It has been two weeks since Omni Ventures, Inc. (PINK:OMVE)
was last promoted. As it is, OMVE is now in for another pump ride
on the charts.
Yesterday, OMVE went down $0.001, or 1%, to $0.099 per share, shifting a volume of more than 1.14 million, its third highest turnover for the last six months. The trading frenzy quickly paved the way for another paid promotional effort in support of OMVE. Because, a couple of emails worth a total of $10 thousand have just flooded our database with the sole purpose of creating better awareness about OMVE in the forthcoming session.
Founded in 2008, Omni Ventures, Inc. is a development-stage company focused on manufacturing both men's and women's clothing. The company is a regular SEC filer and therefore keeps a fairly transparent financial profile.
OMVE's financial performance for the third calendar quarter of 2011 indicates zero cash reserves, negative working capital of $322 thousand, as well as a net quarterly loss of $333 thousand. In a nutshell, OMVE's short-term debt is twice as big as its current assets, which will inevitably push the company into financial difficulties unless it secures additional financing. On the other hand, OMVE closed Q1 of 2011 with a positive net result of approx. $1.2 million, which is indicative of its high potential to turn profitable on a more consistent basis in the foreseeable future.