On The Move Systems Corp (OTCMKTS:OMVS) Rising Once Again

[[tagnumber 0]][[tagnumber 1]]We covered the stock of On The Move Systems Corp (OTCMKTS:OMVS) quite extensively in the beginning of the month and it was for all the wrong reasons. In the second half of July we saw the ticker begin to rapidly climb the charts and, as it was beginning to log in bigger daily dollar volumes it reached a price of over $3 per share.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The thing is that the upward run and the massive increase in daily volumes was mainly due to an expensive paid promotion. Stockpalooza bagged $100 thousand for their efforts in promoting OMVS, while Stocks To Buy Now (STBN) received $15 thousand and are going to receive the same amount on a monthly basis.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After Stockpalooza backed up in the beginning of this month we saw [[tagnumber 10]]OMVS[[tagnumber 11]] begin to crumble and lose altitude quite fast. By the finish of Monday’s session the ticker was trading at $1.24 per share, despite the fact that STBN touted [[tagnumber 10]]OMVS[[tagnumber 11]] once again in the previous week.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]One of the most obvious flags that was surely going to push the ticker down once the promotion ended was easily found in the company balance sheet. Here is what [[tagnumber 10]]OMVS[[tagnumber 11]] had at the quarter ended May 31, 2015.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 23]] [[tagnumber 24]]cash: $7 thousand[[tagnumber 25]] [[tagnumber 24]]current assets: $14 thousand[[tagnumber 25]] [[tagnumber 24]]current liabilities: $1.1 million[[tagnumber 25]] [[tagnumber 24]]quarterly revenues: $2 thousand[[tagnumber 25]] [[tagnumber 24]]quarterly net loss: $337 thousand[[tagnumber 25]] [[tagnumber 34]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]But that is just the tip of the iceberg. As we have written in our previous articles the company had previously issued convertible notes with conversion rates from $0.001 to $0.015, prices that remained unchanged even after the 1 for 500 reverse split that [[tagnumber 10]]OMVS[[tagnumber 11]] exercised in March this year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, the company stock has somehow managed to embark on another upward run and it added 18.84% to its value yesterday, closing yesterday at $1.64 with the help of yet another fluff press release. The 70 thousand shares that changed their owners at that price, however, were enough to generate only $111 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Considering the fluff PR, the horrible financials, the expensive paid promotion and the heavily discounted shares that might have seen the light of day we consider [[tagnumber 10]]OMVS[[tagnumber 11]] a highly risky stock. Do your own due diligence and weigh out the risks before you decide to put any money on the line.[[tagnumber 2]]