Member Info for Theanalyzer

Nbul1. It’s more likely to crash than fly. £100,000 cash burn a month. Under 6 months to next placing. Tick Tock.

Ordinary timetable for interims would be 3 months, if they take advantage of COVID rules it’s 4 months

Dec 20 already published

Nbul1 At end of June ie just over two weeks ago you were saying you would hold until 20 pence per share, now you are down to 5 pence per share. Why did you slash your price target.? This is just one example to show how you post complete and utter unsupported nonsense to try and ramp the share price. I hope you don’t lose too much of your and others peoples money in this poorly performing company. We all by shares we live to regret.

nbul1. I predict a placing before Christmas as company runs out of cash again.. if there is a vaccine passport and it’s a bit if in my view why would the govt choose a tiny loss making AIM company to run it (assuming there are no cabinet member friends or relations involved).

Strong pre open trading update on Darttrace a cyber security ai firm this am with huge growth in revenue

I wonder if there is read across to Tern stake in Device Authority revenues?

Antelope thank you for detailed reply. Your comment on SAAS revenues was an interesting point about why multiple of revenue should be relevant metric for DA.

So Tern issued an RNS for a £0.4 million three year contract win for Fundamental VR but nothing that large is occurring at DA that merits an RNS such as a revenue increase at DA but suddenly DA is now worth multiples of its assessed fair value in year end accounts of £12.8 million.

Hmm.

Either rough and tumble is trading on inside information claiming that 4 NDAs have been signed or committing market abuse.

If Tern is going to sell DA for multiples of Tern’s market cap why no RNS from Tern about portfolio developments?

They made a bit song and dance about Wyld which is valued at well under £10 million.

The. old BOD didn’t own a single share between them so they won’t impact the vote.

Bradley123. I have stated why I think CTEA is a poor quality company. Rather than implying that I am negative because of losses why don’t you make a positive case?

Bradley

My loss on CTEA was equivalent to your IQ ie Nil.

Nbu1 Target price 6p - LOL

Don’t believe the Hype(neth).

The price will drop further when next placing is needed before Christmas. The cash burn is £100,000 per month and cash left is.under £500,000 (net assets were £1 million at March less £270,000 for Hyperneth and 3 months cash burn to end of June 2021.

Cannot Reccomend A Purchase.

I don’t think Ganfeng will have gone to effort of a placing and getting permission from Chinese authorities to remit cash only to change their minds about bidding.

Whether the Shareholders will accept this bid price may soon be the key battleground.

I suspect changing year end for the Bermuda insurer would result in a lot more work to generate year end numbers than changing ALGW is my take.

Nbul1. I admire your ramping enthusiasm why not try some other rampy words like Hang to your Golden Tickets, CTEA to the moon. etc I can’t buy is getting a bit stale LOL

Antelope.

In determining the fair value of DA that the Directors and the valuers did consider the metrics you refer to such as recent transaction multiples in similar companies and 2021 sales forecasts as it says in Tern’s own accounts. They were not looking at the prior year’s figures. The valuation isn’t a historic revenue multiple due to rapid growth that occurs in tech sector which the Directors know and understand.

Anyway good luck.

Antelope. All Tern’s investee companies are valued as Level 3 assets under IFRS 13 which means that there is significant judgement in the estimated value. So you are right that the final sales value could be higher or lower than the Directors current estimated value reflected in the accounts.

However your assuming even though you don’t know revenue or results or forecasts for the DA business your right in valuing DA at 3 times what the Directors and their independent experts did who did have access to such data.

Bold given that Wyld trades below what Directors valued it prior to IPO atnd not 3 times that price which is what you are assuming implicit in Tern market cap to net assets recording investee companies at fair value not cost.

Antelope.

Tern use fair value accounting and used an independent valuer to value DA in last accounts at their estimate of market value so your net asset point is I am afraid wrong.

On your tax point there is a substantial shareholder tax exemption if you a company owns more than 10% of a company you don’t pay corporation tax on its disposal so your tax point is wrong.

Finally Tern don’t have to indicate every minor daily change in valuation but if there is a material upward or downward revaluation relative to Tern portfolio overall then I would expect an RNS like FIPP announced recently on investee companies.

Good luck with your investment.

If DA is worth so much, why isn’t that reflected in Tern valuation of DA in the Tern accounts as signed off by Directors as being DA’s fair value?

If DA’s value has gone up massively since last valuation why no RNS to that effect?

Nbu1. Positive results RNS. Lol. Do you actually look at results this company reports. Tiny revenue, large costs and losses every time. I