GOHE: New contract worth hundreds of thousands initially and approach $1 million down the road MIMV: Announced Facebook apps. This is the critical developmental Q for MIMV and we still maintain it is the next takeover candidate n mobile search. As the only publicly traded pure play, it is a must-own.
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GLOBAL PAYOUT, INC.
Major Contract Win Is Just the Tip of the Iceberg
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Rob Goldman May 9, 2012
[email protected]
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GLOBAL PAYOUT, INC. (OTC:PK – GOHE - $0.09)
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Price Target: $0.16
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Rating: Speculative Buy
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COMPANY SNAPSHOT
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INVESTMENT HIGHLIGHTS
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Global Payout, Inc. is a payment solutions provider offering U.S. and international companies’ electronic payment and pre-paid debit card solutions. Through its processors and solution providers Global Payout offers an innovative and unique international payment platform allowing accountholders to move money to personal bank accounts in over 200 countries. In addition, the Company provides U.S. and international debit cards, enabling accountholders without bank accounts to access funds worldwide. As a program manager and reseller, Global Payout also offers prepaid debit cards in the U.S. for payroll and general spend programs.
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The News:
Early this morning, Global Payout announced a major contract win. The Company has executed a Prepaid Card Agreement with iGlobal Worldwide, Inc. to offer complete management consultant services in launching its prepaid debit card program. The agreement includes Global Payout partner Tyburn Group, Inc., as Program Manager for their new “iGlobal” debit card program. Plus, Global Payout will manage the due diligence, card design and card program approval in conjunction with Tyburn Group, Inc. and the issuing bank. This Agreement will result in monthly transaction revenue from active prepaid debit cards marketed and distributed by iGlobal commencing in in 3Q12. iGlobal anticipates 10,000 active cards within the first 12 months ramping up significantly during the 24 months following the initial sign-up period
Key Takeaways:
This is the first announced deal for the Company’s new all-encompassing consulting services and is significant due to the fact that it is a domestic contract. Moreover, based on the numbers in the press release this contract is likely worth hundreds of thousands of dollars in the first 12 months and, depending on sign-up rates could ultimately approach $1M in revenue. That is huge for a company projected to generate around $1M in total revenue for all of 2012.
This is likely the first of several new contracts we believe are in the offing this year and we also expect to see traction with GOHE’s international initiatives soon as well. The stock has performed well since our initiation of coverage 10 days ago and we would not be surprised to see the stock trade to the $0.12 in the near term as additional volume comes into the stock. |
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KEY STATISTICS
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Price as of 5/8/10
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$0.09
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52 Wk High – Low
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$0.25 – 0.0264
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Est. Shares Outstanding
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83.4M
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Market Capitalization
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$7.5M
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3 Mo Avg Vol
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38,400
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Exchange
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OTC:PK
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COMPANY INFORMATION
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MIMVI, Inc.
Mimvi Emerges As Next Takeover Target
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Rob Goldman May 9, 2012
[email protected]
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MIMVI, INC. (OTC:QB – MIMV - $0.51)
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Price Target: $1.50
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Rating: Speculative Buy
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COMPANY SNAPSHOT
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INVESTMENT HIGHLIGHTS
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Headquartered in Sunnyvale, California, Mimvi, Inc. is a pure-play Mobile Apps and Mobile Content search and recommendation technology company. Using its proprietary search and intelligent recommendation algorithms, Mimvi's powerful search engine provides an industry-leading 6 million searchable results for Mobile Apps and Web Apps and has indexed more than 1.2 million Mobile Apps. Mimvi's search engine is used across multiple mobile devices and platforms, including: Apple's iPhone, RIM's BlackBerry, Google's Android, and Web Apps. Services for iPad, Windows Mobile platform and Samsung are in the Company's pipeline.
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The News:
The Company just announced that has announced the expansion of its search offerings to include social networking apps. This initiative initially features Facebook apps and will be rolled out over time to encompass other social networks.
Key Takeaways:
We view this quarter as a defining moment for Mimvi developmentally and expect additional news as a result which will help add liquidity and boost the shares. We maintain that Mimvi is the next likely takeover candidate in mobile app search, following the Apple (NASDAQ – AAPL) deal that acquired Chomp, Inc., Mimvi’s primary competitor in the mobile app search engine arena. Investors would be wise to accumulate shares in the only publicly-traded pure play Mobile App search firm, ahead of what we believe is a likely 2012 transaction.
If we were to apply the same $50M valuation to Mimvi as Apple used for Chomp, Mimvi would be assessed a valuation of $1.20 per share.
We reiterate our Speculative Buy rating.
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KEY STATISTICS
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Price as of 5/8/10
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$0.51
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52 Wk High – Low
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$0.04 – 0.75
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Est. Shares Outstanding
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41.6M
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Market Capitalization
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$21.2M
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3 Mo Avg Vol
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10,000
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Exchange
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OTC:QB
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COMPANY INFORMATION
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Analyst: Robert Goldman
Rob Goldman 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 the Company in the amount of $12,000 for a research subscription service. 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 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.
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