UK 16:17 Monday, 26 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Okay the writing was on the wall. Young Steve and I have been bears of Mirriad (MIRI) since the 65p listing many moons ago. And last week came a statement so brutal that Stevie Wonder could see the writing on the wall. But still there was one final kick in the gonads.
Last month Mirriad Advertising (MIRI) stated that “as at 27 March 2026, the company had cash and cash equivalents of c. £675k… it is anticipated that the company will be required to secure further funding prior to the publication of its annual report and accounts for the year ended 31 December 2025”. However it commenced this year emphasising “expectations are for a significantly stronger sales performance in 2026”, so what about now a ‘Corporate Update’ announcement including that it has “been exploring a range of funding options; however, to date no binding funding has been secured”?!
Describing itself as “a leading provider of virtual product placement”, Mirriad Advertising (MIRI) has issued a “Trading Update” including that it “is pleased to announce that during the quarter it entered into a services agreement with one of the UK’s largest media conglomerates. Under the terms of the agreement, Mirriad will provide the company with its VPP solution and try to help them scale incremental revenue through utilizing Mirriad’s VPP solution” and “costs continue to be carefully managed”. So what about a current 0.00275p share price, 50% down?
Describing itself as “a leading provider of virtual product placement”, Mirriad Advertising (MIRI) has issued a trading update including that “subject to completion of the audit, Mirriad’s revenue for 2025 is expected to total just over £0.4m… The company continues to work closely with its key partners, including Rembrand, and expectations are for a significantly stronger sales performance in 2026”. What about this from a most recent close 0.0075p share price?
Describing itself as “a leading provider of virtual product placement”, Mirriad Advertising (MIRI) has issued a “Trading Update” including “the vast majority of revenue in H2 to date has been derived from ROW outside of the US. Cash at 30 November 2025 was approximately £1m and the company anticipates receiving a tax credit of c. £350k shortly. As announced in the interim results, the company’s cost base has been significantly reduced and is currently approximately £220k per month”. Hmmm – “a leading provider of virtual product placement”, hey?
Actually it might be more thanks to the worthless confetti being offered at just 0.01p. There is a WRAP retail offer underway which might take the total up by £200,000 to £1.7 million but even just on the Allenby placing and a £200,000 payment from a US company to join a reselling jv, Mirriad insists it can survive for another 12 months. Maybe. But maybe not - with the shares 99.9% down from the AIM IPO, this perma bear wins a bonus ouzo today..
The choice offered Irish Catholics by Oliver Cromwell was not a very good one: death or exile to the bleak and impoverished West of Ireland. Shareholders in Mirriad (MIRI) face a similar choice after an update today.
Founded in 2007 and floated in 2017 raising £23 million at 62p c/o Numis, Mirriad Advertising (MIRI) today warned that if it cannot refinance within a week it will go bust. That would leave £80 million sent to money heaven in 18 years, as a perma-bear right from the time of the IPO at 62p, I’m vindicated. Natch, management blame Donald Trump for the downfall.
Describing itself as “a leading in-content advertising company”, Mirriad Advertising (MIRI) has issued a trading update including “our operations in key European (excluding Middle East) markets have been growing steadily, achieving approximately 40% growth… The progress in these territories with highly engaged partners underscores the value of our solution and provides a blueprint for the success of our business” and announced an “Integrated advertising solution with BENlabs”. So what of a share price currently a further approaching 10% lower at 0.145p?
IPO’d at 65p in 2017, shares in Mirriad Advertising (MIRI) are today 1.3p having managed to send more than £70 million of other folks cash to money heaven in its inglorious career. Today comes a bailout placing £6.1 million at just 1.25p which, it is claimed, will drive the company to the sunlit uplands: “This successful placing means we can move forward from our build phase, towards true scale with confidence”. Bollocks, the real reason is about audit sign off on 2023 accounts.
