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Reports
Harbinger Research Report Magnitude Information Systems 2009
(click here to view)
* This report is located on the Harbinger Research website, Magnitude does not endorse any other reports or information contained therein.
Summary and Investment Opportunity
(Exerpt from Harbinger Research Report)
- 2.0 Website and WAP site for Mobile Phones Spurs Accelerating Growth
Kiwibox.com recently rolled out its 2.0 website, which more fully integrates social networking features with publishing and content features and added software "widgets" that facilitate the importing of homepage content from MySpace and Facebook. These improvements have caused a dramatic increase in traffic to the site, as well as a tripling of the new user adoption rate - all since the improvements were introduced just over 2 months ago. See Alexa inset below.
- The Competition is Lagging in the Online World
The Company's most significant competitors are those few teen-focused magazines that have survived the current industry shakeout, namely Seventeen and Teen Vogue magazines. Although both of these franchises had (and have) rather dominant positions in traditional publishing for teens, their Web initiatives cannot compare with the Company's. Given that the Web is not these organizations core competency, we expect the functionality/quality gap between Kiwibox.com and these companies' site to continue to widen in coming months. Note that these competitive magazines are owned by Hearst and Conde Nast, respectively; either of these publishing behemoths could easily acquire MAGY at a valuation that shareholders would find quite attractive.
- Upgrading to Strong Buy with 12-month Price Target of $0.08 per share
Since our last report, MAGY has made great strides in every area, most notably in the successful acquisition, operation, and improvement of the Kiwibox.com website. This site is now live, with rapidly increasing user adoption, a mobile-optimized website version, and strong future feature/product plans. Furthermore, it has now established itself as the clear leader in teen-only social networking, and has made what we believe to be wise choices in helping teens integrate their Kiwibox pages with MySpace and Facebook. Because of this success, and due to this Web property's inevitable appeal to large publishing and online players, we are upgrading our research rating to Strong Buy and setting our 12-month price target at $0.08 per share, with significant future upside possible.
Financials 2008
Financials 2007