Member Info for Muck165

Some interesting and very encouraging CTV stats and forecasts here

https://www.stackadapt.com/resources/blog/connected-tv-stats

CIQ is riding 2 huge waves, Agentic and CTV.

Both are cresting.

£3m MCAP seems utterly daft to me

Interesting to see DH tweet this same Pubmatic piece yesterday, along with a comment.

https://x.com/TheDavidHalley/status/2049137850755534983

“ The agentic move in advertising continues. It is the logical path and CIQ stands to benefit.

CTV and online video is the future of media, and understanding the contents of millions of hours of video is the only true way to advertise there compared to linear tv (defined programs, easy context eg Coronation Street) and websites (first party data is enough)”

OK - mistake in my last post on this thread The Court hearing today related to the Sinarom insolvency procedure, not the VBP procedure.

But encouragingly, the Court simply agreed to continue monitoring the Sinarom re-orgnaisation plan rather than end the procedure altogether (which would have meant bankruotcy) One might hope that means that, at least as far as the Rom Courts are concerned and in the context of this procedure, they don't yet think Vast or Sinarom are dead in the water.

Just before the opening auction finished our 10m bidder showed their hand again at 0.6. No takers. Demand is there.

Pubmatic released this today, clearly showing how its agentic curation and buying platform is accelerating globally.

https://pubmatic.com/news/pubmatics-agenticos-accelerates-globally-as-agentic-campaigns-unlock-efficiency-and-performance/

I think this is the bit to take special note of

“AgenticOS, launched at CES in January 2026, is an operating system of more than 20 agents that includes: Audience Discovery, Inventory Marketplace and Curation, Media Activation, including brand safety and budget capping, Deal Management, Fee Transparency, and Insightd, and connects to partner agents, inventory and data partners through current and new protocols. These agents operate across PubMatic’s compounding assets: premium inventory spanning 2,000+ publishers and 100,000+ sites/apps (including 28 of the top 30 global streamers), a data ecosystem of 200+ data and commerce media partners giving agents continuously learning targeting and audience capabilities, direct activation and interoperability through Activate, enabling real-time buying without intermediaries. This all sits on the most advanced owned and operated infrastructure purpose-built for accelerated computing and analytics”

Exactly what I’ve been saying here. CIQ is a data partner providing insights. Any agency or brand using AgenticOS gets an automatically curated solution from across the Pubmatic data partners, including us. If we cut the mustard, the agents should choose us, and one of the metrics will be cost. That, according to DH, is where we smash the competition.

Whatever else, this piece clearly demonstrates that CIQ is superbly positioned to benefit from a “ validated behavioral shift in digital advertising”

The real frustration for me Pompal is that the scale of opportunity here really is blue sky. Its no exaggeration for me to say that CTV, and contextual targeting is at the absolute forefront of the whole structural shift in privacy first brand safe advertising driven by an agentic buying process.

By way of example, Pubmatic just released their Q1 results, surpassing the guidance range and saying ;

"Agentic AI is creating a structural shift that is redefining the entire digital advertising market. Our AI solutions are seeing the fastest adoption of any product launch in our history."

I’ve been honored to lead our Americas business and witness the acceleration in AI adoption and CTV momentum firsthand"

CIQ is one of their AI partners, but we're also partnered with Magnite and I'm sure Pubx, and are told we have a direct user plug in.

Our routes to market are there, our scale potential is there, are costs are super attractive. I just wish that Halley would give us a bit more than "we're in demand", "expect significant revenue growth", "in discussions etc". Show me how that demand and discussions are translating into real commercial traction! That is what the market is looking for now.

https://investors.pubmatic.com/news-releases/news-release-details/pubmatic-reports-preliminary-first-quarter-2026-revenue-and

There’s certainly a bit of frustration out there.

The fact is, the CIQ update given in the interims almost mirrors that given in the May 25 update - CIQ getting first revenue, in discussions with major agencies, and white labelling.

So what has happened in the 11 months since May? We don’t really know. We can only infer from the hiring, the web overhaul, and Halley’s general positivity and calmness. And we certainly at the forefront of everything going on in the industry, and are told we’re in demand.

The potential is huge. Traders looking for a spike know that, hence the weird daily buying and selling as they take a chance and lose patience when news doesn’t fall in their lap.

All that said, I do think shareholders deserve a bit more comms and transparency from DH.

I'm being quoted 10 to buy and 10.16 to sell substantial volume! Certain all these trades at 10 are buys....

Just to answer your question Bigun - since at least September 2024.

I'd echo Jackbal though - its the Nomad's job to ensure regulations are adhered to, but I've had no luck whenever I've contacted them. Susie at St Brides has normally been the best bet.

But then I suppose Vast could legitimately argue that its obligation to update us only becomes relevant if things have changed materially since the last update. So, if they are still negotiating with creditors, haven't yet agreed a new longstop, the deal isn't formally dead, and no diamonds have been sold at material value, then there isn't really much of an update they can be expected to give.

But equally, and in the silence, we can infer no debt extension has yet been agreed, creditors have nonetheless not accelerated the debt, no diamonds have been sold, no longstop extension has been agreed, and the deal is still live, because if none of that were true then we would have had to be told under the rules.

And perhaps another irrelevant, but nonetheless interesting snippet, is that Natie put yet another post out on Linkedin about Sovereign AI today and tagged the Executive Chairman of NYCE International. Farzard is CEO there.

From what I can see from the Romanian Court records relating to the BP insolvency/re-organisation proceedings, the next hearing is set for 28 April, so next Tuesday. I suppose that could be the hearing where a final re-organisation plan is submitted to the Court for approval, something we were told was expected to happen in Q1.

If its not, then it will I think be a progress review with a decision on whether or not to grant a further extension. That worries me because, tbh, its clear Vast has no money, isn't paying staff, and doesn't have the right to mine at BP currently. Unless it can clearly demonstrate that the RTO/Placing here will put it back on its feet and allow a clear plan to pay creditors, I struggle to see how the Court would grant more time. And if they don't then VBP will go into bankruptcy and the Vast BS will get crucified.

So next Tuesday could be a fair indicator of how the whole RTO process is truthfully going.

Gana announced this today

https://www.londonstockexchange.com/news-article/GANA/gana-partners-with-onefootball/17561071

Still all conjecture for us, but Gana is certainly expanding its video reach in football ahead of the world cup

I checked the Wayback machine, and these vacancies have been on the site since at least September 2024.

So they aren't new I'm afraid.

Don’t know if anyone noticed, but we had a bidder wanting 10m shares in the auction just now.

They came in offering to pay 0.058 but got no takers, so lifted to 0.059 and still got no takers.

It’s rare to get any auction interest here, let alone for that size. Suggests we have strong background buyer support.

And equally, there’s plenty of liquidity currently for anyone wanting to hit the bid. They just aren’t. So feels like after a period of consolidation we have a stickier base of holders.

So Pubx just announced a new appointment of President - North America, to support their "rapid global expansion"

https://www.linkedin.com/posts/pubxai_northamerica-agenticai-pubtech-activity-7452746904674709504-L6aE?utm_source=share&utm_medium=member_desktop&rcm=ACoAAEuI5eIBooawepY_Ubn_CKcFOzTXAaBN1HA

And she is certainly up for the job

https://www.linkedin.com/posts/johannabergqvist_a-toddler-called-charlie-biting-his-brothers-ugcPost-7452754197503959040-SsF7?utm_source=share&utm_medium=member_desktop&rcm=ACoAAEuI5eIBooawepY_Ubn_CKcFOzTXAaBN1HA

I love this bit -

"The advertising industry has long accepted an imbalance: Advertisers get sophisticated AI powered tools inside walled gardens, while publishers outside them are left behind. Ad dollars follow the tooling, not the audiences and independent publishing and journalism pay the price. Over that time, Ad tech has become a value extraction instead of value addition.

pubX is changing that. We've launched the first end to end agentic advertising marketplace, where AI-powered buying and selling agents negotiate directly to create deals traditional programmatic cannot match.

→ For publishers: real representation. First-party data and CONTEXTUAL INTELLIGENCE go straight to buyers. No signal loss. Full transparency. Human in the loop approval on every deal.

I cannot believe that CIQ is not providing this contextual intelligence given Mole has been the Director of the company that owns that IP for the last 2 years, and has confirmed Pubx is partnered wit.h it.

I've said it before but Pubx is going places. Its has truly expanded massively over the last 6 months and is clearly still going with this appointment and, from what she says, further US expansion.

And this is all just in time for the major industry event that Pubx has partnered with next week - POSSIBLE 2026.

I can smell announcements.....!!

Good point. Likely BS insolvent and cash flow insolvent at the moment.

Beyond the conjecture there’s a simple point.

We could get significant commercial news imminently on CIQ, Yentra, or both.

We’ve had the churn and persistent low price rejection, so price has a strong base to spike from on news.

And if the point is to get warrants in play we’re looking at sustained 0.12.

And if we can get to 0.15 then charts show us there’s almost no resistance all the way up to 0.75. Might sound ridiculous or rampy, but that is the potential here.

For my money, the risk reward here is significantly skewed to the upside. But each to their own.

All eyes on CIQ at the mo, but here’s a strong possibility for Yentra.

A few weeks ago TTRO launched Red Horizon - https://connect.ttro.com/RedHorizon/

It’s a metaverse-based strategic simulation where leadership teams make decisions in real-time scenarios, which are then EVALUATED by an “AI Chairman” to create a bespoke, real time and evolving learning environment.

Publicly, the structure appears to be:

1) UBU is the company providing the metaverse / simulation environment. The VR platform if you like.

2) TTRO provides the scenario designs and leadership training framework. The data and educational insight.

But what isn’t clear is who is providing the AI evaluation layer (“AI Chairman”), which is not clearly attributed anywhere as far as I can see.

8 months ago we announced a partnership between TTRO and Yentra.AI focused on sovereign, agentic AI for enterprise training and adaptive learning systems. So there is a very clear overlap and so I think it is, at the very least, plausible that Yentra could have designed and implemented the critical AI decisioning/evaluation layer for Red Horizon, particularly for scoring decisions and adaptive feedback within simulations.

Of course, we might actually have nothing to do with it! But if that’s the case then what have we been doing with TTRO for the last 8 months, why did DH tweet in Feb that a Yentra update would be coming soon, and why has the Yentra site been updated to say it’s “CURRENTLY IMPLEMENTING groundbreaking sustainable sovereign AI initiatives.”

And then there is the fact that the Director of Leadership at TTRO (a South African based company) is one Julie RAUTENBACH. Coincidence or relative of our very own, South African, Ignatius Rautenbach?

https://www.linkedin.com/posts/julie-rautenbach-a2055821_futureoflearning-executiveeducation-leadershipinnovation-activity-7452288237387124736-2s6q?utm_source=share&utm_medium=member_desktop&rcm=ACoAAEuI5eIBooawepY_Ubn_CKcFOzTXAaBN1HA

And lastly, I’ve noted on here before that Natie routinely tags both the CEO of TTRO and the CEO of the Edlatam Alliance (and now Co-Chair of the Global Alliance of Alliances) in his many LinkedIn posts about Evolve. Doesn’t take much to see how any involvement with Red Horizon could move across to other educational ecosystems. Our Sept 25 RNS did say, after all, that “ This partnership blends Yentra's commercial technology expertise with TTRO's training, academic and educational depth. Beyond initial deployment, the collaboration envisions long-term implementation and development of real-world AI applications for business, creating a BLUEPRINT for scalable, ethical, and impactful AI solutions.”

All just conjecture, but interesting nonetheless

Without wanting to speak too soon (!) maybe the book has properly settled after some healthy consolidation and persistent price rejection from buyers?

Plenty of liquidity above quoted bid available for the last couple of hours but no takers, and even the drop this morning was nowhere near the cliff edge we saw yesterday which suggests stronger background bid support.

An then there was the sizeable £10k buy at full Ask just before the morning auction.

Getting the feeling tides may have turned a little.

God knows City. Suspect short term trader(s) waiting for the news and impatient when it doesn't come.

The important thing is that it keeps getting bought back up.