Member Info for LOTM-13

Hi Laura2022,

No problem.

Well it's just a case of taking it one step at a time, we have under 6 weeks to see if they do achieve end to end Programmatic before the end of the year.

I don't know if you listened to the September Webinar ?

In it the CEO talks about the $20-40M (could be £'s not $ but it covers the lower end) Upfronts deal that failed to finalise due to the content provider not being able to give the "clearance" the Brand/Multinational wanted.

"Clearance" could be down to several things & we can only speculate what they would be & since Mirriad wasn't privy to any of the discussions they might not know the full story either.

The point being even if the deal had completed at the lower figure $20M Mirriad's gross share of the revenue would have been @ $5M apply Mirriad's cost of doing the work & you're left with $4M. That's over 33% of the cash needed to run the business for a year.

Now it would only apply to one content provider & Mirriad's largest has around a 16% share of the USA market (Mirriad has 39% of the market signed up & in negotiations with another 49% of the Market).

If your a major Brand/Multinational your not going to just do VPP with one Content Provider your going to do some with all of them (yes the others might get a smaller % of the budget if there is a preference). So you'd expect to see other deals go through as well. And that was with just one Brand/Multinational.

I'm guessing the 3 others in the top 5 not signed up will want to see End to End Programmatic before they want to come on board, if they can then get 1 or 2 or even all 3 signed up before the end of Jan 2025, then they should be able to sell VPP in May at Upfronts.

In which case you could be looking at revenue in the late part of 2025 from just one Brand/Multinational being enough to cover close to if not all of Mirriad's annual costs!

But you won't get there without End to end Programmatic working.

LOTM

ll,

you simply can't help yourself.

here's some of your full quotes to show everyone the true story

"i was buying ahead of the results so in the 60s, anyway i will button it! i have been a holder for over a year so have a low average and although a little frustrated at myself (timing-wise) the company is solid with huge potential and hopefully contract rnss soon to regain momentum."

"agreed. clearly the iis have been reducing while mug retail investors like me caught the falling knife. i understand it takes a while for agreements to convert to revenue but still it is **** poor and have lost a little faith in the ceo. it’s as if those iis who bought at 40p had a whiff of the poor h1 and reduced hence the fall."

"after raising at 40p and all the optimistic maybe rampy interviews after i hope the ceo is feeling some pressure. still cannot get over h1 although get h2 and particularly q4 the busiest time but seriously poor and less than double forecast for h2 and that is with a broader tencent deal, pepsi co on board, disney et al. campaigns take time to plan but if these guys cannot concert their pitches or indeed scale this looks like it could be jam tomo for a while. i have not sold any fwiw but am kicking myself for my large top-ups a fair whack higher than the 40p raise. stephan and team need to pull their fingers out."

"yep. i used to have a great average when i had around 300k shares but ended up buying another 200k and increased my average to circa where the share price is now. oh well. here for the long term anyway and average well below 40p raise so should not complain. cannot believe no other us tier 1 sign up."

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price at the time of that last post 27.5p

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talking of linkedin

"they are clearly working with netflix, no way would a senior employee post that on linkedin if false. if it goes well i suspect they will have many more projects to follow. hopefully disney et al running more too."

there's the evidence, readers can decide the rest for themselves. i can print the sells again if needed.

lotm

LL,

Another set of lies, I didn't know Mirriad existed until the 8th of April 2024 ! the share price has never reached 2.5p in all the time I've known about the company.

You've been caught out, your Mirriad claims around your holding & so called short don't stack up. You've lost between £125,000 & £160,000 possibly even more than that & claim that one "short" reduced those losses to under £40,000 ! All the while, while still claiming to be holding onto 0.5M+ shares.

You've no credibility in that regard whatsoever. Your bitter & twisted because of it.

I notice you've failed to respond to my post from 15:15 but that doesn't suit your agenda does it, because transparency isn't the name of the game as far as your concerned.

LOTM

Hi Laura2022,

Well at £1.7M with £6M in cash & no debt, the market currently has it priced to fail.

At the current cash burn rate, it has 6 months to prove its business model actually works.

It simply can't do that until it gets end to end Programmatic installed with at least one of its bigger partners (and then needs to add others as quickly afterwards as it can, but that's not within there control)

Once (if) that's achieved then we will get our first glimpse of what's possible especially now that they have "Measurement" in place.

LOTM

Hi 2phevs,

I'm not interested in there spin, doesn't washwater with me full stop.

We are left waiting on end to end Programmatic which is the next piece of the puzzle (& hopefully the last bit). Until its done the needle won't move.

Yes Measurement is clearly important, my concern is why wasn't it in the statement & why hasn't it moved that needle in the 20 days since the ispot data was published !

LOTM

Hi Ace24, mcadder

Yip, yet another setback with Mirriad.

Doesn't really change the fundamental question thou at the end of the day. They have the cash (& no debt) to prove whether there business model works or not in the next 6 months.

If you want to discuss it happy to do so with you over there.

LOTM

Hi TrickyEFC,

So someone with 12,000+ posts to there name, goes to another BB & posts a message saying ENET is on the move when the official bid & offer prices haven't moved all day.

Pretty sad don't you think ?

LOTM

Hi 2phevs

Sorry I'm slow at typing etc so it takes me ages to write each long post.

Nothing new on Stephan's account, other than 2 new followers that's it.

I hope your ok ?

Definitely was a big shock, but doesn't really change anything for me, the timeline is virtually the same as it was before for them to prove this business model works.

There are serious questions that need answered straight & to the point, no flannel or waffle, just the plain simple truth.

I won't be selling.

LOTM

LL,

I note you used TBTT's post from advfn instead of questioning the cash position yourself, until your 10:52 post.

If you had actually spent 5 mins doing a little digging around (& possibly you did then decided to ignore it for your own agenda) you'd know that Mirriad has one of the simplest & uncomplicated balance sheets out, no non-current liabilities whatsoever (see interim report or annual report for that matter).

Total current liabilities at the end of June amounted to £2M. Total current assets at the same time amounted to £10.16M with £8.291M of that in cash or cash equivalent.

Thus trade & other receivables + other current assets virtually cancel out the total current liabilities ( a short fall of just under £0.2M) For transparency the difference was +£0.4M at the end of Dec 2023.

Cash burn has actually been less than I expected it to be at less than £2.3M over the 4 month's (with as you've constantly pointed out virtually no income coming in from the 1st half of 2024 during that time period). That's under £600K a month over the period.

So certainly enough cash on the books to prove before the middle of May whether this business model works or not.

Unless of course there is some significant mystery costs that are going to appear that TBTT & yourself know about that no-one else does? but I highly doubt it given the simplicity of the accounts.

LOTM

Now that I'm home again lets start to deal with all of these posts!

I will re-iterate I am far from happy with what's been said.

End to End Programmatic has been a complete lie. They signed off the annual report on 3rd June, in which it stated it would be up & running & generating a little revenue in Q2. 25 Days later we're told its been delayed.

At the AGM we were told, it was like the channel tunnel, Mirriad had done there part & handed over the equipment to the the other side & they could hear them coming!

21 weeks later its still not up & running & I won't believe a word of this "its going to be done this quarter" until it is officially announced as such.

Clearly the Political advertising opportunity didn't bring in any revenue, so we need to find out the reason behind that.

Why have a number of contracts been cancelled what is the reason behind that ?

I emailed them in early October emphasizing the need for the board to contact the major Brand/Multinationals to find out what was holding them back from using VPP, doesn't look like that has happened or if it did was listened to. Will be digging into that a lot more.

No mention of Measurement & ispot in the announcement which is very disappointing indeed.

I can only assume for now that in the 20 Days since it was announced there has been no significant increase in inquires or campaigns being run.

Again you have to ask why is that the case.

There are a lot of questions & not many proper answers that's for sure.

Including the role of the sales / ad departments within the major content providers who were meant to be taking on the selling role & ad partnerships that don't seem to be delivering either. Clearly none of that is working as it was meant to. Sadly more missteps in the process that started with moving to quickly away from Manual mode before Programmatic was anywhere near ready to go.

Does this 3rd revenue warning really change the dynamics, not really other than shortening their time window to prove the business model actually works.

The priority is getting End to End Programmatic finally working with at least one Major content provider & then adding others as quickly as we can.

Only at that point will we have a true idea of the task at hand & whether the business model has any chance of success with both end to end Programmatic & Measurement in place & functioning as they should.

LOTM

Hmm that update has come as more than a bit of a surprise, wasn't expecting that at all.

3rd revenue warning this year!

Nothing in the quick read through Ive had to say that they are seeing any uplift after the ispot news release, which has to be a concern a real concern.

Programmatic, we were clearly misled at the AGM to where it was at.

A lot to think about & not pleased at all.

Why do they always put out an announcement when I have something on :(

Ok will discuss more later in the day when I get back.

LOTM

Well it went below the £1.65 barrier this time, is it going to bounce weak or strong as a result.

LOTM

There's a lot of placements in Tulsa King, but yes some of them could be VPP ones.

I see someone is selling stock today.

I guess there not aware of what's happening in the USA today! if I had the cash I would definitely be hovering them up, sadly I don't.

LOTM

Hi 2phevs,

That link you supplied was for Christopher Vollmer & incorporated the Medialink post you put up yesterday in relation to Paramount !

Now Christopher is talking about Warner Bros Discovery! & product integration there. Now on that Disqo link one of there clients if you look near the bottom on the trusted by section is Warner Bros Discovery!

LOTM

Hi 2phevs,

I wonder why Mirriad's name isn't on that list of partners ? (unless its still to be officially signed) or maybe it falls under the partners of one of the big names already there !

I don't know if you've looked at https://www.disqo.com/ before or not ?

I happened to find them in an article below an LW post!

Stephan is gaining followers another 2 since yesterday but on other activity thus far on what should be an important day for him!

LOTM

I know people are not going to like this post, but this is the reality of where things stand & they are worse than I imagined them to be.

I hadn't looked into (researched) ENET as much as some others have, having been put off by the "Structured Deed" as soon as I saw it & that was when the share price was like 0.75p so maybe July timewise.

I've just done a little bit more digging around & in all honesty the stupidity of this board of directors is the worst I've seen & I've come across some bad ones over the years.

As LearningG pointed out they want approval to increase the number of share that can be in issue from 1 Billion to 1.6B ie an increase of 600M.

Now they need to allow for the rest of the "Structured Deed" = 170M minimum possibly more, there's also the 190M warrants that were issued at 0.75p in September to take into account plus the options there hoping to get granted (fat chance of that I'd say).

The "Structured Deed " has an 8 month life so runs out in early Jan. So the authority will barely have been granted before NTC have to make decisions regarding exercise etc.

After which the headroom left will be down to what (1.6 - 1.07) just over 500M shares.

Now if anyone looked into the half year accounts (to 30th June) they would have seen the bank balance at $580K & that currently liabilities exceed current assets!

Yes the company raised an additional £540K after that (less expenses), but it had negative receivables of $740K ($460K-$1.2M) on the books that it needed to settle.

On top of that it has to find at least $600K between the end of June & 5th Feb 2025 to settle the rest of the TSP.

In other words it will need to raise additional cash from somewhere before that final $300K payment is due, simply to settle its debt nevermind have working capital to keep the business going.

Without even talking about who's going to want to give them more funds etc or at what price, they'll be at that 1.6B mark if not beyond & having to call another EGM to increase it further! again more costs involved & paid for by shareholders not them.

Why didn't they see this outcome & plan accordingly & request a 2B cap instead of 1.6B !

LOTM

Hi 2phevs,

Sadly the link won't open for me :(

https://sneakernews.com/2024/10/31/jordan-november-2024-release-dates/ came up in my Mirriad searches last night, so there might be a sneakers war going on !

As long as we're getting part of the action or both sides of it I don't mind, just need to generate revenue! :)

LOTM

Hi All,

Well it didn't quite get down to the £1.65 mark the last time before bouncing, will it do the same this time round or will it actually test the £1.65 mark ?

Walkietalkie, the high street doesn't seem to be the place to be, unless you think there going to reverse the budget decisions ?

Because all the main players are saying price rises & job cuts are currently inevitable in hospitality.

GLA

LOTM

Silverlight,

Your true colours shining through as usual, not an ounce of sympathy for the vast majority of shareholders, especially long-term ones who have suffered terribly because of director failures & greed.

No your only interested in yourself & posting lots of things that have in time turned out to be incorrect to push your own agenda.

My posts on ENET are based the information out there, but you simply don't like that because it doesn't suit your agenda, so you just close your eyes to it & hope it goes away & hope other people won't read it either.

You should be worried about your own well being.

LOTM

Hey Escapetohome,

They awarded themselves 17.3M options in May at 1.5p & now because of there horrendous failure in understanding the terms of the "Structured Deed" that they signed & diluted the poor long suffering shareholders to oblivion. Think that its ok 6 months later to try & give themselves another wad of them at less than the recent placing price. To stiff another set of investors as well.

They simply have no shame.

Now the shareholders have to keep the share price from breaking below 0.1199pat all costs otherwise more dilution is coming there way.

A total shambles & heartbreaking for shareholders.

LOTM