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Wednesday, October 21, 2020

On The Move Systems Corp (OTCMKTS:OMVS) Continues to Vault Higher

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On The Move Systems Corp (OTCMKTS:OMVS) is clearly one of the most exciting OTC vehicles in play over recent weeks. OMVS has been vaulting higher over the past 15 days, ripping from under a nickel/share to over two dimes in that time. As if to augment the moment, On The Move Systems just announced that Robotic Assistance Devices is preparing to deploy one of its robots with a major North American utility client with over 5,000 employees. “RAD previously announced that it entered into an agreement with this client for a proof of concept on June 22, 2017. RAD will be deploying the robot this week.”

According to the release, the POC is scheduled to last 20 days after which, if satisfied, the utility is expected to place orders with RAD for robots. “We are very happy to be deploying one of our autonomous security robots with this major utility,” said Steve Reinharz, President and CEO of RAD. “We are currently working with other large companies and distributors and we expect to enter into several other POC agreements with other large companies in the near future.”

On The Move Systems Corp (OTCMKTS:OMVS) was originally incorporated in Nevada on March 25, 2010.

According to the company, “We reincorporated into Nevada on February 17, 2015. Our business focus is transportation services. We are currently exploring the on-demand logistics market by developing a network of logistics partnerships. Our year-end is February 28.”

The business focus is transportation-related technology services. The company 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.

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As noted above, On The Move Systems just announced that Robotic Assistance Devices is preparing to deploy one of its robots with a major North American utility client with over 5,000 employees.

According to the release, RAD expects to deploy robots to end users in July. “To date, RAD has commitments for 30 robots for total contract values of approximately $3 million and expects to receive commitments for a total of 60 robots for total contract values of approximately $6 million by the end of the summer. OMVS has successfully completed its due diligence process on RAD as part of the binding LOI that was entered into on May 10th, 2017 for the purchase of 100% of RAD by OMVS. It is anticipated that the acquisition will close before August 10, 2017.”

The chart shows better than 240% piled on for shareholders of On The Move Systems during the trailing month. This is emblematic of the stock. OMVS is a stock who’s past is littered with sudden rips. Furthermore, the company has seen an influx in interest of late, with the stock’s recent average trading volume running a bit less than 210% over what the stock has registered over the longer term.

Traders should note this as important with a float in play that’s extremely small — of 2M shares. As savvy traders are well aware, a mechanically driven price squeeze can result from this type of mix of small float and ramping attention from traders.

Currently trading at a market capitalization of $13.1M, OMVS has virtually no reported cash on the books, which is balanced by about $1.7M in total current liabilities. One should also note that debt has been growing over recent quarters. The company is pre-revenue at this point. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $OMVS stock, as well as our other breakout picks, sign up for our free newsletter today and get our next hot stock pick!

Disclosure: we hold no position in $OMVS, either long or short, and we have not been compensated for this article.

 

 

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