MIMV: A Steal at Current Prices

Investment and Company Research
Opportunity Research
TRADING ALERT

As MIMV continues on the business development front, we believe that 2H13 will result in meaningful revenue driving the stock higher.

icon Download Report in PDF Or Scroll down to read the complete report below.

Click here to receive future alerts directly in your inbox

MIMVI, INC.
A Steal at Current Prices

Rob Goldman
[email protected]

Aaron Schweitzer
[email protected]
June 17, 2013
 
MIMVI, INC. (OTC:QB – MIMV - $0.0818)
Near Term Price Target: $0.25 Rating: Speculative Buy
 
COMPANY SNAPSHOT INVESTMENT HIGHLIGHTS

Headquartered in Sunnyvale, California, Mimvi, Inc. (MIMV) is a leading mobile search and discovery technology provider. Its proprietary search and "intelligent" recommendation algorithms enable the search and discovery of Mobile Apps, Mobile Content and Mobile Products across multiple devices and platforms, including: Apple's iPhone and iPad, Google Android, BlackBerry, Windows Phone, Facebook and web applications.

 
KEY STATISTICS
 
Price as of 6/14/13 $0.0818  
52 Wk High - Low $0.72 - 0.0705  
Est. Shares Outstanding 68.0M  
Market Capitalization $5.6M  
3 Mo Avg Vol 445,000  
Exchange: OTC:QB  
 
COMPANY INFORMATION

Mimvi, Inc.
440 N. Wolfe Street
Sunnyvale CA 94085
www.mimvi.com
IR: Gerald Kieft, The WSR Group
772.219.7525
[email protected]

Key Takeaways:

In our view, Mimvi is a screaming buy at current levels. When we last produced a research update on the Company in September 2012, the Company was trading at $0.27, and ran to $0.72 shortly thereafter, on the heels of an announced relationship with Microsoft (NASDAQ – MSFT).

An impatient stock market has allowed the stock to drift from a base in the $0.25 range for much of the year to a quick decline and new low on Friday. We believe that this drop was largely prompted by a misunderstanding on the Street regarding an upgraded change in auditor by the Company, thus creating a great trading opportunity as investors panicked since the stock broke below the $0.10 mark.

Since the Microsoft news, MIMV has been extremely active on the development and M&A front which bodes very well for 2H13. In fact, the Company’s App Search crossed the 50,000 downloads mark in its first three weeks in the Google Play store, placing Mimvi's app among the top 2-3% of apps achieving this level of success, according to Zurich, Switzerland-based AppBrain. Clearly, users are actively seeking a way to discover new apps, and Mimvi is helping them solve this problem.

At current levels the stock is trading at a market cap of $5.6M, which is less than half the value of the stock pre-Microsoft event. As MIMV continues on the business development front, we believe that 2H13 will result in meaningful revenue driving the stock higher. In the interim, investors should use the current opportunity to buy MIMV’s shares as we believe it could reach $0.25 again this summer.  We rate these shares Speculative Buy.

You Might Also Like

Senior Analyst: Robert Goldman

Rob Goldman founded Goldman Small Cap Research in 2009 and has over 20 years of investment and company research experience as a senior research analyst and as a portfolio and mutual fund manager. During his tenure as a sell side analyst, Rob was a senior member of Piper Jaffray's Technology and Communications teams. Prior to joining Piper, Rob led Josephthal & Co.'s Washington-based Emerging Growth Research Group. In addition to his sell-side experience Rob served as Chief Investment Officer of a boutique investment management firm and Blue and White Investment Management, where he managed Small Cap Growth portfolios and The Blue and White Fund.

Analyst Certification

I, Robert Goldman, hereby certify that the view expressed in this research report accurately reflect my personal views about the subject securities and issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the recommendations or views expressed in this research report.

Disclaimer

This Opportunity Research report was prepared for informational purposes only. Goldman Small Cap Research, (a division of Two Triangle Consulting Group, LLC) produces research via two formats: Goldman Select Research and Goldman Opportunity Research. The Select product reflects the Firm’s internally generated stock ideas while the Opportunity product reflects sponsored research reports. It is important to note that while we may track performance separately, we utilize the same coverage criteria in determining coverage of all stocks in both research formats. While stocks in the Opportunity format may have a higher risk profile, they typically offer greater upside as well. Goldman Small Cap Research has been compensated by a third party in the amount of $3,000 for due diligence, editing, and production of this report. The Firm does not accept any equity compensation. All information contained in this report was provided by the Company. Our analysts are responsible only to the public, and are paid in advance to eliminate pecuniary interests, retain editorial control, and ensure independence. Analysts are compensated on a per report basis and not on the basis of his/her recommendations.

The information used and statements of fact made have been obtained from sources considered reliable but we neither guarantee nor represent the completeness or accuracy. Goldman Small Cap Research did not make an independent investigation or inquiry as to the accuracy of any information provided by the Company, or other firms. Goldman Small Cap Research relied solely upon information provided by the Company through its filings, press releases, presentations, and through its own internal due diligence for accuracy and completeness. Such information and the opinions expressed are subject to change without notice. A Goldman Small Cap Research report or note is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed.

This report does not take into account the investment objectives, financial situation, or particular needs of any particular person. This report does not provide all information material to an investor’s decision about whether or not to make any investment. Any discussion of risks in this presentation is not a disclosure of all risks or a complete discussion of the risks mentioned. Neither Goldman Small Cap Research, nor its parent, is registered as a securities broker-dealer or an investment adviser with FINRA, the U.S. Securities and Exchange Commission or with any state securities regulatory authority.

ALL INFORMATION IN THIS REPORT IS PROVIDED “AS IS” WITHOUT WARRANTIES, EXPRESSED OR IMPLIED, OR REPRESENTATIONS OF ANY KIND. TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW, TWO TRIANGLE CONSULTING GROUP, LLC WILL NOT BE LIABLE FOR THE QUALITY, ACCURACY, COMPLETENESS, RELIABILITY OR TIMELINESS OF THIS INFORMATION, OR FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES THAT MAY ARISE OUT OF THE USE OF THIS INFORMATION BY YOU OR ANYONE ELSE (INCLUDING, BUT NOT LIMITED TO, LOST PROFITS, LOSS OF OPPORTUNITIES, TRADING LOSSES, AND DAMAGES THAT MAY RESULT FROM ANY INACCURACY OR INCOMPLETENESS OF THIS INFORMATION). TO THE FULLEST EXTENT PERMITTED BY LAW, TWO TRIANGLE CONSULTING GROUP, LLC WILL NOT BE LIABLE TO YOU OR ANYONE ELSE UNDER ANY TORT, CONTRACT, NEGLIGENCE, STRICT LIABILITY, PRODUCTS LIABILITY, OR OTHER THEORY WITH RESPECT TO THIS PRESENTATION OF INFORMATION.

For more information, visit our Disclaimer: www.goldmanresearch.com