Hold the Boxing Day leftovers Dinner! I have the result of this year’s ShareProphets Red Flags at Night Christmas Sweepstakes – the question was how many dodgy company announcements would be offered up to the market on the no-one-is-watching day of Christmas Eve and this year’s competition was a nail-biter. Worse still, I nearly won – which would never do. We had predictions ranging from as low as 2 (although to be fair it was dripping in cynicism on the grounds that RNS is so “old hat”) from Jules2k6 up to 24 from BlueFrewExile. Here is my summary.
I have an update on the Union Jack (UJO) placing which I forced it to ‘fess up to last Friday and I can now reveal that worthless ramp Wildcat Petroleum (WCAT) is now seeking fresh equity at almost any price. At 1p, a £21 million market cap is about £21 million too high in my book. I also discuss Jubilee Metals (JLP) and Mark Slater and that links nicely to an IPO I am dodging and I explain why I am passing on what appeared a likeable and competent team. Finally, a detailed look at perennial dog Mirriad (MIRI) whose shares are – despite slipping 10% today – still a stonking sell.
Previously writing on Mirriad Advertising (MIRI), in July despite the shares slumping to 34p I concluded the valuation looked to remain plain daft; strong bargepole / sell. The company has today announced results for the first half of 2021 headlined “New deals, significant inventory and record US commercial activity drive adoption”. Having last closed at 32.5p, the shares are now below 30p – so what’s the story?…
Self-styled “leading in-content advertising company” Mirriad Advertising (MIRI) has made a half-year trading update including “we are effectively delivering our twin-track strategy by developing a robust global supply and demand pipeline to drive global adoption, while simultaneously moving the platform towards full integration with the media buying and ad delivery ecosystem… Total revenue increased by 27%… Closing cash at the end of June 2021 of £29.8m (June 2020: £14.4m)”. So why are the shares currently 34p, more than 19% lower in response?…
Well not really and it was a long time ago. But it comes up when I discuss NightCap (NGHT) and why the numbers are all bonkers and it will end in tears. Then I look at Mirriad (MIRI) and ADVFN (AFN) parallels. Finally Amigo (AMGO) where the directors make threats that would be ruinous for them personally if they implement them. As ever, if you are bored, why not donate to a wonderful cause HERE.
Mirriad Advertising (MIRI) Chairman John Pearson is, “despite the disrupting influence of the COVID-19 pandemic… delighted with the progress that has been made”. Why then on the back of the results statement are the shares currently, at 50.5p, more than 11% lower? Because the valuation for this cash guzzling dog is bonkers. That is why!
On 8th January 2021, the fraud Zoetic International (ZOE) announced that its shares had started trading on the US OTC market, OTCQX and the shares jumped by 10% on the news. For the big lie being pushed by shameless promoters of frauds and other penny dreadfuls listed in the UK is that such a listing will put a rocket under the shares.
I start with a few words on my preparations for tomorrow’s funeral which will mean my absence from this site for a day. Then onto the election in America where our boy is on a bit of a roll - a full analysis of recent developments is in a special podcast HERE. Then it is on to Verditek (VDTK), Versarien (VRS), Covid shorts and longs including, sorry Three Brains, Carnival (CCL). Finally a look at grossly overvalued Mirriad (MIRI).
I start with more on the issue of sound quality and an explanation as to re-recording yesterday and other issues. I hope we do better today. Then I look at Eurasia Mining (EUA), Mirriad Advertising (MIRI), Hurricane Energy (HUR), Sound Energy (SOU) and Verditek (VDTK).
I recently wrote on Mirriad Advertising (MIRI) “Executive LTIP award”… Er, what for?!. The “computer vision and AI platform company” - which argues its “award-winning solution unleashes new revenue for content producers and distributors by creating new advertising inventory in content” - has now produced its 2019 annual report and accounts...
I earlier argued a “Proposed Share Option Regrant” disgrace from Corero Network Security and also now note from Mirriad Advertising (MIRI) “Executive LTIP award, Director and PDMR dealings”...
I think Mark did the right thing at the Future (FUTR) AGM but do not know as my friend might be a former friend as he does not seem to be speaking to me. I cannot think why. I discuss this and what next for Future. I announce a 4th Rogue Blogger for Woodlarks and as we hit 2% of target beg you to sponsor us HERE. I discuss the strange lack of news from the stricken Gervais Williams Smaller Companies Fund and what it means then look at Eurasia (EUA) en passant, Miriad (MIRI) in some detail and the horrible problem poor Bobbie Hilliam of Quindell (QPP) infamy faces with Versarien (VRS) after today's shocking expose.
I start with a few words on The Guardian's obituary of Uncle Chris. I look at the deliberate spoof and placing at Mirriad (MIRI) answer your questions on Kefi (KEFI) look at the NEX lobster pot with its new owners and finally return to Anglo African Oil & Gas (AAOG) where a statement about THIS is needed ASAP
In the first half of this podcast as I look at UK Oil & Gas (UKOG), Angus Energy (ANGS), Brockham, Horse Hill and the Weald Basin ramp I am joined by comrade Brokerman Dan. Then, alone, I look at Woodford Patient Captal Trust (WPCT) including the key missing info in today's bullshit RNS, Costain (COST), Versarien (VRS) and Mirriad (MIRI).
Ahead of lunch with a scouser I encounter someone just out of prison. There you go, life here in the Grim North. I urge you all to follow the lead of Saintly Tech Queen Vin Murria HERE.Greedy AIM bosses screwing shareholders infuriate me and in that vein I cover: Mirriad (MIRI), EVR Holdings (EVRH) and Argo Blockchain (ARB). I also look at FinnCap (FCAP) where the dam is breaking, Share PLC (SHRE), Frontier Smart Technologies (FST) and Audioboom (BOOM).
You have been warned so many times by myself about the uber dog Mirriad (MIRI) which listed on the AIM casino at 62p per share in December 2017. The shares are now 6.25p so shame on Nomad and broker Numis for this hound. Today we have calendar 2018 results and a warning that it needs a bailout placing within a year. I should cocoa.
Fully-listed IP Group (IPO) is an investment company which throws money at early-stage companies. At the last count (28 Feb 2019) Woodford’s Equity Income Fund (EIF) was 3% invested. The remit sounds fairly close to that of WPCT – and many companies are indeed the same, as pointed out in previous ShareProphets articles.
Look I am serious. Start donating to Rogue Bloggers for Woodlarks HERE or I will show a photo of Dan Levi's underpants after his latest training walk which caused sores in places you do not want to think about. On the markets I look at Goals Soccer Centres (GOAL), UK Oil & Gas (UKOG), Mirriad (MIRI), Debenhams (DEB), Optibiotix (OPTI), and Online Blockchain (OBC).
In today's bearcast I discuss I3 Energy (I3E), Redde (REDD) and hapless Neil Woodford, Concepta (CPT), Optibiotix (OPTI), Yourgene (YGEN), Big Sofa (BST), Mirriad (MIRI) and Mothercare (MTC). If you enjoyed this, less than PC, bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
Forgive the title. It is the new song by my pal Dominic Frisby which you can see below. It covers Brexit and is, I think, rather funny, no: it is pure genius. In my podcast, I look at Red Emperor (RMP) and the other Winx plays, Mirriad (MIRI), FinnCrap (FCAP), Akers Biosciences (AKR), Independent Oil & Gas (IOG) Nautilus Marine (NAUT), a real dog, and finally I have a hot deeply discounted placing rumour on I3 Energy (I3E). If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
I cover WH Ireland (WHI) and the crisis engulfing the small cap world in a serperate bearcast HERE but touch on its downfall in the main bearcast. I look at Mirriad (MIRI) which needs to fess up as to how much cash has not yet been spunked, Rose Petroleum (ROSE) and insolvent Cabot (CAB) and the panic sells created by the demise of City Financial Investments, the bid for Independent Oil & Gas (IOG) and at Debenhams (DEB) where the worst is yet to come. If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
In today's podcast I look again at yellow journalism re Woodford Patient Capital Trust (WPCT) as covered HERE and the MySquar (MYSQ) fraud. The corrupt deadwood press is part of the problem not the solution. I cover the latest news from MySquar in case I don't have time for a dedicated article. Today is a Joshua day but I hope to write as he takes a nap. I also look at Mirriad (MIRI), Mosman Oil & Gas (MSMN) anmd Haydale Graphene (HAYD) whose news today means that Nigel Somerville will have enjoyed ouzo on his breakflast cornflakes.
Cynical Bear warned you that the 62p per share, £63 million, IPO of Mirriad Advertising (MIRI) would cause tears before bedtime. Obviously not for IP Group (IPO) which was able to justify its daft pre IPO investments in relation to that crackers listing price. Nor for Nomad and broker Numis or PR parasites Hudson Sandler which will have earned fat fees for the listing. Coke and hookers all round for the crony capitalists. But for anyone dumb enough to buy the stock since the IPO this has been a horror show. The shares are now just 30p mid, they have more than halved in ten months on the AIM Casino. So what’s today’s news? It is bad, natch.
The dossier is now submitted. More on that later if Joshua has a nap. Pro tem I look at Pantheon Resources (PANR), Mirriad Advertising (MIRI), Ascent (AST), Vela (VELA) and why capitalism sometimes stinks - and at Greggs (GRG)
Just before last Christmas, I compared and contrasted two new AIM IPOs that both came to market at just over 60p in the broad “adtech” space. An IP Group-backed dog, Mirriad Advertising (MIRI) and what I though was an interesting play at a low valuation, Pelatro (PTRO).
Oh dear it is another bad day at the office for Neil Woodford. First up I answer the question posed by Cynical about the great man HERE. Then I look at the disasters one of which told a monstrous lie in its RNS today: Mereo BioPharma (MPH), Mirriad (MIRI) and Hvivo (DOG). Then I look at Concepta (CPT), shares in which we own, Nighthawk (HAWK) and its dead cat bounce and finally at uber ramp Sound Energy (SOU) and what a CPR based on 2D seismic really means, i.e. Jack shit.
I am really warming to analyst Anne Stevenson-Yang of JCap whose latest note on Neil Woodfords pals at IP Group (IPO) "Some Companies deserve to die" is a stormer. And she cites the great work done by Shareprophet (sic) in her report.
An interesting compare and contrast for me today looking at the two technology businesses that joined AIM yesterday at a very similar share price. That is where the similarities end though as one is a classic example of an overvalued business bid up by participants in the valuation echo chamber and one looks like that rare mythological beast – a Cynical Bear Buy tip. Let’s start with Mirriad Advertising (MIRI), the massive Sell pick.