The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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See if this link to the playbook works
https://3052033.fs1.hubspotusercontent-na1.net/hubfs/3052033/Mirriad%202024%20Upfronts%20Playbook.pdf
Slide 2 gives some great gross rating points info a network/advertiser couldn't turn their back on the incremental audience
Including Germany Japan and Middle east that I've not seen before
And Networksss highlighting Mirriad at the Upfronts next week
You can download a 4 slide Playbook but you need a business email address
And very interestingly it STATES PUBLICIS PLAYBOOK on my tab when i have it open on my desktop are we now PUBLICIS
https://www.linkedin.com/posts/stephan-beringer_exciting-news-for-the-2024-upfronts-we-activity-7193585736355340289-k2m1?utm_source=share&utm_medium=member_desktop
That by the way, would provide the company with 2 new tool to show investors the progress it is making. Each month it can publish how much is available to it in the form of undrawn Content provider loans. Investors will then know how much borrowing room the company still has. The company can also state how much it has drawn down of the bank loans & it can do this in a smart way. When it gets access to the loan first of all, it draws down in the 1st month, the amount it needs for that month (plus an additional £1M to give it a working capital buffer) after that it simply draws down each month the amount it needs to return its cash balance to that of the previous month, thus effectively showing the cash-burn rate for each month, as revenue starts to come in from more & more of the content providers the draw downs will decrease in size, thus showing the rate of progress towards reaching break-even.
LOTM
I believe the company should have been looking at this as an alternative way of funding itself until it got to break-even (or very close to it)
They resolve should have approach lenders to see if they can borrow money from them at say up to 12% PA, on the basis of having in place guaranteed undrawn loans from major content providers around the world. Which could be drawn to repay the lender if necessary, with the lender allowing the company to borrow from them up to 50% of the value of those in place guarantees. So if the company had $12M of those guarantees (£10M) the lender would then let the company draw down £5M max. The lender will give the company 60 days notice should it require re-payment of the loan & the loan has 2 year's duration.
The company then has a clause inserted into every contract that it is now negotiating with Content providers & any others on the supply side of things stating that the Content provider will make available an upfront loan to Mirriad on the following terms (the loan would be provided within 30 days of requesting it) for any provider under $250M in size ( company value) (they are exempt - but could agree to one if they so choose) those under $500M a $1M loan facility, under $1Billion a $2M loan facility & above $1Billion a $5M loan facility.
Should Mirriad draw down any of the loans then the content provider is entitled to 1.5 times the amount drawn down from what would have been Mirriad's share of the revenue generated through its product with the content provider until payback is reached, once payback has been achieved Mirriad will then receive its share of the revenue as per normal.
The company could also go back to those already signed up to see if they will agree to the same condition being applied to there agreement's. Why would they agree to this, because having such agreements in place will allow Mirriad to expand its workforce in the short term to speed up its Programmatic Sales capabilities as well as systems integrations. That in turn will lead to a quicker delivery of the finished product to the content provider & thus generate revenue for them ahead of the current schedule & therefore its in there interests to agree to it.
All loans should have 1 year time limit within which Mirriad can activate the loan.
LOTM
That is one thing that would of been nice to have hindsight on but such is life when I see independent proof of a sudden 4 fold increase in the PP sector in the last 7 months gave me the confidence that Mirriad would see it through with maybe some factoring or UK gov export tade credit and I still believe this is a final #MATESRATES Fundraise we'll see
Yeah great thinking to inflate your cash burn in order to give away shares for mates rates? No that was the only price they could get the raise away and they are not lying when they say without it they will run out of cash before end of August. You're making ludicrous assumptions which is understandable when you have 7m shares. You need to start reading RNSs more closely and not hyping immaterial news elsewhere. Even with a burn of just £700k they will be back with the begging bowl within 12 months. Anyway, you should have listened to me and taken some off the table, I told you a raise was coming but you wouldn't listen. Anyway, you can now buy below 1.25p. If the pipeline was decent I'd be buying and believe me this will be every iffy opportunity they have.
Again dialects they will look at the worst case scenario (which helps get the #MATESRATES Fundraise through)
For illustration cash end of June 23 9.8 mill divided by 14 end of Aug 24 equals exactly £700k cash burn certainly not £800k a month you 1st posted today £1.4 mill out and that's not taking in the full cost cutting savings that's disingenuous I believe
Of course I know the difference between gross and net burn, as do the auditors!
Hilarious, you didn't even work those figures out yourself. You shouldn't be investing.
Having been on a board (not as a FD/CFO!) at each board meeting the FD will run through management accounts that will have a where we are against budget and projected. The auditors will also see these and they will have worked out how long the cash would last which was not beyond August. They will take into account any monies due in so R&D credits and campaigns booked. Funny how you're now using the terms I put to you on me, disingenuous and trying to belittle more. Are you related to Trump??! He's also been bankrupt many times and a clown x
Search gross burn vs net burn LL
Do you think they have taken into account monies due to them from channel 4 sky pipeline R&D tax credits vat recliams on mainly exports and their extra savings from cost cutting no they won't have and they could last longer if they wanted to.
Did you take into account the above or have you fell into the #MATESRATES narrative of the Fundraise too its no where near £800k very disingenuous of you
£6.1m cash Dec 31 and won't survive beyond August.
You have 7m shares and you don't even look at their cash burn which is in recent RNSs? All you do is post immaterial news from LinkedIn and other sources rather than material info in regulated RNSs. You are a lifestyle CEO's dream.
Their cash burn is anywhere between £762,500 a month if they had cash to the last day in August or nearer £870,000 a month if first day in August. Likely somewhere in the middle.
What do you get it to then 799 795 785
I said nearly £800k a month. It’s easy it’s within their recent regulated RNSs. Cash at year end and they said they would run out of money before end of August if raise wasn’t agreed.
Mirriad could have 100% access and they still would do feck all, the consistent increase in supply and demand side has not resulted in higher revenues. Competition a higher according to their annual report and I suspect we will see more platforms launched soon. Sure some have had a good look at mrriads
Again blurring Where do you get £800k cash burn a month full breakdown please
I got the factual 4 fold increase in US PP the last 7 months from an independent source which I posted here did you see it Ll??
This it the best. Implying the giant that is Amazon can’t do this -
After reading the published report it can only be done on a flat surface and it can't be put on a moving taxi
Entitled to be optimistic? One only has to look at last 4 years of RNSs as well as LinkedIn posts to mean all the partners mean fexk all revenue wise. Still burning nearly £800k a month FFS. Always good to be an optimist as long as it isn’t expensive.
Again blurring to your narrative LL Are you seriously saying it was a bunch of students that came up with AMZN'S request for automated VPP
After seeing £6.1 mill cash at year end and a Factual 4 fold increase in US PP between Sept 23 to March 24 along with 2 US Super Majors signed up I think I was entitled to look on an optimistic side of revenue possibilities.
Like I say look up dialetics
For the final time the paper was written by students and they critiqued a platform they developed. It if of course rudimentary. If you believe that Amazon, Disney or whoever can’t put images onto moving images or those that aren’t flat you really are lost. The early days of CGI could do this!!!!
After reading the published report it can only be done on a flat surface and it can't be put on a moving taxi
There are clear differences between us. You over hype, in a realist. I understand AIM, accounts so cash burn, going concern etc which you clearly don’t. More importantly when you were encouraging newbies to buy at 2p+ I was saying to wait as a raise before June 30 likely. I underhand you’re understand and need to hype but you look desperate as I would be with 7m shares. I have 500k and know a raise will come within 12 months given cash burn and awful pipeline.
You suspect wrong but you won't have that LL look up dialetics and you might understand the difference between us
One if many 1 in 3 conversion of pipeline leads which is full funnel not your blurring of unweighted and weighted LL
https://televerde.com/sales-pipeline-coverage/#:~:text=High%20pipeline%20coverage%20provides%20a,%2C%20competitive%20advantages%2C%20and%20scalability.
Another chance to see at the behest of AMZN a poor effort at automated VPP last year
After reading the published report it can only be done on a flat surface and it can't be put on a moving taxi (Like Mirriad did with Doordash in the US) some results were terrible mis sizing and unusable around humans the report was carried out by a PHD guy in a US University between March and June 2023 so perhaps they have gone to Mirriad
It states AMZN used something similar to MSFT word art what a laugh
This was difficult to find only published 5 days ago view it in PDF personally I've seen better from a 2 man outfit trying to do this in Poland recently but make your own minds up
https://arxiv.org/abs/2405.01130
2phevs you cannot even admit when you’re wrong, How insecure must you be. I suspect you didn’t understand the context of the paper so did think it was a critique of Amazon’s VPP rather than the students novel version. You just can’t say ah I got that wrong.
Also I worked in IR and on many pitches and the rule of thumb in most industries to expect a 1 in 3 conversion. That’s for pitches not unweighted. Where on earth have you read 1 in 3 for unweighted or is this more BS?
Again personal digs LL..All I've posted is a report of what an extremely qualified professors assisted 5 years of writing white papers 4 month intern at the behest of AMZN came up with a very poor VPP solution for them..which in my view and it seems yours too means they're were having trouble with it and maybe had to come to Mirriad...I think it was worth posting here don't you LL??