Omni Health Inc (OMHE)

[lesgetrich]

The current price range is about as low as it's going to get. Based on their last financials, this stock should be trading at a minimum of about $.05/share. They previously announced that they would be restructuring their shares by converting common stock to preferred shares. The conversions would reduce the outstanding common stock of OMHE from their current 975,828,741 shares by 62% to 368,938,292 shares outstanding. Among other things, shareholders are waiting for them to complete this restructuring. If/when they do, the pps would be valued at a minimum of about $.13/share based on their earnings per share (EPS) and price earnings ratio (PE).

Long term this is a great investment. If you're looking for a quick flip trade, it will depend on when Omni decides to publicly outline their long term business plan and/or complete their share restructure. I expect we'll see that happen about the time they publish their annual 10-K financials which are due by July 31.

For more background on the company, check out the following post...

Omni Post # 16979