Kaloyan Gadzhev

On The Move Systems Corp (OTCMKTS:OMVS) Gets Ridiculous Pumps

by Kaloyan Gadzhev August 20, 2013
OMVS_chart.pngIn the last 24 hours we have received more than a dozen pump emails about On The Move Systems Corp (OTCMKTS:OMVS, OMVS message board). Tout emails are usually full of baseless claims and exaggeration, and sometimes they just ridiculous - as is the case with OMVS.

The latest 10-Q of OMVS was filed on Jul. 22 and covers the quarter ended May 31. It reveals that at the time the company had a little over $37 thousand in cash and more than $600 thousand in total liabilitie, including more than $200 thousand in convertible notes with conversion price around $0.01 per share.

The company's dwindling business was focused on mobile electronic services and never brought a dime of profit. Then, out of the blue the OMVS decided to turn to the travel online industry.

Yesterday morning the company boldly announced the official launch of its new business model and unveiled its new website. At this point the site is nothing more than an advertisement of OMVS and offers nothing but forward-looking statements and some basic information on the company.

Earlier today, OMVS issued another press release. The headline claims OMVS is lining up new acquisition targets, although there's nothing concrete in the release itself. Keeping in mind the underwhelming balance sheet of the company and the lack of a working product, talking about acquisitions is hardly realistic.

Speaking of things which don't seem to take reality into consideration, here is an example of what the pumpers are saying about OMVS. I will let readers go through the emails if they want, but I can't refrain from quoting this line: "OMVS has turned the markets completely on its head, rallying more than 3600% percent since August 13, 2013."

The charts and the historical date we have, all show that this claim is simply not true. This doesn't really come as much of a surprise, considering it's the same outfit which touted FCCC Inc (OTCMKTS:FCIC) and Interactive Leisure Systems Inc (OTCMKTS:IALS).

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