MiMedia Holdings Inc. (MIMDF:OTC; MIM:TSXV; KH3:FSE), creator of a next-generation cloud platform that gives users access to their personal media across all devices and platforms, announced that its software had been launched and integrated on the first set of smartphones in the United States made by partner Schok.
MiMedia's platform was uploaded to the phones via an "over the air" or "OTA" software update, demonstrating what the company noted is its ability to integrate quickly onto phones already in customers' hands.
MiMedia said going forward, the platform will be integrated into new Schok smartphones coming to market, as well.
"I am proud of our team's ability to integrate with a new partner so quickly and seamlessly to get to market," said MiMedia Chief Executive Officer Chris Giordano. "We are, of course, excited to launch in the U.S. for the first time with Schok. The U.S. market, as a Tier 1 mobile advertising market, brings to our business model 7x+ higher advertising CPMs vs. other regions that we target. We are looking forward to new launches on new devices with Schok and increasing device volume in the near term as we head into the busy season for smartphones in Q4."
Schok Chief Executive Officer Sam Gutiérrez said, "MiMedia fits right into our strategy of providing exceptional software, important and high-value propositions, and high-quality smartphones at a great price. We love what MiMedia has built, and we believe our consumers will also love it."
Made up of servers around the world, "the Cloud" is the new virtual storage space for our photos, messages, and important data.
Technical Analyst Clive Maund said the company's cloud solution "is arguably a considerable improvement on Google Photos and iCloud."
The company has said the largest telco carriers and smartphone manufacturers are missing revenue opportunities in the Cloud, which is expected to grow at a CAGR of 16.4% to be a US$1.44 trillion market by 2029, Mordor Intelligence reported.
MiMedia's solution is a platform that serves as a complete end-to-end solution for getting these players (Telcos and OEMs) into the market to give Cloud functionality to their customers while giving their partners access to multiple revenue streams, including mobile advertising and storage subscriptions.
MiMedia's seven apps are seamlessly integrated into one platform to work on smartphones, tablets, PCs, and all Web browsers. The platform is device agnostic, which means it works on all operating systems (Android, IOS, Mac, PC) and can be loaded directly into Android phones' core code as the default media gallery before shipment to consumers (Android makes up 85% of the global smartphone market).
Now Trading on the OTCQB
MiMedia also announced it successfully started trading in the U.S. on the OTCQB Venture Markets exchange under the symbol "MIMDF" on August 1. The company's common shares will continue to trade on the TSX Venture Exchange under the symbol "MIM" and on the Frankfurt exchange under the symbol "KH3."
The OTCQB, operated by OTC Markets Group, Inc., is designed for developing and entrepreneurial companies in the United States and abroad.
"We are excited to be listed in the US on the OTCQB and look forward to attracting new public market investors in the U.S.," Giordano said.
The company said it has also closed an 18-month loan investment with an arm's length corporation for a principal amount of CAD$1 million. The proceeds of the Loan will be used by MiMedia for general corporate purposes, the company said.
"We will always consider being opportunistic to grow faster," Giordano said. "The promissory note will allow MiMedia to leverage off the Schok deployment with our other
partners in other regions of the world and increase our business development efforts."
In connection with the loan, MiMedia has issued to the Lender an aggregate of 4 million share purchase warrants. Each warrant is exercisable to acquire one subordinate voting share of the company at a price of CA$0.25 for a period of 18 months from issuance.
"The company has spent US$50+ million developing the platform, which took six+ years to build and also has 16 issued patents," noted Technical Analyst Clive Maund on August 14. "MiMedia's platform is offered at no upfront cost to OEMs and Telcos, and the company and its partners share in the revenues generated by MiMedia's multiple revenue streams. MiMedia has made the platform very easy to implement and can be up and running in a few months or less."*
Millions of Phones to Get MiMedia Gallery
Maund said the company's cloud solution "is arguably a considerable improvement on Google Photos and iCloud."
"The platform sports a unique superior gallery with adverts on Android phones, which constitute 85% of the world's phones, and the company is the first to bring advertisers into this space and monetize it," he wrote on August 14, rating the stock an Immediate Strong Buy.
Streetwise Ownership Overview*
MiMedia Holdings Inc. (MIMDF:OTC; MIM:TSXV;KH3:FSE)
The company said its platform is already contracted to deploy on 35 million phones globally, which could double over the next year.
According to a report by Stats N Data, "As businesses and consumers increasingly seek more efficient and flexible phone solutions, the integration of cloud technology in the mobile landscape has gained immense traction, positioning the Android Cloud Phone as a vital player in the broader telecommunications industry."
The report said that the market is expected to grow at a CAGR of 24.36% from 2024 to 2031. Markets and Markets reported that the global private cloud market will grow from US$124.8 billion this year to US$190.9 billion by 2029 at a CAGR of 8.9%.
Ownership and Share Structure
According to the company, it has 73.7 million basic shares and 99.9 million fully diluted shares outstanding, with 8% of the company owned by insiders and management and the rest is retail.
Its market cap is CA$14.61 million (based on basic shares), and it trades in a 52-week range of CA$0.47 and CA$0.19.
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Important Disclosures:
- MiMedia Holdings Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Mimedia Holdings Inc.
- Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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* Disclosure for the quote from the Clive Maund article published on August 14, 2024
- For the quoted article (published on August 14, 2024), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$2,500 in addition to the monthly consulting fee.
- Author Certification and Compensation: [Clive Maund of clivemaund.com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts’ Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed
Clivemaund.com Disclosures
The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.