Open Equity
MIMI·

Mint Incorporation: $2.9M Revenue, Recurring Scanner Pump, No Catalyst

AvoidConsumer ServicesNano CapPublished July 13, 2026
View Our Thesis ↓

MIMI — 6 Month Price History

Daily OHLC

Executive Summary

Mint Incorporation (MIMI) gained +34% on 18.5M volume with no identifiable catalyst. The company is a Cayman Islands-registered entity with $2.92M TTM revenue (declining 31%), 11.3% gross margin, and ($2.65M) operating loss.

Previously known as Golden Star Acquisition Corp (a SPAC). The business model is opaque — Cayman Islands registration with limited disclosure. Revenue has declined from $4.38M to $2.92M.

Recurring scanner name. Late June saw a surge from $2 to $4+. Today +34% on no news. This is thin-float momentum manipulation.

Avoid.

Business Model & Revenue

Mint Incorporation Limited (NASDAQ: MIMI) is a Cayman Islands-registered company, formerly Golden Star Acquisition Corp (SPAC). Revenue: $2.92M (declining). Business model is unclear.

Financial Highlights

MetricTTMFY2025FY2024FY2023
Revenue$2.92M$3.27M$4.38M$2.67M
Gross Profit$0.33M$0.73M$1.56M$1.26M
Gross Margin11.3%22.3%35.6%47.2%
Operating Loss($2.65)M($1.63)M$0.89M$0.93M

Revenue declining, margins collapsing. Gross margin went from 47% to 11%.

Competitive Landscape

No competitive position — the business is unclear.

Catalysts

"No identifiable catalysts. Recurring scanner appearances driven by momentum, not fundamentals."

Key Risks

  • +34% on no news. Recurring scanner pump pattern.
  • Cayman Islands registration with limited disclosure.
  • Revenue declining 31% YoY. SPAC heritage.
  • No identifiable business model or catalyst.
  • 18.5M volume on nano cap — thin-float manipulation.

Our Thesis

MIMI is a Cayman Islands shell-like entity with declining revenue ($4.38M → $2.92M), thin margins (11.3%), and no identifiable business model. The SPAC heritage (Golden Star Acquisition Corp) suggests the company may be a reverse merger vehicle rather than an operating business.

The recurring scanner appearances (late June surge, today +34%) on no news are classic thin-float momentum patterns. 18.5M volume on a nano cap with no catalyst = speculative pump.

Avoid.

Disclaimer: This report is for informational purposes only and does not constitute financial advice. Small-cap, micro-cap, and nano-cap stocks carry significant risk including limited liquidity and higher volatility. Always do your own due diligence before making investment decisions.

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