If you think you heard this story before, you’re right. On The Move Systems (OTC: OMVS) has been a short term traders’ dream. The company has already seen 2 separate spikes and based on today’s action, we can be in the midst of a third.
3 Month Chart
In late April to early May, the first run on the announcement of a merger acquisition of “RAD” (see today’s PR below) saw the share price rise from $.021 to $.105 (+500%). When profit taking happened and the excitement wore off, (merger is suppose to take place by August 11, 2017) short term impatient traders jumped ship for the next hot stock.
In early June it was “Deja Vu” all over again as the company had dipped to a low of ($.0255 then spiked to a high of $.134). This was another 525% gain.
Being that investors were closer to that magical 8-11-17 cut off date, it did not dip as low as before. A few times it may have brushed the high .03’s but a 3rd spike is in the works as the date is only about 1 month away. Volume is up on today’s press release. As on 12 noon EST. OMVS was trading at $.06 (+50.0%) on 6,323,848 volume for the day.
OMVS Successfully Completes Due Diligence Of Robotic Assistance Devices
HENDERSON, NV — (Marketwired) — 07/06/17 — On the Move Systems (OTC PINK: OMVS) is pleased to announce that it has successfully completed its due diligence of Robotic Assistance Devices (RAD – www.roboticassistancedevices.com) and is currently preparing the required disclosure documents and financial statements in conjunction with company auditors and RAD’s management. OMVS expects to complete the acquisition of RAD by August 10, 2017 as previously announced. “We are looking forward to completing the acquisition with OMVS,” said Steve Reinharz, President and CEO of RAD. “We are confident that the combined teams of RAD and OMVS will lead to a very fruitful and successful partnership.”
RAD expects to deploy robots to end users in July. To date RAD has commitments for 15 robots for total contract values of approximately $1.5 million. OMVS has successfully completed its due diligence process on RAD as part of the binding LOI that was entered into last week for the purchase of 100% of RAD by OMVS. It is anticipated that the acquisition will close before August 10, 2017.
RAD currently has a sales pipeline of over 50 Fortune 500 companies and over 25 qualified dealers and distributors that have a combined customer base of more than 35,000 end user corporations.
For further information please refer to www.sec.gov
Disclosure: The author/owner of psinvestor.com has no position in this stock, nor has he been compensated to mention the company.
