Mimvi, Inc. (OTCMKTS:MIMV): Will It Bounce Off Rock Bottom
After three days of rest, Mimvi, Inc. (OTCMKTS:MIMV) is gathering all eyeballs with a recent financial report. The company has been rolling downhill in the past months and starts to create conditions for valley-buying. 
The success of MIMV in May is small, and the four promotional emails with a budget of $12,500 was not enough to stop the slide. In the past, MIMV was promoted briefly in December, then again in January and April. But those reminders caused disproportionate climbs, followed by slides. Press releases also served as reminders, but that did little to prevent the stock falling from 42 cents to 12 cents. 
MIMV has a major weakness in that it offers a search engine for apps, and the technology is not original enough- Yahoo! has a similar service yielding almost identical results. Still, noise and emails may repair this glitch, at least in the short term.
The newest financial results are still awaiting to impact investor sentiment. The first quarter ended with:
- $15,000 revenues
- $2.1 million net loss
- $63,000 cash
- $1.3 million total current liabilities
MIMV is losing a bit less than the last quarter of 2012, when quarterly loss was $3.4 million. But on a yearly basis, the losses have been deepening year after year. Net loss for 2012 is $5.5 million, with $4.1 million for 2011.
But any financial or business success in personalized online searches will be eclipsed by short-term stock movements. It is still unknown if MIMV will push off on the new promotion or will continue the slide to become a sub-penny ticker. With 200,000 shares traded early on Tuesday, interest may be above average and cause a more lively change in price than we have seen in the past months.
The latest email for MIMV is from May 7th, which coincided with net selling for the day. The pumper this time was Information Solutions Group, LLC, funded by Ignite Media. The latter seems to be an entity especially created to boost MIMV interest and perhaps prices. Information Solutions Group has a longer history of past promotions. So far, Ignite Media has not created a stable trend, and most selected tickers show weakness even on the day of the pump, such as Wherever TV Broadcasting Corp. (OTCMKTS:TVTV).
In the case of MIMV, if you still believe it’s worth your attention, do your own research and decide independently if you can absorb the losses of a further slide.
