On The Move Systems Corp (OTCMKTS:OMVS) Keeps Climbing

[[tagnumber 0]][[tagnumber 1]]The past few months have been quite volatile for the stock of On The Move Systems Corp (OTCMKTS:OMVS), which reached highs of around $7 back in the second half of May before embarking on a disastrous descent that obliterated as much as 95% of its value by the middle of the past month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The second half of July, however, was more than satisfying for shareholders as we saw [[tagnumber 6]]OMVS[[tagnumber 7]] rapidly climb the charts, with an obvious intent to penetrate the $2 per share barrier. The company has finished in the red only one time in the past seven consecutive sessions while it is being promoted, which is rather strange, considering the fact that [[tagnumber 6]]OMVS’s[[tagnumber 7]] fundamentals are rather disappointing.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $7,154[[tagnumber 15]] [[tagnumber 14]]current assets: $14,654[[tagnumber 15]] [[tagnumber 14]]current liabilities: $1,132,843[[tagnumber 15]] [[tagnumber 14]]quarterly revenues: $2,250[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $337,383[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those were the numbers contained in the company’s financial filing for the quarterly period ended May 31, 2015 and paint just a small part of the far bigger and uglier picture. Let’s remember that back in May the company performed a 1 for 500 reverse split which was one of the reasons for the increase in price.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]As we noted in our previous article, however, the company has managed to accumulate around [[tagnumber 6]]$1.3 million in convertible notes[[tagnumber 7]] that can be turned into common shares with fixed prices ranging from [[tagnumber 6]]$0.001 to $0.015 per share[[tagnumber 7]]. Considering the fact that between April 22 and July 10 a total of [[tagnumber 6]]555,000 shares[[tagnumber 7]] of the company common stock saw the light of day at a price of [[tagnumber 6]]$0.01 per pop[[tagnumber 7]] the current price shows a great opportunity for the people owning them, who are not even obliged to inform the general public about their trades.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The Friday session left [[tagnumber 6]]OMVS[[tagnumber 7]] 22.95% higher, at $2.25 while a total of 334 thousand shares changed their owners, generating $766 thousand in daily dollar volume. Today we see that the ticker is 48.44% up as of the writing of this article, sitting comfortably at $3.34 per share and it might continue to grow.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This, however, doesn’t mean that we may not see another round of corrections driving the company stock in the ground once again. Doing your due diligence and weighing out the risks before putting any money on such volatile tickers is absolutely crucial.[[tagnumber 2]]