I was looking at the presentation again last night & the following struck me ........ on page 5
" 9/10 US Entertainment majors are now working, negotiating, or testing with Mirriad "
So back in August only 1 of the top 10 wasn't at least talking to Mirriad ( be that NBCU, Fox or Disney ).
We know they are close to sealing a deal with one of them, with Fox being the most likely, but possibly NBCU. So which other one has changed there mind since August & backed off from Mirriad & why?
From the Jan update "The Company is in active negotiations with two more majors in the US representing an additional 30+% of potential market share, and there is the prospect of further notable additions in the first half of 2024."
There are now less than 75 days left in the 1st half of the year & you'd have to say none of these "notable additions" has surfaced to date. So we maybe in for a stream of announcement in the next few weeks.
GLA
LOTM
Sorry been out all day & didn't get home in enough time to buy that next 100,000 :( oh well at least I'll be around all day tomorrow :)
My post from last night got cut short :( as I obviously over filled the messages limit.
It was meant to say at the end ........
Given all of the above I can see them raising the required cash to see us to break-even & beyond in early June& at the moment I don't see the raise being any more than £5M.
Hopefully in a way that doesn't cause any dilution or allow's existing share holders to maintain there current % ownership of the company if they so wish.
LOTM
Hi LoveableLumax & Merciaman,
I have thought from very early on since my arrival (actually knowing about Mirriad) that another round of funding was going to be needed at some point this year.
This is what the figures & information they've said point to .......
On 30th June 2023, they had £9.8M in the bank & they've stated the 31st December figure is roughly £6.1M, that's a decrease of £3.7M. There new business plan initially runs until 31st Aug 2024 & during that time they have budgeted for month expenditure to be £0.7M per month or £4.2M every 6 month's.
The figures therefore show that the cash balance at 31st Dec was £0.5M higher than budget (ie £3.7M drop instead of £4.2M).
Revenue during the 1st half of 2023 was £0.574M & they have said it was roughly £1.8M for the whole year ie so £1.226M in the 2nd half.
Now there will be delays in turning that gross revenue into actual cash in the company's bank account, I've modelled it with a 2 month delay. One research report expected the net margin to be 85%, I've used a 75% figure until the year end accounts come out & we may have a better understanding of what the figure is in reality.
For now the sums are small & it doesn't make that much of a difference, going forward it will be much more important for knowing when the company will first of all be break-even on an EBITDA basis, then a EBIT basis, then breakeven financially on a month by month basis & finally making a meaningful profit.
I'm hoping we get Q1 numbers along with the annual results, to re-affirm where the cash balance is & what Q1 gross sales were. I've projected Q1 sales to be only £0.945M against £0.845M in Q4.
I got to that figure by looking at when new contracts were signed datewise etc & deciding that revenue wouldn't really ramp-up until late Nov/Dec 23. So my Jan figure is significantly less than the Dec one & roughly the same as the Nov one, then increases slowly through Feb & Mar & in actual fact it won't top the Dec number until Apr (and only just that month)to factor in the ad cycle which has much lower ad spending in Q1 each year.
The company has said it was doing slightly better than it expected in the 2nd half of 2023, however I suspect due to the number of new agreements signed & the implementation of them, that spending will be speeded up to get them to market & earning us money faster to.
So I suspect we'll have ended Q1 with a cash balance of perhaps £3.5M instead of the £4.0M the business plan would point to.
I'd say its pretty clear that adverts are appearing a lot more often in the past month than previously & therefore we should be starting to see a lot more revenue being generated for the company. This will help to slow the monthly cash burn.
There is also the Olympic & Para-Olympic games coming up in Q3, that should cause a significant increase in ad spending.
Given all of the above I can see them raising the required cash to see us to break-even & beyond
Been out all day, just in & saw the share price!
Just bought another 100,000 so that's me at 500,000 for now & I'll be adding another 100K in due course but will wait to see if its going any lower 1st of all.
Certainly brought my average price down.
Now to catch-up on events of the day.
GLA
LOTM
Hi 2phevs,
You forgot to add Opel (Astra) Germany to the list which may well translate into Vauxhall in the UK. As it was in another of the posts that were in that German LinkedIn account from last night.
Certainly seems to be the case that the car industry is totally onboard with the concept & is increasing its ad spend in this direction, hard not to when you see the results. Soon they'll all have to do it or lose significant market share to there rivals.
I went to the link within your article & found this https://www.adweek.com/adweek-wire/mirriads-diverse-supplier-marketplace-sees-exponential-growth-in-2023/ which I thought was really interesting as well regarding diversity.
LOTM
I thought the sole concentration for now was the USA & things linked to the big players networks there including Latin America.
But No Germany seems to be ticking over by the looks of it ......
https://www.linkedin.com/posts/brandplace-agentur_dassignal-brandplace-bonvoyage-activity-7180944336547676160-vbZF?trk=public_profile
Maybe EMEA revenue will be higher than I thought & perhaps back to those in the 1st half of 2023.
LOTM
2phevs,
There is now a comment at the bottom of it by James Reed !
----------------------------
If you click on James Reed & look to the right hand side, there are some names there - Robert Johnson I'm 99% sure was the guy that left the comment the other day for Stephan Beringer & to be honest I thought it was a fair question that he asked.
GLA
LOTM
Well found in the 1st place MrTaylor194 :)
Stewart Dalton hardly posts that's his first in like 10 month's & 2phevs knew about it inside 30 mins!
What a team.
--------
Did either of you see a post on one of Stephan Beringer ones on Friday from a shareholder about when was he going to get the share price up? & the next day it was gone!
I see someone has just dumped 600,000 but its only lowered the offer price to 2.205p to buy :( I was hoping for better than that, so will wait to see if it goes lower than that before I buy my next lot.
LOTM
I too think it is an absolute bargain at this price, but our view doesn't really matter only that of the market.
Pump up the volume, pump up the volume.
Get those shares moved from those that don't want to hold them to those that do.
LOTM
Donotpanic,
Personally I'd much rather see volume at 7M+ traded & lots of new longer term shareholders coming on board than the share price being up on the day.
Looks like someone just left the company as only 28 employees currently down from 29 earlier today & friday. Although they still have like 3 jobs to fill.
LOTM
Well I'd hardly call that a good asset sale.
Something that was earning them Euro 4.8M of EBITDA (so not loss making) with assets valued at Euro 56M being sold for just Euro 27.5M is a big ouch. 50 cents on the Euro is all they could get!
I hate to think what price there going to get for some of the bits they want rid of that were loss making.
LOTM
Hi gtc1507,
Not really, no way of investors being able to put a value on it (this piece of news).
Company has to do a much better PR job than its doing, Academics are often not good at explaining things in a meaningful way to investors.
The announcement headline isn't eye catching & its not caught investors imagination otherwise you'd have seen a lot more trades going through, even if they were for relatively small amounts of shares.
Company clearly needs to expand its investor base. It does that by investor engagement, which I sadly doubt we'll see.
Proactive interview & an updated Presentation, might help to start the ball rolling in that regard, because as everyone can see there is no buying interest other than from those already onboard.
LOTM
EdwardSeaton,
Sadly you are obsessed with the LSA holding & that has blinded you for a long time now.
You spoke to the board at the last AGM & got hoodwinked by them.
There salaries & bonuses are obscene for what they are doing/achieving. Yet you simply don't get that.
This latest £2M investment should have set more alarm bells ringing.
LOTM
Clearly its not otherwise the share price wouldn't now be be down on the day & people able to buy at 4p a share now.
Its going to be interesting to see any delayed trades that occurred in the 1st 30 mins or so of trading.
Clearly a lot more turnover is required to clear the stock overhang that's in the background.
Need to find some new investors.
LOTM