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ZOOMSAFER/COGOB is looking like a retail version of bSafeMobile. There's a link to Amazon for it:
https://www.amazon.com/dp/B07XB3LSK1
NEW PRODUCT FROM ONCI!!!
FINDING THE NEWS BEFORE THE NEWS!
Product description
The cogoB smart device connects using Bluetooth to your smartphone. It prevents accidental use of the smartphone while driving, silences app notifications and automatically manages call and text communications. An automatic response can be sent to callers with optional secure link to your current location. The cogoB can be configured using one of the FleetSafer, ZoomSafer or bSafeMobile Apps created by Cogosense Technology.
WOW! I think I found one of our private labels!
LOOK AT THIS:
https://www.zoomsafer.com/
New name, new product! CHECK OUT THE BEACON!
THIS IS A BRAND NEW WEBSITE, DATED 2019!! Zoomsafer was the original name for bSafeMobile but is now back with a new website.
ONCI is expanding and developing new products!
Other ONCI product websites:
BsafeMobile.com
Fleetsafer.com
Cogosense.com
CtheRoad.com
DriveCommander.com
Eyes-up.co.uk
Facts:
https://www.carprousa.com/Car-Dealerships-Behind-the-Numbers/a/53
There are 16,708 new car dealerships in America as of the end of 2016. This does not include USED car dealerships. The total number of total dealerships including used car dealers is 34,708.
Those dealerships combined sold 17,465,020 new vehicles last years.
Call a few, see if they carry ONCI product. Oh, the 12 dealers called didn't have it? Must be a scam!
SMH
How many 'scams' are pink current?
https://www.otcmarkets.com/stock/ONCI/security
Authorized Shares
5,030,000,000
04/30/2019
Outstanding Shares
3,532,504,870
04/30/2019
Float
3,254,427,154
04/30/2019
Market Cap
1,413,002
https://backend.otcmarkets.com/otcapi/company/financial-report/223377/content
TOTAL ASSETS OVER 10 MILLION
Q1 & Q2 2019 = 2.915 million in revenues
Q3 coming 9/15 ONCI ALWAYS ON TIME
June 2018 Semi annual report share structure shows:
Total shares authorized: 5,030,000,000
Total shares outstanding: 4,436,047,369
https://backend.otcmarkets.com/otcapi/company/financial-report/196024/content
June 2019 Semi annual report share structure shows:
Total shares authorized: 5,000,000,000
Total shares outstanding: 3,532,504,870
https://backend.otcmarkets.com/otcapi/company/financial-report/223377/content
Bid .0004 building fast.
.0004 going bye bye. Record Q3 coming next week.
Volume next week will be insane IMO.
Do you have a link that shows the revs were/are fabricated? Verification goes both ways.
GLTU
Mikey,
.0003 bid at 4 million at the open now at 53 million.
Record revs coming once again, IMO.
GLTU
Gastric,
SB touted the AN and CM deals, but conveniently left out the fact that he sold small independent dealer groups through one of his reps. I believe the AN deal was about 12 locations in the southeast (TN, KY, WV) and CM was around 5 locations in Florida. He made it sound like he had a chain-wide distro when in fact it was a deal done autonomously from corporate to a small number of stores.
What he gained from this are vendor numbers with both CM and AN and a test run of the product in some stores. It remains to be seen of these small deals will result in bigger deals.
IMO of course.
SB does NOT offer product on consignment. All deals are provided payment terms, net 90 to 120 days IMO. Dealerships are notorious for paying their bills late, thus resulting in a high accounts receivable on the books. As we have seen, revenues continue to increase along with A/R.
IF, and I say if product is being shipped on consignment, then there would be no A/R as it is so often pointed out. But since there IS a high A/R (invoiced bills owed on shipped product), then we know for a fact there are no consignment deals being made.
Consignment = free product until the consumer purchases it. Unsold product is returned if product is not sold. These items are NOT invoiced until sold.
Actually, more than a couple businesses were revealed. Just go back and look at some older PR's. Garden City Nissan and Penn Auto were two.
These dealerships were subsequently hounded with investor phone calls, so much so that they both cancelled their orders with On4. The Garden City deal was worth over 1mm, a bad blow to the company who at the time was only 1 year old.
If this were your business, would you continue to publicly list your clients if there was a chance you would lose them?
Think about it: if SB mentioned a client name today, wouldn't you agree they would get slammed with investor calls and emails looking for verification?
I have to agree that it's in the company's best interests to NOT reveal client names at this time. It's #commonsense
ONCI quite oversold, just have to dig through the flippers.
How many 'scams' are pink current?
https://www.otcmarkets.com/stock/ONCI/security
Authorized Shares
5,030,000,000
04/30/2019
Outstanding Shares
3,532,504,870
04/30/2019
Float
3,254,427,154
04/30/2019
Market Cap
1,413,002
https://backend.otcmarkets.com/otcapi/company/financial-report/223377/content
TOTAL ASSETS OVER 10 MILLION
Q1 & Q2 2019 = 2.915 million in revenues
Q3 coming 9/15 ONCI ALWAYS ON TIME
http://www.greensheet.com/newswire.php?flag=display_story&newswire_id=49957
On4 Communications reaches insurance compliance milestone
Wednesday, June 05, 2019 — 11:42:47 (EDT)
LOS ANGELES, June 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- On4 Communications, Inc. (OTC: ONCI) is very pleased to announce that a major insurance compliance milestone has been reached on the developmental pathway to bringing its new telematic distracted driving apps, “bSafeMobile” and “FleetSafer”, to market.
CEO Steve Berman explained, “With the recent arrival of our new beacons from our technology partners in Asia we have updated our proprietary software to fully comply with the revised requests of our insurance providers. These requests have caused a bottleneck which has slowed bringing our apps to the insurance market, but it has now been overcome.”
“Implementing these updates assures that our apps now meet the insurance companies’ most current and stringent guidelines. The items of concern were a more fine-tuned control of actions like speeding hard braking, hard acceleration, and hard turning. Finalizing these adjustments means we not only exceed the insurance providers’ standards, but we position ourselves far ahead of our competitors in terms of safety, compliance, and overall performance. On4 Communications simply has the most effective product in this sector to meet the needs of individual drivers, auto rental companies and other fleet sized clients. The ultimate benefit offered by our technology, of course, is the protection of the safety and lives of drivers from distracted driving mishaps, but our clients are also quick to see the benefits from a ‘bottom line’ perspective. Auto collisions on average cost insurance companies $2600 per incident each way. Avoiding such fender benders will save our clients millions of dollars annually.”
Berman concluded, “Furthermore, I’m gratified to share that the latest financials for On4 Communications are expected to be released on or around the 15th of June. Our shareholders will be thrilled to learn that we have posted another record breaking quarter. This and many other exciting developments will be unveiled in the upcoming weeks and months. We are diligently working to bring the ‘bSafeMobile’ and ‘FleetSafer’ apps to the insurance market in a timely fashion and to maximize shareholder value across our various ventures.”
On4 Communications will be meeting with insurance providers and rental car companies (both individual and fleet) in the upcoming weeks for talks to confirm the apps’ compliance functionality and to showcase market ready status.
PHIL we are holding a bunch of .0001's.
Agreed--it would be the kiss of death if Berman was overseeing the day-to-day operations of Cogosense. Cogosense is a independently run company, with the original brains of the operation (Williams and Vanderleeden) still at the helm.
Berman is an investor (53% ownership at the moment) with intentions to purchase to entire company on the books. He also has the right to sell the product to HIS contacts. Berman initiates the deal and leaves the paperwork and shipping process to Cogosense.
Anyone contacting the company directly would deal directly with them.
It's very simple. It's not unlike Home Goods being owned by TJX companies. TJX is the parent company, but Homegoods, Marshall's, etc are run independently.
Now THIS is DD. GREAT post. It shows that Fleestsafer is part of a real business (Cogosense) and there is confirmation that the relationship with ON4 is just as real.
I received the same confirmation in an exchange with Olen Vanderleeden--that there is a working relationship with On4 as an investor and reseller of the product. That is exactly what we've been hearing from SB all along.
My note from OV:
Yes we have a relationship with ON4 but I’m not allowed to provide details, official communication is supposed to come through Berman and ON4. We believe in the product too I get calls everyday asking about it.
And to add, there is a marked difference between using the dongle and not using it. No Admin. Without it, the product becomes voluntary. With it, the user has no choice but to adhere to the restriction.
I look forward to hearing your report.
Dewm--there's no denying that ONCI has purchased Cogosense, many external links have been provided:
http://vistapointadvisors.com/wp-content/uploads/2017/10/Mobile-Update-Q3-2017.pdf (SEE PAGE 10)
With payment now at more that 50% of the 2.5 million purchase price, ONCI is paying this down toward 100% ownership.
Current market cap is 1.4 million. Even with Cogosense's 2.5 million in value alone, ONCI should be valued at least double its current PPS. Add in 3 million in revenues for the first 6 months, and total assets at 10 million, how anyone can miss the screaming buy signal here is mind boggling.
GLTM
Great post.
ONCI Product videos:
June 2018 Semi annual report share structure shows:
Total shares authorized: 5,030,000,000
Total shares outstanding: 4,436,047,369
https://backend.otcmarkets.com/otcapi/company/financial-report/196024/content
June 2019 Semi annual report share structure shows:
Total shares authorized: 5,000,000,000
Total shares outstanding: 3,532,504,870
https://backend.otcmarkets.com/otcapi/company/financial-report/223377/content
The following summary shows that the company has booked about $5.5M in revenue over the past 12 months,
Turned a net profit of $2.5M with a 46% profit margin,
Received $2M in CASH from sales,
Reached over $10M in assets including an increase of $1.25M of cash invested in the Distracted Driving Solutions business, Cogosense, and the startup Craft Cannabis/CBD business, Sifthouse BC, while the liabilities are only $5.5M (of which only $233K are convertible notes) - resulting in Shareholders' Equity of +$4.75M.
Undervalued? No question. Even the most mundane business catagories command a PE ratio of 10x or better. 10x ONCI's profit over the past 12 months is 10 x $2.5M = $25M. This valuation is over 10x the current market cap of ONCI, which is ~$2.1M when the pps is 0.0006. And ONCI's business categories are anything BUT mundane. A PE ratio of 25+ is likely, IMO, when certain milestones are achieved and it breaks away from this penny mentality that retail has been favoring so heavily until now.
I say this is only possible because a small handful of retailers are playing with 50-100M shares each, and it's been fairly easy to control the price with timed buys and sell blocks during the continuous moderate dilution from the note holders and SB's cash-raising shares over the past year+ -- until anytime now. One announcement of a reasonable breakthrough, and many will be surprised to see that ONCI can run just as fast and hard in 2019 as it did in 2017.
Thank you MFN
Dewm,
There has been some pretty significant accumulation at .0004. I can attest to this as myself and a few contacts have been at it hard over the last few weeks.
In six weeks time, there has been over +400M accumulated, from what I can see.
What's stealth accumulation? It's positive accumulation while the pps is declining.
It happened like this only one other time in the recent nearly 3-year history of ONCI.
This was in the summer of 2017 - just before the run to 2 cents.
The O/S at that time was higher than it is right now.
AND NOW...
we have $5.5M in revenue;
We have $2M CASH collected over the past year.
We have over $10M is assets.
...and (now, less than) $233K in convertible debt, with over $2M of liabilities cancelled and paid off since the 2017 run.
... AND $2.5M in PROFIT generated over the past year.
Thank you MFN
$ONCI 2019
2019 (and 2018 for that matter) have been painful for the ONCI stock but not for this rapidly growing little company. Despite a share price in the lower trips, the company is making more money than ever. The Q2 2019 financials (https://backend.otcmarkets.com/otcapi/company/financial-report/223377/content) attest to that, showing nearly 3 million in revenues with the potential for another 3 million more in quarters 3 & 4. Claims of revenues being fake are as fake as the claims being made. With on-time quarterly reports keeping ONCI PINK CURRENT (https://www.otcmarkets.com/stock/ONCI/security), and a registration filing with the SEC showing the exact revenues in the fins (https://ih.advfn.com/stock-market/USOTC/on4-communications-inc-ONCI/stock-news/79455922/registration-a-offering-under-the-securities-act-o), it is prudent to believe the revenues to be 100% accurate and valid.
But what about the A/R? Well, if the revenues were fake, why not fake the A/R as well then? This further shows the revenues to be 100% accurate, validated with an attorney letter (https://backend.otcmarkets.com/otcapi/company/financial-report/217451/content). The growing A/R is not the concern most believe it is. It justifies the fact that business is growing, and that additional revenues are coming in future reports. The more business you do, the higher the A/R. As long as the revenues grow concurrently with the A/R, then there is only future growth to look forward to. ONCI is providing their products with payment terms of 60 to 90 days, not always paid on time. But they WILL be paid, and the revenues WILL continue to grow.
ONCI’s market cap end of today is just over 1 million dollars at $1,059,751. Sheesh people, their revenues are 3 million for the first half of the year, with assets valued at over 10 million. This is ridiculously undervalued. As of the last report, the float is 3,254,427,154 with AS at 5 billion. This balance reflects the recent share reduction of 1.3 billion shares.
Now…what about the product? ONCI now owns more than 50% of Cogosense, which is the bulk of their current business model. The distracted driving apps are constantly being updated, and have been updated to fully comply with the revised requests of our insurance providers. (https://www.otcmarkets.com/stock/ONCI/news/On4-Communications-Inc-Announces-Major-Insurance-Compliance-Milestone-Reached-in-Bringing-Distracted-Driving-Apps-to-Mar?id=230671) The technology here is nothing short of amazing, a hardware/software tandem that allows an admin (parent or fleet owner) to manage and administer every action taking place in the vehicle, from hard braking to speeding to tampering with the hardware. The primary focus is that it stops the driver from using their cell phone while the wheels are in motion. Any parent of a new teen driver can rest easy knowing their child will not be texting and driving. Same applies for the fleet owner—the stats Fleetsafer delivers for just 1 or hundreds of vehicles is pretty awesome. Current fleet clients include Chevron, AT & T, Sprint, and more (https://cogosense.com/distracted-driving/partners). There’s a lot of competition here in the marketplace, proving there’s a growing need for this type of product. But let this be know once and for all—no other competitor’s product owns the Cogosense patent, meaning their products are driver voluntary. ONCI’s product is controlled by the administrator—the parent and the fleet owner.
But this is just the beginning for ONCI. There are other apps in development, such as a child car seat alarm. This man wishes he had one: (https://www.nytimes.com/2019/07/29/nyregion/twins-hot-car-father.html). ONCI products, plain and simple, strive to save lives. That in and of itself is worth a LOT more than .0004.
Now what about Sifthouse Industries? http://sifthouse.com/ (website being built) is a start up MJ Craft Grower in Vancouver who are awaiting a license to begin growing their exclusive proprietary blend. The location has been leased, equipment has been purchased. It’s a waiting game as their registration (https://www.nuans.com/auth/app/scr/corp/nuans/public/PreSearch.html?name=Sifthouse&reportType=&distinctiveTerm=&naics=) is awaiting approval for a license. REMEMBER, this is a START UP. Once the license is granted, it will be full steam ahead into the MJ biz.
Another start-up is giftcardexchange.shop, a giftcard trading site that is being built and populated with retailer giftcards. Again, we’re seeing a delay here but SB is hopeful that the site will be launched in the fall.
CEO Steve Berman is a showman, talks a big game but tends to get caught up in his promises of great things and trips over his own words. Love him or hate him, the guy knows how to sell and build a business. Yep, no question the PPS is where it is because of his missed deadlines and his decisions to change the course of action.
But it is prudent to invest in a business that is being built one step at a time, and not in two-year old missed deadlines and broken promises. It is in my opinion that Steve, like ONCI, is experiencing CEO growing pains. He has learned what to do, and what not to do. I believe we will see less empty promises, and more announcements of substance as ONCI continues to flourish. Sure, revenues rule, but honesty is the best policy. He is being honest and loyal to his clients, promising them to not publicly announce their names. He learned from that mistake and it cost him a million-dollar deal in Nissan Garden City. If I were CEO, I wouldn’t take chances either.
Now it’s time for Steve to be honest with his shareholders.
Right now ONCI’s big fat black eye is the private label ads. Both PL deals exist, Pharrel is a pseudonym for a division of a top 10 insurer that specializes in large machinery. PL 2 is one of the east-coast’s largest dealer groups, soon to become larger with the purchase of a chain in the south. We’ve been told over and over that there are ads for this deal, and he even announced that they are running. Here’s where I stop playing Mrs. Nice Gal and ask our boss: IF THE ADS ARE RUNNING PUBLICY, PLEASE RELEASE ONE. JUST ONE. SHOW YOUR SHAREHOLDERS THAT YOU MEAN BUSINESS. Of course it’s very possible the dealer group has asked Steve not to announce them in a public forum. But truth be told, SB has been touting this deal for a year now and we his shareholders have held on with the hope that one day we will see them. SB—if you want to unlock shareholder value as you said in your last PR, release an ad.
There’s a lot to look forward to here. ONCI is growing and the numbers prove it is absolutely undervalued. ONCI was trading at .0012 three years ago with 55k in revs. Now it’s on target to bring in 6 million in revs this year and it’s at .0004. I have had no problem adding tens of millions here.
With 90 million on the bid, ONCI is ready to make another run. Bank on it.
GLTA
$ONCI 2019
2019 (and 2018 for that matter) have been painful for the ONCI stock but not for this rapidly growing little company. Despite a share price in the lower trips, the company is making more money than ever. The Q2 2019 financials (https://backend.otcmarkets.com/otcapi/company/financial-report/223377/content) attest to that, showing nearly 3 million in revenues with the potential for another 3 million more in quarters 3 & 4. Claims of revenues being fake are as fake as the claims being made. With on-time quarterly reports keeping ONCI PINK CURRENT (https://www.otcmarkets.com/stock/ONCI/security), and a registration filing with the SEC showing the exact revenues in the fins (https://ih.advfn.com/stock-market/USOTC/on4-communications-inc-ONCI/stock-news/79455922/registration-a-offering-under-the-securities-act-o), it is prudent to believe the revenues to be 100% accurate and valid.
But what about the A/R? Well, if the revenues were fake, why not fake the A/R as well then? This further shows the revenues to be 100% accurate, validated with an attorney letter (https://backend.otcmarkets.com/otcapi/company/financial-report/217451/content). The growing A/R is not the concern most believe it is. It justifies the fact that business is growing, and that additional revenues are coming in future reports. The more business you do, the higher the A/R. As long as the revenues grow concurrently with the A/R, then there is only future growth to look forward to. ONCI is providing their products with payment terms of 60 to 90 days, not always paid on time. But they WILL be paid, and the revenues WILL continue to grow.
ONCI’s market cap end of today is just over 1 million dollars at $1,059,751. Sheesh people, their revenues are 3 million for the first half of the year, with assets valued at over 10 million. This is ridiculously undervalued. As of the last report, the float is 3,254,427,154 with AS at 5 billion. This balance reflects the recent share reduction of 1.3 billion shares.
Now…what about the product? ONCI now owns more than 50% of Cogosense, which is the bulk of their current business model. The distracted driving apps are constantly being updated, and have been recently updated to fully comply with the revised requests of our insurance providers. (https://www.otcmarkets.com/stock/ONCI/news/On4-Communications-Inc-Announces-Major-Insurance-Compliance-Milestone-Reached-in-Bringing-Distracted-Driving-Apps-to-Mar?id=230671) The technology here is nothing short of amazing, a hardware/software tandem that allows an admin (parent or fleet owner) to manage and administer every action taking place in the vehicle, from hard braking to speeding to tampering with the hardware. The primary focus is that it stops the driver from using their cell phone while the wheels are in motion. Any parent of a new teen driver can rest easy knowing their child will not be texting and driving. Same applies for the fleet owner—the stats Fleetsafer delivers for just 1 or hundreds of vehicles is pretty awesome. Current fleet clients include Chevron, AT & T, Sprint, and more (https://cogosense.com/distracted-driving/partners). There’s a lot of competition here in the marketplace, proving there’s a growing need for this type of product. But let this be know once and for all—no other competitor’s product owns the Cogosense patent, meaning their products are driver voluntary. ONCI’s product is controlled by the administrator—the parent and the fleet owner.
But this is just the beginning for ONCI. There are other apps in development, such as a child car seat alarm. This man wishes he had one: (https://www.nytimes.com/2019/07/29/nyregion/twins-hot-car-father.html). ONCI products, plain and simple, strive to save lives. That in and of itself is worth a LOT more than .0004.
Now what about Sifthouse Industries? http://sifthouse.com/ (website being built) is a start up MJ Craft Grower in Vancouver who are awaiting a license to begin growing their exclusive proprietary blend. The location has been leased, equipment has been purchased. It’s a waiting game as their registration (https://www.nuans.com/auth/app/scr/corp/nuans/public/PreSearch.html?name=Sifthouse&reportType=&distinctiveTerm=&naics=) is awaiting approval for a license. REMEMBER, this is a START UP. Once the license is granted, it will be full steam ahead into the MJ biz.
Another start-up is giftcardexchange.shop, a giftcard trading site that is being built and populated with retailer giftcards. Again, we’re seeing a delay here but SB is hopeful that the site will be launched in the fall.
CEO Steve Berman is a showman, talks a big game but tends to get caught up in his promises of great things and trips over his own words. Love him or hate him, the guy knows how to sell and build a business. Yep, no question the PPS is where it is because of his missed deadlines and his decisions to change the course of action.
But it is prudent to invest in a business that is being built one step at a time, and not in two-year old missed deadlines and broken promises. It is in my opinion that Steve, like ONCI, is experiencing CEO growing pains. He has learned what to do, and what not to do. I believe we will see less empty promises, and more announcements of substance as ONCI continues to flourish. Sure, revenues rule, but honesty is the best policy. He is being honest and loyal to his clients, promising them to not publicly announce their names. He learned from that mistake and it cost him a million-dollar deal in Nissan Garden City. If I were CEO, I wouldn’t take chances either.
Now it’s time for Steve to be honest with his shareholders.
Right now ONCI’s big fat black eye is the private label ads. Both PL deals exist, Pharrel is a pseudonym for a division of a top 10 insurer that specializes in large machinery. PL 2 is one of the east-coast’s largest dealer groups, soon to become larger with the purchase of a chain in the south. We’ve been told over and over that there are ads for this deal, and he even announced that they are running. Here’s where I stop playing Mrs. Nice Gal and ask our boss: IF THE ADS ARE RUNNING PUBLICY, PLEASE RELEASE ONE. JUST ONE. SHOW YOUR SHAREHOLDERS THAT YOU MEAN BUSINESS. Of course it’s very possible the dealer group has asked Steve not to announce them in a public forum. But truth be told, SB has been touting this deal for a year now and we his shareholders have held on with the hope that one day we will see them. SB—if you want to unlock shareholder value as you said in your last PR, release an ad.
There’s a lot to look forward to here. ONCI is growing and the numbers prove it is absolutely undervalued. ONCI was trading at .0012 three years ago with 55k in revs. Now it’s on target to bring in 6 million in revs this year and it’s at .0004. I have had no problem adding tens of millions here.
With 90 million on the bid, ONCI is ready to make another run. Bank on it.
GLTA
We took SNMN from no bid to .002+.
Will do the same for $ONCI.
.0004 TO .01 IS THE GOAL
$Reversal $ONCI
Working on new DD packet.
Team has quietly accumulated 0004s for the next run. LOCKED AND LOADED NOW.
GLTA
$SNMN WOW, from no bid to over .002 and climbing.
$ONCI will do the same very soon. .0003 to ???
IMHO, .01 will hit before summer is out....
$ONCI WE ARE PUTTING IT BACK IN PLAY. TRIPPS WILL BE GONE FAST.
$ONCI VOLUME ABOUT TO HIT...BACK UP SHE WILL GO!
ONCI--SIFTHOUSE
As discussed we have signed a lease for the 5000 sf place on the river in Vancouver. We have also negotiated for an additional 20,000 sf if we need within the next 24 months. In addition we have been approached by various companies who want to franchise our idea all over Canada and especially Germany. Canada is on the forefront of the CBD revolution. The amount of land is limited and we will be one of the players as we roll out CBD oils and other cbd products. This business is about to explode. CVS just announced it will sell cbd oils for health and beauty needs. As big companies get more involved the interest will grow and the demand will exceed supply. In my opinion SIFTHOUSE will be our jewel in the crown over the next couple of years.
ONCI--PRIVATE LABELS
The 2 private label deals we have done have so far been great. We are meeting with Pharrel in the next 2 weeks to discuss the first mining co opp. The company is very interested in our pricing model and we will be putting together a presentation showing them how they can protect their machines and lower insurance costs especially in 3rd world countries. Bfound mobile is ready to go and can be ramped up at a moments notice. The heavy truck business is a huge opportunity and we are moving forward everyday. This is an untapped market and we are the first to be there. The roofing co is on its 3rd leg of rollout and we will be done with everything by the end of July.
The pl2 is going amazing. I still have an NDA but many of you have seen the ads as they appeared in NH, MAINE, and PENN. Our first invoice will be paid on July 15 and they have requested another 400 units as they roll out across their footprint. I have been told by the owner of the co that they intend to purchase another group in the south-east with 25 dealerships and that will be going through within the next 3 months.
In addition we are in talks with 5 other companies regarding private label opportunities, 2 in Europe and 3 here in the USA .
ONCI GIFTCARDEXCHANGE.SHOP
As we have discussed Giftcardexchange.shop is moving very quickly. We have chosen a designer and we are currently looking over various designs. Again the biggest issue is not build out but back end compliance. We have to verify the validity of the card with the retailer and make sure its still valid before we can list on the site. We have also discussed an advertising platform that will give us 2 streams of revenue which is always what I want in every business we are involved with. If we can accomplish this we will get ad revenue from all retailers making this a huge deal.
ONCI--July 1, 2019
"Shareholders, I am happy to report that we had another record quarter with sales up YOY and qtr over qtr. We also achieved major milestones which we will discuss in this letter to shareholders. Not only did sales go up but our costs went down significantly making us more profit per unit sold.
We tried successfully a Facebook and Instagram campaign which netted us real profits immediately. The next campaign starts on Monday, July 15th and we are hoping to expand our campaign to include Twitter as well. Because the internet has worked so well for us we are looking to continue the campaign every month. Facebook as I have said keeps giving us residual revenue even we are not running ads. In addition we reduced the OS by 1.4 billion shares which can be seen in the new Financials.
We are doing everything we can to unlock shareholder value and reducing the OS was a big start. We have also released our new OBD designed for Insurance companies, where we can now do all the Telematics that the insurance companies want as well as save lives.
On4 Communications, Inc. Announces Major Insurance Compliance Milestone Reached in Bringing Distracted Driving Apps to Market
LOS ANGELES, June 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- On4 Communications, Inc. " ONCI) is very pleased to announce that a major insurance compliance milestone has been reached on the developmental pathway to bringing its new telematic distracted driving apps, “bSafeMobile” and “FleetSafer”, to market.
CEO Steve Berman explained, “With the recent arrival of our new beacons from our technology partners in Asia we have updated our proprietary software to fully comply with the revised requests of our insurance providers. These requests have caused a bottleneck which has slowed bringing our apps to the insurance market, but it has now been overcome.”
“Implementing these updates assures that our apps now meet the insurance companies’ most current and stringent guidelines. The items of concern were a more fine-tuned control of actions like speeding hard braking, hard acceleration, and hard turning. Finalizing these adjustments means we not only exceed the insurance providers’ standards, but we position ourselves far ahead of our competitors in terms of safety, compliance, and overall performance. On4 Communications simply has the most effective product in this sector to meet the needs of individual drivers, auto rental companies and other fleet sized clients. The ultimate benefit offered by our technology, of course, is the protection of the safety and lives of drivers from distracted driving mishaps, but our clients are also quick to see the benefits from a ‘bottom line’ perspective. Auto collisions on average cost insurance companies $2600 per incident each way. Avoiding such fender benders will save our clients millions of dollars annually.”
...On4 Communications will be meeting with insurance providers and rental car companies (both individual and fleet) in the upcoming weeks for talks to confirm the apps’ compliance functionality and to showcase market ready status."
$ONCI--For those who look at the financial statements and analyze the results of the company, I have documented a few items of interest.
Look at the last page of the April 30, 2019 financial statements, page 19 of 19, which compares the amounts due to Related Party (Steve Berman). For the first 6 months of this fiscal year.
Accrued but Unpaid Comp $360,763 $240,763 $120,000
Unreimbursed Bus.Exp. (CEO) $441,902 $236,412 $205,490
Accrued but unpaid sales comm $1,187,106 $822,620 $364,486
5% loans to the company $950,584 $774,711 $175,873
"Accrued but unpaid compensation" increased by $120,000 ($20k per month for 6 months). Meaning he has not paid himself one dime in salary. If the company does well he will get paid down the road but during this growth stage, he is leaving it in the company to pay the bills.
"Unreimbursed business expenses paid by the CEO" increased by $205,490 during the first 6 months so he is paying for a lot of the expenses out of his own wallet.
"Accrued but unpaid sales commissions" increased by $364,486 during the 6 months. Divide that number by 12.5% and you get $2,915,888 which just so happens to be the total sales for the first 6 months with a few dollars of rounding. Once again, he has not paid himself anything in commission. It is a debt of the company to be paid in the future when the company is in a position to pay it back.
"5% loans to the Company" increased by $175,873 during the first 6 months.
Not only is he not paying himself a salary or commissions but he has used over $200k of his own money for business expenses and has loaned the company an additional $175k.
Accounts Receivable 10/31/18 was $4,851,862 plus 6 months sales of $2,915,884 = $7,767,746. This represents the money owed the company if they did not collect any cash for their sales. Now subtract the A/R on 4/30/19 of $6,575,831 and you get the amount collected during the first 6 months, $1,191,915. People are buying the product and the company is making money.
Good luck to all.
Good DD right there. Simply put, this is crazy undervalued. The salt in the wound is a CEO who has diarrhea of the mouth, making promises he could not keep.
ONCI is on target to bring in 6mm in revs this year, up the ZERO revs less than three years ago. ONCI is down but far from out.
I added just under 2 million at .0005, and will add as funds clear.
SB has invested a ton of his own cash into this...the PPS is not indicative of the company's true value. The next year will be very telling. We should see Sifthouse, Giftcardexchange.shop, and distracted driving deals come to fruition, adding more revenue to the bottom line.
And those AR's? Has anyone ever heard of payment terms? Plus dealerships are notoriously slow to pay their bills to third-party vendors. Growing A/R is good when the revs grow alongside them, and that is what we are seeing.
ONCI is a crazy-great buy down here. Just watch what the next few weeks/months bring.