In the last trading session, the stock price of On4 Communications Inc (OTCMKTS:ONCI) jumped more than 33% to close the day at $0.00200. The gains came at a share volume of 210.51 million compared to average share volume of 130.80 million.
On4 Communications last released its PR in July, wherein it stated that it has finalized a securities purchase deal with Blackbridge Capital, LLC. Pursuant to the deal terms, Blackbridge has given its nod to invest up to $500,000 in lieu for the firm’s common stock. The sale of stock is subject to the firm filing of a Form 1-A Regulation ‘A’ Offering Statement with the U.S. SEC, the prerequisite thereof by the U.S. SEC and the fulfilment of customary terms of issuance and sale comprising the final pricing of the equity.
The buy price will be dependent on the lowest trading rate of the On4’s common stock as posted on the OTC Bulletin, or other relevant market, during the ten trading days immediately previous to the date the firm’s Form ‘1-A’ Offering Statement is approved by the SEC.
Blackbridge Capital has finalized the commitment of $500,000 in the next 2 years to support the expected exponential growth of company. At the same time, the firm intends to use the capital from this investment to buy dental equipment and chairs.
Steve Berman, the CEO of On4 Communications, said that they are extremely excited to be working with a firm like Blackbridge Growth Fund. They offer extensive knowledge of banking expertise and experience, which is something they have been looking forward to in the past three months. He further added that they will be acquiring mobile equipment and dental chairs which will distributed to different locations.
Alexander Dillon of Blackbridge Capital said that they are thrilled to finally get an investment concentrating on the dental service segment to their healthcare portfolio. They believe On4’s expansion plan will make them a strong growth play with robust catalysts for explosive revenue.