New York, NY / ACCESSWIRE / October 8, 2014 / SeeThruEquity, a leading independent equity research and corporate access firm focused on small-cap and micro-cap public companies, today announced it has initiated coverage on Eventure Interactive, Inc. (OTCBB: EVTI), a social communications and application development company that makes local event participation smarter by tying relevant digital engagement together with the utility of a social calendar.
"We believe the company is planning numerous applications for their new messaging platform, with the initial application focused on how users organize locally. What intrigues us about Eventure is the grandness of its vision - programmed intelligence that combines the capabilities of several social applications in a single messaging platform. The company’s initial product, focused on organizing local events, has a simple but powerful message - Plan It. Live It. Share It. The application enables a wealth of features that would otherwise require several applications," stated Ajay Tandon, CEO of SeeThruEquity. "We are initiating coverage with a target price of $3.50."
Additional investment highlights are as follows:
New Product - Addresses a large and growing market
Eventure participates in a large and growing market with an initial mobile application that addresses an under-serviced need: local events. There are over 1.6Bn social media users globally, and this figure is expected to rise rapidly to 2.3Bn by 2017. Advertising on mobile devices and social media networks represent two of the fastest-growing areas of the digital advertising industry, benefitting from the proliferation of web-enabled mobile devices and the natural synergies of social media with mobile communications. Eventure’s products are planned for a sweet spot in this market, with a focus on adding machine intelligence to mobile applications and messaging. The company has set a bold goal of reaching a user base in excess of 10mn by 2016E and 30mn users over the next several years and plans to achieve monetization through commerce, advertising, and subscription products in excess of $5 per user per year. If Eventure is able to execute on these goals, the company envisions attractive leverage as the business scales, with incremental revenues contributing significantly to the bottom line and operating margin targets in the mid-double digits.
Android Release - An encouraging step in product development
We are encouraged by Eventure’s Beta release on the Android platform in the Google Play marketplace at the end of July. This is the largest mobile operating system in the world, and the company has had positive initial feedback. We expect Eventure to spend the next sixty to ninety days refining the application before launching a coordinated marketing and commercial effort during the holiday season.
Recent Investment bolsters balance sheet
Additionally, Eventure recently announced just over $4.2mn in new funding commitments led by private investors and Kodiak Capital Group, LLC, an institutional investor based in Newport Beach, CA. We view the funding commitments as a positive because it should provide the company with financial flexibility to focus on improving its Android product, augment its offering with new hires and selective acquisitions, and release an iOS product prior to its commercial launch in 4Q14. The company has already made one move in this area by announcing its acquisition of Gift Ya Now, which adds the capability for Eventure users to make a transaction when sending invitations and cards.
The report is available here: EVTI Initiation Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack’s. The report will also be available on these platforms.
Please review important disclosures on our website at www.seethruequity.com.
About Eventure Interactive Inc.
Every day hundreds of millions of events are attended, where billions of photos and videos are taken; each of these events represents some of life's most meaningful experiences and memories. Almost none of these memories are being effectively organized in a way that brings meaning to their owner. By solving this problem, Eventure brings real and lasting meaning to its users' lives, and in so doing, addresses a yet untapped market opportunity.
At Eventure you'll find a simple, yet elegant, web-to-mobile application where individuals can easily create, capture, and organize life's memories. From the most basic lunch between friends, to the most elaborate star-studded gala, Eventure allows everyone to chip in during the planning of an event, easily check-in when you arrive at the event, capture and stream pictures and video during the event, and then scrapboard the collage of activity after it is all done. Whether planning, inviting, attending, capturing, or scrapboarding, Eventure truly redefines how one organizes life's most memorable moments.
For more information please visit www.eventure.com.
About SeeThruEquity
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.
Contact:
Ajay Tandon
SeeThruEquity
(646) 495-0939
SOURCE: SeeThruEquity