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Mirada – interims, “a leading provider” for digital TV operators and broadcasters. Really?

Describing itself as “a leading provider of integrated software and solutions for Digital TV operators and broadcasters”, Mirada (MIRA) has announced results for its half-year ended 30th September 2022 including stating that it “has continued to build on the momentum established in FY22, capitalising on emerging trends and consolidating the widely recognised quality of our products by further embedding our technology within existing customers and expanding our customer base”. So why the release on a ‘no one watching o’clock’ day then?

NEWSFLOW

Mirada (#MIRA) – H1 loss $1.1m, net debt $7.3m

NEWSFLOW

Mirada (#MIRA) – sells payment solutions provider business Mirada Connect for £2.1m

NEWSFLOW

Mirada (#MIRA) – £3m equity raise and £3m loan capitalisation at 1p

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Mirada (#MIRA) – proposed debt for equity swap

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Mirada – “confident” expected revenues from contracts to see all debts satisfied as they fall due… so what price a loan facility?

Previously writing on digital tv technology company Mirada (MIRA) in December I noted net debt of $7.6 million and that some improvement is going to be needed to turn around the balance sheet. The company has now announced that it “has entered into a secured one-year loan facility for up to £3 million... The directors are confident that as a result of its pipeline of potential new customer contracts and the expected revenues from its recently won contracts now being implemented, the company's cashflow position will improve and it will be able to satisfy all debts as they fall due”. Hmmm…

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Mirada – “pleased to present the group's interim financial results”. Hmmm…

In October I questioned on Mirada (MIRA) shares soar on contract win, but what about that financing needed? Today its CEO Jose Luis Vazquez is “pleased to present the group's interim financial results for the six months ended 30 September 2017”. Hmmm…

NEWSFLOW

Mirada (#MIRA) – up to £1.7m convertible (at 1.12p) bailout funding (15% interest on funds drawn)

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Mirada – shares soar on contract win, but what about that financing needed?

Shares in Mirada (MIRA) are currently soaring from just above 1p on the back of a “New Contract Win” announcement. Hang on though, isn’t there currently financing needs by this company?...

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Mirada – argues it is interest in its new OPEX model which leads it to seek new financing. Really?!?

On the back of a “New Contract Win” announcement, shares in Mirada (MIRA) are recovering having been heading towards 1p following a trading update earlier this month…