Andiamo Corp (OTCMKTS:ANDI) has been smacked in recent action, with shares diving under a clear bearish descending triangle trigger point in the area of $0.013/share. The drop under that level has carried the stock back into sub-penny territory and near a test of its 200-day simple moving average just above the half-cent level. And the real question now is this: is this the buying opportunity for a powerful retest of recent highs back up near the $0.04 area?
There isn’t a whole lot that argues that point. But one recent piece of news demonstrates the company’s initial response to the share weakness: the company just announced that serial entrepreneur, venture capitalist, and tech trailblazer Ilja Laurs is now an advisor to the company. According to the release, “Mr. Laurs is a pioneer in mobile software technology and has a track record of building multiple nine-figure companies from scratch. He is the Founder and Executive Chairman of GetJar, one of the world’s largest mobile app stores, and Chairman of Nextury Ventures, a venture capital firm that invests in early-stage startups in multiple high-tech industries.”
Andiamo Corp (OTCMKTS: ANDI) promulgates itself as a company that Andiamo Corporation, a Wyoming domiciled publicly traded company, and its subsidiary Utopya is an emerging technology company focused primarily on the development and distribution of mid-market smartphone devices equipped with a proprietary software ecosystem.
As part of the company’s long-term vision, it intends on bolstering its technology IP (intellectual property) by acquiring stakes in complementary technology firms, when it makes strategic sense to do so. Utopya smartphones will come equipped with a software ecosystem that includes a proprietary Android Operating System (OS) skin, as well as a number of proprietary mobile apps available exclusively to Utopya users.
The company will be well positioned as one of the only mid-market smartphone companies to offer a proprietary software experience to its customers; this will be especially true in many emerging market economies, where competition is scarce and growth potential is enormous. Acquiring users into the software ecosystem will allow the company to develop a diverse array of revenue streams which will function as a distinct competitive advantage, while also providing a barrier to entry against prospective mid-market competitors.
Andiamo Corporation, through its subsidiaries, provides prepackaged software services. It provides mobile applications through the Apple iTunes App Store and the Google Android market in approximately 80 countries. The company was formerly known as Title Consulting Services, Inc. and changed its name to Andiamo Corporation in June 2011. Andiamo Corporation was incorporated in 2000 and is based in Lansing, Michigan.
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As noted above, the company just moved to beef up the talent on its advisory board by adding a serial entrepreneur with relevant experience.
Mike Starkweather, President of Andiamo, commented, “With his passion for mobile software and depth of expertise in successfully scaling high-growth technology companies, Ilja is sure to add tremendous value to the U team, and we are thrilled to formally welcome him to Utopya.”
Traders will note a bit more than -50% stripped out of share values of the company over the past week of action, a rally that has pushed up against longer standing distributive pressure in the stock. That said, ANDI has evidenced sudden upward volatility on many prior occasions. Moreover, the name has seen a growing influx of trading interest, with the stock’s recent average trading volume running 61% above its longer-run average levels.
Now commanding a market cap of $31.8M, ANDI has virtually no cash on the books, which compares with virtually no total current liabilities. ANDI is pulling in trailing 12-month revenues of $106K. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling precipitously according to recent reports. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $ANDI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ANDI, either long or short, and we have not been compensated for this article.