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Merriman Capital Initiates on hopTo, Inc. with a Buy Rating


May 6, 2014 - London

SAN FRANCISCO - May 6, 2014 - Merriman Capital, Inc. ("Merriman"), a wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX: MERR), announced that it has initiated equity research coverage of hopTo, Inc. (OTCQB: HPTO) with a Buy rating and a $0.40 price target.

hopTo is the developer of the most comprehensive mobile productivity workspace for the iPad. Users can access, create, edit and share Microsoft Office files (Word® documents, Excel® spreadsheets and PowerPoint® presentations) within cloud storage services like Box, Dropbox, Google Drive, OneDrive, and Egnyte.  Additionally, the company announced the development of a new product offering, hopTo Work, earlier this year. hopTo Work is a platform that will address the mobile access challenges that modern businesses face in the post-PC era: a secure, device-agnostic (supporting iOS and Android running on both tablets and smartphones), bring-your-own-device (BYOD) solution that provides secure and flexible file access, multi-tasking, secure email, and more. hopTo Work will provide SMB and Enterprise users with greater flexibility when it comes to data storage, multi-tasking, IT security, compliance and auditing requirements and the need to curb document sprawl.

hopTo offers its users a variety of features and functions not found in other apps. The app is currently available for the iPad and is free on Apple's App Store. To date, hopTo has received over 400,000 downloads on the iPad and Merriman expects the aggregate user case to approach one million by year-end 2014. With a large user base, Merriman estimates that the company will generate $10.5 million in 2015.

The Company started as GraphOn Corporation in 1999, specializing in enterprise software for server-based computing, which enabled centralized management and remote access of applications. 2011 was focused on web-enabling applications for multiple computer operating systems, including Windows, UNIX and several Linux-based variants. These applications were sold largely via an OEM model for use or resale to independent software vendors (ISVs) and enterprises. For the better part of 15 years, the firm's revenue base has been stable in the high-single-digit ($ millions) range. In 2012, Eldad Eilam was named CEO and the Company pivoted to developing productivity software for mobile devices. The Company changed its name to hopTo in 2013 and unveiled its first commercial version of the hopTo app on Apple's App Store. On March 11, 2014 the company announced hopTo Work, an enterprise version of its productivity application, offering a secure mobile productivity platform to enterprises and small businesses.

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About Merriman Capital, Inc.

Merriman Capital, Inc. is a full service investment bank and Broker-Dealer that facilitates efficient capital formation through a proprietary digital network, and offers Capital Markets Advisory and comprehensive Corporate Brokerage services for public and private companies. The firm also provides equity and options execution services for sophisticated investors and differentiated research for high growth companies. Merriman Capital, Inc. is a wholly owned brokerage subsidiary of Merriman Holdings, Inc. (OTCQX: MERR) and is a leading advisory firm for publicly traded, high-growth companies.

Digital Capital Network, powered by Merriman Capital, is a capital marketplace that enables highly targeted and more efficient execution of transactions. Please visit our website for more information on how you can be a part of our Digital Capital Network: http://www.digitalcapitalnetwork.com.

Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org/.

Note to Investors

This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on March 31, 2014. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K filed on March 31, 2014, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."
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At Merriman:

Adriana Piltz
Director of Research
Merriman Capital, Inc.
(646) 292-1424

Brian Murphy
Managing Director
Equity Research
(646) 292-1411

Howard Bernstein
Chief Compliance Officer
Merriman Capital, Inc.
(415) 262-1377

For Disclosures please see full report in the link above.

 





This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Merriman Holdings Inc. via Globenewswire

HUG#1783211

GlobeNewswire

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