UnifiedOnline Inc (OTCMKTS:UOIP) saw a volume of 19270000 in yesterday’s trading sessions and a swing of 45.12%. This internet and cloud computing company has been volatile since the Wannacry malware attack last month. UOIP’s subsidiary deals with disaster recovery, which could be responsible for pushing shares higher.
However, the company has not put out any recent press, so this volatility is something to watch. It is entirely possible that the company has a large order pending that has been undisclosed or that the company is in negotiations for a buyout, but both are speculative at best.
UnifiedOnline Inc (OTCMKTS:UOIP), according to company materials, provides wireless and fiber broadband service, co-location space and related services and operates a Network Access Point where clients directly interconnect with a network ecosystem of partners and customers. UOIP has a market cap of $11.33 million. In addition, through the Company’s IceWEB Storage Corporation subsidiary, it can deliver online cloud computing application services, other managed services, such as Disaster Recovery, Archive Storage, Redundant File Storage, Redundant Broadband Services and Business Continuity Services. It currently has negative earnings.
The company was created after the acquisition of 100% of the outstanding stock of Computers and Tele-Comm., Inc., a Missouri corporation, and its wholly owned subsidiary, KC NAP, LLC in exchange for 23,921 shares of common stock. In 2013, UOIP announced that it would merge with Storage vendor IceWEB. With this new business transaction, the company started to provide cloud application services, and cloud storage services that include file sharing and collaboration services.
UOIP’s subsidiaries, Computers & Telecom, Inc. and KCNAP, LLC (CTC), operates a wireless Internet service business, providing Worldwide Interoperability for Microwave Access (WIMAX) broadband to small and medium size businesses in the metro Kansas-City, Missouri area.
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The Wannacry attack has been pushing up software companies across market since the attack. The virus attacked windows systems that had not been updated and did not include a “critical” patch that had been “issued by Microsoft to remove an underlying vulnerability “. Many organizations, which were not secured, suffered the attack that spread all over the world in the following days. Experts estimate that over 200,000 victims and more than 230,00 computers were infected. The virus did not slow down its activity until late May. Hackers demanded $300 to $600 from each user to recover the encrypted files as ransom. UOIP might be riding this wave along with other sector companies, but it is unclear.
UOIP details intangible assets on the balance sheet; $5,049,383. Diving deeper into that means that the total amount of assets is approximately $5.2 million. Intangible assets could be patents or technologies that are still be developed and could be valued broadly. Above all this, UOIP is currently flagged by the OTC Markets exchange with the “Caveat Emptor” sign, which means that shareholders need to “exercise additional care and perform thorough due diligence before making an investment decision in the company“.
UnifiedOnline Inc (OTCMKTS:UOIP) is a volatile company with murky evidence behind the rise. Investors should be absolutely careful because the company has not released any press about business moves or investments. Following the bread crumbs leads us nowhere and UOIP could just be riding a temporary wave. This is a stock to watch but also a sector to keep an eye on as well. For continuing coverage on shares of $UOIP stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!