On4 Communications Inc (OTCMKTS:ONCI) has been on higher ground since a CEO switch in 2016. Steve Berman has been given the reigns and seems to be turning around the company. Berman has been pursuing other business ventures since his arrival and has been acquiring businesses and helping the company get their financials in order, especially in the transparency department.
ONCI is now carrying a 1.19M market cap with 350.17M shares out. ONCI has seen a steady climb since the end of June adding about 200% in value to the share price. The company was essentially dormant for most of the summer but took a vault upward at the beginning of the month. Traders are now checking in and most our finding that there is very little news from the company to chew on. But let’s review what we know about the company.
On4 Communications Inc (OTCMKTS:ONCI) intends to become the onsite provider of certain mobile home care dental related services to senior citizens in their senior assisted living facilities where such onsite services are not being provided.
ONCI is also focused on providing other medical services, with the additional focus of acquiring and/or merging businesses primarily operating in the healthcare industry. The Company was engaged in providing prepackaged software. The Company has not generated any revenues.
According to company materials, “On4 is a holdings company with an aggressive focus of acquiring proven and profitable businesses, especially those businesses operating in the $1.7 trillion U.S. healthcare industry.”
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The company has not released any significant press since last year, but the news is worth revisiting here briefly.
ONCI announced in November 2016 its intention to acquire a 49% equity/ownership stake in Family Mobil Safety Marketing, the distributor of a safe driving App. Under terms of the deal, FMS and their global distribution network of the drive safe app will remain fully operational and continue as a standalone brand following the close of the acquisition.
“The FMS safe driving app is intended to do a number of things to keep your attention on the road while you’re driving and not on your smartphone. As soon as the FMS app detects that the vehicle’s wheels are in motion the App will be programmed to automatically shut down all voice and social media for safe, distraction-free driving.
On4 Communications Inc (OTCMKTS:ONCI) has been charting upward recently but this is not on any legitimate news. ONCI is in search of an identity but the company seems to be in good hands under Berman, but time will tell. There are rumors that news is coming for ONCI but nothing substantial has been released. We would tread cautiously here but believe that ONCI is worth watching. For continuing coverage on shares of $ONCI stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $ONCI, either long or short, and we have not been compensated for this article.