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Sorry I meant to post that message last night but got distracted with to many other things :(
Hi GMHK,
It is what it is, a cash raise was always there in plain site.
The price & timing are appalling & make no sense neither does issuing another near 100M to extend it.
I've had a busy morning lots of phone calls & I'm not letting it slide, they've made a big mistake, watch this space as they say.
SYNT is treating you well at the moment :)
LOTM
I'm truly Sorry to everyone who has bought in recently, following me highlighting the company & asking people to take a look at it.
Yes I did know a fund raise was a possibility, but I didn't see it coming so soon & its slightly larger than the £5M max requirement that I thought they might needed.
The issue price is a disgrace quiet frankly, if that's the best the company can do with the pipeline of opportunities it has & all the hints its been giving through informal channels. The CEO has a lot of explaining to do & his position is in Jeopardy for sure after this, if not untenable.
Again my sincere apologies to everyone.
LOTM
Mozax,
I don't think there was an insto presentation, otherwise they would have been obliged to make it available for retail investors to view as well (especially for a cash raise)
The offer isn't appeasing me, I can tell you that. I've already had some interesting conversations this morning.
LOTM
LovableTB,
Of course they are in a position to ask for cash up front, ($5M isn't a lot to ask, but makes a big difference to Mirriad). Didn't you view the video from the other day that 2phevs posted about the car company that missed the boat on virtual product placement & is now working out how to play catch-up, the same logic applies to Content Providers (as I said it would a couple of weeks ago). Why do you think they are all speaking to Mirriad 87%of the market !
Oh something doesn't sit right 100% agree on that.
I'm trying to get to the bottom of it right now, so that everyone is as informed as possible.
You have no comprehension yet of what I've been doing all this morning.
LOTM
LovableTB,
They could & should have got cash advances, when they signed these deals or any recent ones. $5M upfront which is repaid from what would have been Mirriad's share of revenue. Pocket change to the Content providers.
If they're devoting lots of staff to the deal lending $5M to make sure its delivered was not a big ask in any way.
CabP,
Mirriad are meant to get 25% of the revenue generated with 75% going to the content provider (according to the Aug23 presentation see slides 7 & 16)
LOTM
Hi Stampee1
No I'm not happy, I'm livid, but we should still be able to be civil here. Otherwise we won't get anywhere
You clearly haven't read my other posts, otherwise you'd know what I doing at the moment.
LOTM
LovableTB,
As I said when I first came here it reminded me of the exact same situation from an app developer way back around 2015.
They took much longer than expected to integrate there system with the other company's & couldn't get the scale on the other side.
Mirriad is different in that it already has the scale on the other side. The issue is integration & moving from Manual to Programmatic.
I'm not surprised the numbers are still low, the Manual mode says they will be, Programmatic will multiple them effectively by 10 according to what they've said. That's why its so important to find out if its on schedule with that 1st customer & earning revenue. Once achieved then you know it can be achieved for the others :)
Its then a case of knowing when the 4 others will go live. Hopefully Q3. which would maybe give us 8% live on Programmatic
The bigger "major's" I think are further back in the development stage, I don't think we'll see any of them live until Q4 9hopefully)
LOTM
LovableTB
He gets a couple of million shares for virtually nothing in July, but the options are at 3p he has like 18M at that price (off the top of my head without looking it up) & others at high prices than that.
LOTM
LovableTB,
They didn't have 40% of the USA Content providers signed up last time round maybe 6% back then.
They could soon have 87% of the USA market signed up, in other words universally used across the industry in the USA effectively a standard tool for Advertisers to use.
LOTM
This lot have absolutely no shame oversubscribed & they took on all the extra they could at that pathetic price instead of actually doing the right thing & saying NO.
Clearly there won't be any potential consequences because both Rathbones & M&G have filled there boots with the cheap stock.
Disgraceful to say the least.
LOTM
Hi 2phevs,
Next year is 12 month's long & the statement very wishy-washy around when or if it might occur!
They should be able to give guidance as to whether they expect to reach break-even on a monthly basis by the end of Q1, Q2, Q3, Q4
There is one heck of a difference in it being at end of Q1 or end of Q4.
I refer you & anyone else to the August 23 Presentation slides 7 & 16 & tell me how you get to those number's in 2026 if your only at break-even at the end of Q4 2025 ?
With 40% of the Programmatic market they were projecting $250M gross that year, 87% of USA would take you close to $600M & that's with zero coming from overseas & you can only break-even on a monthly basis late Q4 !
LOTM
Morning Mozax,
The timing & price are horrendous.
I believe they had other opportunities that they could & should have looked at for funding & as for doing it right now makes no sense whatsoever.
Err no I won't be switching off I'm on the hunt for answers & actions.
LOTM
I will be making several phone calls today & if I'm not satisfied with those answers & there is not full transparency given by the company to all shareholders then there will be consequences.
I will refrain myself from saying any more on what they might be for now.
They need to come out with a comprehensive statement which includes the cash balance for 31st March & sales revenue for Q1.
How much of this "Business Pipeline" is solely for 2024.
Where Programmatic is in terms of delivery, is it going to be fully live (not trials, beta testing etc) with a client this quarter & generating revenue as advised ?
What are the projections of when it will be live with the other 4 content providers that they have been progressing with for months now.
Why they have not signed deals where they would get a cash advance upfront & it would be deducted from 1st revenue until it was re-paid to the Content providers.
Why they are still giving no guidance around reaching break even.
Why there current commentary is so different to that of the August 2023 presentation in particular slides 7 & 16
Why the deals with C4 & Sky have not been made public before now?
Why they have not revealed they are in talks with an additional 32% of USA content providers until now?
Why they haven't waited until after the Upfronts week has taken place or the Microsoft Webinar?
What monthly metrics they are going to provide investors with so that they have measurable data on the progress being made in terms of revenue being generated without it being actual sales figures (like views of adverts for the month or such like).
LOTM