SUNNYVALE, Calif., Aug. 17, 2012 /PRNewswire/ -- Mimvi, Inc. (OTCBB: MIMV) secures eligibility by The Depository Trust Company (DTC) for its shares on the OTC effective August 16, 2012. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible". This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation (DTCC), and manages the electronic clearing and settlement of publicly traded company stocks and other securities. DTC provides for the centralized custody of securities so that they exist only as electronic files rather than as physical certificates. This process provides banks, brokerage firms and other institutions with an efficient means of moving securities and settling trades electronically.
"DTC eligibility simplifies the process of trading our stock," said Michael Poutre, Chief Executive Officer. "We expect this step to improve our market liquidity and make our stock more attractive to investors."
Headquartered in Sunnyvale, California, MIMVI, Inc. (OTCBB: MIMV) is a pure-play search and recommendation technology company. Its proprietary search and "intelligent" recommendation algorithms enable the search and discovery of Mobile Apps, Mobile Content and Mobile Products across multiple devices and platforms, including: Apple's iPhone and iPad, Google Android, BlackBerry, Windows Phone, Facebook and Web Apps. For more information, please visit: http://www.mimvi.com.
Safe Harbor Statement
This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. MIMVI has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect
Mimvi's current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Mimvi's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. MIMVI undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.
SOURCE Mimvi, Inc.