Bionovelus Inc (OTCMKTS:ONOV) Is Ready For Its Pump
Back in January 2014, Bionovelus Inc (OTCMKTS:ONOV) was called Firstin Wireless Technology Inc. It was traded under the FINW symbol, its price hovered around $0.30 and the people who were running the company back then were saying that they are going to spark “the mobile VoIP revolution”. They did nothing of the sort.
In fact, they failed rather miserably at making good on their promises and they left quite a lot of disappointed investors behind. They’re gone now.
The name and ticker symbol were changed in May, a reverse split was effected at the same time, and a couple of weeks ago, the company officially announced that it’s now headed by Mr. Jean Ekobo. Some people around the message boards are still not happy. A few are even prepared to call the company “a scam” because of Mr. Ekobo’s name.
We don’t think that’s fair. We reckon that conclusions about a company’s strength should be drawn from thorough investigation, and not from the way the CEO looks or talks. Naturally enough, a thorough investigation is what we’re going to do now.
You’ll see right from the get go that although they are doing it for all the wrong reasons, arguing with the people who call ONOV “a scam” is going to be really difficult. Instead of having a real office, for example, the company uses a mailbox rental service.
Perhaps not surprisingly, the financial statement is pretty appalling as well. Here’s what ONOV recorded at the end of the second quarter:
cash: $7,689
total assets: $1,188,818
total liabilities: $1,027,362
NO revenue since inception
quarterly net loss: $30,615
The company’s financial situation was quite horrific a few months ago and there’s been no press release to suggest that it’s different now.
To top it all off, the stock’s behavior is rather strange. Yesterday, for example, it spent the majority of the session doing nothing, but at one point, it absolutely exploded. In a matter of about an hour, it managed to add nearly 43% to its value and it closed the day at exactly $0.10 per share. It must be said, however, that while this may look weird at first, it might just start to make sense once you see the emails that landed in our inbox mere hours after the end of the session.
Penny Stock Titans and its sister newsletters received $10 thousand and in exchange, they sent a total of four alerts, claiming that ONOV is about to explode today. The inexplicable surge that happened just hours before the emails might just suggest that someone knew about the pump, and that this someone decided to load the proverbial boat before everybody else.
Of course, there’s no way of knowing for sure whether that’s the case or not, but if it is, the people who jumped in yesterday might be in a hurry to exit their positions and secure their profits. And we all know what is going to happen if they do.
