Member Info for LOTM-13

TheTradingShack, was that delayed buy timed at 14:41:40 ?

If so if you look at the pattern, the buyer seems to be buying every 30 mins (sometimes 20 mins) with like 2 purchases & backs off unless a sale went through & gobbles them up & then sits back!

LOTM

I wouldn't be surprised if its Dr Cooley increasing his holding ......... find out soon enough I guess!

TheTradingShack, you tried to private message me but I don't have access to LSE so no idea what you said, if you want to PM me you can do so on ADVFN.

LOTM-13

Well that's me finally back in the country & as of now the company isn't in administration yet.

However today's corporate update sadly gave investors very little information to go on.

Its quite clear the directors have totally botched this since the turn of the year.

They should not have been speaking to only 1 party during that time & the events of the last few days shows that there clearly was/is interest from other parties regarding the company even at the 11th hour & 55 mins. They should have been made to disclose they were in talks months ago & put the company in a "strategic review" like THRU to explore the options available to them.

The lack of detail in the 2 updates so far is astounding to put it mildly.

What stage has the "Programmatic Solution" got to ?

How much more funding does the company need, given that according to the publicly available information out there it had £4.8M at 31st Dec & had an annual cash-burn rate of £8M (with zero revenue). So it would need on that basis £3.2M to see it through to the end of 2025, less expected revenue for 2025.

What were the internal revenue projection for 2025 ? because the 1st May update only had them running slightly below expectations for the year.

They were also meant to reach break-even on a month to month basis at some point during 2025, so when are they projecting that to happen ?

Does the business model actually work or not? well I guess we'll never get to find out the answer to that question until the "Programmatic Solution" goes fully live!

What are all Mirriad's partners making of this Group Black, Ad Alliance & TDMA for example

LOTM

Remember he signed a 3 year extension to the Ad Alliance deal just 1 month ago.

The Ad Alliance were now going to be doing PRIME TIME VPP in GERMANY, not the low user programmes, but PRIME TIME viewing hours, which have the largest amount of viewer's & the highest Ad$ per eyeball rates !!!

Anyway away on my travels for a week now.

LOTM

The CEO hit the Mirriad Self Destruction Button yesterday 1st May.

If he'd have had any thoughts about saving the company (in its current form or at all) then he would have ensured during the last 3 months that the company had enough funds available to it to last another 3 weeks before it had to make yesterday's announcement & still enter administration cleanly if needed.

That would have covered "Newfronts" & "Upfronts" the 2 biggest events of the year in Mirriad's world. So that any content provider that were going to promote VPP as part of there offering to the Multinational Brands at those events would have been able to do so & Mirriad could have seen if any significant deals were likely to be coming its way, before deciding on the next steps.

Instead by pressing the self Destruct button yesterday, none of the content providers are going to be mentioning VPP in there pitches to the Multinational Brands now & looking foolish are they ?

The CEO career & luxury lifestyle will now be over & the repercussions of it are only just about to start, he's going to be answering awkward questions for years to come, along with several others ......

LOTM

4kandles,

Oh they've been very clear in saying 1 week or admin.

Everything else is totally contradictory in explaining it.

If you start the year with £4.8M in the bank & your cash burn without any revenue whatsoever is £8M for the year you need to find at least £3.2M to see you to the end of 2025.

That has to be in your business plan at the start of 2025, so if your not looking for funding at that moment in time, then your business plan or forecasts for the year, need to show how your going to cover that shortfall and get yourself to the end of the year, be it through equity fund raising, debt/borrowings or actual revenue.

So to then come out & say that Q1 revenue was only slightly below where expected at £88,000, means in that sense they were pretty much on track with there start of the year business plan/forecasts.

Therefore they didn't end 2024 saying our business plan is to get to end of April 2025 & we''ll get taken over at that point or go bust was it ?

Because if that was the case then that should have been flagged up in the 6th Jan trading announcement which they didn't do (fund raise required now after the 3 revenue warning in quick succession), they kind of indicated that they hoped to muddle there way through to a large extent & didn't mention requiring funding in it.

They were also meant to reach breakeven on a month to month basis in 2025, have they at anytime said that wasn't going to be the case in the 1st 4 month's of 2025 ? NO

So many details simply don't add, if you want to ignore them that's up to you, but I will be pursuing them that's for sure.

LOTM

Laura2022,

M&G totally reneged on there corporate responsibilities, the fund manager or managers failed to ensure corporate governance was being adhered to by Mirriad, even although it was brought to there attention numerous times. Them selling out is just that fund manager or managers trying cover there backside, but that's not going to work, there up to there neck in all of this.

IP Group are not much better placed in all of this mess than M&G, but they at least had conversations with Mirriad (or so I'm led to believe), will have to find out in due course if that was the case or not.

As for speaking to them the CEO & I clashed within the first 10 seconds, the NOMAD won't return my calls & have already been warned last year that there would be serious consequences further down the line for Allenby Capital.

I would be classified as the thorn-in-their-side from day one

LOTM

Laura2022,

Yes M&G have sold out for sure.

Rathbones holding is made up of wealthy clients holdings, so they would individually decide what to do or not do.

H&L will be PI holders also, Arbuthnot Latham possibly the same.

Who knows what IP Group has done with there holding.

LOTM

Hi Laura2022,

I'm away for the next week, so won't be doing anything, maybe by the time I'm back, they'll actually be some detailed information to actually go on.

Whether that be administration or something else, who knows, but at the moment we are very short of true factual information. That RNS leaves many important unanswered questions.

LOTM

Hi Laura2022,

And someone sold 2.5% of the company straight after those 4 buy's ....

Yes on paper, I'm down a 6 figure sum at this moment in time.

LOTM

Over 2.5% of the company bought by someone in just 4 trades in just over 2 mins (presuming it is the same person or entity doing it).

LOTM

You have to ask yourself, why Mirriad, didn't place itself in a strategic review on 7th January just like THRU has done.

That way they could have at least given any other interested parties the chance to look at the books & see how far forward there Programmatic Solution really was.

Instead they buried there heads in the sand talking to only one party - how stupid was that.

What is completely laughable is that £88,000 was only "slightly below the Mirriad Directors' ("Directors") expectations"

So if that was the directors expectations for the start of the year & they have never changed there guidance that the company would reach break-even on a month to month basis later in 2025. Where in these expectations/projections of there's is this massive increase in revenue meant to happen?

There are simply so many unanswered questions, its just unbelievable.

LOTM

You have to ask yourself, why Mirriad, didn't place itself in a strategic review on 7th January just like THRU has done.

That way they could have at least given any other interested parties the chance to look at the books & see how far forward there Programmatic Solution really was.

What is completely laughable is that £88,000 was only "slightly below the Mirriad Directors' ("Directors") expectations"

So if that was the directors expectations for the start of the year & they have never changed there guidance that the company would reach break-even on a month to month basis later in 2025. Where in these expectations/projections of there's is this massive increase in revenue meant to happen?

There are simply so many unanswered questions, its just unbelieveable.

LOTM

Instead they buried there heads in the sand talking to only one party - how stupid was that.

If they were in advanced talks for 4 months, that means they were already in talks when they produced the 7th January update, yet gave no indication that they were even in early discussions with anyone at that point.

What terms were offered (ie put on the table) if any ?

Who are all these so called creditors? given there are no loans & the company is debt free.

Yes there will be staff redundancy costs to be factored in.

Maybe it was BENlabs ..... or maybe Rembrand

As for the Multinationals demanding VPP from the content providers well £88,000 say differently doesn't it. They simply stretched the truth to beyond its limits.

As for Programmatic, well where it it actually get to? did they actually finish it or is was that just another pack of lies from them.

LOTM

Advanced discussions for 4 month's & there NOMAD didn't make them inform the market accordingly.

I wonder what GROUP BLACK & the Ad Alliance are thinking right now having just signed up..........

CYNOPSIS are going to look a bit foolish after there article last week.

So who is this mystery 3rd party & why did they walk away now ?

Looks like the board just hit the panic button as soon as that happened.

They and Allenby Capital have a great deal to answer for.

LOTM

Still in shock to be honest, GM & WBD announcement from 7th Jan, plus all the stuff in Germany, all those other new clips we saw at the end of Feb & that generated just £88,000 of revenue.

P&G ispots campaign, the minimum spend figures in the Growthfronts document for ispot $500,000.

SB very upbeat comments about VPP in the heart of AI advertising in the CYNOPSIS response.

There has been a massive cover-up going on here.

Either they've lied about there gross margin for a long time now, or the business model simply doesn't work, we don't even know if they've got Programmatic working yet or not.

A total shambles

LOTM

Morning All,

Only just read the news!

Was not expecting things to be anywhere near as bad as this, this is way worse than my worst case scenario, £80,000 for all the VPP's they did in Q1 is just pathetic to say the least

Mirriad has totally misled investors that's for sure.

LOTM

TheTradingShack,

The big concern is no RNS from Janus yet, or any other seller for that matter & the worry is that there is now a 5th seller ! hope I'm wrong with that thought.

Dr Cooley was very prompt at CPX (when I used to watch it) at getting his holding announcement done & released sometimes on the very same day as he was buying them. So if he is buying expect to see prompt notices.

LOTM

Hi Troajan,

Not seen you at Mirriad during the past couple of rallies, is it still on your watch list ?

If so then keep a close eye on it in the coming days.

CYNOPSIS posted this last week

https://www.cynopsis.com/cyncity/ai-and-ad-insertion-how-machine-learning-is-changing-product-placement-and-brand-integration/

Then the CEO eventually wrote this on his Linkedin account

https://www.linkedin.com/posts/stephan-beringer_ai-and-ad-insertion-how-machine-learning-activity-7321241931584274432-njid

"According to AI-powered product placement firm Mirriad, some of the key benefits in implementing VPP are seamless integration into existing content, making advertiser access fast, scalable and flexible. It allows content creators the freedom to create a narrative, and blend intuitive and non-disruptive advertisements into their story. We see Mirriad’s work on Prime Video and ITV."

Yes that is the PRIME Video .....

Today James Grant the GM of Universal Ads thought it important enough to be in Miami in person & be a fellow panelist at this Group Black event. Group Black became a Mirriad partner a month ago & Universal Ad's covers about 85% of TV content providers!

So watch that space

LOTM

For those not sure of the potential importance of this news....

So James Grant the GM of Universal Ads thought it important enough to be there in person & be a fellow panelist at this Group Black event.

Group Black has over 250 content providers in its marketplace & is now a Mirriad partner. A lot of Group Black content goes on NBCU's Peac0ck platform !

I'm sure 2phevs would be better at explaining all the connections & tentacles of this than I can......

I told you this was going to be a big 3 weeks for Mirriad

LOTM