{"id":6517,"date":"2015-08-11T15:14:39","date_gmt":"2015-08-11T15:14:39","guid":{"rendered":"\/?p=6517"},"modified":"2015-08-11T15:39:24","modified_gmt":"2015-08-11T15:39:24","slug":"on-the-move-systems-corp-otcmktsomvs-turns-nasty-after-the-pump","status":"publish","type":"post","link":"\/articles\/on-the-move-systems-corp-otcmktsomvs-turns-nasty-after-the-pump\/","title":{"rendered":"On The Move Systems Corp (OTCMKTS:OMVS) Turns Nasty After the Pump"},"content":{"rendered":"\n

Four sessions and 49% lost. Four sessions and a drop from $3.25 per share all the way to $1.65. This is what On The Move Systems Corp (OTCMKTS:OMVS<\/a>) did last week and if you haven’t read through our articles, you might be wondering what has gone wrong.<\/p>\n

It was all due to a paid pump which initially pushed the price to levels that it wasn’t really prepared to sustain. More than $100 thousand was splashed out on the promotion which consisted of some emails and ads placed on various websites. The results, at first at least, were quite remarkable. In a matter of less than two weeks, the stock surged from under $0.40 per share all the way to a high of more than $3, but, as we mentioned already, the ticker ran out of steam pretty quickly and it’s now tumbling down. About twenty minutes after today’s opening bell, it’s a further 6% down. <\/p>\n

The thing is, the promotion seems to be well and truly over and that is undoubtedly a good thing because we should finally be able to see what the ticker can do on its own. Some people might even be thankful for the pump because they’ll look at the chart and they’ll think that the crash has now provided them with an excellent entry point. But is this really the case?<\/p>\n

If you open the company’s profile at Yahoo! Finance and skim through the headlines, you might be taken by the liberal use of words and phrases like “skyrocketing<\/em>” and “great market potential<\/em>”. Take a closer look at the press releases, however, and you’ll notice that the bombastic headlines aren’t really backed up by any serious information. In fact, on some occasions, OMVS<\/a><\/strong>‘ press releases sound positively fluffy.<\/p>\n

On August 6, for example, they talked about Uber’s valuation and they called one of the hottest transportation network companies in the world their “fellow shared economy pioneer<\/em>”. You don’t really need to poke that deep to see that drawing parallels between OMVS<\/a><\/strong> and Uber isn’t the most appropriate thing in the world.<\/p>\n

After all, it was recently estimated that Uber’s is worth around $50 billion. OMVS<\/a><\/strong>‘ market cap, on the other hand, should be sitting at $3.8 million and even that could seem like a bit of a stretch considering the absolutely catastrophic financial statement:<\/p>\n