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OMCY IS AN EMPTY SHELL, DO NOT BUY BASED ON FAKE DD
OMCY DOES NOT OWN Omnicity, Inc. anymore, nor does OMCY own Broadband Networks. Broadband Networks is a private Co. that now owns Omnicity Inc., which makes both companies private and OMCY has no ownership of either one.
Its sort of confusing, but Omnicity Inc was a SUBSIDIARY of Omnicity Corp (OMCY). So Omnicity Inc IS NOT OMNCY, IT WAS OWNED BY OMCY. Subtle difference, but that will be critical in realizing OMCY is worthless. So when Omnicity Inc went Bankrupt, Omnicity Corp(OMCY) did not. Carefully read this article describing what happened to Omnicity, Inc.:
"Omnicity, Incorporated filed for Chapter 11 bankruptcy protection on Sept. 29, 2011, with the U.S. Bankruptcy Court in the Southern District of Indiana. A reorganization plan was approved, and ownership of the company was transferred to Broadband Networks."
http://www.insideindianabusiness.com/newsitem.asp?ID=56919
So private investors bought Omnicity Inc, which had some value. They DID NOT BUY Omnicity Corp (OMCY), and OMCY shareholders get nothing. In fact, OMCY could possibly be sued to cover Omnicity, Inc deficit to creditors, but OMCY has no cash to pay that anyways. Corp OMCY is now just an empty shell with a revoked license from Nevada SOS.
http://nvsos.gov/SOSEntitySearch/corpActions.aspx?lx8nvq=bqVtyrE0BQIVvY7MssmazA%253d%253d&CorpName=OMNICITY+CORP.
Omnicity Inc is now reregistered as a private company (notice no share counts on the SOS page)
https://secure.in.gov/sos/online_corps/view_details_ppv.aspx
Broadband Networks owns it now, OMCY doesn't. Broadband Networks is a private company that bought Omnicity Inc through bankruptcy court. Notice no share count for Broadband Networks, either
https://secure.in.gov/sos/online_corps/view_details.aspx?guid=5CDB2A91-FF97-41CE-8A83-0236AE9A018A
Follow the FACTS and not the LIES, and you will find that OMCY has nothing, no reason to buy at all. All the volume was most likely based on FAKE DD.
THANKS! I WILL DIG IN FURTHER EOM
Impressive for Omnicity...alas OMCY and Omnicity are no longer affiliated after the Chap 11 bankruptcy. In fact, before the BK, OMCY was pretty much a joke:
Contact Broadband Networks, and ask them yourself if this info has anything to do with OMCY. It does not.
Omnicity Inc and Broadband Networks are both private companies. OMCY is now a shell. Do your own DD and be wary of deceptive OMCY posts
Actually the DD is terrible...5 mins of research proves that OMCY is an empty shell after Chapter 11 Bankruptcy.
http://www.ibj.com/bankrupt-omnicity-acquired-for-876000-by-four-investors/PARAMS/article/38314
A group of four investors has acquired Omnicity Inc., a bankrupt provider of rural broadband services, by agreeing to pay off an estimated $876,000 in company bills.
The deal, approved last month by the U.S. Bankruptcy Court in Indianapolis, gives the investors, whose company is called Broadband Networks Inc., Omnicity’s 38-person operation, based in Rushville, as well as its 270 Internet towers around Indiana and Ohio.
Broadband’s bid, put forth in the spring, was the only one for Omnicity until early November, when a group of nine competing broadband companies offered $1.6 million for Omnicity.
But U.S. Bankruptcy Judge James Coachys rejected that bid as too late, allowing Broadband’s bid to go forward.
Dr. David Bash, one of the four new owners of Omnicity, said they do not plan to continue Omnicity’s rapid acquisitions of other companies, but instead hope to improve the quality and reliability of the company’s service.
“We hope to have a better management of capital, and hopefully plow it back into the business,” Bash said during a conference call with reporters on Wednesday morning. “Strategically, we’d be more interested in just growing our [existing] business as opposed to acquiring other providers.”
Omnicity, founded in Indianapolis in 2003, grew rapidly via acquisition, and built up as many as 12,000 subscribers in Indiana and Ohio. But the company’s financial troubles and bankruptcy have led to its subscriber total dwindling to just 5,000.
Broadband will keep Omnicity executives Jeff Garman and David Bradford on board, but in new roles, Bash said.
“They’re not necessarily the reason for the bankruptcy,” Bash said. “We think this is a talented crew.”
The new CEO of Omnicity is Jeff King, a former executive vice president for Time Warner Cable and former president of Road Runner High Speed On-Line.
King and Bash joined with two other cable industry veterans—Buz Nesbit and Mike Sellers—to acquire Omnicity.
Their bid to acquire the company also includes a commitment to pay up to 3 percent of the claims by unsecured creditors of Omnicity if the company starts generating profits again. As of September, Omnicity was pulling in revenue at an annual rate of $3 million but losing about $80,000 a year.
Omnicity’s unsecured creditors are owed somewhere between $3 million and $3.9 million, according to an analysis filed with the U.S. Bankruptcy Court. So the maximum Broadband will have to pay is $116,000.
Bash said all secured and unsecured claims would be paid as agreed. But Jeff Hokanson, an attorney at Frost Brown Todd who represents the unsecured creditors, said receiving 3 cents on the dollar means the unsecured creditors essentially receive nothing.
“No one is being paid enough to even pay their attorney to open a piece of mail,” Hokanson said.
Omnicity filed for Chapter 11 bankruptcy protection in September 2011 after getting hit with five lawsuits from acquired companies that claimed they had not been paid.
The DD is no good. Notice the ticker symbol OMCY doesn't appear anywhere on the website or press release that were provided as DD. OMCY has not released any information at all since Omnicity Inc went bankrupt in 2011
Exactly like MGF*, take a look, same stock manipulation strategy. No bueno
This is funny. The spread is gigantic on this thing and somebody came in and bought 1000 shares at the ask in the last 10 minutes of trading. The ask is 2 times the size of the bid. Hilarious!! Still watching this and kinda like it, but this manipulation is funny.
Great DD on this one HDOG...I'm coming aboard Next week.
up 109% LOL - like the close - a precursor for next week!
Wow too many inpatient traders. This is the best time to buy. Great buy hDOGTX
selling for loss helps me accumulate cheapies ;) lalalala
as I am 100% confident Braodband is coming in per Cindy the TA convo.....
It will be soon lots going on
Still here, not much going on now waiting for the update as well.
Got plenty of shares already, but would like some more sub 0.005's as well, got to learn to no longer hit the ask, take care, see u tomorrow, ANT
Yeah no worries. We wont be chasing but they will
Happy to have someone on board with patience, thx, ANT
No worries. This story is about to unfold and I am loaded and waiting. I have missed huge moves by selling early in these exact scenarios. I have seen what can happen when traders wait for the lull to end
No diluting. Just no one buying. Waiting for update
Anyone familiar With mm MAXM? Are they Dilutors..Dont like they are only on the ASK..appreciate anyone who cares to share, thx!
somebody slapped the ask +94% for now
0.0041 X 0.0065 big spread, not a time to sell imo ANT
Any price under .01 is good because with this float and with filings, it will move up in 1/2 cent increments quite quickly
Not worried at all. We haven't even started yet. .10 + coming
Cindy got too many phone calls, she is pissed off~
But further confirms what we know is abt to happen~
Im still here. Own enough though. Time for action
yup, and no time to sell some either, and i already have plenty of those in my account for now, dead money, although one filing and its on, subpennies lol ANT
0.0034~~ am i the last one on this? Hmmm ANT
zzzzzzzzzzzzzzzzzzzzzzz
Any news on your call HDOG?
I am in some .007 and .0068 good luck folks
just keeps going lower and lower--something not right here
it's holding 007 for now, cheap imo, ANT
OMCY IN SOS will most likely first place updates posted
https://secure.in.gov/sos/online_corps/
Search Omniciy.....
Or contact $OMCY TA Info Transhare corp
englewood colorado
# Office (303) 662-1112
Spoke with cindy walker at the TA and she will be getting the updated information on the company then will update the OTC board.
she owns the OMCY account at that number above
she has OMCY on her desk and is working it
the ss and informaiton should be updated soon
Need an update or filings.... calling co today~ $OMCY
just keeps going lower .0066x.007 wtf
I will wait for news and filings. I like the mgt and the business. Got quite a bit actually. First sell at a nickel. Then ride out a bit.
Broadband bb, and if it's possible, i'll take more under 0.01, unreal, ANT
I hope so...Update is a need for $OMCY to move up. GLTA
Also, If you want to check out other good plays check status of my profile. http://investorshub.advfn.com/boards/profilea.aspx?user=172211
I feel like we'll see filings this week......
OMCY monster move over 02 coming.
one douch under .022, lolz
large spread because it is thin, this will fly on more details, they will come, ANT
this stock is standing firmly. 0.009s up.
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Investor Relations Paradise Coast Group 1-877-888-0459 (Investor Relations Inquiries) ir@omnicitycorp.com | For all other inquiries, call Omnicity's office at 1-866-586-1518 Omnicity Corp PO Box 8 Rushville, IN 46173 |
Omnicity Corp. (OMCY) provides broadband access, including advanced services of voice, video and data, in un-served and underserved small and rural markets. The company aims to be the premier consolidator of rural market broadband nationwide. Leveraging management expertise, Omnicity’s strategy is to provide a total broadband solution and continue rapid growth through acquisitions, organic growth and partnerships with Rural Electric Municipal Cooperatives and Rural Telephone Companies. The company’s target markets are locations better suited to wireless transmissions than traditional hard-wire operators. It has been estimated that at least 40 million rural and small market homes, businesses, government agencies and schools have inadequate high-speed Internet service, representing a large growth opportunity. Building a nationwide wireless network, Omnicity will be able to deliver high-speed Internet access to rural subscribers more cost-effectively than traditional cable or fiber optic models since hard-wire systems are generally much more expensive to build than wireless networks. Reduced network development costs means lower infrastructure costs per subscriber for wireless operators as compared to comparably-sized traditional hardwire fiber-optic systems. Omnicity is led by an experienced broadband operations team with extensive wireless broadband/ISP expertise as well as the capability to consolidate large numbers of businesses through a strategic roll-up strategy. Over the next five years, the company projects a growing customer base of 170,000 subscribers, increasing margins and growing revenues of nearly $87 million. News: http://finance.yahoo.com/q/h?s=OMCY.OB
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