Member Info for rhodi

all the yes voters schmoozed once again and did not have the guts or conviction to believe in the investee companies. capitulated instead of holding fast and making the directors and al take up options or actually sell tern's share in one of the investee businesses. perish the thought of tern employees earning their money and doing a bit of work to enhance shareholder value.

well i was buoyed by the strength and unity in the last vote at the agm. i did not think that so many would fall for the much used need to have funding to strengthen terns hand in negotiating. really thought that shareholders had become more savy. well this will go in an mbo for less than 10p imo. happy to sell all shares starting with some today and should be sold out within a fortnight.

i have no regrets in investing in tern as never invest more than i can afford to lose but you have to realise when the fundamentals may be golden but that those in charge imo are totally inept and just looking at riding the gravy train for as long as possible.

may as well stick my remaining money from here into wyld and an isa. both will return more than tern now and whilst this had £1 written all over it. imo it will not happen with tweedle dee and tweedle dum in charge. they would be incapable of organising a **** up in a brewery judging by all their previous **** ups.

i shall re invest when and if they are every relieved of their duties. gutted that so many shareholders weakened at a critical juncture. i shall not post on here any further as cannot waste energies on sadly a lost cause. revert to form that tern will keep this sp low and rns released equals tern sp drop. it as predictable as night follows day.

Will Tern have any shares in order to subscribe and take part in the subscription? Will they apply for any extra units and if so how many. Or will they just default. They may miss todays cut off date. They make enough botch ups so another would not surprise any shareholder.

Last chance soon to vote No for the upcoming EGM vote. The CEO nor the chairman have changed in their disdain for shareholders imo and if they need money they should do one of the following. A) take up their options and put in their own money as we have all invested in Tern. B) Sell one or two of the shares we hold in the investee companies to save on dilution of the Tern shares further. They will not conceive doing A as that would show they have some faith in the Tern business model, which they avoid at all costs and secondly they hate putting their hands in their own pockets.

With regards to B. They have been saying they need to do this fund raise and the last four fund raises to strengthen their negotiating hand, well we know that is just another giant porky just like all the others they have told us imo. The proof is in all their previous actions and words, easy to substantiate when you look through all the evidence. which also clearly indicates they cannot get a deal done of any real value to the shareholder.

They had to tow the line after the AGM and that was due to them completely discounting the shareholders strength and unity. They made the cuts but the CEO and chairman are still here. We have their statement that costs will be cut by circa 40% but would any of us Tern shareholders trust a word they say. Probably not. Voting yes will let them off the hook. Voting no will keep the shareholder pressure applied .

Most importantly it will stop a cheap MBO which imo has always and is still their plan or in cohorts with a third party to orchestrate same. I hope the shareholders have not been fooled into voting yes until they show more transparency as Wyld Networks have done in showing where they plan to spend the funds raised. If they want to raise funds they may want to raise the share price. Mmmmmm Tern CEO says "computer says NO"

obviously very little on this bb. imo the subject has been discussed adequately on the advfn bb and i will like many shareholders on that board use all my shares to vote "no" really for all the reasons they state. the tern bod for the last 4 fundraises have stated it is to have a stronger hand at negotiating, well that is *******s as we all know.

they have been as transparent as black glass and they still have utter contempt for shareholders as can be seen from their actions post last agm voting. they say that shareholders will get a worse deal if they have to sell one of the investee businesses now. well they said previously that they are in talks on a weekly basis with regards to enquires on the investee businesses, well get phoning around as i do not believe the tern board are capable of getting any deal across the line even a very poor one.

so my advise is let them either sell our share in one of the investee businesses or alternatively purchase their share options to fund tern wages as we have all done over the years. the last vote focused the minds and actions of the tern bod and i see no reason why they should be given the chance to lessen their new found focus by us accepting 10% dilution.

no let the shareholders keep the tern bod on their toes and vote "no" we have taken two steps forward with the last vote. do not allow a "yes" vote to enable ian ritchie to take tern three steps back. good luck all i am buying more shares so that a no vote is carried like last time. all above is my opinion but a "sale " is now required and the owners and other investees will not accept tern selling any of the percentages that they have at a silly price and devaluing the investee business. vote no and save dilution. all shareholders will do as they obviously see fit. mine however is a resounding and emphatic " no".

camkite, you may wish to read my most recent posts (and swear i have not sold any at 4p and certainly not looking to buy any until transparency is shown) hardly positive on tern. investee companies yes, but i have no faith in the tern bod. i continue to hold. i am neither a trader nor will i buy any more until there is a change in leadership. sharebel i could argue the point that you bought on the spike so expect to read you hugely positive posts.

imo i believe that a change in the ceo and other board members may see tern shares and terns future seen in a more positive light.

i have seen many a good mining company reach merely a fraction of the sp it should on a merger or deal or mbo, imo this will go the same way without an egm being called. hold enough shares to be ecstatic if i am proved wrong but as they say. ten years and still jam next year, pires fiasco, otcqb **** up and raising money at often lower and lower levels when the investee companies are so apparently well connected. but good luck to all genuine investors.the share movement should prompt an egm surely.

Well if you ever want to judge a pump and dump. Just look at all the concerted efforts by all the new avatars that have not posted for years. Constant and concerted effort by tern as well to try and increase the sp.

As someone on another board quoted. Would not be surprised if not some members of the board that sold on the spike. It was well pumped as you just needed to see how it was 4 fold that of tern if I remember rightly. THat should have sent alarm bells ringing. I am waiting till end of August and if Sisto is still here by then I will reluctantly sell anyway or if it was to drop below 3p.My rule is never take more than a 66% hit on a share. If I do have to sell then you will see the share price coming down. I do not agree that it will get to the 3p that Jolly Speculator suggests. However my opinion is the same of jolly spectator who never really has a view that the sp will go over 3p. Bobby sockies and Greasy are just as bad at the other end of the spectrum and this has been a very orchestrated pump and dump so guess a few of these new names will be green boxed also. But I would not be surprised to get this right back to where it was.

Imo the board once again are culpable and hopefully the FCA and other bodies will be monitoring this very carefully. Especially the strange buying and selling patterns and fluctuating sps. Mmmmmmmmmmmmm.

Feel for those that got caught on this pump and dump.

Yes indeed. Like advfn those that wish to disrupt/ hide the great news from investee companies really are upping the posts.

They hold no shares and will remain disingenuous in their diatribe till the end. I have to say unlike others I question whether TW is their paymaster, like prior observers of these boards you do question if it comes from closer to home. Tern hardly promote the company and it does help to keep the sp low and tern never show any intervention imo. Anyway many never thought Al would lose his re election and I am sure whatever happens next will probably surprise just as many investors. What will caps locks pr**k on ADVFN and greesy + socks do for a living, more than likely imo they are probably all one of the same. Retirement calls, they may not be the only ones!

As always good luck to the shareholders who at least in the main all seem to be working towards the same aim. Hopefully Tullynessie will be another big holder that changes his previous position. As even he recently stated that he has been given no encouragement from those on the TERN board that they are prepared to listen to the concerns of shareholders.

Good luck to all genuine shareholders on the various boards.

Would be great to read views from other investors whether recent or long term holders. Hardly anything to read on the boards currently as most chats come up as filtered. Bless them.

Yes I cannot concur from the last rns the points raised on advfn either. However more to the point is the time taken nearly ten years and the fact that DA seem to be strategically linked to many highly regarded companies. We have the right to presume that DA has now surpassed breakeven and has past the inflection point imo.

Device authority in Sept should release accts for year end DEC 2022 so that may give us a clearer picture of the progress being made. I have no doubt that if no progress is made by end of Sept re Tern SP then I can see a EGM being called as the shareholders want to see a significant change in the culture of Terns transparency and reporting of news and of an underperforming sp. Below NAV currently is simply unacceptable for the sp. I am certainly in no doubt that certain shareholders are buying shares imo to ensure that once again the shareholders can carry out changes so that positive actions can prevail. If the TERN board is serious in trying to gain positivity and a good word from shareholders it would need only to get the sp to a reasonable level that they attained two years ago circa 20p, otherwise I can see an EGM causing the company further embarrassment regretfully.

Good luck to all holders.

Yes today was a great result as it shows to other investors that you can force change as a last resort. However it is not like you Camkite to be disingenuous and say Al has done FA for ten years. I think he deserves a large amount of credit but through ill advise or his own misjudgement he has paid a price for decisions and direction for the last 18 months imo. Further more that could have been easily avoided. FD not without some culpability imo and many of the fund raises have been very poor for what ever reason and again shows a disconnect to what we are being lead to believe. This last one no different. If Sisto and those on the BOD had taken up some of their options at 4.5p it would imo have created a positivity. They could have raised £ 300 000 with less associated costs. It would have sent a positive message to all concerned, and mainly to the stock market, it would have been a win win for all. They had the chance to make a real statement of intent which would have avoided todays unfortunate action.

Added to which it is useful prerequisite that they should have an inclination to willingly purchase or already hold shares. Best post of the day from Ricardox on advfn. No shareholder wanted to take this course of action but as many have stated. There simply was no alternative. A change in management was desperately required to implement a positive shift in style that will benefit all shareholders and not just themselves.

The statement in todays rns "the board is committed to continuing an open dialogue... blah de blah.....to understand their views and/or any specific concerns" This illustrates just how they have had no dialogue nor understood the concerns of the shareholders. A big disconnect just like the share price and the common thread lack of dialogue , transparency and a certain arrogance as shown in the application for the OTCQB and the Pires debacle, A share that approx 6 months ago our board was offering 8p with no justification to shareholders and yesterday when I saw Pires results and a loss and worse an sp of 1.85 p. Somebody was badly informed as to the merits of the deal and fortunately thanks to the no vote Tern was saved from a shambles occurring. I actually voted for the deal as I have always had faith in Sisto, however again any benefits that might have been available to Tern were lost due to Sisto's secrecy and non transparent policies. The two examples cost this company a pretty penny that Tern can ill afford to squander so recklessly.

Matthew Scherba only just got re appointed and I believe he was very luck too and would probably not have done but for certain posters that stated he was not on Terns payroll at present.

I was amazed when the Chairman stated along the lines in the last Q and A that he would not be wanting to stay if Al Sisto was voted out. Rather childish remark imo and certainly not the positivity nor reaction I would expect from a Chairman. Ian Ritchie must still feel the same and I would expect a quick rns stating his resignation to avoid himself from becoming a laughing stock after what he stated. Certainly imo Ian Ritchie has lost all credibility to carry out any negotiations on behalf of Tern going forward and obviously does not agree with the majority of the shareholders decision. His position seems almost untenable imo, but it will be interesting to see what communications are issued in the coming days and weeks.

Lastly thanks Al Sisto for your previous great contribution and guidance and contacts. However as many have stated on various BB's, the position of Tern and the investee companies has changed and the board have not adapted accordingly. I do not believe that Al Sisto has been helped or guided by the board as he should have been. Good luck to all holders and may those that remain or join the BOD at TERN have the foresight/adaptability to forge a new/first relationship with shareholders and open up meaningful dialogue and more transparency. Disharmony and distrust serves neither sid

If you think my factual posts that you describe as whining are putting potential investors off then I am happy to not post until the 29th of May. If it is true that it is possible then you have over two weeks to post all the positives and great news flow of Tern to get potential holders to join. Let us see if you can rise to the challenge. In fact anyone that knows of any positives for Tern please all post. Lets get the SP up to at least Nav. I mean seriously sp below NAV is unheard of, not even a modicum of any goodwill translated into the sp.

Over to you Antelope, this is my last post. I really hope you can get it above Nav. Then you have the credentials to be the next CEO, just try and sustain it. Your time starts now, good luck!!

We have all waited for a percentage rise like LEND today and we had a (p rise in a day a few years ago. We now need 2 days like that to get in the 20's. Can anybody currently say they can envisage that happening under the current stewardship in the next 18 months as I do not.

I cannot even see double figures sadly in the next 12mths under the current regime. Todays sp once again indicates that neither the city, nor the shareholders are happy with yesterdays rns and Q and A session, if you can call it that. Very sad as it is like having the lucky lotto ticket, yet a CEO who is reluctant to cash it in until the value has expired and is eventually worthless. Sometimes you get caught between a rock and a hard place created by your own doing imo, cannot really blame shareholders. We would all be promoting the investee businesses in their current states. Without the likes of Andrea B and Tullynessie and many other great ADVFN contributors this share would be completely in the dark and off the radar normally associated with MBO. imo it is no wonder he hates shareholders who continue to highlight how well the investee companies and their respective boards and staff are doing.

perhaps no co-incidence that Terns role is becoming less at the same time in many of the investee companies imo. On the plus side I will soon know if I shall continue to hold tern shares or not. Role on the 29th of June.

Parrisf to answer you first, reason so little reported is that they avoided any pertinent questions put to them, usual flannel so yes nothing to report. They are the first bod to blame the sp on the shareholders. Need say no more. Except to say we are alot like copl. Their BOD like tern's BOD exemplify the saying that "talk is cheap".

Antelope, just to clarify it was answered in my post on 11th June 23.40. Sorry you could not assimilate it so here it is again" what it means is those that are left will have to earn their keep" Thought that was obvious but to elaborate it means that Bruce Leith and Sarah Payne will have to "work a little" to find a suitable replacement dependent on what Terns articles of association state in the event of such an eventuality happening. Many companies must survive such votes unless you are suggesting no CEO and Chairman's have ever been voted out? Sorry you missed my reply and yes I had very limited education. A level passes in Business studies, English literature, Advanced Maths and Latin only I am afraid, no degrees but I have done okay for myself.

As to a vc yes I can point you towards this link seedcamp with 9 European unicorns. Cannot say they have the same business model as it was impossible to find a VC that does not promote the achievements of it's investee companies or who's business model is to fund raise at progressively lower prices and to achieve no exits of any worth after such time scales. It really is difficult to find I am afraid but take a look at this one anyway, no doubt they seem to be much better at creating value.https://seedcamp.com/

You are more than welcome to block me, I wont lose any sleep. You on the other hand might. If Al or the chairman are voted out. Will you sell your shares. If they stay I will be selling mine. Imo that is why I have done okay in life as I don't waste time on flogging a dead horse. If on having tried to effect positive change and failed, then I move on and imo only fresh blood will bring about a more positive and proactive approach to creating shareholder value. Deep down I believe Antelope you know it but you probably might be overexposed so judgement becomes clouded that is why I never invest more than I can afford to lose. I made that mistake once but I learnt from it. Good Luck Antelope.

exercisable at under 7p. what a ****in joke that is. shareholders diluted into oblivion. i should think anyone that was looking to vote for al and the chairman's re election must now be firmly in the "vote them out camp" after such a poor financial proposal.

if that is the best they can negotiate then it is obvious why we have not managed to negotiate any exits. lets ask who is financing this as smells decidedly iffy imo. nefabeta01, you are right keep them well clear of the school tuck shop.... they couldn't help but shaft it. they must be laughing there heads of currently but lets see if they are still laughing after the agm

You still have not given me any reasons for why Al Sisto and chums should be re elected. Have you read the end year report for Tern. Have you counted up the numerous contradictions to what the board says and that of their actions. No one needs to sound important on this board, what it means is those that are left will have to earn their keep.

The massive disruption you speak of Antelope. Are you referring to the possibility of us not meeting deadlines and time scales and no transparency like the application for OTCQB. Perhaps you are meaning instead of waiting 2 quarters we are waiting 8 quarters for shareholder value. Maybe you are speaking of our precious cash reserves not being wasted on another Pires styled fiasco or getting further advisors for our OTCQB application. More disruptive than the board believing that we are undervalued yet not one of them will purchase their options at 4.5p. Yes I would hate to lose personnel that are so passionate for the business they represent.Could the new incumbent in a year when we were told it would be a great year for shareholders then produce accounts showing a loss of a third of our Nav value in 12 months and an even bigger percentage on the sp. Yes that sort of disruption would be hard to swallow

Well Antelope just vote for their re election, after all there is something amusing about misguided loyalty and your reasons to keep them are totally reasonable if as a share holder you have just been released from the funny farm. That is the beauty of democracy and voting. You are obviously impressed that Al has carried all that he has said and kept us up to date and well informed.

I think there must be two different Tern's as I don't see what you see. Good Luck Antelope if Al gets re elected. IMO you will need it. I will not because I will be sold out as will a fair few others. You can fill your boots even cheaper than the Tern price currently on the exodus of others that have had enough of smoke and mirrors and cheap as chip fundraisers.

Once I have sold I will not frequent the board at all. But I hope that most shareholders see what I see and vote as they see fit. I can take a 50% hit and sell up so I count my lucky stars as others are not as fortunate and I sympathise with those holders. I guess the lesson learnt is 3 years could be 8 years, 10 years or perhaps even never.

if you can give me any reasons to hear why al sisto and the chairman should be re elected then happy to hear them. and before you say he is good at spotting and developing businesses as i once thought then let me say this. where is the exit and before anyone says covid has delayed the growth, *******s. each of the disruptive technologies has benefitted from the working patterns etc that covid forced on society. i could list them but to numerous to mention.

by the way i have no doubt that the investee businesses are doing very well. but that should be reflected in our sp and if it does dilution becomes less of an evil. if it does not reflect in sp then why not ? speak with al or sarah or bl or the chairman. then report back on the board. i say this merely to prove a point.

Antelope you surprise me. The process is there for the very reason that Tern shareholders find themselves in. Quite frankly if a new CEO came in and asset stripped Tern so that we get multiples of what the sp currently is then that is fine by me.

If a new CEO actually wants to create a dialogue with the shareholders that is honest, factual and transparent then that imo is better for shareholders. A new CEO may actually adopt a strategy that dare I say will have to be different, as after 8 years Al Sisto's strategy has not worked, he has not even met his own timelines nor indeed his stated aims (see previous post). A new CEO might even consider that we can lose some personnel. I have to say I struggle to see how the CEO and others on the board can be rewarded as they are when the share price is on the floor. Nav has lost a third in the last year.

There is a disconnect between the share price and what the CEO has portrayed the stages that investee businesses are supposedly at.

Antelope, if you want further years in total disarray then imo you should vote to keep Al Sisto and the chairman in place. Ask some tough questions of what has happened. Pires and otcqb very expensive failures and no transparency on either. More smoke and mirrors than a night at the disco in the 70's.

Antelope, you have always struck me as intelligent and reasonable in your posts so I hope this helps answer your questions. Lastly everything that I have ever heard from other Tern holders and from the actions of the CEO it seems fair to say he has utter contempt for shareholders imo. You may want to ask yourself why does he detest shareholders so much. It is not always best to have the devil you know, change is hugely required. You will get platitudes a plenty from them. Gravy trains eventually come of the rails. All shareholders have this one chance to vote. I just hope that apathy and fear of the unknown does not trump over accepting the very poor leadership we currently are witnessing. The SP does not lie, it really is that simple.

Voted against all resolutions as the record quite clearly shows imo that shareholders have been mislead at best and lied to at worst. ( if you want any proof just read advfn board).So using my vote to hopefully remove ceo and chairman. I have voted against all resolutions.

Good luck Swanny. Would be great to know which way you may be voting. I have been in communication with small and large holders of Tern shares and the Pires fiasco really topped the otcqb debacle and" just two more quarters" topped every other porky ever heard across these boards over the years.

When they raised money at 18.8p they had the opportunity to raise at the time double the amount which many shareholders felt they should have. Since then they have raised at pitiful amounts. Just sad that Sarah Payne is not up for re election as I would be voting against that resolution also. PS I detest shorter's and those that suggest I apparently must have an alternative motive to keep Al and chums in office imo, maybe they want to see more years of a faltering sp and repeated dilution.

Hard to take advise from those posters that have admitted they have no skin in the game but post the most frequently mr blobby socks. I need say no more. There are a group that are casting their votes last minute....should be game changing. blobby socks and Greesy boys days are numbered here as change is coming and you did not want that.

Watch this sp double or treble imo after the results of resolutions are announced at the AGM. I do believe some of the group are even buying today. AGM will stand for" a great move"!!!

Mixed thoughts on this. I like the idea that we have a large investor with refineries etc and one expects that they have had access to drill results etc so that they have done due diligence. So for the long term hopefully good. Short as in the next two months I could see the sp going back to the placing price of 22p or just below as it always invariably does and we will have a large overhang of shares potentially that could stem any rises. I will not buy at these prices as I am expecting the usual fall back when the 20% extra shares are admitted to the market on the 6th of June. I have £4000 set aside to spend and will try and acquire more rock shares at placement price. Certainly interesting. GL all rocksters.

..on here and advfn are using their votes wisely to vote out Al Sisto and chums. Certainly seems unanimous that now is the time for change as the sp dictates that Al Sisto and current incumbents are not up to the job. This last year end highlights their failings. New blood required to orchestrate a positivity around what Tern's fabulous investee companies are achieving and to raise the Tern sp from the depths of despair. No apathy on this vote as we will need everyone to register their vote to get the change needed.