Member Info for LOTM-13

Sorry I should have said to look at the Mirriad (MIRI) board for more details on Dr JS Milner etc.

Yes I am a Mirriad Shareholder, but this caught my eye when I was doing a bit of digging.

https://www.nuclera.com/company/board/jonathan-milner/

Antibodies with a multi billion company he was chairman of.

LOTM

@chrishutch, I'd never heard of this guy until today, but a Dr JS Milner seems to invest in this sort of field, I wonder if anyone from FAB has got in touch with him to see if he would invest in the company or join the board of directors to give his input.

With your contacts you might be able to find out etc .....................

I think FAB would be rigt up his street so to speak.

LOTM

So he provided £0.5M of the placing cash (40M x 1.25p)

Will be interesting to see if he tries to increase his stake any more.

LOTM

I wonder why it took them so long to get that holding notification out?

LOTM

What is it with Doctors now !

Dr Cooley here & a Dr JS Milner has just bought nearly 4% of Mirriad in a recent placing !

Still expecting to see another RNS to say Dr Cooley has gone to 400M shares ................

LOTM

LOTM

Well that changed my plans & got me to buy that other 100,000 shares at 1.1349p to take my holding up to 2M now.

LOTM

Hi 2phevs,

I can't open the link as I don't use Linkedin.

I'm guessing you've found the right person..............

hmm 40M shares, I wonder what was said to the Dr to get them to invest that amount of cash in the placing. given it looks like they didn't previously have any holding in Mirriad.

Who introduced them to the company etc .............. I wonder where the connection lies

LOTM

Wilson & Sons have a new presentation out, worth having a look at it, has some new info in it.

LOTM

Just about to buy another 150,000 shares at 1.074p

LOTM

DrMicho,

That is very misleading of you, given you've been around FAB since I first came across it & I have made numerous posts regarding staffing numbers.

They have been taking on staff since February & you know that's true, your simply trying to mislead people by referring to the headcount reduction that occurred in 2023, not what's occurred in 2024 with the increase in staff to 29 currently plus 1 in not 2 job vacancies.

So here's a reminder of an earlier post of mine................... I've not added LT in the USA to the list yet

-------------------------------------------------------------------

So we've got 18 of the staff accounted for so far

CSO - [Chief Scientific Officer] (RB)

CRD - Collaborative Research Director (SAL)

Operations Manager (NH)

Team Leaders - 3+ of them known about so far - Protein (JB) Transient Gene now R&D ( MC)

Senior Scientist - Protein (BC)

Scientist - looks like that will be split into 3+ (given the number of Team Leaders)

Still to locate in the chain -

Business Development Manager - (BA)

Scientific Business Development Officer - (CK)

Principal Scientist - £36,829 - £49,404 a year awaited

Senior Health & Safety Scientist - (CB)

Senior Technician - (is below Senior H&S scientist role in the tree or salary)

Administrator - (LC)

(RM - position unknown)

Jobs advertised a month + ago (closed 08/04/24)

Antibody Engineering Manager

Antibody Engineering Senior Scientist

Production Scientist

Previous Advert - 4 months or more ago

Facilities Manager - (JG)

Production Scientist - (SH) (RD)

Laboratory Technician - (MB)

positions unknown (DC) (S.McQ) (Cia.Doc)

LOTM

Oh I'm along way from being finished with them as well.

I was re-reading parts of the annual report overnight.

The CEO signed his statement on 3rd June & within it, it said this

"2023’s revenue profile was based on a labour-intensive manual sales process, and in 2024 we will initiate the transition

from this first market building and adoption phase to programmatic selling.

Programmatic activation with the first partner is expected to occur in H1 2024.

Now working with tier one US partners as a priority, this approach is expected to open up increased volumes,

far shorter lead times, automated transactions and true scale. "

That gives him virtually no wiggle room if Programmatic is not delivered by the AGM as he's signed off saying "expected to occur in H1 2024." with only 27 days left before that deadline occurs.

The other one I would highlight is on page 77 but doesn't copy & paste well

2023, 2022

Revenues from external customers by country, based on the destination of the customer £000 £000

USA 1,383 1,101

Germany 168 68

United Arab Emirates 92 17

UK 65 28

Canada 46 80

China 17 148

Turkey 16 34

Japan 12 12

France 4 12

Belgium — 7

Total 1,803 1,507

Revenues of £515k (2022: £161k) are derived from a single external customer based in the USA. None of the total revenue recognised for the year was recognised over time (2022: £83k) and £1,803k was recognised at a point in time (2022: £1,424k)."

Germany only produced £168K last year & the UK £65K.

Was there anything else Mirriad did in the UK other than those two C4 programs in 2023 ? or can we pencil in roughly £25K or £30K for each of this year's 23 programs.

LOTM

Https://www.linkedin.com/posts/mirriad_mirriad-co-hosts-inaugural-inclusion-in-activity-7204886129450373121-fLKm

Clearly Maria & the others have been putting this all together for a while now.

I wonder how many more will sign up at the Detroit Strategy session on Sunday..................

This could be the catalyst we've been waiting for to see VPP at scale (provided of course that they've finished proper end to end Programmatic)

LOTM

Hi 2phevs,

That ones a really good find. 3 people from GM attending.

Maria is on early Saturday morning.

The bigger picture event thou is the closed doors strategy session from 10am onwards Sunday................

LOTM

To be honest I'm more interested in what Maria's plans are over the rest of the month.

I'm guessing this weekends event in Detroit is to try & get more company's onto the Diverse Marketplace ahead of Cannes Lions, given the names on the coming soon list haven't moved onto the actual list yet.

Then presumably Cannes Lions is to build on that momentum ahead of full Programmatic capabilities with both suppliers & advertisers.

LOTM

I remember the Allenby Capital one.

Well, if you decide to go to the AGM then you'll be able to ask questions of the Allenby Capital guy etc & the CEO will be wary of what questions you might ask him.

The fact there is no Webinar of the event & they want to know who's attending 48 hrs in advance (room size is just an excuse) means there going to try & continue the "bunker down" mentality seen to date.

LOTM

Doesn't sound like you actually have a high average purchase price then 2phevs.

You need to be careful when communicating with those inside a company, you can end up either to taken in by it all, or unable to act because of what you know & thus not able to trade until the news comes out.

Posting any of there stuff will usually make you persona non grata virtually instantly, as they'll have you down as a liability from a corporate governance point of view & a thread to there career's.

So you really want to be sure its worth posting any of there messages before doing so.

LOTM

Hi 2phevs, thanks for the update.

Oh I thought you'd been in Mirriad a lot longer than July 2023 !

You must have put in some hours since then to gain the knowledge you have of the company & how everything links together. I honestly thought you'd been in for several years.

LOTM

Https://uk.indeed.com/cmp/Fusion-Antibodies/jobs?jk=2c6e961b08dcb473&start=0&clearPrefilter=1

Laboratory Technician

Finally seeing them looking to take on new staff at the bottom end of the spectrum .

Interestingly the last post they tried to fill doesn't look like it was, as staff number still at 29.

LOTM

Https://uk.news.yahoo.com/aberdeen-based-waldorf-production-intends-161400971.html

The worrying bit of the article ......

"The North Sea Transition Authority and Offshore Petroleum Regulator for Environment and Decommissioning have been kept appraised of the prospective holding company administrations, and have provided certain assurances to the proposed administrators.

A separate secured bond with $50million outstanding has been issued by Waldorf Production UK, another group subsidiary.

The main assets secured in favour of this bond are its 20% interest in the Catcher field - separate from the 20% interest in Catcher previously noted - and 29.5% interest in the Kraken field.

Again, Waldorf Production UK, which owns these assets, is not in administration and will be engaging with an ad-hoc committee of bondholders in short order."

-----------

In other words the old CNE assets have this $50M bond that's now in default secured against them!

Sadly looking more & more messy right now :(

LOTM

Ok, I've looked a different way to the company website & I see from RNS's that last year's interim results was both a presentation & a webinar.

In 2022 both the Annual results & Interim results had a combined presentation / webinar.

So why are they not doing a webinar with this year's AGM ........................... yes you've guessed it.

Still to find any roadshow details.

LOTM