Member Info for LovableLumax

Yeah creep James as I assumed mirriad would have made some progress and the share price would be higher. The fact they had a large (you called it mates rates) discounted raise at 1.25p and it's not far from 1/10th of that of course the next raise price wil be awful and even worse than I predicted. A little while ago I suggested 6bn shares at 0.1p but I think it'll be worse. The broker thinks £4m loss next year which most wll be in H1 and going into next year with around £5m cash a raise will be worked on soon. It will be a lot of cheap shares if they are able to get one away

You'd think the bottom has been hit for the time being but the thing is the market knows a raise will be needed early next year and if they get one away they will need several billion shares. Unless there is a miracle there will be even cheaper shares in the not too distant.

I suspect like last year mirriad will be sounding out buyers before the begging bowl comes out

2phevs you need to do some more reading on Avacta you creep! Funny as. Get back to LinkedIn you deviant! You look like you're on the wrong kind of register, if that why many have blocked you?

What are you on about creepy James? Having cash to Q2 2026 is a little different to cash to Q2 2025. Also remember you numpty you didn’t even know an auditor needs 12 months cash from accounts being signed off (in Mirriad’s case from June).

I mean not long ago you thoughts break even near. Their own broker has a £4m loss for next year and with the lack of visibility on contracts they will be raising money in the not too distant. If my speaking the trust is poison to you just sit in blissful ignorance clapping.

You pumped this and quietly sold shares. If people listened to you and bought at 2.5p they would be fecked so hopefully all the LinkedIn nonsense will be ignored.

It's like creepy James and LOTM are in an abusive relationship who keep going back and making lame excuses for their abuser. In May the co said programmatic ready by end of June and guided £4m FY, in Sept programmatic delayed and they said £1.5m to £3m and now they say programmatic could launch in Dec but revenues £1m to £2m and will have a fair whack cash less than Dec 31 last year. H1 is always slow and massively H2 weighted so Allenby guided a £4m loss next year (this was at the time they guided £2.5m this year in Sept) so most of that loss will be in H1 a raise will be needed sooner than I initially thought. Dire. Now if those dose of reality is venom so be it. I wonder how much of the £6m in cash is really there once they pay creditors.

Only yesterday the muppet LOTM was deriding those selling and wishing he had cash to top up again and reduce average. Well lucky he didn't.

Crusade here, creepy James (2phevs) will you were pumping and quietly dumping I said not to buy as a raise en route and we dropped from 2.5p to where we are. You accused the BOD and broker of a mates rates raise FFS when we need over 500% increase to get there and some 15 fold increase % to get to last year's raise price. Numpty.

Why did Disney walk away and TripelIft? Broker guidance was for £2.5m FY and that will be missed by a lot and next year a £4m loss so what do you think will be needed to keep the lights on??? Cash. If there is no low ball offer for Mirriad they will have to get a discounted raise away and likely for 10bn shares but I suspect it will not happen

Agreed troajan, whether it's worth a short term trade depends on the spread

Islava points out that, thanks to the fact that Canela Media owns the rights to its platform and its content, “they can position brands at the right times, within the programs that the audience is watching, whether it is a reality show, a sports program or a newscast.” “This gives us a competitive advantage over other competitors that do not have this flexibility,” he added.

The above is why no one wanted to buy mirriad, why majors aren’t increasing demand. They can’t. It’s niche.

Yep, nothing will stop it, except no one coming in to buy MIRI and running out of cash next year as they can't get a raise away.

It's not fun. You're a complete moron who has pumped and dumped and continues to ramp LinkedIn guff. Am I spouting venom when most of what I have said has come to pass and the share price down some 95%. If that's the case then venom better than the absolute tosh you post. Product placement is a lot more sophisticated than it used to be any many cos specialise in it as movies and series will have a target market in mind and brands can be placed during production and all parties agree. Doing so with major actors or rather very busy actors a minefield as they may work as a brand ambassador or in an ad campaign for a rival etc. Anyway, you can reduce your average so crack on and let me know what's happening on LinkedIn

“This gives us a competitive advantage over other competitors that do not have this flexibility,” he added.

So the above is the issue which is why Diseny didn't extend its 2 year trial and why other majors didn't buy MIRI when up for sale last year as there no major revenues for them. Hence demand down

Phevs you've highlighted why MIIRI is failing. Canela relatively small fry and it has an advantage as the majors are unable to drop in brand post production as too many stakeholders need to approve. TBTT said it's niche and it clearly is

TBTT in advfn -

Yep, that's pretty disastrous. Nobody wants what MIRI offers - simple as that.

Note cash figure does not account for trade payables - money owed to suppliers but not yet paid. If you included that the liquidity position would presumably be a good deal worse.

Either a big discounted raise in the New Year or straight up bankruptcy.

I can't help thinking AIM would be better off without this company.

Look at all the PO happening, it’s taking off as there are agencies who will look at new productions’ target audience etc during and before production and place products and have all neat and tidy and agreed. Doing so after production when actors etc have moved on to new projects and advertising campaigns with brands clearly an issue. That’s why demand side fell IMO which the CEO finally admitted at interim.

I honestly believe shareholders would do better and get the 0.6p/share now and mirriad goes under and returns the £6m.

I’m not having fun. You suggested mirriad could be okay given £6m in cash end of last month and that’s wrong. Mirriad will need a cash injection to survive beyond June. That’s a certainty. Im actually annoyed i doubt the share price will rise for me to put a short and and try and claw back more losses here. Oh well I’d written it off anyway. You and LOTM haven’t learnt a thing and have had plenty of warnings. At least you sold and bought back so reduced your losses too.

From last raise RNS -

Shareholders should be aware that if the Fundraising does not complete by 30 June 2024, the Company's annual report and accounts will not be signed off by the Company's auditors on a going concern basis.

The Firm Placing is not conditional on the Conditional Placing, the Retail Offer, the Directors' Subscription or the passing of the Resolutions at the General Meeting. As such, the Firm Placing will not be affected by any or all of the above failing to complete for any reason.

Shareholders should be aware that the Resolutions must be passed by Shareholders at the General Meeting in order for the Conditional Placing, the Retail Offer and the Directors' Subscription to proceed. If the Resolutions are not passed, only the net proceeds of the Firm Placing will be received by the Company. In such an event, the Company would need to consider the options available to it in terms of alternative sources of funding. It may be that such sources would not be on terms as favourable to Shareholders as the Fundraising. Further, there is no guarantee that alternative sources could be found. 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.

In the event that the Company is unable to meet such obligations as a result of the failure of the Fundraising to complete in full, and in the event that the Company is unable to secure alternative sources of funding, the Directors believe that it is unlikely that the Company will be able to continue as a going concern and it is highly likely that the Directors would (in order to fulfil their duties to the Company's creditors and to other applicable stakeholders) seek to place the Company into a members voluntary liquidation (which is a solvent liquidation procedure) that will seek to pay all creditors of the Company in full but any such proceeding would be likely to result in little or no value for Shareholders and Shareholders may lose all or a substantial portion of their investment.

These possibilities are considered to be realistic, not remote.

2phevs even with shoddy auditors it legally requires 12 mo this cash to sign off the audit as a going concern. You haven’t learnt a thing.

Dec last year they had £6.1m in cash and they had to raise at a large discount as it was a distressed raise (2 months before suspension) and we all know H1 is always very slow here with or without programmatic. They will be looking to raise in early 2025 and a big if they can get one away it’ll be billions new shares. My bet is they’ll be put up for sale and with no interest will fold. Stephan will eke it out until no cash left as long as he gets £40k a month.

US election money, YellowStone etc. keep buying boys.

Mirriad has at last don’t as promised and with a Q4 trading update. I wonder how much money was generated from US elections as LOTM suggested. Surely they’ll be nearer top end of £3m guidance with all the LinkedIn activity.

Trading update

Mirriad (AIM: MIRI), a leading in-content advertising company, announces the following trading update for the twelve months ending 31 December 2024.

As noted in the announcement of interim results on 23 September 2024 (the "H1 Results"), the Company had not been successful in the US "Upfronts" negotiations and that it was therefore reliant on its traditional routes to market, notably the "scatter" markets. Progress in those markets since then has been slower than expected, with advertiser demand in the US affected by election uncertainty, further decreasing demand for advertising in linear TV, and continuous emphasis on performance and retail media solutions. A number of significant potential contracts have been cancelled and progress on others has been slow.

The Company also announced in the H1 Results that it was holding substantive discussions with large global agency groups to work on partnerships to give their clients access to virtual product placement content clusters packaged around seasonal events and specific contextual parameters. These discussions are active and could still result in substantial revenue in Q4 but are dependent on the agencies and supply partners agreeing the terms for these packages.

On programmatic, good progress has been made and a Q4 launch is being targeted, though some technical hurdles remain. In any event, a successful launch of programmatic is not likely to generate significant revenue in the current year.

As a result of the above, revenue expectations for the year fall in a broad range from £1m to £2m, with the upper end of that range dependent on the partnership deals referenced above.

Substantial progress has been made on cost saving initiatives, both as previously announced as well as new initiatives, and the Group run rate cost base is now c. £8m on an annualised basis. This compares to c. £11.7m in 2023. Cash at the end of October 2024 was just over £6.0m.