Mirriad Advertising warns of imminent collapse as funding search fails

The AIM-listed virtual product placement company says it may have to enter administration or liquidation in the near term after failing to secure fresh capital Mirriad Advertising PLC (AIM:MIRI, FRA:8WQ, OTCQX:MMDDF), the virtual in-content advertising technology company, has warned it may be forced into administration or liquidation after efforts to secure emergency funding failed, sending shares down as much as 50% in early trading. The company said trading conditions deteriorated sharply following the escalation of geopolitical tensions in the Middle East, particularly conflict involving Iran, which hit its key regional market during what should have been its busiest seasonal period.