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Far too technical. They need to start giving revenue and earnings targets otherwise they'll just lose investors attention. The stock will just become a conviction investment based on people's belief in Ben and his sales team - perhaps it is that already.

Hi Looed,

Thank you such much for all your efforts here. I really appreciate your tenacity and perseverance keeping the lines of communication open. Fingers crossed!

Lloyds/Halifax/iDealing take the same view as Barclays.

Interestingly I was told by Lloyds if I bought the US/NYSE listed DEC shares they would just charge 15% withholding tax. However, I would probably also incur a currency conversion charge because the dividend is paid in USD rather than GBP. (London listed DEC shares when bought through nominee brokers, pay the dividend in GBP generally. )

The situation also differs for dividends paid for shares held in a SIPP. AJ Bell don't charge any withholding tax on DEC dividends (for shares bought on the London market) for example.

Https://www.tradingview.com/symbols/NYSE-DEC/forecast/

Showing $14.24 post-market.

Comment from Allenby Capital yesterday in their Small Mid Cap Sector weekly update.

After several years of heavy investment, Mirriad is moving from market building to a growth phase. This should accelerate with the availability of programmatic functionality in 2024 that will streamline the ad slot buying process and integrate it into the existing programmatic media buying marketplace. Mirriad is focusing on the US, the largest and most developed ad market, and recently signed a top three US entertainment network on the supply side and already works with nine of the top twenty US advertisers. The current share price fails to reflect the company’s achievements to date or the potential for rapid growth going forward.

* Allenby Capital acts as Nomad and Broker to Mirriad Advertising plc.

@JDF7 it's sub 3p because of Covid and Crispin Odey. Advertising is cyclical too. I think the company has done pretty well under the circumstances. By no means are they out of the woods and like others I would like to see revenue and profit forecasts for the next couple of years.

Buy article in SCSW

It looks like Rathbones are advising their clients to buy the stock and have been for some time. 15% of the company is now pretty high. They have a small cap research team, who must have been looked into the company and its prospects very carefully.

Thanks 2Phevs, I hadn't read the detail of yesterday's RNS. That paragraph about revenues is very significant.

Quite a lot of stock was bought at 1p or so (which would have been Odey) which now represents a decent profit for many traders. Without news about the H2 revenues and the remaining cash runway, this is a "conviction" purchase. The company issued a trading update 15th December last year, so we'll probably get something soon.

It would be amazing if they could reduce the current cash burn of £700,000 a month to a surplus (unlikely at this stage) or at least a significant reduction to say £250,000 a month. That would lift the share price quite a bit. H2 revenues are likely to be higher than H1 apparently. There is an ever present risk of a heavily discount placing, especially if the trading update is good. (Something like like RUA or HUM)

The Allenby update on 04/12 had nothing new in it (I thought) and was really just a summary of everything we already know.

I'm tempted to buy some before the next update on a bet that the cash burn is reduced. Don't know... just an idea.

It's a carefully considered note. They factor in £800K licence revenue PA for Heart Valve from FY25. I agree that using the 2026 estimated profit you can come up with a potential share valuation much higher than the 25p they quote for now.

Cavendish published a note this morning. Target 25p. That's more realistic.

From ADVFN, trading data for today.

Buys 365,853

Sells 190,576

Mid 30,552

Buying significantly greater.

I think the reason for the 10% markdown at market open is that despite the good medium term news, the downward revision for 2023 means a fundraise of some kind is needed sooner than it was. Obviously huge potential here, especially contaminated groundwater from landfill. I think someone like Dupont will take a stake, or just bid for the whole business. This could easily come about in 2024.

Thank you Looed for all the work you have put into this and for keeping us updated.

I'd be over the moon to see it relisted under more honest management. After that what happens is just a bonus ++.

The MIRI 2026 revenue target is $125M. Let's assume they sign sufficient Tier 1 accounts this year/early next year to avoid another placement. This will then fly and will be one of the THE investments of the decade.

2phevs - what will you do with all the money? Your holding will blow your ISA limit. Because of the programmatic efficiencies of scale, $125M revenue = EBITDA of $50M? On a (by then) p/e of 10 that would mean a hell of a profit from here.

Laura, you might also like to listen to this. James Thorn, fund manager at Columbia Threadneedle being interviewed by Paul Hill/Vox Markets, June 27th this year. Fast forward to 59:25 where J.T. talks about Mirriad.

https://www.youtube.com/watch?v=625JF5c448c

Date Time Trade Prc Volume Buy/Sell Bid Ask Value

02-Aug-23 11:12:44 0.8994 16,000,000 Unknown* 0.85 0.90 143.90k O

02-Aug-23 11:13:06 0.90 16,000,000 Unknown* 0.85 0.90 144.00k O

Just two buys?

Looed, Raven Russia might make an interesting case study for shareholder comms. They are delisted now because of the Russian sanctions. The company has enough cash to keep going as a private organisation based in Jersey for 4 years, so there is a need for shareholder coms. They offer a matched bargain share trading facility for the ords and the prefs. There is a website and I believe the accounts are still audited, so shareholders will see annual accounts. There is no ongoing legal action, the assets (warehouses) were transferred to the Russian management in return for debt which accrues until the sanctions are lifted.