On4 Communications Inc (ONCI)

[DJPele]

On4 Communications, Inc.
Shares of elderly dental services provider, On4 Communications, Inc. (OTC Pink: ONCI) are down 15% on Tuesday, June 28, 2016. The company normally experiences average daily volume of around 9.13 million shares, over the past three months. However, over 40.6 million or $89,320 in dollar volume have exchanged hands in the first half hour of trading Tuesday.

The sell off on heavy volume comes after the company released a statement detailing of On4 Communications, Inc.’s meeting with an audit firm to “create a culture of transparency that a fully reporting status ensures,” according to the press release. The sell off could be attributed to the fact that the hiring of the audit firm and the wording may suggest to investors that the company has not been exercising proper transparency. Volume was cut in less than ½ yesterday and no I was seen.