JUST ACT LIKE YOU ARE NOT INVESTED...
(Not you ST, ) this is more generally to others.
Act like someone is coming at you with a sales pitch for ONCI.
You have $5000.00.
You’re looking for an investment.
Someone comes to you and pitches ONCI.
They are in your office and I think some natural questions would occur. I mean, they tell you all of the great things about ONCI and you’d deserve to lose all $5000.00 if you didn’t ask for some basics on what is being pitched as a viable, publicly traded company.
I would ask, among other things:
1.) is there a prospectus I can read?
2.) can I see their quarterly and annual financials?
3.) are these financials audited and by whom?
4.) Who is the CEO. What else has he/she done?
5.) What is their current share price? What is their 52 week high/low?
6.) are they compliant with the SEC?
7.) Are they compliant with their listing exchange/market?
8.) where can I find the company’s website?
9.) who are these partners? Why aren’t partners listed as partners?
10.) are there product reviews on Amazon, EBay, Walmart.com, Android App Store s? Apple app stores?
These are all things the pitchman tried to sell you on so these are natural questions and not arbitrary ones.
The pitchman said “it’s a great stock. They are publicly traded and going to take off because of private label deals. They’re available at Amazon and other online retailers and in the Android and Apple app stores. Their financials show 9 quarters of growth in revenues and sales. The CEO is great.
I mean the pitchman of course is trying to sell you something so they’re going to focus on the good. It’s incumbent on the buyer to ask the hard questions in this scenario.
So everyone needs to act for a second like they have an office, $5k to invest with, and a salesman for ONCI shares is standing in front of them pitching ONCI.
I’d hear his pitch. I’d ask those questions. I’d fact check his answers.
Here’s what I’d find:
Yes, ONCI has a recent prospectus. Good
Yes they have published financials.
No they are not audited.
The CEO is Steve Berman, he has ran another public company that was also a penny stock. It was mismanaged until investors lost every penny.
The current share price, just like the previously ran endeavor by CEO Steve Berman is near all time lows and down 98% from inception highs and down 60% from 52 week highs of $0.0039
No, they are not compliant or registered with the SEC. They were several years ago and filed to deregister their stock, presumably to avoid scrutiny and oversight.
No, they are not current with the OTC markets group which is regulated by FINRA.
The company does not have a currently operating/functional website and when you visit ON4’s website you’re told that the website may be for sale and embedded links do not function.
Partnership verification is untenable.
Product reviews where found are not current and or poor.
These are basic questions. If you remove the emotion from them caused by a long/bullish bias or a short/bearish bias these questions seem pretty common sense and the answers to them point very clearly to a “This is not a viable long term investment”
Can you trade it?
Sure!
Is even short term trading of ONCI risky? Yup!
But anyone who says after getting those really poor results to those questions that ONCI looks great then all you can do is wish that person the best of luck...because they’re are going to need it.
If there are 9784 OTC stocks today and each CEO tells 1000 lies per year to investors via telephone, email, Twitter, ihub or whatever and they all lie about each of those 10 questions (because they are the pitchman/women) then your odds of picking a winner for the right reasons just became about half the odds of winning the Interstate Powerball Lottery.
I ask these questions by the way. These questions and so many more. Even if I actually really like the pitchman or the company’s ideas I have to stay disciplined and go where those answers tell me to go.
I’ve enjoyed great success trading for over 23 years professionally and as your run of the mill day trader for fun.
These successes are due to questions like the ones above and adherence to my own disciplines and guidelines even if I have some kind of emotional attachment.
Sure, I’ve missed a play...more than I can count. But in 23 years I’ve owned three stocks that went bust while I was long and that hasn’t happened in nearly 15 years of daily trading.
Take all this for what it’s worth.
I looked with a pro’s eye at ONCI and it didn’t pass muster. It has the volume to support day trades and that’s the only reason I’m here.
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