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NIVS Research Report from Pro-Active Capital Resources Group, LLC

NIVS Research Report from Pro-Active Capital Resources Group, LLC

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  • 1. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    Pro-Active’s Research Report and Update, 21 May 2009
  • 2. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    NIVS IntelliMedia develops, produces and sells audio, video and other consumer electronics products. Their products are sold on a brand name and OEM basis globally with their revenues currently generated primarily in China and Asia.
  • 3. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
  • 4. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    Key Point:
    The company has demonstrated excellent revenue growth…
  • 5. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    Note: 2009 Estimate $172-186M
  • 6. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
  • 7. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    The Company and its Products
    • The company has developed an established brand name in China.
    • 8. Their products are distributed on a global basis, with China and Asia currently their largest markets.
  • Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    Company Products Include:
    LCD Televisions
    Digital Set‐top Boxes
    Stereo Systems
    DVD Players
    GPS Systems
    MP3 / MP4 players
  • 9. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    NIV is a Leader in Intelligent AV Products
    • Portfolio of 20 product lines, including voice interaction platform for LCD TVs, speaker systems, DVD players, GPS systems •
    • 10. Voice activation platform controls household appliances
    • 11. Software based on embedded real‐time LINUX operating system
    • 12. Higher gross margins compared to standard AV products
  • Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
  • 13. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    • Pioneer in intelligent Diverse portfolio of standard AV products AV products utilizing Mandarin speech control interface
    • 14. Collaboration with Chinese Academy of Science to develop speech interactive technologies
    • 15. Strong relationships with Chinese and international OEM customers
  • Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    NIVS is a Technology Leader
    • Emerging global leader in intelligent AV consumer electronics
    • 16. State‐of‐the‐art design and manufacturing capabilities
  • Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    NIVS has an Effective Marketing Strategy
    • Products distributed in China under NIVS and OEM brand names
    • 17. Strong global OEM and private label distribution partners
    • 18. Demonstrated cost‐savings and performance advantage
  • Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    COMPANY GOALS and EXPANSION PLANS
    • Expand and diversify the company’s product offerings
    • 19. Build partnerships with new and existing clients
    • 20. Expand the company’s global presence
  • Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    COMPANY GOALS and EXPANSION PLANS
    • Expand the company’s sales network and distribution channels in China
    • 21. Augment marketing and promotion efforts to increase brand awareness
  • Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    NIVS IntelliMedia Technology
    NIV (NYSE Alternext US) $2.75
    Pro-Active Rating: Buy
    Price Target: L/T $12.00
  • 22. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    Market Data
    52-Week High/Low* $5.50/$2.19
    Ave. Daily Volume* 147,000 sh
    Shares Outstanding (approx) 40.7 mil sh
    Fully Diluted (approx) 40.7 mil sh
    Public Float (approx) 8.27 mil sh
  • 23. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    Market Data
    Market Capitalization (Fully Diluted approx) $112 mil
    Cash & Equivalents (3/31) $2.18 mil
    Restricted Cash (3/31) $12.73 mil
    Book Value (approx) $1.41
    Short-term Debt (approx 3/31)* $55.18 mil
    Long-term Debt (approx 3/31)* $0
    Total Debt (approx 3/31)* $55.18 mil
    Total Debt/Equity (approx)* 96%
    Total Debt/Total Capitalization (approx)* 49%
  • 24. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    Recommendation History: Pro-Active Research Group, a division of Pro-Active Capital Group, LLC, initiated coverage of NIVS IntelliMedia Technology Group, Inc. on March 16, 2009 with a Buy recommendation and the following price target:
    L/T $12.00
    Rating System: Pro-Active Research has a three-tier rating system: Buy, Hold, Sell. Pro-Active Research also issues non-rated informational reports.
    Coverage Universe: 100% Buy
  • 25. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    DISCLAIMER:
    The information herein is believed to be reliable and has been obtained from public sources believed to be reliable. We make no representation as to the accuracy or completeness of such information. Opinions, estimates and projections in this report constitute the current judgment of the author as of the date of the report and are subject to change without notice. We have no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate, or if research on the
    subject company is withdrawn.
  • 26. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    DISCLAIMER continued:
    This report is provided for informational purposes only. It is not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any financial instruments or to participate in any particular trading strategy in any jurisdiction. Opinions and recommendations in our reports do not take into account individual investor circumstances, objectives, or needs and are not intended as recommendations of particular securities or strategies to particular investors. The recipients of our reports must make their own independent decisions regarding any securities mentioned in our reports.
    This report may not be reproduced, distributed or published by any person for any purpose without the prior written consent of Pro-Active Research Group.
    This report was created on May 21, 2009 from information publicly known as of May 21, 2009. Material developments may have occurred in the interim. Neither Pro-Active Research Group nor the analyst accepts any responsibility for any material change concerning the company since this report was prepared.
  • 27. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    DISCLOSURES
    Pro-Active Capital Group received 50,000 shares of stock and will be receiving $2,000/month (contracted for a minimum of three months) from NIVS IntelliMedia in return for a comprehensive set of services, including equity research provided by Pro-Active Research Group.
    Pro-Active Capital, its representatives, and affiliated companies may beneficially own 1% or more of a class of common stock or other securities of NIVS IntelliMedia Technology Group, Inc. (“NIV”), and may also be short the common stock or other securities of NIVS IntelliMedia.
  • 28. Pro-Active Capital Resources Group
    NIV Intellimedia Technology Group (AMEX: NIV)
    Analyst Certification
    The analysts named in this report hereby certify that their views about the company are accurate and they have not and will not
    receive direct compensation in exchange for providing specific recommendations in this report.
    PRO-ACTIVE RESEARCH GROUP, INC.
    A DIVISION OF PRO-ACTIVE CAPITAL RESOURCES, LLC
    50 Broad Street, Suite 1437
    New York, NY 10004
    646 315 7070
    www.pro-activecapital.com