Member Info for LOTM-13

Hi milo66,

It very much depends on what kind of investment your interested in, ie by sector oil & gas / shipping etc or by risk profile - safe to high risk ?

Then I could give you some names to do some research of your own on.

LOTM

Hi Escapetohome,

Yes very sad indeed, but could be seen a mile off.

They had to issue the 195M shares at 0.1p that was the terms of the deal they had entered into.

The placing at 0.3p was of there own making & just compounded there previous horrendous mistake. As I said at the time allowing NTC to take part in the placing itself was totally stupid, as it allowed them to help set the price that the placing was done at & helped them profit even more from the structured deed.

The CFO should have been fired for both actions.

LOTM

Hi LearningG,

You've obviously looked into this in far more detail than I have done.

So they'll now need to call an EGM ASAP to sort out the number of shares they can issue.

I'm going to suggest (without looking for the data to prove it) that the warrants have 1st "rights" over the still to be issued part of the share capital, since they were in existence before all these extra shares needed to be issued & that that might be the reason behind why they could only exercise £195,000 for now !

(and yes I could be wrong with the above thought).

This next bit is not to alarm people but follows on from LearningG post

Depending on the full terms of the structured deed - I'm now wondering in a worst case scenario if they might need to suspend trading in the shares until the EGM is held etc because there's likely to be a clause within it about how long they have to issue the shares to NTC once they exercise part of the deed.

Could be a lot of unforeseen implications given that new news for people to keep an eye on & be aware of.

LOTM

Hi Mickey1122,

No I'm not invested in ENET, I've done 2 day trades a few weeks ago & broke even that was it.

I've looked at it a couple of times & quite like the story to be honest, but the terms of the structured deed made me steer well clear of it.

Hi skid35,

Sadly it was staring everyone in the face, standing out like a sore thumb & no matter how much you warn people about it they still chose to ignore it.

I have no idea what ENET directors were playing at entering into this deal, to be frank shareholders should oust the lot of them, incompetent doesn't come close to their stupidity on this one. I'm not sure you could have found a worse deal if you'd tried!

Hi sandgrounded,

I'm not sure when the next 20 day window will start, I'm still perplexed by why they didn't exercise more of it this time round. Its not helping anyone still having that £210,000 (less £40,000 effectively) outstanding. NTC are hurting themselves.

I had worked out 3 possibilities earlier, NTC were going to exercise the lot then make an offer for all of ENET or enough to get over 50% control, they were going to exercise it all & sit there passively to see what unfolded over the next 6 - 12 months, or just keep selling into the market & bank the profit that they alone are making out if this. i think this move rules out the first scenario for sure the others are still in play I'd say.

LOTM

Sorry I had to go out around 07:30 & just back now, I have a few messages to reply to.

Hi milo66,

The market decides the dilution to the share price & that will change all the time.

It doesn't change the future of the company at all, its future is just the same as it was on Friday, or the previous Friday for that matter.

All that has happened is that some of the £800,000 that New Technology Capital (NTC) gave to ENET has now been converted into shares. Sadly on horrendous terms for anyone already invested in ENET.

ENET had hope that this Deed would result in only 80 -100M shares being issued to NTC mainly at 1p or if they got really lucky even less than that if the share price went well above 1p. Sadly for everyone bar NTC the directors totally failed to realise the downside to the terms of the deal they struck, which are now in plain sight for everyone to see.

There is still £210,000 less (40M x the next exercise price - which is likely to be 0.1p) So NTC will most likely end up with another 170M shares & there will be 1.07 Billion shares in issue.

The company is most likely going to require additional funding which will now be very dilutive indeed because of what's just happened & where the share price is.

Even if it didn't - lets imagine the company gets some good orders in & starts to be profitable. The market then decides the company is worth £7M for arguments sake. With 700M shares in issue that would have meant a share price of 1p per share, with 900M shares in issue it would have been around 0.82p, & with 1.07Billion shares it's about 0.69p.

In other words a massive difference in what the share price would be.

Dilution kills Private Investors.

I hope that helps explain things for you.

LOTM

Hi Laura2022,

I'm really sorry its turned out this way :(

I can't work out why they only converted £195K at that price, because they can't get a lower conversion price for the rest no matter what !

A really strange decision as far as I'm concerned, can't make head nor tail of it :(

I will have to ponder that one for a while.

All the best to everyone

LOTM

Hi Laura2022,

Sorry to say I was right :(

I tried to warn everyone that they were going to get diluted out of sight due to the stupidity of the ENET Directors.

LOTM

Hi LWHL,

The cash runway is meant to see them through to break-even in Q3 2025, whether they achieve that is another matter.

Share price has been hammered by a combination of events, very poor communications from the company to its shareholders, where Programmatic & other things have not been explained appropriately at all. The inability to tell the truth & failure to answer direct questions (especially from the new CFO). Followed by 2 revenue warnings & end to end Programmatic delay & issue with the SSP they were meant to be working with & the loss of that very significant $20-40M deal (loss not really within there control). Moving away from the intensive Manual mode to early is hurting them as well.

The fact one Brand/multinational was prepared to spend that amount of money with one Content Provider is the major plus. if they get another major content provider signed up & thus have over 50% of the market signed to the product (get all 3 deals done & its 88%) is another factor that needs to be taken into account.

There secretive nature means Investors have no real idea of what progress is or isn't being made.

So who knows what the next announcement will say!

LOTM

Hi LWHL,

It's all to do with the Diverse Media Alliance they formed in August

https://blog.mirriad.com/diverse-media-alliance-launches

Which in some ways is an extension of Mirriad's Diverse Marketplace, which covers many minority Content groups.

And yes within that the calendar year is split up into various month's assigned to a DEI grouping etc.

LOTM

I suggest anyone wanting to read & fully understand this post reads my initial 4 posts on the thread "Lost Sight of the Overall Prize / Outcome" from 11th October 2024 first of all & comments on the "Raise" thread from 13th October to Merciaman for potential risks as well.

I wouldn't normally go about doing a potential valuation this way, but by doing so I'm leaving the rest to your own imagination & calculations, as to what might happen further down the line.

Just to be clear for transparency, yes it might not even get it this initial valuation of mine should end to end Programmatic fail to occur or VPP fail to live up to expectations in the next 8 months or so & could go broke in a worst case scenario.

So we know from the September Webinar that one major brand/multinational was prepared to spend between $20-40M on VPP with a content provider & the biggest one of the 40% signed up with Mirriad has 16% of the USA market.

Mirriad net share of that is between 25-30% (I've used 25%) & the gross margin is meant to be mid 80's but I've used 80%. Mirriad's annual running cost are around $12M.

So Mirriad would have got between 33% & 66% of its annual running costs from just this 1 transaction ($20M*25%*80%=$4M)

So what would it take to have a £6M annual profit ?

$100M*25%*80%=$20M less $12M annually = $8M or a little over £6M

What P/E ratio should such a business be valued at ?

I'm going to say 6 times is a reasonable starting point

So that would give Mirriad a market value of around £36M which is around 3.5p per share or 10 times the current share price.

Remember Mirriad has @ 40% of the USA market signed up & is negotiating with another 48% of the market. Also major brands/multinationals don't limit there ad spending to just one Content provider.

I'll leave the rest to everyone's own imaginations & the risk / reward profile

LOTM

Latest post ........

https://www.linkedin.com/posts/mthernandez_blackweek-was-more-than-a-conference-it-activity-7253146778328252416-Q7p7

Blackweek was more than a conference, it was a space for changemakers to come together, break down barriers, hold systems accountable, and claim the respect and investment our cultural influence has long earned. At a time when brands are backing away from DEI, this week was a powerful reminder that ignoring us is just bad business.

Big ups to Joseph Anthony, Adan Romero, Walter T Geer III , Monique Nelson , Dabo Ché, andre gray, Gabrielle Shirdan. You all did THAT!!

Also love that I got to finally meet the formidable Lola Bakare whose unapologetic, fierce energy lit up the stage. She delivered truth with passion and left us all rethinking the language we use.

BlackWeek may be over, but I’m feeling recharged and inspired as the work continues! 🖤🖤🖤🖤

LOTM

Https://www.nytimes.com/2024/10/17/us/elections/future-forward-kamala-harris-ads.html

LOTM

Https://www.linkedin.com/posts/mthernandez_holidayseason-virtualproductplacement-activity-7252104310803574785-hO9d

🎬 Cue the holiday magic! 🎃🦃🎄 The season of binge-watching, gift-giving, and turkey-eating marathons is officially upon us — and at Mirriad, we’ve got the perfect plot twist to help brands become part of the story, not just another commercial break.

With our Virtual Product Placement (VPP) technology, brands can star in the heart of in-content scenes — seamlessly blending into everything from holiday shopping sprees to festive cooking moments and cozy celebrations. Instead of traditional ads, your brand is naturally woven into the programming viewers love.

And here’s the best part: With our new measurement tools, you can track the real impact of these placements, including in-store visits, website traffic, and even sales. Talk about making holiday magic measurable! ✨🎁

LOTM

Hey 2phevs,

You'd have been in your element with all the names that are coming out of the woodwork around

https://www.linkedin.com/posts/akhilesh-raut-476585b2_as-i-bid-adieu-i-want-to-mention-a-few-special-activity-7251864146109992962-CuCS

Especially https://uk.linkedin.com/in/phil-mclauchlan-8a33091?trk=public_post_comment_actor-name who seems to have been behind many of the patents Mirriad has etc.

LOTM

Pretty sad that they are getting rid of staff who have been with the company for 16 years ! & seem to have really enjoyed there job with the company!

LOTM

This is a really interesting read about what's going to happen re political advertising in the coming days

https://newrepublic.com/article/186735/inside-2024-political-ad-machine-expensive-dubious

LOTM

Hi 2phevs :)

Thanks for the info & I'll certainly have a look at there profiles etc but I just don't use social media & anything connected to it. To old fashioned.

They did talk about staff reductions in the webinar.

I hope your doing ok ?

LOTM

My goodness Laura2022, what happened since I last viewed the market around 9:15am !

Certainly didn't see that coming.

I didn't think shareholders would come together to try & ensure there aren't 5 days combined where the volume weighted price for each day rounded down, when added together doesn't fall below that crucial 0.236p mark.

Clearly someone is trying to stop it happening so will watch with interest.

If New Technology Capital do get there 5 day average of under 0.236p then we'll get to see if they do exercise the conversion of the deed or not. I believe that is there plan, but you obviously have different thoughts on the matter.

Once they get it converted they'll be happy to see the share price rise. The next question after that is are they going to try & buy the rest of ENET, be a stable long term investor or just look to sell the new shares for an overall profit. And the answer to that question is anyone's guess right now.

LOTM

Hi Laura2022,

I'm sure the amount New Technology Capital has is dwindling, the problem is they have finally reached there goal of getting the share price below 0.236p

They will likely now simply try to ensure that it stays that way for 4 more days ( volume weighted average price).

By doing so, they get rewarded with an extra 202.5M shares! ( £405,000 - [40M x 0.1p]) = £365,000 at 0.1p per share = 365M new shares. Whereas if the share price stays above 0.236p the calculation becomes ( £405,000 - [40M x 0.2p]) = £325,000 at 0.2p per share = 162.5M

Sadly everyone else loses out from that massive extra dilution.

LOTM

Univision which is one of Mirriad's Diverse Media partners in its Diverse Marketplace, recently held a townhall in Nevada for Harris & is holding one in Florida for Trump 16th October.

https://www.msn.com/en-us/news/politics/in-nevada-dnc-launches-bilingual-ads-billboards-ahead-of-harris-univision-town-hall/ar-AA1s1WR0?ocid=BingNewsSerp

They are both seriously targeting Latino Voters in the swing states!

Now whether any of this leads to Mirriad's VPP getting any Ad-$ we simply don't know, but it's going to be hard to find anything closer to it doing so - evidence wise.

LOTM