Why does it look good? There's obviously a lot of selling against the news. This company has a track record of issuing a bunch of press releases in paid promotions about deals that never pan out. They owe millions in judgments that they never pay on and can't own anything tangible without their judgment creditors taking it from them. They're being sued right now for around $10,000,000.00. This lawsuit is against the company, the president, and his brother who went to prison before for a ponzi scheme where he bilked people out of millions of dollars, took a lot of people's entire life savings. He was working as an agent of Omega in this scam they're being sued for right now, and he's always getting sued with them. They have a judgment against them from 2008 accruing interest at I believe 11% that they aren't paying on, and many others individually and as a company. Everything they do appears to be fraudulent, like just recently pumping their deal with VFG Securities after it fell through causing VFG to issue a press release saying that Omega was lying about their deal still being on.
Maybe share prices will go up some with this current pump and dump campaign. That it is a pump and dump is my opinion, of course, but it's based on a long history of paid promotions about deals that fall through and knowledge that anyone who does real due diligence should have about their track record. Maybe price will go up some, but how is that going to happen with all this selling into the news? Usually not a single share of this stock trades or just a few dollars worth trades. Now it appears that somebody needs money really bad because they aren't even waiting for price to go up before selling. They're just happy to see some volume so they can unload a few million shares and make a few grand it appears. My guess is they have to pay their lawyers for all the things they're currently filing in the Madison Boardwalk LLC v Omega Commercial Finance and Von and Jon Cummings lawsuit they're fighting right now.
Be careful with this stock. This company is never going anywhere. If there is money to be made here, it's with a quick in and out, and it would not be smart to set your target price at several cents a share because with all this selling it is highly unlikely that it goes up much. I suspect pretty soon they'll be filing their 10-Q that was due a long time ago and the news will likely be bad.
