Member Info for LOTM-13

Hi 2phevs,

I was looking back & see that in 2022 & 2021 they produce 2 presentations each year, but yet only 1 in 2023.

Do you recall by any chance of them doing a Webinar & when the last one likely was ?

Do you know of them doing any "official" Roadshows & if so when the last one likely was ?

As I'd like to be as factual as possible when I write some more emails.

Thanks

LOTM

Just bought another 150,000 for the record.

LOTM

Hi 2Phevs,

Well at least we know that Canela is leading the way, in a way that we can follow it (ie a new app) & that its due to launch at some point in Q3.

I guess that all ties in with the Cannes Lions Media dinner.

Maria, dotting her i's & crossing her t's on the master plan.

LOTM

Maria is now co-hosting a Dinner at Cannes Lions -

https://www.linkedin.com/posts/mirriad_inclusioninmedia-strengthinunity-powerindiversity-activity-7204195767396290560-_Kg2

I do hope they have Programmatic fully functional by then.

LOTM

Hi 2phevs,

From page 14 of the report

SHAREHOLDERS

Why we engage

• To provide updates and insights into business performance

• To answer questions raised by shareholders

• To better understand shareholders’ needs and requirements

How we engage

• Investor roadshows

• Investor webinars and presentations

• Regulatory and other news updates

• The Company AGM

• Specific one-on-one meetings with larger investors Outcomes of engagement

• A clear explanation of the Company’s strategy and objectives

• High level of institutional shareholder support

• Equity capital raise in H1 2023 to enable the Company to carry on trading and demonstrate the quality and value of its product to the market.

The Directors consider this the best way to satisfy the long-term interests of shareholders

There having a right laugh, I wonder if they actually ever read what they write .............................

LOTM

Oh my that could throw a spanner in the works !

Could open up a lot of unknowns ..............

Will they still get the Columbus field or not ?

Will they still get the other $22.5M in 2025 ?

& what about the $48M liability that was covered, but CNE let Waldorf use that cash in the meantime!

All of that on top of the Senegal end of June deadline ...............

LOTM

Maria Teresa Hernandez

https://www.linkedin.com/posts/mirriad_deichampion-diversemedia-topwomeninmedia-activity-7203780488384188416-evDN

I think given her importance to the company she should be on the board of directors.

LOTM

Hi 2phevs,

Well the cash figures are certainly better than I was expecting to see - although they are close to my original sort of estimates.

Why was I expecting a lower cash figures ? One they wouldn't publish the end of March cash figure before now, dealing with multiple Content providers all at once & trying to integrate computer systems & buildout Programmatic was likely to mean higher IT costs in the short term (& that would have made total sense & I'd be fine with it / agree with it).

The wording of the placing document mad it sound like they were going to run out of cash by end of August at the very latest & yet if you go through the numbers provided the £3.9M at the end of April would actually have lasted them until Mid November at the £0.6M per month burn rate.

I know I'm dyslexic, but I have to say the report seems poorly written to me once again. There jumping from one thing to another from past to present !!! (more on that in another post when I have the time).

They talk of the £3M "qualified" sales pipeline & have added a bit of a disclaimer/explainer this time round, but they don't say whether that £3M figure is from the 1st of Jan onwards, or 1st of April onwards, (or even 1st of May onwards) which just confuses things. Its plausible that sales were just £0.4M in Q1 (because they again failed to provide us with that actual figure) or it could be that the visible pipeline has increased in the last month by another £0.4M from the £2.6M they referred to previously at the 31st of March. Or in fact the increase in the pipeline is even higher than that once you take out of the £2.6M figure sales that are now complete (either in April or both April/May) & are now actual revenue !

LOTM

Cash Balance end of December £6.1M

Cash Balance end of March £4.5M (£1.6M spend over the 3 month's so just over £0.5M per month)

Cash Balance end of April £3.9M (£0.6M month on month)

So cash spend has been on budget since July last year, even with all the extra system integrations that are taking place.

Just need to wait & see if they get Programmatic active in the next 4 weeks or not.

LOTM

WHAT OUR PARTNERS SAY

"By leveraging Mirriad's in content platform, we unlocked new music video inventory we’d otherwise not have access to. Through virtual signage, we were able to drive campaign awareness and connect authentically with diverse music fans."

Nobles Crawford

AVP of Consumer Activation, Luxury Beauty at L'Oreal

"The fragmented media landscape makes it challenging for brands to break through the environment to seamlessly connect with audiences. In-content advertising, like Mirriad's AI technology, has provided an avenue for us to engage with consumers in an authentic and innovative way that drives optimal results."

Mia Phillips

Senior Manager of Advertising & Media at Lexus

“Mirriad's multicultural marketplace for in-content advertising is at the cutting edge of advertising and inclusion, bringing innovation and new revenue streams to minority-focused content. In partnership with Mirriad, we’ve successfully created in-content campaigns for brands like Charmin. By placing our brand in-content that is relevant and resonant to consumer groups we want to reach, our campaigns deliver great results and great viewer experiences.”

Malcolm Henderson

Senior Brand Manager at Procter & Gamble

https://www.mirriad.com/faqs

LOTM

Well Hyundai are the one featured in the Canela stuff you posted earlier 2phevs !

Was there not one of the Korean ones mentioned previously as well ?

Its great to see so many auto names associated with Mirriad, but the key thing at the moment is monetisation

LOTM

Just bought another 100,000 for the record.

My next target when circumstances allow is 2 Million

LOTM

Hi 2phevs,

Automotive is certainly one of the sectors we know VPP works really well for & gives the advertiser super results & there are at least 4 brands using it when you include VW & Opel both in Germany.

As you pointed out before Hyundai have already admitted to making a big mistake by not using VPP sooner & are trying to play catch-up with competitors.

The issue seems to be monetising it at scale & I guess that all comes back to Programmatic working fully end to end, which seems to be the critical path event that we are waiting on. Until that is complete we are in a holding pattern with limited deployment.

With the current company news blackout, we are in the dark as to when that might finally be completed, which is extremely frustrating to say the least.

LOTM

Hi Bentley43,

If you do some research you'll find that when Mirriad 1st floated on AIM it was valued at around £65M or 5 times its current value. So it wasn't tiny back then, but clearly its business model back then didn't work & has evolved to now be targeted at the Ad's market through VPP & Programmatic.

LOTM

Hi coxy12,

Everything is relative, it depends on how long you've been a shareholder, whether you've averaged down as time has gone by & what your average price is.

Only those inside the company actually have a clue as to what the sort of current cash-burn rate is, normal shareholders don't, we're just guessing, prior to July 2023 the cash-burn rate was around £1.2M per month. From July 2023 to August 2024 they forecast a cash-burn rate of £0.7M per month. According to the 23rd Jan 2024 update - they said they were slightly ahead of there targets (although those targets were never published - so they are unseen internal ones). The 31st Dec cash balance of £6.1M would indicate that cash burn (if you include revenue coming in at the same time to lower the rate) was around a net £0.6M per month over those 6 months (1st July - 31st Dec).

The Institutions that were already on the hook & effectively locked in until a company sale happens, probably thought we're already in here for X million what's another £1.5M after all its not our money its our clients money.

As to survival, I would focus much more on what the Content providers are doing than the Institutions & ask yourself this.

If your a multi-billion or even a billion or £500M Content provider, would you be getting involved in a technology like VPP & Mirriad, plus committing valuable time & resources (system integration costs, deployment of sales & marketing teams) if you didn't see it leading to substantial ad revenue for your company ?

Of course you wouldn't,

So why have 40% of USA providers signed up, at least 2 German CTV providers & many more on the Diversified Supplier Network ........ Oh & not to mention the other 47% of USA Content providers are either negotiating to sign up or in discussions about it.

So they must see something that we (shareholders) currently can't see & that's down to the failure of the board of directors to keep shareholders properly informed & up to date with events. They have failed to take shareholders on the journey of how all the jigsaw pieces fit together etc or how Programmatic really works (end to end).

When was the last presentation (August 2023) did it really explain the business & how its changed/developed NO not at all.

LOTM

No sign of the Doc buying today that's for sure.

LOTM

Ah so they are different ....................

Maria's

"CANNES season is upon us! If you’re attending the Festival of Creativity June 17-21, let’s connect! Along with my CEO, Stephan Beringer, I'd love to catch you up on all the ways Virtual Product Placement is redefining how advertisers connect with audiences + the latest on our expansive content slate, programmatic rollout, and the continued growth of our diverse-owned supplier marketplace. "

Company one

Mirriad is attending this year’s Cannes Lions International Festival of Creativity to showcase how Virtual Product Placement (VPP) delivers exceptional value to everyone in the media ecosystem.

For advertisers and agencies planning H2 campaigns, book a demo to supercharge your media mix. For streaming platforms ready to join our programmatic marketplace and our premium content slate, learn how you can integrate with us.

Mirriad’s Diverse Supplier Marketplace also provides access to 40+ diverse-owned or targeted content suppliers, enabling brands to effectively scale their diverse media commitments.

Virtual product placement (VPP) makes real-time impact on audiences:

• 20-45% Audience Lift

• Up to 35% Increase in Sales

• Up to 94% Ad Awareness

Join us in Cannes and learn how Mirriad can help accelerate your growth.

LOTM

Hi 2phevs,

Thanks for the replies.

Sadly I can't get to see Maria's actual LinkedIn post, is it worded any differently than the one on the Mirriad LinkedIn page which I can view ? (which in itself would be interesting)

For the record I just bought another 175,000 shares to round my holding up to 1.5M now

LOTM

Hi 2phevs,

The studies clearly show the technology works & it enhances the results for advertisers. The issue is monetising it.

The answer lies within "Programmatic" but that's another subject the company is very reluctant to discuss or educate its shareholders on.

They use words like "Manual" V1.0 V2.0 & V3.0 without in depth explanations as to what they fully mean.

You might be one of the very few people who understand it completely (possibly MrTaylor194, if they are still reading this BB).

They have totally confused Shareholders as to how far long the journey they actually are. My current understanding is that that they have achieved Programmatic on the Content provider side of the equation & thus would have been far better off calling the current position as either (V2A or V2.5 )or V3.0 on the way to V4.0 which is FULL END to END Programmatic.

Until they have the Sales (Advertiser) side of Programmatic fully working revenue is going to be limited because of the amount of human intervention that's currently needed in the process of selling the ad time/slots. Which is the current Achilles heel to generating the revenue required.

Allenby Capital in the research note seem to think they have achieved end to end programmatic (although that might just be in beta testing or such like) which would certainly lower the risk profile from the annual report as end to end working was marked out as high risk to the business's success.

There also due to achieve 1st revenue from Programmatic (I presume that means end to end - but with Mirriad it could easily be some sort of hybrid outcome [fudge] to make it look better than the true position there currently at) before the end of June which is basically just 4 & a half weeks away.

LOTM

Hi GMHK & joseywales,

You simply can't think of SYNT in old money & then convert it to new because of the 6 for 1 placing. That sort of dilution completely changes all the dynamics of it.

I've given up making any forecasts on what the SYNT share price will do (for now at least) because I got them totally wrong previously.

I've yet to see any real improvement in the actual numbers the business has produced & yet the share price during that time has a range of like £1.20 - £3.30 which makes no sense to me. Both driven by sentiment I guess (both positive & negative).

Good Luck

LOTM