Member Info for LovableLumax

*In the US Mirriad in the first 6 months billed £230k in total

It's a shame traditional ads are being saturated I guess it shows how their spend isn't going to VPP which is obvious with how tricky getting permission from all the stakeholders would be. Mirriad in the first 6 months billed £230k in total which is less than the CEO will have picked up in 6 moths. Good old Stephan. He'll hope to eek out another year come Jan as he'll take 6 months to June and if they can't get a raise away he'll get his 6 months notice paid too. Gravy.

Is it being streamed live?

Apologies US H1 revenue declined to £230,000 which means on average each state spent £767 a month with mirriad.

Ah man that’s such a shame. It would have been great to know what the monthly ad spend in each state was. From Jan to June Mirriad on average generated £1,300 in ad spend a month in each state. I’m sure that article would have lots of meaning to mirriad.

Given the guidance was reduced from £4m in May to £1.5m to £3m a couple of months later it seems highly improbable. They also have to RNS any material contracts and that means anything expected to generate 10% of prior year revenue so 180k. In addition getting permission is hard enough but getting permission on political advertising even more so. What drop a Trump MAGA mug onto a coffee table? Ridiculous.

That being said any bounce will surely be well sold into. Who knows with MIRI may get a fair few more in for a pump and drump. Someone manufactured that on X (twitter) a little while ago.

It's only just below on the hourly RSI and SMI.

Yep, if there was value the directors and Institutions would be piling in. Below cash in bank and if the IP was worth anything a media co or large agency would have put a low ball offer in last year or even now. No wonder Stephan and the Execs have so few shares. The CEO had to put in on the last raise but it was a token gesture really, he put in 1 month's worth of his salary. I bet he was loathed to do so but knew he had to show willing in order to continue getting his £40k a month. I guess the Chairman and IIs are as peeved as many others, early June all looking rosey with programmatic and 4m guidance and then a few weeks later all gone tits up. As if it came as a surprise to the CEO. Either he's grossly incompetent or economical with the truth. My view is it's more the latter.

Given the share price and cash position the continued silence from the co speaks volumes. I can't believe there are still buys going through.

A reminder this is what was published in an RNS on 4 June - On the technology front, our platform migration completed in 2023 (with development support from Microsoft) towards an open architecture. The integration of advanced AI capabilities and the inclusion of third-party tools are paving the way to scale through platform "self-service" and access to a wider client base via Microsoft's Marketplace. Crucially, we are actively engaged with TripleLift and other adtech partners to initiate programmatic activation in Q2 2024.

Then just 3 weeks later this - Our push towards programmatic sales, sustained by growing advertiser and media partner demand, has progressed in terms of the alignment with leading adtech and CTV (connected TV) companies in the industry; however, in a complex ecosystem of interlinked players, we have been constrained by the readiness of some third parties. We therefore acknowledge a delay to the programmatic roll-out in CTV that had been expected in H1, but stress that the overall size of the opportunity to integrate the Mirriad ad format as a new standard in the ecosystem remains the same.

Then we hear from Stephan in the presentation that TripleLift (remember the RNS said the - Agreement is key to accelerating programmatic sales in the US and beyond) has decided to end their partnership as it didn't want to commit resource. Now does that sound like programmatic needed a little bit of work to launch or a lot and TripleLift doesn't see the value in doing so.

But don't worry as Maria is attending award dinners as a panelist. Funny as.

What's crazy is LOTM has substantially more shares than every member of the BOD and nearly has the total between them. No wonder he continues to pump and lap up their LinkedIn nonsense. His saviour is now Maria who has been there for many years. I can't believe TripleLift and the other strategic partners didn't hang around for her, I mean she's a fox too!

Mirriad has been writing guff on LinkedIn and its website for years, long before LOTM was invested (I was). The CEO is milking £40k a month when a MD of a small ad agency would be on 1/3rd of that. He actually got nearly £1m one year when he managed to raise at a huge price.

If mirriad was gonna be the next big things its strategic partners wouldn’t be walking away, demand side wouldn’t be falling and they’d be taking more staff on not penny pinching and laying more off. Oh and now PwC has said enough is enough we can’t even have our trainees working this

Writing guff on a website and linked in is not regulated.

They RNS’d TripleLift as they believed it significant and no RNS when they walked away before July. 8 April RNS

Programmatic partnership with TripleLift to scale in-content advertising

Agreement is key to accelerating programmatic sales in the US and beyond

Mirriad, the leading in-content advertising and virtual product placement company, is pleased to announce that it has entered into a strategic agreement (the "Partnership") with TripleLift Inc. ("TripleLift"), which operates a supply-side platform ("SSP") for advanced ad formats that processes over one trillion monthly ad transactions across online video, connected television and other channels.

As part of the Partnership, TripleLift's SSP will facilitate automated selling of in-content inventory from Mirriad's growing number of supply partners into leading media buying platforms such as Google's DV360 and the Trade Desk. This will give advertisers and media buyers the ability to buy this inventory in their programmatic platform of choice.

Together, the two companies aim to create a marketplace that includes content from leading entertainment media conglomerates as well as a wide range of diverse-owned and targeted content partners across a range of digital video formats, including connected TV ("CTV"), video on demand ("VOD"), and free ad-supported streaming ("FAST").

Mirriad and TripleLift will continue to monetise their unique services via the respective fees generated from inventory transactions.

Stephan Beringer, CEO at Mirriad, said: "It's exciting to take this next step on the path towards programmatic in-content advertising, which is a game changer for the industry and Mirriad revenues. This partnership establishes our connection to nearly all the world's leading demand-side platforms, offering advertisers an automated way to purchase in-content placements on their preferred platforms, targeting key audiences within Mirriad's expanding network of partners.

"Following recent agreements with US entertainment 'majors' and 'super majors', and the programmatic testing with partners and content distribution platforms over the last 18 months, we are a key step closer towards a 'plug-and-sell' proposition which will accelerate adoption and scaling. Working with TripleLift, a leading ad tech platform that is truly elevating digital advertising through high quality inventory, data, and smart targeting, means Mirriad can offer existing and new content partners an integrated programmatic solution.

Blimey they’re sells and good to see Heights getting through them at apace.

Nothing new here that’s the issue. Revenues stagnant or down - check; cash burn continues with break even a way off - check; guidance missed by a mile - check;; another discounted raise en route - check but we don’t have a programmatic timeline to miss so that’s a positive and our auditor resigned so that’s all good news.

Have to love AiM unicorn chasers.

Rotation? WTF. PwC resigned. The business wasn’t put out to tender.

They’re burning cash and the market rightly is discounting it as it’s reduced every month. The market sees a dead duck but don’t worry Maria will save the day.

Huh, I said our auditor walked away which it did. Of course we have a new one, if we didn’t we would be suspended!

The new auditor says it all, bottom of the barrel.

Imagine Institutions who would have been told (as the Chairman likely was) that programmatic would be ready by end of June and I'm sure Stephan would have said TripleLift have just signed and all looking rose, £4m FY. Then a couple of months later programmatic delayed without a timeline, TripleLift that was signed April 8 have walked away as they don't want to commit resource (I read that as they think it's a waste of time) and we're reducing guidance from £1.5m to £3m and here we are nearly in November without any material RNSs and our auditor has walked away, share price at a 52 week low and no tumbleweed. No way Institutions will stump up more cash when the begging bowl comes out unless there are some large (signed) orders and better visibility on revenues.

It's difficult for actors etc to agree to having anything dropped in to something they feature in as it will curtail future ad/branding work they may well get. For instance before Natalie Portman became the fact of Dior if she and her management had agreed to VPP and YSL dropped loads of stuff in a series that was big it would likely limit the campaigns she can work on. That's a vey basic example but my bet is the number of stakeholders needed to sign off makes this massively prohibitive so the programmatic concept wouldn't work anyway as you have to do it manually in order to get permissions. You hav e to ask yourself is this was going to take off why TripleLift walked away? Surely they'd want to be with MIRI as the early adopter/market leader.

FYI December 31 last year MIRI had £6.1m cash. They will likely have £4m to £5m this year. Given demand fell in H1 even with the reduced costs they look decked. Either they get a discounted raise away with billions of new shares of it’s good night. There was no buyer last year and tripelift didn’t want to play ball and PwC walked away so it looks ominous.