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Sunday, October 25, 2020

On The Move Systems Corp (OTCMKTS:OMVS) is Riding Acquisition News

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On The Move Systems Corp (OTCMKTS:OMVS) is seeing strong volume today and price movement. The company’s acquisition of Robotic Assistance Devices would bring serious value to the company and the market is seemingly reacting. OMVS announced that the deal would be finalized in mid-August, so let’s look at the company as a whole the way it currently stands.

The business focus is transportation-related technology services. OMVS notes that it is currently exploring the online, on-demand logistics market by developing a shared economy network of trucking partnerships. OMVS is in the process of building a shared economy app designed to put independent drivers and brokers together for more efficient pricing and booking, optimized operations and quick delivery turnarounds. The company has signed a letter of intent with a Houston-area software design firm regarding development of such a platform. The Company believes that this app, when released, could revolutionize the trucking industry by connecting national and local carriers, enabling each to maximize revenues and reduce costs.

On The Move Systems Corp (OTCMKTS:OMVS), currently carrying a$1.75 million market cap with 43.79 million shares outstanding, has an interesting business portfolio with its transportation services plus the new RAD partnership. With RAD now picking up momentum on the operational front combined with increasing top-line growth, market participants are excited by shares of OMVS.

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“We are looking forward to completing the acquisition with OMVS,” said Steve Reinharz, President and CEO of RAD. “We are confident that the combined teams of RAD and OMVS will lead to a very fruitful and successful partnership.”

RAD believe it will deploy robots to end users this month. To date RAD has commitments for 15 robots for total contract values of approximately $1.5 million. On the Move has successfully completed its due diligence process on RAD as part of the binding LOI that was entered into last week for the purchase of 100% of RAD by OMVS. It is anticipated that the acquisition will close before August 10, 2017.

RAD currently has a sales pipeline of over 50 Fortune 500 companies and over 25 qualified dealers and distributors that have a combined customer base of more than 35,000 end user corporations.

OMVS is known for its ups and down, but the deal for RAD will most likely boost this stock’s shareprice significantly. The value is real and RAD has put sales into high gear in light of the deal. The float is small here, so traders are chasing shares right now.

On The Move Systems Corp (OTCMKTS:OMVS) is a stock you need to be watching in the short-term because it will seemingly take off in sudden rips at any moment. There are positive catalysts here for sustained growth and OMVS should be on your radar. For continuing coverage on shares of $OMVS stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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