Member Info for LovableLumax

TBTT -

Well, the standard contracts are renegotiated every few years - for the DGA every 3 years. The next renegotiation will be mid 2026. It's the same for the WGA and SAG/AFTRA, but I can't tell you when the renegotiations are due.

Speaking for myself, the idea that MIRI can "graffiti" over my work is a complete non-starter, unless somebody is prepared to pay me really very silly and completely unrealistic money. For any actor the problem is doubly acute, as it amounts to involuntary endorsement.

(And getting name actors to endorse a product is massive bucks - I shot Bruce Willis (great guy) in the 1990s for a couple of TVCs for Japan - even then he was getting $1m per day).

As said, MIRI need to come clean and explain where they are going to place their adverts. Bar some tiny niche applications I just can't see where. Until then I will assume that the CEO (on a massive salary) is taking PIs investing in this minimal revenue company for fools.

* Active agency relationship down 1/3rd to 12

Surely what tigerbythetail believes is right. He works in the industry. He was the first to mention the legal minefield of getting approval possibly 2 years ago (Mirriad first mentioned in Sept this year) so knows his onions. Judging by the H1 demand side collapse there see clearly issues and perhaps that's why TripleLift didn't want to waste time on this. Active down 1/3rd to 12 and and advertisers who ran campaigns also down 19% from 31 to 25 and remember they used to have 3 strategic partnerships and now have 1. On average each advertiser spent £15,600 in 6 months. Something clearly amiss.

Anyway, TBT post on advfn - Hi Kaos! As somebody who owns various rights in a few movies and TV series, I can confirm that there is no such clause in DGA, WGA or SAG contracts.

Trying to insert one would lead to a major scandal. Especially with actors, who would be "endorsing" God only knows what products on screen. Agents exist precisely to nix such ideas!

MIRI need to come clean and explain precisely into what filmed entertainment they can place their product placement in post. I don't really see a market for their product, and judging by their pitiful revenues it would seem I'm right!

What mirriad needs to do is accelerate its revenue growth in order to stop the cash burn. Even their broker has them at less cash at YE than last year and has a £4m loss pencilled in for 2025 so a raise early next year inevitable. Mirriad said they would update the market in Q4 regarding revenues as their guide of £1.5m to £3m rather broad. These fluffy RNS reach do not cut it. Money talks so I am interested to see the next regulated RNSs that drop. Funny how they published a regulated RNS to tell us TripleLift had partnered to deliver programmatic in April but they just casually mention in a presentation in Sept they walked away.

If there is accumulation they can buy 3m shares for 0.32p right now. The issue is Allenby will be trying to sell shares as that's their job but their guidance for this year is awful and next year is still a whopping £4m loss so the market knows like last year and the year before a raise will be needed in H1 even with the new cowboy auditors they will need a year's cash to not go under. The question isn't whether a raise will be needed as even the broker says so it's whether they are able to get one away.

Troajan I can buy 3m shares for 0.32p, seem to be a fair number for sale.

Sorry I have to point out that having suffered heavy losses here (my own fault) making money back from shorting isn't shameless. I hope a short and then close it and make money. I should have sold the 500k and made even more but kept them for posterity. I have been on here speaking truths and warning folk as the share price has fallen from 2.5p to 0.3p today whilst you have been persuading people to buy at 2.5p and have likely cost many a fair few quid. What's shameless if you and LOTM continue to pump and even cross ramp on other boards. LOTM had to look back over nearly 18 months to see when I last did that. You morons have no self awareness at all.

Actually boys I’ll leave you to it for a while. Get the share price up to 0.5p and I’ll be taking out a short. 0.5p to sell and I’m all over this as a short.

Yep and the short reduced losses here. Thanks to creepy James and LOTM pumping I made decent money as took it out when you were persuading others to buy. Cheers

Oh, and to add, you do understand that SAG / AFTRA / Equity / WGA / DGA exist, don't you?

And that they would have a great deal to say about "clauses" being inserted in contracts allowing VPP?

I've tried and tried to imagine where you could insert advertising in post.

NOT SPORTS, definitely. (And anyway, sports is all about the live market, very few people watch reruns of sports events).

NOT FILM AND TV DRAMA made under union rules (i.e. almost all programming that is actually popular).

Micro-budget non-union films? God knows, maybe. But they only attract tiny audiences, so no value in then. Music videos? Well, only for newbie acts.

IMO, the whole damn thing is just a dead on arrival idea.

You'll probably find some way to convince yourself otherwise, but don't say you weren't told.

Creepy James is back in so expect more useless LinkedIn posts. Although the crepe has been blocked by many at mirriad for stalker like behaviour!

Hey phevs someone at an invoice finance co liked a post can mirriad avoid a raise? Haha.

No short open as a pump and dump inevitable. Dec their news rich period. I’ll open another in Q1. Will wait for more news and a higher share price as little point shorting down here.

From advfn -

No, I've never traded MIRI. (And as an investor I never short.)

I just happen to work in the field. MIRI's pitch to a professional is plainly ludicrous. Your posts entirely miss the point - you seem convinced that there is mass market where there isn't one, and never can be. In other words, you've been taken in by a load of fluff and hype (very usual in the advertising world - I know, I've shot a couple of hundred of TVCs in my time).

There is no technological barrier ("moat") to entry in this market. I could do most of what MIRI do on the computer I'm typing this (which to be fair is fairly advanced). In bulk, you would of course outsource to somewhere like the Philippines, where you can get cheap rotoscoping & compositing done in bulk. MIRI's technical pitch is baloney.

But the key problem is the legal issues, which you don't seem to be able to understand. I have shared rights in several pieces of valuable intellectual property, including studio pictures and syndicated TV, and I receive royalties from them.

To insert product placement in post in them would involve:

a. A huge chain of file extraction, re-formatting, and re-verification, which would cost thousands of bucks on its own. (i.e. re-do "delivery" each time - a nightmare);

b. Getting clearance from all actors, writers, directors and producers of said shows, negotiating both an appropriate fee plus convincing them that there would be no reputational damage. Speaking for myself, I'm highly unlikely to agree to anything of the kind except for silly money. Lawyers' fees alone might easily run to 6 figures. (Can I see total billing of $500/hr x 200 hrs on this - oh yes, easily!)

This is NEVER going to be economic and/or feasible. It's just a bad idea for a business. I assume that MIRI themselves know this because it's pretty basic - certainly the CEO's incredibly high wages indicate that he thinks it is a "take the money and scarper" proposition.

Best of luck whatever you decide, but I expect MIRI to fail. With near 100% certainty.

At face value this is impressive. Not sure many current holders recall the fanfare when the Kantor research on mirriad was published. Much fanfare and again impressive results from an independent market leading research co. It was meant to be the catalyst for an increase in sales. It didn't happen. The issue isn't the format's effectiveness it's being able to sell at scale. No programmatic, no automation of inserts and I now believe more importantly getting stakeholders permission the biggest barrier. Notice this is an RNS reach so not material. A decent pump and dump en route. The question is can those looking for a quick buck sell near the top.

The next RNS should be material and will tell us whether Mirriad can make it to June before they will either need to have raised cash or go under. From the interim RNS -

We expect to be able to update shareholders further in Q4 on both the progress of the pipeline deals referenced above as well as the agency partnerships

Yeah Bentley especially if they hit guidance for this year would equate to £3.6 mill H2 turnover which would cover the £600k (as per Mirriads guidance cash burn) a month costs.

* guidance now reduced to £2.5m with less money at YE than last year and next year guided to still lose £4m so break even a way off. LinkedIn nonsense should be ignored as illustrated above. I also remember phevs thought programmatic completed as tripelift had posted something on LinkedIn and was as far from the truth as possible.

Anyone who has a LinkedIn account should look back at Mirriad’s account over 5 years and notice how they posted great things way back when and had likes from many in industry and all that’s happened is Stephan taking huge package, demand stagnated or fallen and raises needed every year before accounts are signed off and same will happen.

Anyone with advfn have a look over there. I notice LOTM hasn’t posted his exchange with someone who works in the industry and actually brought up the issue with permissions a couple of years before mirriad mentioned. Funny that.

There were dozens and dozens of LinkedIn posts last year and every year prior on Mirriad's partners both supply and demand side but very few RNSs as the campaigns do not contribute material revenues which is demonstrated in the stagnating revenues.

The * are my comments on Phevs' posts.

Some of 2Phevs' comments just before the raise -

Might not need to know how much cash with maybe a equity stake from Samsung

This guy who heads up Samsungs equity investment in deep tech just liked Stephans "Upfronts" linkedin post....never seen him before and believe me I research every like on key execs likes from Mirriad

https://www.linkedin.com/in/ccgressum?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=android_app

Now that would be a serious RNS

*Samsung didn't take part in the raise

Yep LOTM especially if they use confidetial invoice financing that can release up to 90% value of booked work and again Stephan had a like from a specialist provider of this type a few weeks ago which I posted here

*The above the funniest of the lot given MIRI on average invoiced £150k a month and had costs of a little less than £1m a month and the joker thought invoice financing on sod all revenue could ensure they avoid a raise I mean it's beyond idiotic

Agreed LOTM

perhaps you could send an email to IR as a little nudge once they've completed their current $25 mill revenue per US Major programmatic mission.

I've found Tom very helpful in the past GL

*The above more fantasy, look at the guidance for next year which will be missed and the joker posted the above.

All I can add on the cash runway LOTM is if they carried on the same (they had a lot of expenses last year that they haven't had so far) they'd be good until October, however IMO the 4 fold increase in product placement and the increase in US market from 8% to 40% has got to take that out to Jan next year, The HUGE caveat being if programmatic scales rapidly Mirriad could go to CF positive within months.

*He posted the above before a disastrous raise and people take him seriously? James or 2phevs has a handful of contacts on LinkedIn so his nonsense re being involved in a US listed co more BS.

What a laugh M&G.....can't believe people give these companies their pensions to manage....Rathbones obviously got their researchers on the ball perhaps we'll get a bullish comment from Petro now

*That was when the share price was 2.3p and M&G like me knew a raise was coming so was selling yet 2Phevs thought he knew better than fund managers

Over many weeks 2phevs said the board and broker conspired to ensure their associates got mates rates and the clown (with his handful of contacts) posted to the broker on LinkedIn accusing them. I mean what a moron and now we need over 1

300% uplift to get to his mates rates and 10 fold to get to last year's raise.

This poster mentioned it not working due to permissions maybe 2 years ago. This was only mentioned by Stephan in Sept. A post from advfn, tigerbythetail -

Last of the Mohicans - as I written before, this is my parish, and MIRI's business model simply does not work (excluding some tiny niche applications). Advertisers can't "graffiti" over filmed entertainment without having the permission of all of the creators of that work - a huge legal undertaking that renders the whole exercise massively uneconomic. And it's not only a question of money, reputations must also be taken into account.

I"m negotiating some pre-filming product placement deals at the moment. You've no idea what a pain in the ass they are.

You're maybe the one needing help here. I don't know when MIRI finally reach the end of the road, but they will for sure. Buying more and more on the way down is NOT a sensible strategy, you're just upping your losses.

*I wager 5bn shares at 0.1p in May or if there is a run on the share price early next year could be 10bn at 0.05p.

I forgot to say Allenby’s optimistic note has revenues of £8m next year and a loss of nearly £4m (so will be more). Breakeven they will say end of 2026 or 2027. I wonder how many billions of shares they’ll need if institutions will throw even more money at it? 3p raise in May 2023 was around 250m shares. 1.25p raise in May 2024 was for around 500m new shares. 2025 if they can get support I wager 5bn shares at 1p in May or if there is a run on the share price early next year could be 10bn at 0.05p.

my god you said you were going to keep 10m and have a trading pot. you haven't sold any as the price keeps falling you clown!!! funny as.

i'm not filled with rage, i credit the ceo for taking the **** for so long. if you can get away with it why not. hats off.

I’ll leave with this. Since LOTM and Phevs started posting and mainly lots of LinkedIn articles which are all positive but no RNSs supporting (so not material) the share price has collapsed and in that time I’ve said it’s a jam tomo lifestyle business that’ll continue burning cash and will keep coming back for raises as financial KPIs always missed. I have been right but clearly I bought the jam tomorrow a while ago. Phevs pumped and dumped twice and is now back with some shares so will no doubt start ramping. LOTM also has a trading pot and is massively underwater so will continue to pump.

The fact is the CEO guided £4m in May which was reduced to £1.5m to £3m a little while later with no programmatic timeline and the optimistic Allenby note forecasts less cash this coming December than Last and break even has moved out beyond next year. If anyone believes another awful raise isn’t en route (if they are able to) they are as dim as the aforementioned and even the new cowboy auditors can sign the accounts off hence PWC resigned. Talking of resigning LOtM was looking forward to hearing from Triplelift a little while ago. They also resigned. Bodes well.