MIMV News Mimvi, Inc. Becomes DTC Eligible

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."