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We have no idea what revenue was like in Q1, or how Q2 is actually doing.
Given they are running out of cash end of August revenue clearly poor as is what's booked in until then. They are burning at least £762,500 a month given they had £6.1m cash Dec 31. They launched their first programmatic campaign some 18 months ago, roll out painful and the pipeline says a lot.
Hi LovableTB,
Cash burn would appear to be pretty much as expected ( we won't know for sure until we get the March 31st & June 30th figures).
We have no idea what revenue was like in Q1, or how Q2 is actually doing, but I'm guessing neither are great & that is down to us still being in Manual mode.
Everything really depends on getting Programmatic up & working & sadly we have no idea if that is on schedule or not.
LOTM
LOTM I am sorry to say but you clearly don't know how raises work for PLCs. The fact they would have only had 3 months worth of cash by the time the new shares are admitted (28 May) is pretty shocking. The BOD are happy not to have the share price any higher as all it would mean is a larger discount. They are burning cash at a crazy rate and the unweighted pipeline a huge concern. Last time the share price went to over 4p from a raise at 3p and then of course lots of profit taking so the share price settled at around 2p and this time I expect similar to happen. For all the partnerships and LinkedIn hype revenue is still awful, cash burn high and the only near on certainty is they come back to the market in less than 12 months for another raise. Given most business is done in H2 I still can't believe how crap the unweighted pipeline is.
I've just been going through the fund raising document again, for information that will be going into various emails.
I hadn't read until this morning that in the document it actually states that the company has sufficient cash to last it until the end of August.
"In the event that the Resolutions are not passed and the Fundraising does not complete in full, and if such an alternative source of funding cannot be found, the Company expects that it would only have sufficient cash to fund its activities until the end of August 2024 and it will seek to conduct an orderly wind down of the affairs of the Company substantially before that time. "
The above just adds to the view that the timing & pricing of this placement is all wrong & that the company should have waited until after Upfronts24 had taken place.
LOTM
Buck
LOTM aka Last Of The Mochicans give it a rest. It's a good idea on paper, but they're burning through cash and their pipeline suggests that they're nowhere remotely close to a break even point anytime soon.
If you want to make a quick book. Well I reckon you'll be better off taking the lead from your fellow indegenous Native Americans and start a casino.
This is Esra's page
https://www.linkedin.com/in/esrabacher?trk=public_post_comment_actor-name
She is the one highlighting Mirriad to other's for this question -
"Who are some of the most exciting early stage (pre exit / public) CTV AdTech companies that you have come across recently? "
Thus putting it on there radar ...........
The 2nd recommendation in her profile (long 1st one was on the previous post)
“Esra is fantastic & one of the slickest operators I've come across in the programmatic world. Her collaborative & strategic approach meant she really understood how to effectively work with media owners whilst generating maximum value for her clients. ”
6 people have recommended Esra
I'm guessing from all that is said, that she came across Mirriad through the Multicultural Marketplace & her work & found the product offering compelling.
So that would say that she is happy to endorses the product, the question is then down to Programmatic & margins on sales Mirriad wise.
LOTM
Axel Jonuschies
“I have had the privilege of working closely with Esra for over a decade at GroupM, and I am delighted to outline some of her exceptional contributions during her tenure at GroupM. Esra is an outstanding team leader, demonstrating an unparalleled ability to mobilize and inspire her team. Her leadership style is marked by a rare combination of strategic vision and hands-on involvement, fostering an environment where everyone feels empowered and motivated to deliver their best. She consistently leads by example, setting the bar high for professionalism, dedication, and collaborative spirit. Esra is not only a relentless worker but also someone who sets ambitious goals and works tirelessly to achieve them. Her dedication to excellence is truly commendable, and she has a remarkable knack for turning challenges into opportunities. Under her leadership, the Digital Investment team at GroupM US achieved unprecedented success, a testament to her commitment to driving results. She has an innate ability to cultivate positive and productive relationships with stakeholders from diverse backgrounds. Whether engaging with local partners or collaborating on a global scale, her communication style is clear, concise, and always aligns with the overarching goals of the organization. Esra possesses a unique talent for bridging cultural gaps, fostering an inclusive environment, and ensuring that the interests of all stakeholders are considered and addressed. In the realm of digital investments, programmatic advertising, and CTV, Esra's expertise is second to none. Her profound knowledge in these areas has been instrumental in shaping and executing innovative strategies that have elevated GroupM's position in the market. Esra played a pivotal role in driving programmatic Supply Path Optimization (SPO) efforts, showcasing her keen understanding of the evolving landscape and her ability to navigate complexities with finesse. One of Esra's standout achievements is the successful launch of the GroupM Premium Marketplace in the US market. Her vision for a prioritized, scalable access to premium inventory in the most efficient and transparent way has not only benefited GroupM but has also set a benchmark for excellence in the industry. Esra's impact on our organization has been profound, and her legacy of success continues to resonate. I wholeheartedly recommend Esra for any leadership role that demands strategic acumen, dedication, and a profound understanding of digital investments. Her combination of soft skills and technical expertise makes her an invaluable asset to any team or organization fortunate enough to have her on board. On a personal note, I genuinely look forward to the prospect of working closely with you Esra again!”
Should of mentioned this as well Germanys JOYN streaming network 7 million subscribers does VPP that's why Louis and Sandra did all those German visits a couple of months ago
https://www.seven.one/werbeprodukte/joyn-werbeprodukte
Just scroll down to VPP obviously fully integrated and available now
Quortex use AI to analyse the scene and recommend a brand to suit the scene and put a banner in the corner... personally I think it's still intrusive like these annoying banners on this website...much prefer a product inserted on to a table top or a billboard on a building or a car inserted outside a bar etc etc... seems more natural... and much better than in your face actual product placement clearly being promoted by the actors just my view
Yeah LOTM so Quortex do video delivery under quortex.io and adformats (like triplelift) under quortex.ai
Well you've got a name now Zack Rosenburg, so I'll let you go do your things with it, clearly it has potential in our space given what AT said in that video you found.
Sadly I need to concentrate on other things I've a lot to achieve this weekend ! :(
Catch you all later.
LOTM
Here's some more looks like they're a triplelift type inserting L banners etc which find is still intrusive unlike VPP which is natural....but much smaller I don't recognise the small list of publishers they work with either
Here's the link LOTM I Think it's the same company with a slightly different website address
https://www.qortex.ai/
Https://www.alleywatch.com/2023/12/qortex-video-analytics-platform-adtech-highest-impact-placement-zack-rosenberg/
Seem to have had far less trouble raising cash than Mirriad BOD have achieved
LOTM
Seems more like a cloud only based video delivery company LOTM if I've got the right one
Here's the 2 pages on what they do
https://www.quortex.io/quortex-link/
https://www.quortex.io/quortex-play/
Hi 2phevs,
I suggest you have a look at Qortex as well & see what your research brings up, & how close a competitor they are to us ?
They are clearly in the VPP space.
LOTM
LovableTB,
You're sounding like a broken record now, your going over the same stuff from before again & again. I think 2phevs gets your concerns.
If you've fresh stuff that concerns you, I'm happy to read it & research it & form a view on it.
All of that is not moving us forward & we need to do that to eventually make money from this.
I doubt 2phevs is going to sell out if it gets to 2p, I'm certainly not.
500,000 Shares is actually 0.1% of the company currently ie 1/1000th of it is your, not to be sneezed at.
I'm already working on various plans & I'll probably need a favour from you early next week!
LOTM
A thesis LL
I would imagine that if Mirriad get integrated with 87% (40% as of now) of US TV content providers then why would they need anyone else to do the exact same thing can't see them taking a smaller cut and going through all the hassle Mirriad have gone through over the past years testing and integrating directly with the publishers....the publishers probably wouldn't want the hassle
And yes sometimes I do have the odd thesis which can be wrong but I'm sure everyone else here only actually takes on board the factual posts I make with links to back them up LL
I'm just naturally optimistic sorry its in the genes and don't get taken over by others views as I'm sure no one else has here it's well known to do your own research and make your own decisions LL
2phevs remember when you were pumping and people posting on here that they’d bought and thanks for the research. I pointed out they’ve been posting positive stuff on LinkedIn for years and revenues continue to struggle. I also pointed out a raise due as accounts need signing off and you tried to belittle me and few took notice. You have no self awareness.
I’ve only got 500k shares so checking in just to correct 2phevs often OTT posts as he has is clearly desperate to sucker more naive punters. As Mirriad say there are some major players developing their own versions and I doubt the co you mention is one. Mirriad a leader for sure but I wonder how long it will last.
I did flag to Stephan at the time he liked bidstack take private post a few weeks ago and at least Mirriad did a shocking #MATESRATES Fundraise rather than Bidstacks Directors diabolical design
Here's the reply I got
I had seen the article this morning which has put a new light on the whole story. My assumption was that they had gone into administration and after having tried all avenues, worked with the administrator to explore all remaining possibilities, and then went for what they announced.
Cityam is suggesting that potentially things might have happened very differently, I’ve just retracted my support, thank you for flagging this.
Best
Stephan
I know you were looking for a competitor to Mirriad LovableTB, looks like Qortex is possibly it.
So maybe you want to go & do some research on it & give us your take on it ? I haven't looked at it yet, but the name has come up twice now in 3 day. The Albert Thomson video & the linked in post from 2phevs this morning.
LOTM
Morning LovableTB & 2phevs,
Please keep it civil.
There were 3 trades that went through for 20M shares on Friday all with the same time stamp, I commented on it when the 1st one went through & then again when the other 2 went through.
LovableTB, I'm very wary when I see 3 trades that have the same timestamp to think any 1 of them actually took place. If it did occur then it was a sell for sure, but personally from past experience the chances of it actually having taken place is 25% We'll soon find out via a declaration in the next 3 days if it did happen because it will have to be declared.
LOTM