RE: Fundrsising up ahead?24 Apr 2025 19:11
Hi LtCaptain,
I would refer you to the Investment case Document I wrote a few weeks back for other investors as a starting point for there research on Mirriad.
https://uk.advfn.com/cmn/fbb/thread.php3?id=42041562 its post number 4100
Its far too large a document with many links etc to post here.
To briefly answer your question.
Mirriad had ยฃ4.8M in the bank at the end of 2024, in the trading statement 6th January they said the cash burn this year was going to be ยฃ8M or ยฃ2M per quarter on zero revenue. Which gets them to the 7th August approximately.
There business plan also envisages them reaching break even on a month to month basis later this year.
German brought in around ยฃ0.4M of cash in 2024 & I had pencilled in ยฃ0.6M of cash for 2025, however both major players there have scaled up its use (VPP) with the Ad Alliance only last week saying they were now using it in "Prime Time" viewing hours, so I'd say we should now be looking at ยฃ1M+ for 2025 instead now. Its not a huge amount, but it will cover part of the ยฃ3.2M shortfall needed to see them to the end of 2025.
We know there has been VPP campaigns going on in the USA in the early months of the year, the scale of them we simply don't know. But every piece of revenue extends that 7th August date.
2 Partners are launching new VPP products this quarter Canela Media, who's product appears to have gone live last week & LatiNation/TSR (the shade room) who's launch is due ahead of "newfronts" on 7-9th May.
In otherwords things are progressing on multiple directions, some I haven't even mentioned here but are in the document etc.
They may need a small cash raise on top to see them through to break even possibly ยฃ1M in the short term, we simply don't know they refuse to keep us updated with all that it going on, its only thanks to 2phevs research that we have a good idea of what's actually happening.
We will try & answer any other questions you have once you've digested the document etc.
LOTM
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