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Results: MIRA

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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?

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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