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Hi TheSoundMan,
Welcome on board :) Glad you enjoyed the reading.
You got the 100,000 I was after but my account login froze & by the time I actually got logged in it wouldn't give me a quote for 25,000 nevermind the 100,000 I'm after.
I've got a limit order in at 2.11p now & my 100,000 at that price still doesn't seem to be getting filled either ! :(
So not my day by the looks of it.
Good Luck
LOTM
Good morning all
Thanks for an interesting weekend of reading. I'm with you from this morning, although my 100,203 initial purchase was below the mid so marked as red. Will add further through the days and weeks ahead.
Keep up the good research and GLA
Interesting sentence directly from Mirriad in a linkedin post from 6 days ago
"This is why Mirriads AI powered virtual product placement (VPP) is becoming a PROFITABLE and scalable advertising solution"
https://www.linkedin.com/posts/mirriad_how-content-owners-media-companies-gain-activity-7188190933929136133-fg4Y?utm_source=share&utm_medium=member_android
Never seen that wording while I've been all over this since August last year GLA
Digital add market on the mend after dark days of 2022 according to CNBC does this help this company?
The other thing I've been thinking about again was regarding the business model -
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 a $2.5B opportunity & 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.
However that's potentially not a win win win all-round situation because if Advertisers were to simply switch part of there normal TV ad spend budgets directly to VPP the Content providers wouldn't be any better off they would in fact be slightly worse off having to share part of the revenue with us. They'd need the shift to come from other forms of advertising.
Advertisers would be pleased though because they were getting better value for each $ spent.
Last week CNBC outside contributors were pointing out a trend seen in USA Q1 company results, namely that digital ad spend had increased significantly (without giving a rough % increase) & was going to continue to do so.
So instead of Mirriad looking for a shift (or re-allocation of existing budgets) in ad spending of 2.4%. It might be better to say that Advertisers are so impressed with this new form of advertising that they are allocating say 50 - 60% of the increase in budget size to VPP.
Now if we say "significantly" is a 5% overall increase ( I think it might be a lot higher than that, but lets go with 5%) Then that would equate to between $2.5 - $3 Billion (5% of $106B = $5B & then 50 - 60% of that). So back to the same figures Mirriad was using but expressed differently :)
Which truly would be a WIN WIN WIN all-round situation.
And if VPP maintains its compelling effectiveness at that scale, then its highly likely they will get the lions share of any budget increase the following year (& VPP will be on the budget roster after year 1).
GLA
LOTM
I've been thinking about some of the feedback from Sunday & done a bit more research myself & I'm currently 80% certain they will need to raise more cash to see us through to break-even.
However I thought of a novel way of getting access to that cash without causing any share dilution.
So I hope the BOD read this idea so they could implement it, if they haven't already thought of it themselves.
When they next sign up Content providers be it in the USA or Internationally in the next couple of months, they should structure the initial contract as so.
The content provider will advance Mirriad either $2.5M or $5M on the signing of the contract to help cover initial system integration & "Programmatic" costs. Mirriad in return will not be entitled to receive its share of ad revenue from the agreement until the Content provider has recovered that same sum of money from what would have been Mirriad's entitlement to it. If the Content provider hasn't received enough revenue to cover the said sum 18 months from the said date, then Mirriad would make a one-off payment to cover the difference & the contract would then continue as originally envisioned.
This way Mirriad has the short term cash it needs to help see it through to break-even.
Yes it means revenue from these new agreements is going to be pushed out in time & might look like it could cause a problem, but remember in the meantime the 40% of USA providers signed up are going to be generating significantly more revenue as it becomes more widely adopted & used. That cash is going to the bank balance, because the running costs of the business are being covered by the advances. When the advances are spent, the company will have cash in the bank to fall back on.
LOTM
I found this https://www.mediavillage.com/article/upfronts-digital-newfronts-and-podcast-upfronts-calendar-for-2024/
the list might have changed slightly since the 13th of Feb 24
May 1 at 9:35 PM TripleLift - NewFronts
May 13 at 3:00 PM NBCUniversal
May 13 at 5:00 PM Canela Media
May 13 at 9:00 PM Fox Television
May 13 at 11:00 PM Telemundo
May 14 at 3:00 PM Amazon
May 14 at 4:30 PM TelevisaUnivision
May 14 at 9:00 PM Walt Disney
May 14 at 11:30 PM Screenvision Media
May 15 at 3:00 PM Warner Bros. Discovery
May 15 at 7:00 PM Netflix - Two Day Event
May 15 at 11:00 PM YouTube
May 16 at 7:00 PM Netflix - Two Day Event
We will just have to see in which one / ones Mirriad appears
Found newer articles showing the following individual ones.
In addition to Telemundo presenting at NBCUniversal’s upfront event on Monday, May 13, ADWEEK can exclusively reveal that Telemundo will host its event again later that evening at cultural center The Shed in Hudson Yards.
https://www.adweek.com/convergent-tv/telemundo-upfront-snl-marcello-hernandez/
Amazon Morning of 14th May
https://deadline.com/2024/02/amazon-upfronts-advertising-streaming-may-2024-1235834468/
Warner Bros 10am 15th May
https://deadline.com/2024/01/warner-bros-discovery-upfronts-advertisers-may-new-york-1235796488/
LOTM
Hi 2phevs, & extrader,
extrader,
I found this from last year https://www.lse.co.uk/rns/MIRI/ltip-option-awards-and-pdmr-dealings-ofdc54w1tjyqft6.html which gives a lot more details regarding the recent awards, but not the historic one & last year's results announcement from 7th June doesn't list the older ones etc either.
So the CEO took a 10% salary cut last year & will get 1.5M shares for zero cost in effect (0.001p) on 19th July this year. That same day around 9M shares options will have reached the qualifying mark & directors & staff will then be able to exercise them at 3p if they so choose. That would bring in around £270,000 in cash but give a real fill-up for sentiment at that time.
2phevs, sorry I was meaning more about commenting on the directors & when & how they arrived at Mirriad etc.
Nervously looking forward to seeing what tomorrow brings!
GLA
LOTM
Sorry been busy today... IMO the LTIP for execs has over the years built up around 15 mill shares which have an average strike price of 7pish they announced last year that the non execs would get old LTIP at a new strike price of 3p
I believe that certain execs have been locked into serious ongoing NDA's while testing has been going on which is restricting what they can do or out of good morals don't want to slap the face of the original cornerstone investors that couldn't take part in the 3p placing all IMO
Hi extrader :)
I should have added that they probably can't buy any in the open market because of all that is going on for quite some time now.
Starting with all the Content providers they've signed up but haven't been named yet, not to mention still negotiating with one of the top 3 which is 15% or over of the market so that will be deemed price sensitive for sure.
Which ones are signed up to "Programmatic" & which one is about to be revealed as having gone live & bringing in new avenues of revenue.
All the things they are hinting at that have clearly been in the works for some time.
But Yes they could have & probably should have dug a bit deeper when the placing occurred last year & got themselves to between 3 & 5 million each back then.
I'm not stopping at 1M by the way, that's just my initial long term holding number, I'm going to buy a trading parcel as well, so as to trade it in due course & increase that 1M number by re-investing the profits, until it gets taken out. That's the plan.
GLA
LOTM
Hi extrader :)
Welcome :)
I don't know if you've had time to view all the links etc or not ? Its worth doing especially quite a lot of the blog posts because there is so much going on in so many different directions.
To be honest that's one area I perhaps should have done a bit more research on & haven't (directors & salaries not like me to miss that topic either - with it being one of my pet hates).
Yes I was aware that the directors were a bit light on "skin in the game", however they have a quite a few options, when I researched that topic a little further see https://www.lse.co.uk/rns/MIRI/ltip-option-awards-and-pdmr-dealings-c7v2b9oyfk06v2k.html which made me feel like they are incentivised enough if not a little too much to be honest! when I read it. & being a late arrival its hard to complain about it being on the high side.
I also thought, well if the share price goes up, the directors can show there confidence in the outlook of the company by exercising some of those option in the near future :) It would also help boost the bank balance without there being any more dilution. So a double boost.
Perhaps 2phevs or MrTaylor194 might like to comment on the topic in the meantime?
Good Luck
LOTM
Hi LOTM-13
Followed you over here from OCN.
Interesting ...thanks !
One Q : when you get to your 1m shares, you'll have nearly as many as the CEO's 1.2m (AFAICS) or the NEC's 1.6m.
Most picked up in last year's 3p placing.
Why so few, given how long the company's been around and the exciting recent news?
TIA and ATB (here and there !)
What's the story
Hi LOTM and others
There are some very good posts here. I’m in, I shall definitely have a go next week.
They have results early June, along with the other dates mentioned. It is the perfect environment for me.
Back to SYNT. They are in the moment! We have a couple of weeks to which we have a couple of weekend and a bank holiday. Could be 10 trading day?
Probably won’t post to next weekend.
Happy hunting
Happy
I’
Morning LOTM
Indeed, I added another 500K last week in 2 tranches, the second 250K on Friday around 10.30.
I’m not quite up with 2 Phevs yet……
I agree, things are going to get interesting here pretty soon.
Morning Mozax,
I hate to think just how many shares you & 2phevs own!
The more shares that are in sticky hands the better, because one day soon the day traders will arrive in force ( & I've just found out it has a OTC listing) & so will the American's, by that route or directly. Probably as soon as the 1st of these TV upfronts presentations takes place as the put AI & Mirriad together.
I'm very much a cynic to, the trades around 2pm - 2:04pm at 1.8p & 1.798p look very strange more like sells than buy, yet instead of the price dropping after them it rose!
2phevs, posted the link at 2:16pm so it could have been in sight before then.
Now maybe the MM's had loaded up & wanted a bit more margin this time & hence raised the price a bit ? I'm just guessing or they know that seller is done for now/ for good.
I'm hoping we get a few more days without an RNS.
Good Luck All
LOTM
Morning All
Yes, I agree, 2Phevs was instrumental in enabling me to build a very large holding here, his deep knowledge of Mirriad & his quick honest responses to my questions in a period where I just needed quick answers. ( I was travelling for a week with very limited internet access).
I had previously held Mirriad Stock some years ago ( around 50p!) but was not at all up to date on what the Company had, or hadn’t been doing, and when I saw the share price at 1.5p I assumed it hadn’t been doing much.
So, a good reminder that there are good people on these BB’s, generous with their knowledge ( which can, and should of course be checked via ones own Deep research).
So, this is my personal thanks to 2 Phevs for his gracious sharing of his knowledge.
I’m aware any investment is my own decision & associated risks.
LOTM-13 has become a recent addition to the shareholder base & valued member of the BB too, well done for your solid well researched posts - keep them coming.
Finally, I’m interested to see if the sudden scramble for stock ( about £40K’s worth) in the last hour of trading on Friday materialises into an announcement, I’m a cynic and I sense someone had a heads up?
I noted on the previous Friday a huge volume in buying around 33p in FTC posted in after market trades, & on Monday the stock gapped up to 50p on the announcement of SpaceX taking a position in the Company plus a huge contract order.
Can I add even more Mirriad before breakout?
I think we’ll all be trying to do that.
Hi 2phevs & MrTaylor194,
Just to let you know, I reached out to a few posters (many are not LSE users) to make them aware of Mirriad, so you might see a few newbies around with questions !
I've told them your the Mirriad information oracles !
So hopefully you'll be as helpful to any of them if they come as you were & are with me. 2phevs (especially)
May is going to be a fascinating month for sure. I sense there's going to be a lot of official & unofficial news flow & hints of what's just around the corner.
Thanks & Good Luck
LOTM
Hi saxman303,
Your not the only one who can't work out at what point in time it will reach break even.
We really don't have any solid numbers to go on yet & there in lies the problem.
Will it go down in price, if people see a clear path to profitability ?
And your assuming they will do any cash raise via a placing. What if they issue a 15% 1 year loan note instead, or are able to get a short term loan ?
Remember the first Programmatic revenue is forecast to occur inside the next 2 months & it will then grow with that Content provider for the rest of the year & 4 more are likely to be active in Q3.
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 16 & you'll see all the additional revenue streams it will open up that "Manual" mode doesn't give.
I only just found this https://www.linkedin.com/posts/mirriad_mirriad-is-excited-to-share-some-big-news-activity-7170820927352516609-h1ka (wish they had used one of the Thunderbirds instead, & assigned a particular Thunderbird to each Content provider).
That same announcement in its RNS form said this
"Stephan Beringer, CEO of Mirriad, said: "This lengthening line of agreements with US 'majors' or 'super-majors' shows that the 'Mirriad-inside' strategy of integrating in-content advertising across the entire TV and video media ecosystem is gaining significant traction. Focusing on the biggest players in the largest market in the world is steadily creating a sea-change in the scale of new partners and establishing the Mirriad ad format as a new industry gold standard. Adding to the new partner agreements signed in Q4 2023, Mirriad's access to the US TV advertising market has just grown from less than 10% to almost 40% and we are now working with seven out of the top ten media companies in the US. Negotiations with another US major are also progressing.
"Programmatic integration with this Partner's streaming platforms is in active discussions already, and this is expected to enable significantly shorter lead times, automated transactions and increased volumes. Our focus for the past two years has been on developing a programmatic solution as this will enable us to scale revenues significantly. I'm excited that we are in touching distance of achieving this."
I think the bottom is probably in place now, I'd love to be buying more super cheap shares that's for sure.
Good Luck
LOTM
Well I can’t work out if this company will break even this year or not , If it doesn’t and needs to raise funds then the price will go down making it cheaper to buy roll on any trading reports
Hmm my post ran out of room again ! :(
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 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 ($500M split 75% going to the content providers & 25% to Mirriad) that's £100M gross & that's before you even consider that they have 40% signed up already, not to mention the rest of the world opportunity. Gross margin is meant to be high 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!
Hence why I'm going to be keep a lot of them long term !
Good Luck
LOTM
Hi Walkietalkie,
hmm you probably ran into the same "limit order" issue I had :( I'm not sure if its a more of an AIM thing rather than a main market one, something for you to bear in mind for the future.
My limit order wasn't getting filled, yet buy trades were clearly going through at below my limit price. So I did a quote & deal instead & got stock that way. On AIM if the offer price doesn't go below your imit price it won't trigger & there are occasions I've found where the official quote is completely wrong & both bid/ask trades are going through outside the quote ! ie quote is 2.55 - 2.65 yet the buys are at 2.71 & sells at 2.67 !
I've done about 10 buy trades so far, from a high of 2.25p to a low of 1.74p So far I bought 900,000 (& that will go to a million before Wednesday) my average price is around 2p.
These are a long term hold (well most likely until it gets taken over, or something dramatic happens). I'll buy an additional trading parcel after there's 1M locked away 0.2% of the company.
I know your more into your Tech stocks than me ( a non techie) but market cap is £10M roughly. First target for me is £50M then £100M given what the projected revenue figures will look like.
As you'll have seen 2phevs is the unbelievable source of knowledge here , backed up by Mr Taylor194
Your entry time is very limited I'd say, the window of opportunity has shrunk fast. Which is why I've had to accelerate my own buying plans :(
TV upfront 2024 starts 13th/14th May - CEO posted on LinkedIn (there preferred method of communicating as well as the https://blog.mirriad.com/ ) that they will feature in some of the content providers presentations - previews of there autumn schedules & shows.
They recorded a webinar with Microsoft probably on 9th or 10th April & CEO late on the 10th, posted about it & being able to view it "Soon" its Microsoft's so they control the release of it etc - its no-doubt going to give details of the collaboration they have regarding AI etc
The signing of the other top 3 content provider they are in talks with - which would give them access to over 55% of the USA market instead of the current 40%
The annual report could drop in any day now & hopefully it has a bit updating the heading figures for Q1 as well.
There are other things in the wind that could come out at any moment as well - programmatic live & earning revenue being one of them.
Cash is the big issue, they were meant to be funded to 31st August at a cash burn of £700,000 per month. We have no idea if that's accelerated due to all the integrations there doing or is still the projection. When will revenue increase markedly again we don't know, but the gross margin is meant to be like 85% (need more evidence). I don't currently see a scenario where they would need any more than £5M more to see them through to the break-even point - doesn't mean it will be through equity & they may not even need it at all.
I think this is
Hi LOTM
I had a limit order to buy most of last week at 1.80. But did not fill, if it was 1.81 it probably would have filled. What are you buying at? I will have another go next week. They have some results at the end of may. We might be in that perfect storm to build a position. I think you know how I work. I have sold all my SYNT as well. I’m looking to buy back both next week. I think SYNT have an up date middle of may.
Comment here on MIRI concerning SYNT. I have picked up some unwarranted interest there.
Here's a link to show Mirriad also purchased Xandr Invest in 2022 that's probably what caused the collab with MSFT announced in May 23 and could be Mirriad fully integrated with Xandr to be the MSFT announcement coming soon hopefully....
This is hopefully what Mirriad mean by "Mirriad Inside" they've been putting on a few RNS's over the last few months... here's the Xandr Invest independent purchase verification from 2022 (Mirriad really invested heavily during 2022 with the 2021 placing money it can be shown now)
https://www.appsruntheworld.com/customers-database/purchases/view/mirriad-advertising-united-kingdom-selects-xandr-invest-ex-appnexus-dsp-for-digital-advertising-platform
Bit about Xandr/MSFT Invest from Feb 24
Microsoft Invest lets you set up managed media buys and auction-based buys using a unique interface where you can easily monitor your insertion order and line item delivery and performance. Microsoft Invest is an end-to-end, integrated platform across the buy and sell side, which provides a number of benefits to users, including:
Seamless integration with major ad networks, exchanges, and aggregators.
Streamlined, direct access to premium, omnichannel supply.
Reduced discrepancies and optimal match rates on our platform supply.
Built-in fraud protections and inventory quality protections.
Sounds like what Mirriad has been using for testing the last couple of years here's the MSFT article
https://learn.microsoft.com/en-us/xandr/invest/about-invest
This is an Amazon blog when TripleLift and Amazon first tried to do VPP back in Jan 2021..... BTW I really thought the 3D VPP in the demo looks much better than the squeeze overlays which I reckon are still disruptive to viewing whereas the 3D placement isn't.... anybody that has a watch it would be good to know if you think the same
Here's the blog post from Amazon from Jan 2021 you'll notice that Amazon EC2 is the cloud part in the workflow....Guess what Mirriad purchased in 2022 (probably after a patent spat with TripleLift).... Yep.. Amazon EC2... looks like they've been hard at work with it for the last 2 years.
https://aws.amazon.com/blogs/industries/using-machine-learning-for-programmatic-product-placement-in-tv-advertising/
Mirriads independently verified software purchases info (also states Mirriads 2023 revenue as $3 mill not the £1.8 mill in the Jan 24 update)
https://www.appsruntheworld.com/customers-database/customers/view/mirriad-advertising-united-kingdom
hopefully logic showing us how to join the dots
TripleLift tried to do their own VVP back in 2021 but have decided to partner with Mirriad instead (probably after getting advice on those 35 patents granted and the other 14 pending) looks like Amazon has been using the same route from the Demo...
Suggest you watch this full screen on a laptop/desktop or mirror image to a monitor/CTV... the third image includes the 3D VPP as Amazon calls it.... there's also a full workflow diagram on there showing TripleLift and SpringServe who are both Mirriad partners
https://aws.amazon.com/media/nab24-demos/nab24-demos-monetization-advanced-advertising-formats-with-triplelift-innovid-springserve-castlabs-and-aws-elemental-mediatailor/