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Drop was way overdone. They don't recognise the back office revenues until deployment and the deployment occurred yesterday - all that has happened was that revenue recognition moved from a few days before year close to a few days after - 2016 is now finished. It is very good news that all four networks deployed rather than two so now they will be rolling out across 3.5million households and around 5million boxes plus the OTT solution on top. 2016 numbers were not important - what was important was roll out. 2017 will look completely different and we are already in Mirada's 2017 year. This will recover as the full commercial push from Televisa happens and the market sees progress of the boxes and realises the company not only needs no funding but is cashflow positive

Well I convinced myself with my post and took a decent size position today. 5% dividend and it looks now to have momentum so I could see this gaining a third or more over the next few months, especially if first half figures show the numbers I believe they should.

Posted this on iii - thought it may also be interested here. Not holding at the moment but considering it... The cash outflow is all driven by an increase and receivables and decrease in payables - assuming the receivables are of good quality - and there is no reason to assume otherwise - then normalised cashflow was zero. I always look at net current assets minus long term debt - this has remained stable year on year so basically in 2015 the company generated enough to pay the £1.8million in dividends. Adjusting for the one off restructuring costs and it effectively means the business generated in excess of £4million at a working capital level which is not so bad. Assuming the costs are one off and it drives some savings then normalised cash generation should be in excess of £5million in 2016. So there does look to be upside - dividend is comfortably covered plus as the 2015 receivables/payables convert into cash and assuming similar performance this year net debt will significantly reduce. PBS looks to be on fire and I think worth considerably more than the market cap of the business. Hopefully the restructuring and new products mean in 2016 and beyond, the rest of the business is not a drag even in the current tough trading conditions.

Thelagerkhan - I'm not in the UK and end up paying quite a few fixed costs for AIM transactions so it doesn't make sense for me to make smaller trades - even 80k is slightly below the limit I usually look at. I've cancelled for now - might have another go if further time ticks by.

I put an order in for 100k on Friday that never got executed so I cancelled in case an announcement was released on Monday. I've now put in an order of 80k which again seems to be going nowhere. Not long to go now until the significant news should be released - given the OTT was released I see very little risk of further delay as the OTT is a complementary product. My thoughts were always that deployment would take place over the last weekend of March as the company indicated the boxes would start being rolled out in April. Hopefully the deployment announcment can be released in conjuction with a pre-trade closing update that indicates revenue of £7m+ has been reached, together with a profit and that forecasts for next year remain on track. This could then move very quickly, hence my additional order which is more intended to be a short term trade rather than added to more longer term holding.

Interesting to see Mirada have hired financial PR agency Newgate to increase its presence. I think this is a very good move and hope this can put more of what Mirada does and potentially its financial forecasts more into the spotlight. http://www.gorkana.com/2016/02/mirafa-hands-financial-pr-brief-to-newgate/ The only slight disappointment is that after may various posts here that seem to have been well received I was not invited to tender. Never mind :o)

Great news this morning, I wasn't expecting the OTT rollouts to begin until next financial year. Hopefully the share price can now move away from the 4p area and enjoy a steady rise up over the next few months as newsflow and cash generation continues.

Thanks JS although I should warn you I'm sat on a 50% loss here so be careful!! However the video was very reassuring - the CEO was very relaxed and confident. Televisa is a complete step change and roll out will occur very soon. Significant confidence around next year (starting 1st April 2016) due to work already in the pipeline and next years forecasts are for £1.8million profit - a growth company could comfortably command a PE of 15 which would be a share price of 20p, although I think a discount due to the reliance on one contract is also realistic - still a PE of 10 still comes back at 13p. All that is needed now is delivery - remove the uncertainty about the contract and remove the uncertainty about future cash needs. That could all occur over the next few months - by next half year trading statement. Any more contracts then become a bonus and give revenue diversification and increased transparency on sustainable earnings.

Its a very clear presentation - I see revenue expectations in line with the my own forecasts at $25-30million over the next few years of the contract.

In addition to my previous post the breakdown of pay TV subscriptions by subscriber is now available... http://www.digitaltvnews.net/?p=27030&utm_content=bufferd507f&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer The fastest growing establish network is Cablevision Monterrey, the network that Mirada sofware is being rolled out to - it grew in Q3 alone by 12%, adding 57k subscribers.

Firstly thanks for the kind feedback on the post I made in response to Paul Scott's commentary. The latest figures on Telecommunications including pay TV were published in Mexico yesterday and pay TV continues to do well. An additional 400k pay TV subscribers were added in Q3 taking it to 17.4million subcribers on both satellite and cable. Cable is slightly losing market share to satellite however it is still growing in terms of numbers of subscribers. Televisa cable TV across its 5 different brands that it currently operates gained market share in cable TV and holds 22.7% of the total pay TV market, about 3.9million subscribers - this is who Mirada's technology will be rolled out to over the next few years - so as I've said before between 6 and 7 million boxes. Q4 could be interesting as Mexico switched its analogue signal off in December so some people may have opted to take pay TV as part of the switch. Again to re-iterate what I've said - taking the low end figure for number of boxes and an amount per box of $3 then that is revenue of $18million. Taking the higher end figure together with the forecast growth of Mexico pay TV over the next few years, together with a slightly higher figure per box and revenue is $25million. Add on to that the OTT deal with expected revenues of in excess of $5million - this was based on usage of one third of the installed pay TV base. In the UK Sky is seeing OTT usage in excess of 50% of the installed base so it could well be that the $5million also proves to be conservative. So taking both together that brings a low end contract value of $23million up to high end range of well in excess of $30million in licence fees that is virtually 100% margin - on top of that are support and maintenance fees together with the possibility of more professional service fees if Televisa want additional enhancements.

The CEO updated at one of the presentations was an individual who owned a Media company that Mirada did some work for and when he subsequently sold the company for many many millions he became a major shareholder in Mirada as he was so impressed with the work they had done. Strange about the holdings - like you say the one in 2014 showed 29.5% of the company which was 33.64million shares. Now the website shows a 22.14% holding which with new shares in issue is 30.79million so some disposals seem to have taken place. I think a holdings RNS is only required when selling has stopped - volume remains high so it is possible continuing sales are taking place.

Bruce - while it is technically still in the free float number, the 29.9% held by Chase Nominees is actually a single long term shareholder so the actual free float is much lower than the technical free float.

Yet despite a lot of volume and supposed buys the price continues to drift - it seems there remains one of more sellers so the MMs have no pressure in meeting demand for shares. Its certainly disappointing to see the SP continue to falter. I still very much buy the story here but sentiment is against it currently and it will take a significant change in sentiment and rise to move this back towards my breakeven of just under 10p - an almost 200% increase now. Forecasts for 2017 are for £1.8million profit which certainly justify a double figure share price, but unfortunately it seems the market currently has little expectation this will be delivered. Hopefully news in the next 2 months of Televisa roll out can change the direction.

You've lost me there Jolly

29.9% is held by Chase nominees which is a single holder - Mirada did some work from his company which he then sold and subsequently bought a large stake in Mirada.

Very disappointing that they are paying 25% on the loan notes having specifically stated the placing mid year was to pay the loan notes.

It was a loss - average price was about 52p, however considering where it got it wasn't so bad. I usually look at my portfolio an an annual basis, so it was overall a gain last year so I was happy enough. I've got form for this - I held Parkmead group for a couple of years and it never moved from about 1.5p - I sold and 3 days later Tom Cross was announced as CEO and it increased to 40p over the next few months! C'est la vie.

I intend to - wasn't overly pleased about the direct to consumer model, however all the connections to Mears, qualty of the board appointments and quality and size of the instituitonal holdings make this very interesting so I certainly wish to re-enter on any pullback. As the share price had stabilised I had thought I may well be able to sell and get back in cheaper a bit further down the line! Pleased for you all though.

And unfortunately I wasn't onboard - I needed to raise a bit of cash on 30th December to make my max additional pension contribution to be tax efficient and picked my Totally shares to sell as they seemed to have stabilised - intention was to buy back in sometime Q1! In the words of Homer Simpson - d'oh!