EMS Find Inc (OTCMKTS:EMSF) was established just few months ago through a merger deal between the publicly traded entity Lightcollar, Inc. and the private firm EMS Factory Inc. The newly established entity’s business plan is to develop a mobile platform that can help health care providers and consumers connect to a vast network of medical transport firms in the Canada and U.S.
In June, EMS Find reported it signed a Letter of Intent to get stake in Page Out. It is an innovative interactive system that streamlines the emergency response route in addition to providing real time status of team members and their response to emergency and dispatch. The Press Releases issued in last few weeks appears extremely promising. However, they cannot hide the main problem associated with the company.
As per the latest financial report, EMS Find reported zero assets and not to forget zero revenues. The liabilities came at $90,000 and net loss was $11,000. The anticipated quarterly report was supposed to throw light on the resources that EMS Factory forwarded to the newly formed entity. The report was expected to release in sometime in June. However, June has passed and even one week is over of this month, and there are no signs of 8-K filing.
EMS Find Inc (OTCMKTS:EMSF) has not only delayed the quarterly report but has also failed to complete its yearly report for FY2015. The company had submitted a Notification of Late Filing following which they have fifteen days extended period to complete the report. The surprising part is despite the depressing financials and delay in financial report, EMS stock has managed to make on high of $2.53 in June.
In last trading session, the stock price of EMS Find surged more than 3% to close the trading session at $1.23. The gains came at a share volume of 116,872 compared to average share volume of 258,983.