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stephan is a blagger. soon to have 1bn shares in issue and burning nearly £800k a month, break even if at all end of next year so another raise needed next year. £2.6m total pipe and you continue to swallow his bull ****. he was paying himself nearly £1m not long ago, nearly 20% of what they just raised!! it’s a lifestyle business that stephan is milking.
I was concerned the MSFT collaboration with Mirriad that created their latest version was the end of the collab but after an email response from Stephan 2 months ago I was reassured that the collaboration was ongoing and Mirriad would not stall as LL has stated
##MATESRATES Fundraise
Microsoft is ongoing.
We’re fully integrated, and without Microsoft, we wouldn’t have received the TPN badge.
New “products” will be coming, some market facing, some “internal”. I cannot disclose what and when.
Xandr is important to us, because they process advertising for Netflix. I cannot disclose anything further.
There are much larger adtech companies in the market, who have bigger clout in terms of publishers they already manage. I cannot disclose anything further.
We know Chris and Lucy well.
I hope this helps.
Best
Stephan
I’m not backtracking just reading between the lines. The co mentions Amazon and NBCU and also states competitor risk has increased. I linked them. This is from their RNS albeit different sections -
This was from 12 months ago at the 3p raise - In the event that the Company is unable to meet such obligations as a result of the failure of the Fundraising to complete and in the event that the Company is unable to secure alternative sources of funding, the Directors believe that it is unlikely that the Company will be able to continue as a going concern and it is highly likely that the Directors would (in order to fulfil their duties to the Company's creditors and to other applicable stakeholders) seek to place the Company into some form of insolvency proceeding
The announcements made by Amazon and NBCU that they were, or intended, to enter the in-content advertising market;
The Directors expect other major media and adtech companies to enter the in-content market over the next twelve months. The Directors believe that ultimately this will lead to an industry-wide development and adoption of in-content advertising as a new advertising format.
There are, however, emerging competitors who provide similar services (in some respects) to those provided by the Company and several who have longer established business models with larger revenue streams operating in adjacent business sectors. It is also possible for very large and well-resourced organisations who sell advertising products as part of their core business to see the market potential that the Company sees. While the Directors believe that replication of the Company's platform is complex and a level of protection is afforded by various intellectual property protections, including patents, copyright, trademarks, trade secrets and contractual provisions, to preserve its intellectual property rights, an organisation with the ability to invest and devote resource to the development of an advertising product could ultimately replicate the service provided by the Company. Many of the Company's competitors and potential competitors have significantly greater financial, technical, marketing or service resources than the Company and have a larger base of products, longer operating histories and/or greater name recognition. In addition, the Company's competitors may be able to respond more quickly than the Company can to changes in partner requirements and devote greater resources to the enhancement, promotion and sale of their products and to the development of new products.
LovableTB,
No sadly your back-tracking you said they had specifically mentioned both NBCU & Amazon as risks to the business, which they haven't & you've been making that assertion for several days now.
The 16th May announcement say's they expect others to enter the market & welcomed the idea as it would then lead to "adoption of in-content advertising as a new advertising format."
I've read numerous documents during my research LovableTB & I continue to do so, some multiple times over.
Yes there are things I miss & some I interpret differently to others that's for sure.
Of course there are risk's, which business doesn't have risks ?
LOTM
Amazon will be developing its own for Prime and I suspect not reselling for others to use. The point I made earlier stands -
The fact competitors are coming is good as it validates the space. The fact one of these monsters doesn’t buy mirriad for say £50m means the IP isn’t creating a moat. Mirriad has stagnated and it seems highly unlikely they will be part of the pie will which be massive in 3-5 years. The big boys will want the revenue stream to themselves. No way will they let a little UK minnow take a slice. Alarm bells rang when no one came forward when mirriad up for sale last year which tells me they can and are developing their own.
The Directors expect other major media and adtech companies to enter the in-content market over the next twelve months. The Directors believe that ultimately this will lead to an industry-wide development and adoption of in-content advertising as a new advertising format.
There are, however, emerging competitors who provide similar services (in some respects) to those provided by the Company and several who have longer established business models with larger revenue streams operating in adjacent business sectors. It is also possible for very large and well-resourced organisations who sell advertising products as part of their core business to see the market potential that the Company sees. While the Directors believe that replication of the Company's platform is complex and a level of protection is afforded by various intellectual property protections, including patents, copyright, trademarks, trade secrets and contractual provisions, to preserve its intellectual property rights, an organisation with the ability to invest and devote resource to the development of an advertising product could ultimately replicate the service provided by the Company. Many of the Company's competitors and potential competitors have significantly greater financial, technical, marketing or service resources than the Company and have a larger base of products, longer operating histories and/or greater name recognition. In addition, the Company's competitors may be able to respond more quickly than the Company can to changes in partner requirements and devote greater resources to the enhancement, promotion and sale of their products and to the development of new products.
I said competitor risk had increased which it says in the annual report. I also said they mentioned Amazon and NBCU had entered the mix which they have (Google it). You now believe that Amazon has stopped developing its own and is working or testing mirriad. I doubt it but if that is the case it’s amazing although bizarre Amazon wouldn’t just buy mirriad and encorporate the IP with its own.
The fact that you have seemingly only just read important RNSs now is poor and the fact you were hoping this to unsuspecting investors/traders without doing basic research also poor. Given the cash burn, really poor pipeline it’s highly likely another raise needed within 12 months and given history it’ll be a lot lower than now unless something drastic happens with revenues.
If NBCU and Amazon are still developing their own programmatic VPP then it's now been 2 years from the announcement with their resources it's should of been months AMZN have literally just done a demo now which Mirriad did last year with Amagi and Harmonic at NAB so if AMZN are doing their own or using a part of Mirriads tech then it's taken a long time so why shouldn't it take so long for Mirriad to get the programmatic side done NBCU haven't even demo'd one and the 87% mentioned doesn't make sense ...
Ank yourselves even if AMZN did go it alone wouldn't all the other publishers sign up with impartial non competitive Mirriad?
LovableTB,
I've just looked all through the risk section of the annual report pages 23 - 27 & there is no mention of NBCU or Amazon in there. Or in any of the notes to the accounts that I can see.
So which page of the annual report are you referring to ?
They are mentioned in the 16th May 2023 document in the section I copied earlier not in the risk section of that announcement.
LOTM
Hi LovableTB,
From very early on in research of Mirriad, I kept asking myself this question, given the 2026 projections in the August 2023 presentation, why on earth have at least one of the Content providers not just swallowed it up ?
& If not one of them then why not one of the the major ad agencies or such like, as it would give them such a competitive advantage over its rivals.
I still can't find an answer & yes I still keep asking those same questions of myself each & every day.
LOTM
They are. Look at the annual report, there is a risk section and the risk has materially increased.
Hi LovableTB,
I've just been going over last years document & I believe you are totally mistaken by the context in which NBCU & Amazon are listed.
They are under the section listed as
2. BACKGROUND TO AND REASONS FOR THE FUNDRAISING AND USE OF PROCEEDS
On 20 January 2023, the Company announced a strategic review of its business, including a formal sale process, to consider all options to secure future value for stakeholders (the "Strategic Review"). On 14 April 2023, the Company concluded that there was no prospect that an offer for the issued and to be issued share capital of the Company would be forthcoming and accordingly announced the termination of the formal sale process. Raising additional equity capital was explicitly considered as an option as part of that announcement. Having continued to review the business and its operations, the Directors now consider that an equity capital raise is in the best interest of all stakeholders. The Company anticipates that the net proceeds of the Placing will be sufficient to finance the business until the end of June 2024 and that the Company will need to secure additional funding in order to achieve cashflow break even which it anticipates achieving in 2025.
The Directors believe that the Company has been instrumental in driving awareness of the potential for in-content advertising and that the market is becoming increasingly receptive to the possibilities and potential of this form of advertising and to the Company's proposition. This is demonstrated by:
1. the announcements made by Amazon and NBCU that they were, or intended, to enter the in-content advertising market;
2. conversations that the Company is having with a number of Tier 1 content supply businesses in the US. The Company is working with five of the top ten largest content supply companies in the US and in dialogue with another four;
3. the number of large advertisers who are interested in the Company's products. The Company is working with nine of the top twenty largest spending advertisers in the US and in dialogue with six more; and
4. the fact that the Company is partnering with an increasing number of advertising technology ("adtech") companies for the purpose of deploying in-content advertising programmatically. The Company is working with nine of what the Directors believe are the fifteen largest adtech companies in the programmatic advertising space in the US.
The Directors expect other major media and adtech companies to enter the in-content market over the next twelve months. The Directors believe that ultimately this will lead to an industry-wide development and adoption of in-content advertising as a new advertising format.
They are not in the risks to the business section at all
LOTM
LOTM if Amazon etc have shelved their platforms to work with mirriad then that’s huge and they do clearly have a moat. We’ll see but surely they’d just buy mirriad rather than letting all their dev work go to waste. Anyway, we’ll see.
Thanks for all the input LovableTB.
I guess we're going to have to wait & see if both NBCU or Amazon have given up competing against us (in the short term at least) otherwise why would they be negotiating to use our product ?
I guess we will see who unveils themselves next week at Upfronts as working with Mirriad maybe that will shed a little more light on the matter.
Catch you later, I've got several emails to try & finish writing today ahead of tomorrow & I'm way behind with them.
LOTM
The fact competitors are coming is good as it validates the space. The fact one of these monsters doesn’t buy mirriad for say £50m means the IP isn’t creating a moat. Mirriad has stagnated and it seems highly unlikely they will be part of the pie will which be massive in 3-5 years. The big boys will want the revenue stream to themselves. No way will they let a little UK minnow take a slice. Alarm bells rang when no one came forward when mirriad up for sale last year.
LovableTB,
As I've said several times to you now, yes the pipeline is a concern to me but no where near as much as it is to you currently.
We differ around "Programmatic"
We are in Manual mode currently or I think I've seen it being referred to as version 2.0
Its Version 3.0 that has been developing/testing or whatever else you want to call it & should be (or is meant to be) Live and generating revenue in this quarter with 1 Content provider with 4 others running slightly behind them.
That is what is meant to be the game changer.
We can only wait & see if that turns out to be true or not.
LOTM
This was from 12 months ago at the 3p raise - In the event that the Company is unable to meet such obligations as a result of the failure of the Fundraising to complete and in the event that the Company is unable to secure alternative sources of funding, the Directors believe that it is unlikely that the Company will be able to continue as a going concern and it is highly likely that the Directors would (in order to fulfil their duties to the Company's creditors and to other applicable stakeholders) seek to place the Company into some form of insolvency proceeding
The announcements made by Amazon and NBCU that they were, or intended, to enter the in-content advertising market;
The Directors expect other major media and adtech companies to enter the in-content market over the next twelve months. The Directors believe that ultimately this will lead to an industry-wide development and adoption of in-content advertising as a new advertising format.
There are, however, emerging competitors who provide similar services (in some respects) to those provided by the Company and several who have longer established business models with larger revenue streams operating in adjacent business sectors. It is also possible for very large and well-resourced organisations who sell advertising products as part of their core business to see the market potential that the Company sees. While the Directors believe that replication of the Company's platform is complex and a level of protection is afforded by various intellectual property protections, including patents, copyright, trademarks, trade secrets and contractual provisions, to preserve its intellectual property rights, an organisation with the ability to invest and devote resource to the development of an advertising product could ultimately replicate the service provided by the Company. Many of the Company's competitors and potential competitors have significantly greater financial, technical, marketing or service resources than the Company and have a larger base of products, longer operating histories and/or greater name recognition. In addition, the Company's competitors may be able to respond more quickly than the Company can to changes in partner requirements and devote greater resources to the enhancement, promotion and sale of their products and to the development of new products.
*spelled out
LOTM I can only assume you cannot read between the lines and need it spelt out. As I posted the potential of Mirriad massive as the VPP space will be massive so that’s why mirriad has signed demand and supply side partners for years (see Disney 3 years ago). The point I’m labouring is Mirriad’s moat/IP isn’t deterring competitors and some massive players who could gobble mirriad up if necessary which is clearly isn’t. Mirriad has talked potential for years, same patter and my point is the revenues in as few years will be huge and my bet is mirriad wont be around as will have gone under or bought out (less likely as would have happened).
Are you not concerned they are still burning nearly £800,000 a month, have an unweighted pipeline for the rest of the year of £2.6m which is awful and they’re more than likely gonna raise again within 12 months. If they can.
I understand you’re new here and underwater but you need to be realistic and hopefully your days of hyping to naive investors over.
Hi LovableTB,
You've said a lot of what you've just written before. I totally get the concerns.
However you didn't answer my question.
So I'll repeat, its not a trick question I genuinely want to know your thoughts on it .....
"Why did 40% of USA content providers sign up for it & another 47% are in active discussions to do so ?
If its not going to generate meaningful revenue for these extremely large companies then why on earth would they sign up & dedicate teams of there own staff to sales & marketing for it? "
Thanks
LOTM
You also forget mirriad had a for sale sign up last year and they said no one was interested. VPP will be massive in a few years so huge money. If mirriad had a most so IP stopped others from getting in on it they’d have been bought last year or even now for less than £50m or 10p a shares feck all to big boys.
lotm unlike you i am a realist hence i said a raise before june 30 was highly likely whilst you enticed newbies to buy. i understand that accounts have to be signed off and have been invested here for years so have seen the impressive partners both demand and supply side, linkedin posts but have also seen revenue stagnate, cash burn continue and more jam tomo spread. again i think the potential is massive but the ceo not delivering. 12 months ago a discounted raise at 3p and here we are one less than half that. we signed disney on a 2 year trial 3 years ago and what happened to that? programmatic going for nearly 18 months and the ceo clearly doesn’t see it accelerating any time soon given the steady take up will see future growth. £2.6m in the entire sales cycle pipe is more than worrying. again i’ve been here years not months so have seen similar patter regurgitated. the company said 12 months ago competition a large risk and with amazon, nbcu and others coming along i suspect mirriad will go under next year or be bought out for feck all. i mean this was from nearly 2 years ago - both amazon and nbcuniversal announced that content in their streaming platforms would feature virtual product placements.
amazon is using the beta ad product in its shows, such as the bosch franchise, leverage: redemption, and tom clancy's jack ryan. prime video and the ad-powered frevee service both use the novelty product – as does nbcuniversal’s platform pea****.
as mentioned above, these kinds of ads are embedded within shows after production. for instance, a bag of m&m’s was digitally added to a bowl on a table in a bosch episode.
there will be large players with deep pockets who will take this space and we’ll be nowhere to be seen.
LovableTB,
So with your total negativity towards Programmatic & the company's product can you please explain, why 40% of USA content providers have signed up for it & another 47% are in active discussions to do so ?
If its not going to generate meaningful revenue for these extremely large companies then why on earth would they sign up & dedicate teams of there own staff to sales & marketing for it?
LOTM
He’ll be nicely rewarded for doing very little. First thing he should do is get rid of the awful CEO. They hope to break even next year, when? Likely the last week in Dec if at all. The quote below doesn’t inspire confidence as highlighted by the awful unweighted pipeline. It tells me future growth a way off so a raise next year inevitable.
continue along the steady path towards programmatic, which has always been identified as the catalyst for future growth.
Numis recently acquired by Deutsche Bank now Deutsche Numis must of done some serious analysing and DD in the past 20 years for clients do we all at least concur on this