In the last trading session, the stock price of On4 Communications Inc (OTCMKTS:ONCI) declined over 30% to close the day at $0.00300. The decline came at a share volume of 147.27 million compared to average share volume of 153.28 million bringing the market cap to 9.55 million.
On4 Communications updated on its primary objectives and vision by releasing a letter to shareholders in June 2016. The company stated that they have two immediate primary objectives, and they are share price appreciation and revenue creation. They are a holdings firm, and as the parent entity On4 will hold a comprehensive portfolio of healthcare-related firms that they both acquire and start. If there exists one factor that they anticipate this letter communicates it is that the management is not thinking small. They are planning big and disruptive and in the coming weeks, data will be released that brings this update into clearer focus.
Becoming fully reporting is a major step in what On4 Communications considers will be a significant business journey. The perspective is set on a higher exchange, but immediately validating that they are a cut above a conventional typical pink sheet firm is of utmost importance to management. The best way to start achieving this is to develop a culture of transparency that is seen with a fully reporting firm.
They have identified an efficient PCAOB certified accounting company that could close a firm audit and submit all/any additional paperwork required with the SEC for On4 Communications to record fully reporting status.
These are truly historic and exciting times for the company. The first child firm that On4 will develop is a disruptor in the dental-care market. Several deals are on the table between them and networks of elder-care centers for providing on-site dental care on a regular basis. All of their equipment will be shifted inside each facility so people don’t need to go outside to a nearby clinic or a mobile bus.