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Yep, once the new shares come to market 35p would mean a market cap of some £350m or 200 x revenue (not profit). Break even at some point seems a long way away given what the balance sheet will look like towards the end of the year.
Have you sold all your shares? Surely at this level it's worth holding some? Yes they will likely need to raise within 12 months (like I said 12 months ago) but surely once the ramping on LinkedIn recommences once the shares are admitted and after shocking FY23 results published they will rally above placing before falling back below in weeks or a few months after.
Stampee only a few weeks ago you posted these two nuggets -
These so called investors, whom say I'm out, lol.
Think everyone is gonna follow you, so you can buy back in cheap...ha ha ha...you do make my belly hurt...
Then -
Wow impressive , was reading some posts earlier today, someone mentioned 35p , after a lot of research, I can see 35p being reached 👏
I will have 0.05% of the enlarged share capital (500k) and as I have said to you and others many times I’ve been here for years and sent emails in for donkeys. It didn’t get me anywhere and that was when I had many more shares than the Execs. Not diluted to oblivion with fewer shares it’s pointless. I was venting to them before you even heard of mirriad!
Anyway, good luck and I’ll be interested to hear the response. I again say it’s naive you thinking they are diluting unnecessarily, they’re desperate as running out of cash before end of Aug illustrates.
I know your email well intended but I have sent similar emails before and to be honest some of your points don't stack. The new shareholders have bought into the CEO and his patter so trying to oust him won't end well especially as they have just raised. They will have tried to get funding via other means but with a turnover of £2m and burning that in less than 3 months it is not easy to get funding especially with an unweighted pipeline of not a lot.
Everything that has been said publicly, be it through the company blog, company LinkedIn account or LinkedIn accounts of Directors & senior executives in recent weeks, would indicate that the company's prospects are very good indeed & speeding up ....THEY HAVE BEEN DOING THIS FOR YEARS AS YOU WILL SEE IF YOU LOOK BACK, POTENTIAL HAS BEEN THERE FOR YEARS SO THIS ISN'T NEW
Yet here we are receiving news that the company has undertaken a massive share placing, not only has it placed those shares at a truly horrendous discount of 43% to the then share price, it has then gone ahead & placed an additional 64M shares when it didn't need to. THIS SEEMS NAIVE. LOOK AT THE CASH BURN AND LOOK AT THE PIPELINE, THEY NEED THE ADDITIONAL SHARES AS THEY WILL NEED TO RAISE AGAIN IN 12 MONTHS LIKELY AROUND THIS TIME NEXT YEAR
Yeah great thinking to inflate your cash burn in order to give away shares for mates rates? No that was the only price they could get the raise away and they are not lying when they say without it they will run out of cash before end of August. You're making ludicrous assumptions which is understandable when you have 7m shares. You need to start reading RNSs more closely and not hyping immaterial news elsewhere. Even with a burn of just £700k they will be back with the begging bowl within 12 months. Anyway, you should have listened to me and taken some off the table, I told you a raise was coming but you wouldn't listen. Anyway, you can now buy below 1.25p. If the pipeline was decent I'd be buying and believe me this will be every iffy opportunity they have.
Of course I know the difference between gross and net burn, as do the auditors!
Hilarious, you didn't even work those figures out yourself. You shouldn't be investing.
Having been on a board (not as a FD/CFO!) at each board meeting the FD will run through management accounts that will have a where we are against budget and projected. The auditors will also see these and they will have worked out how long the cash would last which was not beyond August. They will take into account any monies due in so R&D credits and campaigns booked. Funny how you're now using the terms I put to you on me, disingenuous and trying to belittle more. Are you related to Trump??! He's also been bankrupt many times and a clown x
£6.1m cash Dec 31 and won't survive beyond August.
You have 7m shares and you don't even look at their cash burn which is in recent RNSs? All you do is post immaterial news from LinkedIn and other sources rather than material info in regulated RNSs. You are a lifestyle CEO's dream.
Their cash burn is anywhere between £762,500 a month if they had cash to the last day in August or nearer £870,000 a month if first day in August. Likely somewhere in the middle.
I said nearly £800k a month. It’s easy it’s within their recent regulated RNSs. Cash at year end and they said they would run out of money before end of August if raise wasn’t agreed.
Mirriad could have 100% access and they still would do feck all, the consistent increase in supply and demand side has not resulted in higher revenues. Competition a higher according to their annual report and I suspect we will see more platforms launched soon. Sure some have had a good look at mrriads
This it the best. Implying the giant that is Amazon can’t do this -
After reading the published report it can only be done on a flat surface and it can't be put on a moving taxi
Entitled to be optimistic? One only has to look at last 4 years of RNSs as well as LinkedIn posts to mean all the partners mean fexk all revenue wise. Still burning nearly £800k a month FFS. Always good to be an optimist as long as it isn’t expensive.
For the final time the paper was written by students and they critiqued a platform they developed. It if of course rudimentary. If you believe that Amazon, Disney or whoever can’t put images onto moving images or those that aren’t flat you really are lost. The early days of CGI could do this!!!!
After reading the published report it can only be done on a flat surface and it can't be put on a moving taxi
There are clear differences between us. You over hype, in a realist. I understand AIM, accounts so cash burn, going concern etc which you clearly don’t. More importantly when you were encouraging newbies to buy at 2p+ I was saying to wait as a raise before June 30 likely. I underhand you’re understand and need to hype but you look desperate as I would be with 7m shares. I have 500k and know a raise will come within 12 months given cash burn and awful pipeline.
2phevs you cannot even admit when you’re wrong, How insecure must you be. I suspect you didn’t understand the context of the paper so did think it was a critique of Amazon’s VPP rather than the students novel version. You just can’t say ah I got that wrong.
Also I worked in IR and on many pitches and the rule of thumb in most industries to expect a 1 in 3 conversion. That’s for pitches not unweighted. Where on earth have you read 1 in 3 for unweighted or is this more BS?
MPD that tells me it's still under development so 2phevs could be right in that they have had trouble getting to where they want it so might work with MIRI. If so it's odd Amazon don't just buy us as peanuts to them. Right am off to the gym.
2phevs I don't belittle you I merely point out some of the nonsense you post. You belittled me when warned of a raise a few weeks ago. You either didn't know what an unweighted pipe was or you were again lying. Same re this paper. FYI Amazon employs over 10,0000 interns.
2phevs I don't belittle you I merely point out some of the nonsense you post. You belittled me when
Maybe that's right but sort your dodgy posts out. Remember you and others hyping BS likely has put a fair few in the red. Ether you didn't understand the paper you posted earlier so thought it was a critique of Amazon's VPP or you knew it wasn't but lied regardless. Either way your posts always need to be taken with a large pinch of salt.
If mirriad has a moat due to IP it will surely succeed but given the space will be massive I'm sure larger players will navigate a way around it. We'll see.
So now you're admitting your thread disingenuous, shock! I'll leave you to continue pumping but please try and cut out the lies. Yes you're massively underwater but stick to LinkedIn nonsense and ignore my warnings on raises, cash burn, pipeline putting break even out to like;ly end of next year.