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Micro-Caps on the Move; OriginOil Inc. (OOIL), Mimvi Inc. (MIMV), Abtech Holdings Inc. (ABHD)

Shares of OriginOil Inc. (PINK: OOIL), a company engaged in the development of energy production process for harvesting algae and cleaning up oil and gas water, are up sharply in trading today. At last check, OOIL shares were trading 4.17% higher at $0.875 on above average volume of 397,336. The stock hit an intra-day high of $0.95 today.

OOIL shares are gaining today after the company announced that its second original equipment manufacturer’s agreement will target oil service companies in the Canadian oil sands market.

Riggs Eckelberry, CEO of OriginOil, said that major oil sands producers in the region are expected to commit hundreds of millions of new dollars to water management and tailing pond treatment over the next few years.

Shares of Mimvi Inc. (PINK: MIMV), a developer of mobile applications, algorithms and technology for personalized search, recommendation and discovery services for the mobile app and social networking industry, are sinking in trading today. At last check, MIMV shares were trading 21.49% lower at $0.369 on above average volume of 1.08 million.

MIMV shares are down sharply today even as the company unveiled its plans for a series of mobile discovery apps at NASDAQ MarketSite in Times Square, New York City.

Michael Poutre, President and CEO of Mimvi, said that today represents a milestone in MIMV’s history. Poutre noted that the mobile app ecosystem has come a long way in the last two years, however, issue of mobile app discovery continues to be a pain point for consumers and developers alike and therefore the company is excited that consumers, advertisers and developers will benefit from its best-in-class discovery technology in the form of native apps.

Shares of Abtech Holdings Inc. (PINK: ABHD), an environmental technologies company providing various solutions to address issues of water pollution in the U.S., are rallying in trading today. At last check, ABHD shares were trading 6.51% higher at $0.900 on above average volume of 546,328.

ABHD recently reported its third-quarter financial results. For the quarter ended September 30, 2012, ABHD reported revenue of $81,000 in legacy storm water product sales from previous distributors or customer outside the Waste Management relationship.

 


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