Member Info for LovableLumax

Really sad the CEO can only keep his £500k pa gravy train going for as long as possible by shedding even more staff rather than increase sales. H1 figures away, not just the financials but demand side down significantly. Alarm bells ringing.

No material contracts won (worth 10% of prior year revenue have to be subject to an RNS so if a new contract is expected to generate £180k in a year has to have an RNS), fewer active agencies working with mirriad (down 33%) and fewer advertisers running campaigns (down 19%) and having had 3 strategic relationships a few years ago they now have 1.

Less cash as at June 30 this year than last and even with cost cutting less cash at YE a certainty. The question is will they be able to get enough IIs on board for another raise and they’ll want a large discount if they see any future. Without news I suspect there will be a run on the shares before December.

Tripelift did walk away as the CEO said they decided it wasn’t a priority which to me says they don’t think it’s worth putting the effort in. Read into it what you will. The reason they haven’t come up with a timeline is because they likely don’t have one and if they do they don’t want to share it. I suspect it will come up in the next few months once the begging bowl comes out.

A huge issue is repeat business. Mirriad keeps winning new impressive partners but has lost a lot of demand business so lack of repeat business. They have also lost agencies and strategic partners. Surely these guys wouod want to continue testing ahead of programmatic.

Anyone thinking a raise isn’t needed soon away with the fairies. Guidance down at best missed by 33% (£3m rather than £4m) or they will need 166% more to his (£1.5m rather than £4m). One only has to look at the track record to realise it will be at the lower end and will have less cash than last year even with reduced. costs. H1 always slow so the question is will they raise this year or next.

There seems to be a number of new punters on here and some I assume are looking in. LOTM was pumping this on dofferent boards at 2.5p and then when they raised at 1.25p came on here contrite and apologetic for those who bought.

Anyway, MIRI has used LinkedIn and other unregulated platforms to pump the co. I receommend visiting the MIRI website and looking back on the presentations over the years and look at the TAM. potential, superb brand partners and look at the revenues, raises and general BS. Only in May they said programmatic would be ready end of June and guided £4m. A couple of months later they the key programmatic partner walks away and there is no timeline for launch. Guidance of course missed and we cxould be low as £1.5m so like H1, FY revenues less than the year before and less cash than the year before. The question is will they leave it as late to get the begging bowl out or will it come out this year?

we have had all this talk of huge tam, deals close and potential realised soon. all the while 3p raise to break even, nope, 1.25p raise break even, nope. no programmatic, issues with permissions (as flagged by tiger on advfn) and guidance of £1.5m (less than last year) to £3m which will be missed by a long shot and less cash at ye than last year. ceo takes £500k and his gravy train continues. raise needed and will be worked on before ye or very soon after. billions more shares en route and no doubt a lot less than the current price.

no tr1s as institutions aren’t buying the ceo and his bull**** any more. recent pump instigated from x with retail wanting s quick buck.

Indeed, a superb RNS could land with material revenues this year. That is definitely needed to avoid a raise. Given their pipeline and outlook it seems unlikely but something could come out of nowhere I guess. Looking at the past gives one a better idea on what to expect. If there is nothing in the next month or so I can't see them waiting to long to work a raise as look what happened this year.

I see a massive pump going on here. Like Cannes Mirriad has attended such events for many years and all that's happened is more partners but stagnating or even falling revenues. Remember H1 was down 33%. Some TA guy saying a gap at 8p, I mean mirriad is expected to turnover £1.5m to £3m this year with large losses and will end the year with less cash than last year but yeah it should be valued at £80m. I mean no one wanted to buy mirriad when it was up for sale and they could have thrown a lot less at it but there was no buyer.

Programmatic was meant to be Mirriad's saviour in terms of accelerating revenues but that's been delayed as the main partner walked away after a few months as they clearly didn't see any legs in it. No timeline has been given for when it will be ready. Is it because of issues getting permission from all the stakeholders lawyers post production (they've already said it's an issue as pointed out by a poster on advfn over a year ago) but whatever the reason Tripelift was the exciting main programmatic partner that walked away. Not good.

Also H1 shows a really worrying slowdown in demand side. Active agency relationships down 33% and number of clients running campaigns down 19% and they've only got 1 strategic partnership from 3 a couple of years ago. That's not good. The pipeline clearly poor and a raise like I said last year will be en route soon enough. The auditor won't sign off the accounts so they'll look for more money end of this year or early next and it will be more than 100% dilution.

I suspect the pump will continue until the dumping starts.

To be fair what's deemed material a grey area. I mean the science day deck way back when had the amazing biopsy data that seemed material to me but was not subject to an RNS. Given the huge sums spent on ADCs and recently I think the retail investor hype around the pipeline (given 6000 clinical data underpins preCISION) could not just be confined to that group.

It's preclinical so not deemed material

Hear hear!

103 Avacta posts so far in 30 days and many are long-winded and waffly. Get a life. You're not even invested right?

Wyn have you really nothing better to do with your time?

Expansion cohorts will be on naive tumours so there should be even more efficacy data. Given the amount of dox getting into cancer cells and stroma treating patients in a first line setting on tumours receptive to dox should have amazing results and hopefully save lives in the short term. A TO or large deal will surely follow before P2

Avacta also has the highest number of posters who are not invested giving up their time and posting constantly. Bizarre unless they are short.

WTF. That smacks of desperation, no way you'd get multi parties signing off on political messaging/ads post production. Bananas. No life in that at all.

We know many ADCs continue to have off target toxicity issues and still only a small % gets to the tumour and most systemically. preCISION remember gets around 100-1 tumour to plasma ratio 24 hours after dosing. It seems ADCs get around 3.8 to 1 and again I’m sure we’ll see evidence of this in the pipeline reveal.

https://x.com/jivetur88775834/status/1841372210067374488?s=46

Thorn you were suggesting 6000 was excreted too quickly so was likely ineffective when biopsies showed huge amounts of dox in the tumours 24 hours after dosing meaning your argument baseless given how quickly normal dox is excreted (half life). The fact they can play with the linkers to extend or reduce half-lives fantastic for the pipeline and that's what we will no doubt see in the pipeline

Presentations aren’t regulated like material RNSs. The CEO seems like a fantasist and is always spreading jam to ensure he can keep his £500k pa for as long as possible.

In the recent regulated RNS there was alarming KPIs.

Active agency relationships down 1/3rd from 18 to 12.

Advertisers who had run campaigns down 1/5th from 31 to 25

Strategic partners was 3 a few years ago (including Tencent) and now 1.

You can have as much supply side partners as you want but if you’re losing demand side revenues will continue to fall.

Ask yourself why they’re losing demand side, why TripleLift walked away after a few months and why the new chairman didn’t show his face. Also, worth looking back at the presentations over the years which have always been about the huge potential and always about to take off. One thing that is consistent is missed guidance, cash burn, raises with huge dilution.

They have mentioned they have not secured campaigns as failed to get clearance. Seems tigerbythetail was right. no wonder they are losing revenue and clients.

From someone who works in this field... MIRI's claimed "model" simply doesn't work for sports and filmed entertainment, and can never work. LOTM simply can't / won't understand this - presumably because they don't want to recognise their losses.

At best, the "addressable market" here is tiny and niche.

I could explain at greater length about rights, not least as royalties from my previous work makes up a substantial chunk of my own income. But it would be tedious to do. But, in short, you can't just drop in adverts in post-production without paying off not only the copyright owner of the work, but all those who participated in making it. In particular, any SAG/AFTRA/Equity actors involved (and their lawyers / agents / managers) would need to approve the content of the advert (i.e. monitor for reputational damage) and be satisfied with the fee they were receiving.

In the real world it's a huge hassle for only a small payback.

Long ago I filmed some TVCs with big Hollywood stars (e.g. Bruce Willis - great guy, hope he's doing well with his illness) for Japan. You can't even begin to imagine the complexity of the negotiations with his "people".

One look back at my posts and you’ll see substance. Unlike other posters who continue to ramp and post LinkedIn news which are not subject to RNSs as they are not material I present a more realistic appraisal based on RNSs.

The company has finally admitted getting permission from the various stakeholders has posed a problem and IMO will continue to do so. Even when/if programmatic is fully launched it will be hamstrung by the need to manually insert brands. I assume that’s why Amazon had PHD students to try and develop a way to automate the process. They were unable to do so and the same applies to Mirriad. The bigger issue is the number of stakeholders who are needed to sign off anything post production.

Perhaps that’s why demand side is falling. Remember when mirriad had 2 strategic partners (excluding Tencent) and a year ago they lost one so only have 1. If this space was truly going to take off demand would be on the rise (even before programmatic) and they’d have more strategic partners not fewer. Also being reliant on 3rd parties who are clearly not motivated as alluded to by the CEO. The big fanfare about partnering TripleLift was subject to an RNS but the fact they walked away (after looking under the bonnet)

was casually mentioned in the presentation. If that isn’t another red flag I’m not sure what is. If this had big potential not only would TripleLift not walked away they’d have resourced it properly.

A few months ago they confidently said programmatic ready in June and guided £4m we now have no timeline for programmatic and are guided £1.5m to £3m and given Mirriad’s record surely the lower end a lot more likely. Mirriad understandably cutting more costs to extend the diminishing cash runway as they clearly can’t ramp up demand/revenues. There seemed to be friction between the new CFO and CEO, not good. Given the shocking share price (well below cash value) the new Chairman could’ve attended the presentation to reassure investors but decided not to. The question is will IIs throw more money here when the begging bowl comes out end of this year or early next. No cash position given end of August so one expects less than £7m and clearly less cash end of this year than end of last. At least last year we had the prospect of programmatic happening and thought that would be the saviour. I suspect many don’t think that’s the silver bullet if it ever arrives.

On the plus side the CEO still taking £500k a year.

I have only ridiculed 2 posters being 2phevs and LOTM. If you can’t look back at their posts at 2.5p then more fool you.

If you want a board to merely cheer a CEO and retail punters egging on others to lose their money then you’re weird.

People just want to hear what they believe. You know idiots like LOTM deserve to lose their cash and the CEO here deserves to take it if mugs continue to keep lapping up the jam.