Mirriad Advertising Share Discussion Threads

[last of the mohicans] 21/9/2024 20:28

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LOTM

[last of the mohicans] 21/9/2024 20:07

From a post of mine on 10th Sept .........

"First of all some facts, from various official RNS's

31st Dec 2023 Cash Balance £6.1M

End of Mar 2024 Cash Balance £4.5M

End of April 2024 Cash Balance £3.9M

May 2024 Share Placing raised £6.3M net

We know there is very little in the way of revenue going to show up in the books from the end of April until the end of June, so the end of June cash figure in the accounts will give us a pretty good indication of what the true monthly burn rate of cash currently is.

So pay particular attention to that number when it comes out, the doomsayers are expecting the cash balance to be around £8.2M net at the end of June & if there is an August figure in there around the £6.4M mark.

The more optimistic view would be for the June figure to be around £8.8M net & the August one around £7.5M

So with just over 1 Billion shares in issue its very likely that Mirriad's market cap is less than the cash it has in the bank as I write this....... "

- - - - - - -

So if you go by the doomsayers views of how bad things truly are at Mirriad then at the end of Sept cash would be down to around £5.5 - 5.6M. Against a Market Cap of just £4M

The more optimistic amongst us would be looking for Mirriad to still have around £6.8M in the bank at the end of Sept.

Mirriad certainly have a history of under delivering, so you'll have to adjust the Broker research note somewhat, but they only expected £4M of revenue in 2024 (anything from Upfronts would count as an upside bonus). On there projections Mirriad will reach breakeven on a month by month basis in 2025 & end 2025 with over £2M still in the bank & with no additional funds required to do so ........ So there is certainly some wiggle room on those numbers regarding avoiding a further fund raise.

What is the new future revenue number ? how much has it changed since the early June figure of £3M & in what way ....

Any Visibility from Upfront's yet ?

Have they finally signed up any of the other 48% of USA content providers they were talking to ....... & if not are they still expected to sign agreements before the end of the year?

Have any of those 5 Third parties achieve end to end Programmatic yet ........ & what's the new timeframe for doing so given things are 3 months plus behind schedule

Is the Diverse Market Place fully functional now .........

What effect is the Diverse Media Alliance having on the Business ...

What effect has the implementation of "Measurement" had on advertisers uptake of VPP

Lots of potential positives in the list above but they may not want to have them in the interim along with the poor 1st half revenue number, which will be the headline maker.

LOTM

[last of the mohicans] 21/9/2024 20:06

hmm looks like work has finally started on tidying up the company website etc ..... preparations for a new beginning perhaps .........

Of note .........

Mirriad Advertising plc has 1,032,600,894 Ordinary Shares of £0.00001 in issue. Of these 29.1% are not in public hands.

Significant Shareholders as at 27th August 2024

Name Number of Ordinary Shares Held % of issued Ordinary Shares Capital

Rathbones Investment Management Limited 165,047,202 15.98%
M&G Investments 117,878,683 11.42%
Arbuthnot Latham (Nominees) Limited 73,853,277 7.15%
Schroder & Co Bank AG (Dr JS Milner) 40,000,000 3.87%
Hargreaves Lansdown, stockbrokers (EO) 34,887,677 3.38%
IP Group* 34,431,534 3.33%

Executive Directors
Stephan Beringer (CEO) 4,391,666 0.43%
James Black (Chair) 8,240,000 0.80%
Nic Hellyer (CFO) 1,600,000 0.15%

Non-executive Directors
John Pearson 1,594,999 0.15%
Bob Head 1,918,600 0.19%
Total Director Holdings 17,745,265 1.72%

LOTM

[last of the mohicans] 20/9/2024 19:37

For the record I bought another 850,000 in 3 trades in the last one & a half hours including the last 2 trades of the day.

So I'm now at 9.6M which is roughly 0.95% of the company.

Why did I not wait until Monday ? well due to unforeseen circumstances, I will now be totally incommunicado during the trading day, which is highly frustrating & not something I wanted to happen, its probably the last thing I wanted to happen, but something I really don't have a choice over. Such is life

LOTM

[last of the mohicans] 19/9/2024 19:14

Hi 2phevs,

I was going to buy more shares ahead of Monday, but I have decided not to & on reflection possibly should have held off doing so on my last purchase until then to.

There will only be a couple of key pointers in the release as to what is truly happening with Mirriad, the cash balance at various points of time & this future revenue number they started using at possibly various points in time to.

The cash balance is easy to use & work out the cash burn rate etc.

The future revenue number, well on reflection, it is going to cause mayhem on Monday & here's why.

You'll remember the long discussion on it at the AGM & how it works in principle. We'll other than you & me there will be less than a handful of people outside the inner workings of the company who actually know the true facts about it (if any at all in actual fact because they weren't there to ask the right questions).

So those who don't have the correct methodology are going to make assumptions that simply aren't true when trying to decide what looks like a good number & what doesn't .............. & if one number is lower than a previous one OMG confusion dot com will reign supreme ..... & people will do the completely wrong thing & provider either a buying or selling opportunity in the market.

I've worked out that without the following data even you & I will be hard pushed to calculate a likely revenue number for the year & whether they are on target to meet the broker report number etc or not.........

The 1st key number we need is that Q1 revenue number. Without it, we will be in educated guess mode within a pretty limited revenue range.

The next key number we need is the future revenue number at the end of June.

The future revenue number as at the end of August would be useful as well.

Next the failure rate in % terms (to date in 2024) of turning future revenue expectations (the number quoted) into actual revenue that shows up in Mirriad's bank accounts.

Next the future revenue number for just the next 6 months, (or to end Dec would be even better).

Any potential revenue number's for "upfronts" which is again totally separate to the future revenue ones.

Going to be a busy hour of calculations to do before the market opens at 8am on Monday that's for sure.

LOTM

[last of the mohicans] 19/9/2024 19:12

Hi 2phevs,

I'm guessing we won't get too much colour to this announcement, as the headline number is going to be awful & putting any good news in it would be a waste of time as it will get drowned out by the 30%+ revenue decline that occurred. I'd like to see a break-down of the Q1 & Q2 revenue numbers, but I doubt they will want to share that info given how secretive the executive directors like to be.

This is there chance to draw a line in the sand, get it over & done with & then start to look to the future. They've already made another massive blunder by taking so long to get the accounts ready for release. I doubt there will be any Proactive Investor interviews happening, or LSE ones either for that matter, back to radio silence for a few days/weeks. I doubt they'll be wanting to speak to shareholders in the wake of the numbers either.

So I guess the 2 number that will be the most important in the release are the cash in bank at end of June number (& possibly the end of August one as well) & the future revenue number possible from the end of June or hopefully something more up to date than that even (end of August). At least that will give us a tiny bit of visibility into what is actually happening business wise........


LOTM

[last of the mohicans] 18/9/2024 11:08

For the record just bought another 650,000 at 0.449p

Total is now at 8.75M shares

LOTM

[tickboo] 18/9/2024 11:05

Oh dear. Interim results without a webinar. Something surely up.

[last of the mohicans] 17/9/2024 12:28

The company hasn't said a single official thing of note since the day of the AGM ( & the EX Chairman leaving certainly isn't a thing of note that's for sure).

There are just 9 normal working days (Mon - Fri) left in the 3rd Quarter, so we're now well into the 12th week of total radio silence.

Which is an absolutely appalling way to treat your shareholders, especially when there has been at least one note worthy piece of news that the company chose not to RNS (formation of the Diverse Media Alliance or even Measurement which seems to have been an important requirement).

So I think its time Private shareholders sent a strong message to Mirriad's Directors.

So I hope those reading the BB will send in an email to [e-mail] before the end of the week along the following lines.....

Dear Board of Directors,

I am writing to let you know that I am appalled by the total lack of engagement that has occurred in the last year plus from Mirriad towards its private shareholders, during that time we have been kept virtually in the dark & any statements made from the executive directors have failed to delivery on what was said & not to mention the disastrous effect that has had on the share price as well.

I intend to join like minded private shareholders in coming together to ensure that we are fully informed of events going forward & that the board of directors complies with those wishes.

Therefore from now on, the company will shortly after the end of each quarter release, the approximate cash balance figure from the end of the previous quarter, as well as the approximate sales figure for that quarter and also the pipeline figure for the next 3 months, 6 months & a year. (you can decide if this figure includes or excludes "upfront" revenues from it). To be clear these are not official quarterly reports, just updates which give us key pieces of data to judge the progress of the business on.

The quarter in which the company currently expects to reach break-even on a month by month basis.

A detailed plan of how the company intends to re-engage itself with its shareholder base going forward & educate them on Programmatic & how it actually works end to end.

Just for the record I own X Mirriad shares which is around 0.X% of the company.

Yours ....

LOTM

[last of the mohicans] 12/9/2024 14:26

mdchand,

Unfortunately for shareholders, the dump onto the market today was by 2phevs from LSE who has dumped his entire shareholding (over 7.5M shares) at a massive loss.

He was the most knowledgeable person by a country mile on Mirriad, which is a sad loss for everyone else going forward. No-one will ever know what he knew.

Personally I'm still in shock that he decided to do that.

LOTM

[tickboo] 12/9/2024 11:20

* that led (which went down like a lead balloon) the failed formal sales process early last year.

[mdchand] 12/9/2024 09:20

Wonder if the ex chairman is selling into the market today? Did he hold an interest?

[kaos3] 11/9/2024 06:08

rns - chair gone. not ousted. he went

[last of the mohicans] 10/9/2024 15:36

I went back over the old trades from the 19th of August onwards, to try & see what the MM's book would look like over that time period.

Now some might get to other numbers but in my view on close inspection of each trade & the price compared to other trades that occurred that day etc, the MM's are SHORT somewhere between 8.6M & 9.5M over that time period with 9.5M being the most likely public figure in my opinion.

Of that figure 3.7M now belong to me.

Given the share price performance over the past 5 years, I'm pretty sure the MM's are not worried about being short of 1% of the company right now & would expect to pick up that stock through time to re-balance there books. If on the other hand we get to see continued net buying they might need to change their strategy & if the company somehow could come out with 2 or 3 good pieces of news in a row ............. well who knows where that might take us.............

-------------------

Add in today's trades with the 2x 320K most likely as a bed & ISA job & the MM's short position increased by around another 1.25M shares.

LOTM

[last of the mohicans] 10/9/2024 13:04

Oh & for the record I bought another 100,000 shares this morning at 0.60p

LOTM

[last of the mohicans] 10/9/2024 13:00

Interim Results & the Future

First of all some facts, from various official RNS's

31st Dec 2023 Cash Balance £6.1M
End of Mar 2024 Cash Balance £4.5M
End of April 2024 Cash Balance £3.9M
May 2024 Share Placing raised £6.3M net

We know there is very little in the way of revenue going to show up in the books from the end of April until the end of June, so the end of June cash figure in the accounts will give us a pretty good indication of what the true monthly burn rate of cash currently is.

So pay particular attention to that number when it comes out, the doomsayers are expecting the cash balance to be around £8.2M net at the end of June & if there is an August figure in there around the £6.4M mark. The more optimistic view would be for the June figure to be around £8.8M net & the August one around £7.5M

So with just over 1 Billion shares in issue its very likely that Mirriad's market cap is less than the cash it has in the bank as I write this.......


LOTM

[last of the mohicans] 09/9/2024 13:09

So the 8M shares have now cost me a total of £72,603 so my average price is just a fraction over 0.9p per share.

LOTM

[last of the mohicans] 06/9/2024 15:25

Bought another 0.5M in the meantime at 0.5333p

LOTM

[last of the mohicans] 06/9/2024 09:35

Just for the record bought another 1M at 0.535p & another 500,000 at 0.5335p

Giving me 7.5M shares now or roughly 0.75% of the company.

LOTM

[last of the mohicans] 06/9/2024 07:52

Some of the content providers are now promoting VPP for Mirriad ......



LOTM

[last of the mohicans] 06/9/2024 07:50

Just for the record bought another 500,000 at 0.524p

LOTM

[tickboo] 04/9/2024 16:35

They billed £400k in H1 down over 30 per cent on the prior year so there is not much to measure and that will remain the case until programmatic is rolled out. The 4m FY revenue was based on programmatic roll out in June so unless this happens pronto they will obviously miss the 4m and I assume by a lot which will mean the cash position at YE will be worse than last year and a raise will be en route. One thing mirriad does well is miss every revenue guidance ever issued and raise cash.

[last of the mohicans] 04/9/2024 15:34

Just out ..............



& the link takes you to



LOTM