The main problem that I see with ONGO is that the cost of revenues are going up faster that revenues. The company needs to concentrate on controlling costs. Last quarter the company lost $1,029,603 which is nearly double the loss of the corresponding quarter. Until costs are controlled the company will need to continue to issue shares to survive. The shares are quite low now but will not stay there with the present income problems. The company also had a 1 for 50 reverse split on 8-10-06 which does not make investors happy.
All things considered, this could be a great investment if management can control revenue costs and get into the black.
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