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Part 3
The Auto sector has really embraced VPP see this Toyota/Lexus information
https://www.linkedin.com/posts/mirriad_toyota-gets-94-ad-awareness-with-mirriad-activity-7185948779563433985-5yAy
They have also ran recent campaigns in the USA for Nissan (delighted with the result), they've also ran them for VW & Opel in Germany ( I don't know if for VW in USA yet)
This lady is important & runs a special part of of the business.
https://www.linkedin.com/posts/mirriad_top-women-in-media-ad-tech-admonsters-activity-7186358467819941890-YWwB
The business model - the investor part of the website isn't good, but go here https://www.mirriadplc.com/investor-relations/reports-and-documents & download the 25th August 2023 presentation.
Page 7, is saying that if 2.4% of advertising were to shift to VPP by 2026, it would equate to $2.5B & if Mirriad had 20% of partners signed up it would give them $125m (that's $500M split with 75% going to the Content providers & 25% to Mirriad) that's £100M gross & that's before you even consider that they have 40% of the market signed up already, not to mention the rest of the world opportunity to come after that. Gross margin is meant to be high (85%) but really need to see if it stays that way, even at 50% net you'd be talking £50M profit for the year or 5 times the current market cap.
Now they may need to raise more cash to see them through to break-even but I can't see it being any more than £5M max & it might not be in the form of equity. Hard to tell right now.
I'd say a £100M market cap is a pretty achievable target inside 2 years, if not soon. As long as it doesn't get taken out in the meantime & sadly there are numerous potential candidates. Hence why you want long term holders onboard.
They have patents in place etc for there product & https://blog.mirriad.com/mirriad-awarded-tpn-gold-shield-status is another barrier to entry
"Programmatic" is going to take them to another level ! rather than doing things "Manual"
Thanks for you time & Enjoy your research !
Should any of you have any questions then I'll be happy to try & answer them on the MIRI thread where 2phevs (especially) & MrTaylor194 reside.
GLA
LOTM
Part 2
By October they had signed up 7% of the Content providers, by early December that had reached 25% & in early March 2024 it was at 40% & they are talking to one of the other top 3 three providers which would take them to over 55% of the market (they have 6 of the top 9 signed currently).
If you want to research it, then go to https://blog.mirriad.com/ there are lots of really good articles there to read just to give you a flavour of it. There's also a couple of really knowledgeable people on the LSE website chat board that I also use that help fill in the gaps because the company's tentacles are everywhere.
The problem is time is now limited -
Why is time limited ?
Well the company tends to use LinkedIn to hint at what's about to come ( as well as the blog posts).
On the 9th/10th April the CEO posted about a webinar with Microsoft https://www.linkedin.com/posts/mirriad_stay-on-the-lookout-for-a-webinar-with-microsoft-activity-7183852657910898688-gdWx & it coming out "Soon" its Microsoft's so they will dictate when its released - I'm sure it will discuss there collaboration around AI & this virtual product placement.
Then on Thursday the CEO posted this https://www.linkedin.com/posts/mirriad_mirriad-is-pleased-to-share-that-our-virtual-activity-7189223402392424448-CWH1 which is basically saying some of the Content providers are going to reveal the product at TV Upfront 24 which starts 13/14th May. This is the event where the Content providers reveal there autumn programs new series etc etc & is a highly anticipated event.
Until now they've not even revealed which Content providers have signed up ie kept it secret & yet now some of the Content providers have decided to go public with the news!
When you read through those blog posts you'll understand why there doing it, advertisers are probably demanding it, when you see the independent 3rd party market research on this type of advertisings & its success.
Amazon has been seen in recent posts & one of Mirriad's key contacts was at a AmazonPrime premier on Thursday night in Germany https://www.linkedin.com/posts/sandra-freisinger-brandedentertainment_primevideo-maxtonhall-maxtonhallonprime-activity-7189591480062148608-ZlE5?utm_source=share&utm_medium=member_android it was after that got posted on Friday afternoon that some buying of the stock occurred.
Part 1
I thought I'd share this off-topic share with you all, because I know most of you here have been long term investors & are happy to hold a share for many months or years.
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Full discloser - I'd never heard of this company until 8th April 2024 & to be honest its not really my thing (as I'm not a techie & much prefer exploration stocks), but I'm finding the opportunity totally compelling.
Its a company called Mirriad - AIM listed under the code MIRI
I've been buying it in small chunks for the past couple of weeks knowing I could get caught out at any point, but at the same time waiting for the price to drop. My average price is around the current sp now ie 2p & I have bought 900,000 shares so far ( I will get to the 1M mark on Monday - 0.2% of the company)at prices from 2.25p to 1.74p & the latest 1.98p just before market close on Friday.
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When it originally listed it was valued at about £65M & its technology was used to add/place things into films.
Now its valued at just £10M & its technology is used to do virtual product placements in Ads.
In the middle of last year it changed its business plan, so as to concentrate virtually all of its efforts on the USA advertising market - the biggest single market in the world. It had £9.8M in cash at 30th June 2023 & budgeted for £0.7M per month in cash outflow which would see it through to the end of Aug 2024. We've still waiting on the 31st Dec accounts but they did announce that they had £6.1M still in the bank (£0.5M better than projected at that point).
I'm truly Sorry to everyone who has bought in recently to MIRI, following me highlighting the company & asking people to take a look at it.
Yes I did know a fund raise was a possibility, but I didn't see it coming so soon & its slightly larger than the £5M max requirement that I thought they might needed.
The issue price is a disgrace quiet frankly, if that's the best the company can do with the pipeline of opportunities it has & all the hints its been giving through informal channels. The CEO has a lot of explaining to do & his position is in Jeopardy for sure after this, if not untenable.
Again my sincere apologies to everyone.
LOTM