EMS Find Inc (OTCMKTS:EMSF) is Still Slipping

Stanislav (a/k/a Steve) Rubakh, EMS Find Inc (OTCMKTS:EMSF)’s CEO, has really had a hard time finding a solid penny stock company to run. Some years ago, he acted as President of Power Sports Factory which was traded on the OTC Markets under the PSPF symbol.

It must be said that he and his colleagues did have moderate success with this venture. At one point they even managed to persuade ex-racing driver Mario Andretti to put his name on their products. Sadly, PSPF later found itself in a bit of a financial mess and Mr. Rubakh and his colleagues soon started having problems paying the ex-racing driver. Predictably, a lawsuit followed which, as it turns out, marked the beginning of the end for PSPF. The company slowly sank into oblivion and in 2013, the stock was finally revoked.

Earlier this year, Mr. Rubakh took EMSF‘s helm shortly after the company exited a reverse merger transaction and a change in the business plan. When he took his position, he probably hoped that he can make investors a bit happier this time, but, several months later, things are not looking good.

EMSF was surrounded by controversy from the very beginning. The company website, for example, said that EMSFIND, the electronic platform that is supposed to improve emergency response time, will be available in early 2015, which was clearly a bit of a stretch. Shortly after we mentioned this in one of our articles, the page was edited and right now, nobody knows when the platform is supposed to be ready. That was far from the biggest problem, though.

Mere weeks after the new ticker symbol was assigned, EMSF fell victim to a rather substantial paid pump. A landing page first appeared and shortly after, Charles Moskowitz’s hard mailers started flying around.

EMSF did what many other pumped penny stocks would have done – it went up and it then came crashing down. After an impressive run from around $1.10 per share all the way to more than $2.30, it stumbled and it quickly wiped out a significant portion of its market cap while registering some pretty substantial volumes. Yesterday, it lost another 8% and it finished the day at a hair over $1.10 per share.

Not really the most impressive performance, but, considering Charles Moskowitz’s involvement, that’s hardly surprising. Nevertheless, some of you will probably think that, now that EMSF is back at its pre-pump value, it might just be presenting a buying opportunity.

Don’t forget, however, that at $1.10 per share, the stock isn’t exactly affordable. And if you’re buying at the moment, you’re pouring your money in a company you know very little about. When the merger was closed, Mr. Rubakh said in an 8-K form that the financial statements of the new subsidiary will be filed within 71 days. He did that 94 days ago. EMSF will also be late with the 10-K for the period ended March 31 which really leaves investors in the dark.

All they can do, in fact, is rummage through the older SEC filings. And they probably should because if they do it, they might find out that not that long ago, some individuals received about 18 million shares (after taking the 5 for 1 forward split into consideration) for $36,500.

Mr. Rubakh wasn’t involved with the company when this transaction took place, but we’re pretty sure that he knew about it when he was taking the helm. We’re also sure that he knows what the consequences of it can be.