comparing the new Mimvi to the old Mimvi makes absolutely no sense at all.
This is now essentially a new Mimvi and having acquired Adaptive Media they are described as ... "an audience and content monetization company working with website owners, app developers and video content publishers to better optimize the serving of content and ads together."
We`re talking about a company that since it`s inception this past March [basically a start-up] has been generating revenue since day-one as evidenced by the $325,000 on their books in the form of account receivable at 7-2-13. Furthermore, they have signed four (4) partnership/client contracts with the last two (2) both indicating the potential to generate annual revenue in the amount of mid-six figures.
Hopefully, in time you`ll be able to see and acknowledge the difference I`m talking about.
Mr. Shareef has already addressed the issue of further financing which he indicated might very well happen if and when that time comes. Also, I`m sure you must be familiar with the upcoming and most welcome changes to private placements under Rule 506 of Regulation D, but just in case you don`t, here you go ...
Now that he can approach existing and former investors, rather than the other way around, he can pick and choose those that are more inclined to hold for the long-term as opposed to almost blindly having to settle for those more inclined to sell at the moment their holding period expires.
Also, he addressed the possibility of a reverse split by saying he would never do this from a position of weakness, but rather from a position of strength in order to be up-listed to a higher exchange or in the case of an accretive acquisition.
And one more thing ... whoever denied that a partnership with Microsoft ever existed just doesn`t know what they`re talking about.
Microsoft had to approve both public announcements regarding Mimvi`s partnership with them and after a rather lengthy chat with Mr. Frank`s I`m very much still inclined to believe he was being honest and truthful regarding his comments in various e-mails, the last of which I think was made in early May. After that, I believe rumors at Microsoft about the upcoming major reorganization started to run rampant ... and I`ll let Mr. Franks say what actually happened from his recent e-mail to me ...
"2. Mimvi has been working with Microsoft for over a year now but Microsoft employees are jumping ship and looking for other jobs. Mimvi has even hired ex-MS employees. Sean Harris who was our Bing point person left to go to Netflix. M is in trouble and they are having a hard time maintaining their own partner relationships because of this. Every MS partner knows this and everybody in Seattle knows this too."
And for those who might be curious, he also said ...
"1. Advanced SRT certainly does exist. The real question here is how well the new Mimvi management team moves it forward."
He also reminded me that he is still a major shareholder in Mimvi and definitely wants to see it succeed. In fact, he said he would be available to the new management team if ever called upon.
I would strongly suggest one should read all of the above before leveling false and misleading statements regarding the current state of affairs of the NEW Mimvi.
JMHO, of course.
GLTA Mimvi shareholders.
MIMV
ATTENTION MODERATORS: Please consider this post for a sticky note so there`s no mistake about what is actually transpiring with the new Mimvi.
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