I have a feeling Lady M is going to me Lynn Minmay. They mention Megaroad-01 in Delta and communication with Lady M. I was watching Flashback 2012 and I noticed her packing bags and her luggage had LM. Now I know that her name is Lynn Minmay and therefore her initials are LM. I know everyone is throwing out any female character with a M in their name, Misa , Milia, Mylene, etc., but who else knows more about the Minmay Attack and music than Lynn. It only makes sense.