Anastas Gegov

Ominto Inc (OTCMKTS:OMNT) Takes A Beating

by Anastas Gegov September 24, 2015

Ominto Inc (OTCMKTS:OMNT, OMNT message board) has had a hard time in 2015 and this is evident by the charts. The ticker dropped below the 10 cent per share mark in the beginning of this month after a prolonged slide, but things had started to look a bit better more recently.

 

The company gathered momentum up the charts and it looked like it was head for the 20 cent per share mark, but it began to hesitate in the beginning of this week. Despite the fact that the company has been doing progress after the management changed we couldn’t expect the ticker to continue rising.

 

OMNT does have some pretty decent financials, but that doesn’t make the market cap seem any smaller. Here are some of the numbers of prime interest from the company’s latest financial filing.

 

  • cash: $2.4 million
  •  current assets: $10.8 million
  • current liabilities: $25.4 million
  • quarterly revenues: $7.8 million
  • quarterly net loss: $1.2 million

 

Pretty decent for an OTC marketplace listed company, but so is the market value of OMNT. Even after yesterday’s 12.79% drop that pushed the ticker to a close at 15 cents per share the market value is still around $80 million. The daily dollar volume, however, seem quite low and the 748 thousand shares that changed their owners yesterday generated only $115 thousand.

 

The company hasn’t issued any PR in the past several days so we might see the ticker slide even lower. In any case, you should be sure to do your due diligence and weigh out all the risks before putting any money on the line.

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