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Hi LovableTB,
You've said a lot of what you've just written before. I totally get the concerns.
However you didn't answer my question.
So I'll repeat, its not a trick question I genuinely want to know your thoughts on it .....
"Why did 40% of USA content providers sign up for it & another 47% are in active discussions to do so ?
If its not going to generate meaningful revenue for these extremely large companies then why on earth would they sign up & dedicate teams of there own staff to sales & marketing for it? "
Thanks
LOTM
LovableTB,
So with your total negativity towards Programmatic & the company's product can you please explain, why 40% of USA content providers have signed up for it & another 47% are in active discussions to do so ?
If its not going to generate meaningful revenue for these extremely large companies then why on earth would they sign up & dedicate teams of there own staff to sales & marketing for it?
LOTM
Hi LovableTB,
Cash burn would appear to be pretty much as expected ( we won't know for sure until we get the March 31st & June 30th figures).
We have no idea what revenue was like in Q1, or how Q2 is actually doing, but I'm guessing neither are great & that is down to us still being in Manual mode.
Everything really depends on getting Programmatic up & working & sadly we have no idea if that is on schedule or not.
LOTM
I've just been going through the fund raising document again, for information that will be going into various emails.
I hadn't read until this morning that in the document it actually states that the company has sufficient cash to last it until the end of August.
"In the event that the Resolutions are not passed and the Fundraising does not complete in full, and if such an alternative source of funding cannot be found, the Company expects that it would only have sufficient cash to fund its activities until the end of August 2024 and it will seek to conduct an orderly wind down of the affairs of the Company substantially before that time. "
The above just adds to the view that the timing & pricing of this placement is all wrong & that the company should have waited until after Upfronts24 had taken place.
LOTM
This is Esra's page
https://www.linkedin.com/in/esrabacher?trk=public_post_comment_actor-name
She is the one highlighting Mirriad to other's for this question -
"Who are some of the most exciting early stage (pre exit / public) CTV AdTech companies that you have come across recently? "
Thus putting it on there radar ...........
The 2nd recommendation in her profile (long 1st one was on the previous post)
“Esra is fantastic & one of the slickest operators I've come across in the programmatic world. Her collaborative & strategic approach meant she really understood how to effectively work with media owners whilst generating maximum value for her clients. ”
6 people have recommended Esra
I'm guessing from all that is said, that she came across Mirriad through the Multicultural Marketplace & her work & found the product offering compelling.
So that would say that she is happy to endorses the product, the question is then down to Programmatic & margins on sales Mirriad wise.
LOTM
Axel Jonuschies
“I have had the privilege of working closely with Esra for over a decade at GroupM, and I am delighted to outline some of her exceptional contributions during her tenure at GroupM. Esra is an outstanding team leader, demonstrating an unparalleled ability to mobilize and inspire her team. Her leadership style is marked by a rare combination of strategic vision and hands-on involvement, fostering an environment where everyone feels empowered and motivated to deliver their best. She consistently leads by example, setting the bar high for professionalism, dedication, and collaborative spirit. Esra is not only a relentless worker but also someone who sets ambitious goals and works tirelessly to achieve them. Her dedication to excellence is truly commendable, and she has a remarkable knack for turning challenges into opportunities. Under her leadership, the Digital Investment team at GroupM US achieved unprecedented success, a testament to her commitment to driving results. She has an innate ability to cultivate positive and productive relationships with stakeholders from diverse backgrounds. Whether engaging with local partners or collaborating on a global scale, her communication style is clear, concise, and always aligns with the overarching goals of the organization. Esra possesses a unique talent for bridging cultural gaps, fostering an inclusive environment, and ensuring that the interests of all stakeholders are considered and addressed. In the realm of digital investments, programmatic advertising, and CTV, Esra's expertise is second to none. Her profound knowledge in these areas has been instrumental in shaping and executing innovative strategies that have elevated GroupM's position in the market. Esra played a pivotal role in driving programmatic Supply Path Optimization (SPO) efforts, showcasing her keen understanding of the evolving landscape and her ability to navigate complexities with finesse. One of Esra's standout achievements is the successful launch of the GroupM Premium Marketplace in the US market. Her vision for a prioritized, scalable access to premium inventory in the most efficient and transparent way has not only benefited GroupM but has also set a benchmark for excellence in the industry. Esra's impact on our organization has been profound, and her legacy of success continues to resonate. I wholeheartedly recommend Esra for any leadership role that demands strategic acumen, dedication, and a profound understanding of digital investments. Her combination of soft skills and technical expertise makes her an invaluable asset to any team or organization fortunate enough to have her on board. On a personal note, I genuinely look forward to the prospect of working closely with you Esra again!”
Well you've got a name now Zack Rosenburg, so I'll let you go do your things with it, clearly it has potential in our space given what AT said in that video you found.
Sadly I need to concentrate on other things I've a lot to achieve this weekend ! :(
Catch you all later.
LOTM
Https://www.alleywatch.com/2023/12/qortex-video-analytics-platform-adtech-highest-impact-placement-zack-rosenberg/
Seem to have had far less trouble raising cash than Mirriad BOD have achieved
LOTM
LovableTB,
You're sounding like a broken record now, your going over the same stuff from before again & again. I think 2phevs gets your concerns.
If you've fresh stuff that concerns you, I'm happy to read it & research it & form a view on it.
All of that is not moving us forward & we need to do that to eventually make money from this.
I doubt 2phevs is going to sell out if it gets to 2p, I'm certainly not.
500,000 Shares is actually 0.1% of the company currently ie 1/1000th of it is your, not to be sneezed at.
I'm already working on various plans & I'll probably need a favour from you early next week!
LOTM
I know you were looking for a competitor to Mirriad LovableTB, looks like Qortex is possibly it.
So maybe you want to go & do some research on it & give us your take on it ? I haven't looked at it yet, but the name has come up twice now in 3 day. The Albert Thomson video & the linked in post from 2phevs this morning.
LOTM
Morning LovableTB & 2phevs,
Please keep it civil.
There were 3 trades that went through for 20M shares on Friday all with the same time stamp, I commented on it when the 1st one went through & then again when the other 2 went through.
LovableTB, I'm very wary when I see 3 trades that have the same timestamp to think any 1 of them actually took place. If it did occur then it was a sell for sure, but personally from past experience the chances of it actually having taken place is 25% We'll soon find out via a declaration in the next 3 days if it did happen because it will have to be declared.
LOTM
It cut the last bit short it should have read
Nic Hellyer, CFO at Mirriad, said: "Our operating profile is changing fast. Revenue generated in 2023 reflected the fact that the business was still operating in 'manual' mode, with less than 10% of the key US market. With the majority of that market now under contract or in serious discussions, a firmer starting pipeline for revenue and multiple programmatic integrations underway to change the way inventory is sold, we are focused on delivering a substantial improvement in performance in the current year."
LOTM
2phevs,
I would take that with a pinch of salt, they don't want the Nomad looking into all that has been going on.
There is no trust with shareholders, that went out the door with this ridiculous fund raising.& the comments there happy to make else where but not in an RNS.
I would strongly encourage you to contact the Nomad & everyone else to do the for that matter. The August Presentation & what they have said & portrayed simply don't add up.
Not to mentions posts about profitability & blast off rockets.
From24 Jan Statement
"Programmatic testing continuing with five partners and is on-track to contribute to revenue starting in H1 2024."
"these new Agreements mean the 'Mirriad-inside' strategy of integrating in-content advertising as a new standard advertising format across the entire TV and video media ecosystem is now gaining significant traction, ahead of plan."
By mid-2023, market building in the US had resulted in a total Mirriad roster of over 60 partners, representing around 8% of the US TV advertising market. This increased in Q4 2023, with the addition of a further 17% share via Agreements with two significant new partners. 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. This represents a phase-shift in the scale of new partners - Mirriad is now signing US 'majors' and 'super-majors'.
Accessing this significant level of market share with partners who distribute premium content to large audiences across their linear channels and streaming platforms signifies an important moment in scaling the new advertising format that Mirriad offers. The Company is also at various stages of programmatic integration with five key media players in the US market. Activation with the first of these partners is expected to occur in H1 2024.
2023 trading update
Total revenue for FY 2023 is expected to be approximately £1.8m, representing a 31% increase on FY 2022 (on a like-for-like basis excluding revenue from China). Approximately £1.4m of this was generated from the all-important US market. The Company closed the year with a cash balance of £6.1 million, with outturn average monthly cash burn in the second half slightly improved over management expectations with efficiency improvements achieved ahead of plan.
Nic Hellyer, CFO at Mirriad, said: "Our operating profile is changing fast. Revenue generated in 2023 reflected the fact that the business was still operating in 'manual' mode, with less than 10% of the key US market. With the majority of that market now under contract or in serious discussions, a firmer starting pipeline for revenue and multiple programmatic integrations.
LOTM
I hope other's follow suit & get in touch with the company & the nomad to make it very clear to both of that this is totally unacceptable. They will soon realise the mistake they've made.
You could virtually copy 2phevs post & just adjust it slightly for your own situation & any additional questions you might have.
I can tell you for sure that I've gone much further than that & I've reached out much further than that as well.
LOTM
2phevs,
No worries on that front.
I would suggest you contact the nomad as well & make them aware of your concerns, I certainly have. Especially around what has been said through other channels & not through RNS disclosers.
I've also pressed the Nomad on there belief that the terms were fair & reasonable to existing shareholders.
LOTM
2phevs,
I hope you've taken the time to make some phone calls & send of a few emails to let them know just how unimpressed you are with this fiasco.
I certainly have & waiting on some feedback before deciding on the next moves.
LOTM
LovableTB,
How do they get to talking to 87% of the USA market as per the RNS without NBCU (22%) or Amazon for that matter ?
If there solution was the same or better than Mirriad's you wouldn't be in talks/negotiations with them would you!
LOTM
LOTM