device Authority. You are invested in Tern and the nature of the deal that was struck suggests Tern is not in a position to finance its portfolio companies on a forward going basis without returning to the market for more cash.