MarilynJean Interactive Inc (OTCMKTS:MJMI) Is Today's Bitcoin Focus

MarilynJean Interactive Inc (OTCMKTS:MJMI) is finally getting active again after being quiet for most of 2016. Most small cap investors remember this one from last year when a promo campaign on the back of bitcoin sent the stock flying to $3 a share. Then the promo dollars went dry and MJMI pretty much flat lined and has been stuck between $.05 and $.50 a share. With the promo dollars evaporating, share volume dried up as well and the stock was trading by appointment. That all changed this month after the company released its latest press release and a few newsletters started recommending the company on the strength of the bitcoin market.MJMI says that it is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. According to MJMI, it is "currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions."The latest news from the company is that it has entered into negotiations for a private placement financing. MJMI hopes that with the success of this financing would allow the company to target a much wider range of potential acquisition targets. By allowing the company to offer both cash and stock as part of its acquisition strategy, the company would have a much wider range of targets to acquire while it builds its digital currency exchange system.There's no doubt the potential of the bitcoin market. With a market capitalization of over $9 Billion, Bitcoin continues to draw investment capital and talent to the industry. CNN reports that over $1 Billion has been invested in Bitcoin start-ups. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Since neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control.In recent months, the value of Bitcoin has skyrocketed over 40% from less than $450 to over $650. This price jump along with the increased adoption of the underlying blockchain technology by financial institutions continues to draw capital and investors to the space. According to blockchain.info, the average daily transaction volume has increased approximately 300% since August of 2015, hitting a high of over $430 million in a single day in June of this year.MJMI also has an LOI to acquire an equity position with an owner/operator of Bitcoin ATMs that is also involved in digital currency to hard currency exchange space. The goal is that it will not only allow MarilynJean to offer users a faster and less expensive way to buy and sell Bitcoin but also opens the door to the multi-billion dollar international currency exchange and remittance market. MJMI President Peter Janosi said:

"The fact that a potential acquisition target has pursued us and requested an LOI further validates our activities in this space. We are working with our partners to build networks that can handle transactions involving all currencies and other financial instruments."

Currently trading with a market cap of $17 million, MJMI aims to capitalize on bitcoin's growth. To do so, the company is going to need to boost its financials. In looking at the latest financials, we see ZERO revenues, a quarterly net loss of $15k, $11k in cash, $13k in total assets, and $525k in total liabilities. The good news is that it looks like a new promo is kicking off and we saw what happened last time a promo was run on MJMI. Bitcoin is a hot story and any tie-in is bound to produce results. We will be updating Insider Financial as soon as we know more. For the latest updates on MJMI and its promo efforts, sign up below!Disclosure: We have no position in MJMI and have not been compensated for this article.