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The last two trading sessions have brought BioNovelus, Inc. (OTCMKTS:ONOV<\/a>) well above the quarter threshold – but why? <\/p>\nThe ticker jumped 28.57% on Friday, and another 47.22% yesterday’s session, bringing ONOV<\/a>‘s <\/strong>market cap to a whooping $22 MILLION. Such a turn of events suggests that either the company has done something to earn the investors’ interest or that it is on the receiving end of a paid pump.<\/p>\n But here’s the odd bit – neither of those seems true. There don’t seem to be any ongoing targeting ONOV<\/a> <\/strong>– not since the efforts of BlueHorseshoeStocks ceased about a month ago. There are no new official filings either – and it’s not like the last one could have impressed anyone:<\/p>\n No you didn’t read wrong, and no – this is not a mistake. A company that has FOUR DOLLARS to its name currently has a market cap of over $20 MILLION.<\/p>\n That pretty much sums up all that needs to be said about ONOV<\/a><\/strong>. Next to these numbers, even the fact that the company has $154 thousand worth of outstanding convertible notes that can be converted at undisclosed rates at undisclosed dates in 2016 doesn’t really mean much.<\/p>\n Still, investors might want to note that 2015 saw the issuance of 13.2 million of the company’s 83 million shares currently outstanding.<\/p>\n\n
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With all of these facts in mind, it should be pretty obvious how investors should regard