Well either way it wont work. People wont pay for whatever his new gaming experience is, and the freemium model is a loser. This company is toast.
I think that hiring Don was a disaster. Yes, their business model had failed which is why online gambling had the potential to be their salvation. They were lucky in that they were in the right place at the right time, with a popular poker game and large built in user base. Whatever it would have cost to get the license, it would have been worth it. Now they have hired someone who wants to revisit their failed business model and make better quality free cornball games that will make no money. Without online gambling they have no key business differentiator from the zillions of other social and mobile gaming companies.
I bought in for the RMG at various blocks between 2.30-3.50 back last fall. That was always the long term potential for the company, as they were well positioned to capitalize on the legalization of gambling online. These social and free mobile games are revenue losers. The barrier to entry is so low and there are so many players now that these games are a dime a dozen. I'm looking to get out but just waiting until this thing gets pumped one more time to 3.50.
This press release sounds more like Mimvi is making use of Microsoft's technology and not the other way around.
dude they have zero revenue. Exactly how much money is microsoft giving them? If you or the company can't say exactly what they are getting in a specific dollar amount, then this is just another empty pump of the stock.
those "acquisitons" are super sketchy. For one thing, the press release states that fanappic was launched in 2010, yet a simple whois search shows the domain wasn't registered until sept 2012. also when you google fanappic the majority of hits are just mimv press releases announcing their acquisition of the site. There is no site popularity to speak of.
Exactly, the report says they don't have enough cash to continue operations for the next 12 months(although doing the math...it's more like they don't have enough for the next 3 months.)
I did contact them via chat, and their reply was "not all otc stocks can be traded on tradeking. The list constantly changes." When I asked why this stock was not available, he told me he did not have an answer. I might call them later, but I ended up buying more Lynas instead. Really would like to get into MIMV while it is in the downswing.
Yeah, but I'm more of a buy and hold kind of guy. The .01 per share fee doesn't bother me cause if you buy a .10 stock hoping to sell it at 2.00 or 3.00 in a year or two, then .01 doesn't matter. I'm still a small time investor so not buying 25,000 shares at .25 and hoping to sell at .35 the next week. All the sites have their advantages and disadvantages, I just can't believe tradeking will let me trade on "more ghetto" stocks like CRWG but not allow trading for MIMV.
I tried to buy some of MIMV through tradeking, and it said "symbol not avail for trading." I can't understand why as I have had no trouble trading otc and pink sheets stock with tradeking before. Hard for the price to go up if people are not able to buy!