Omni Ventures, Inc. (PINK:OMVE) broke up the climb at once. Yesterday, the stock lost 13.51% of its price, while trading 2.4
million shares on the market.
The most interesting fact about the current loss appears to be the fact that OMVE is falling down despite promotions.
The campaign started on Tuesday and it continued yesterday, worth $30,000 in total. However, the stock alerts fail to pump up OMVE so far and its next move is hard to be predicted.
At the beginning of this week, Omni announced the first positive results of its beta social media marketing efforts in promotion of its current collection and attraction of the new customers for future seasons. The news immediately supported OMVE stock price, though the up move got shortly broken.
In any case, Omni has not given up the fight for the gain yet. Yesterday, the company issued another press release to report that it has appointed a seasoned business development and entertainment executive to its Advisory Board, who would oversee the developing and launching of “2LOVE” Authentic Celebrity Designs brand.
The news seems good enough to push up OMVE stock price again, though the result is still to be seen.
Omni Ventures, Inc. is a development stage company working on a versatile portfolio of projects in commercial real estate, premium consumer brands merchandising as well as consumer services. Over the past months, the company’s stock has been often supported by promotions and made a few impressive gains. Nevertheless, these did not last long.[BANNER]
And while promotions and good news are coming up regularly, the annual results of Omni are delayed and traders can check out only the latest quarterly report of the company.
According to it, OMVE has registered zero cash reserves, negative working capital of $322 thousand and a net quarterly loss of $333 thousand. On the other hand, OMVE closed Q1 of 2011 with a positive net result of approx. $1.2 million, meaning that under some circumstances there is a chance for the company to become profitable.
However, Omni’s short-term debt is twice as big as its current assets, which will inevitably push the company into financial difficulties unless it secures additional financing.
