On The Move Systems Corp (OTCMKTS:OMVS) On The Comeback Trail

We have been covering On Move Systems Corp (OTCMKTS:OMVS) since May 2017. We wrote a piece called "On The Move Systems Corp (OTCMKTS:OMVS) Making Big Moves", wherein we noted that the company was merging with Robotic Assistance Devices ("RAD").We noted that the market was appreciating new details regarding the merger and the most significant was the technology being acquired. RAD develops and sells guard robots used by organizations to improve their security departments.This is one of the last videos released about their technology:

SourceThose readers who followed our coverage on the stock should have been able to profit from the share price appreciation. As we expected, after the merger of the two companies, the share price increased. OMVS's share price jumped from trading close to $0.05 to $0.25 in the summer.Then, the share price declined a bit and went to trade in the $0.06-$0.09 share price range.But, the most significant is that the volume increased, which is a good proof of the market interest in the stock. More than 10 million shares changed hands some days.Have a look at it before we let you know what's new on this name: 1 year chart for OMVSRecent DevelopmentsAfter the release of our last article on October 25, 2017, the company released that S5 Security Guard Robot is available to the members of PSA Security Network. PSA Logo from https://www.psasecurity.comFor those who don't know, this network "is world's largest systems integrator cooperative made up of the most progressive security and audio-visual integration firms in North America." Companies representing more than 7,500 industry professionals and more than $4.5 billion annually in security installations are part of the network. Thus, we appreciate the news, as it will be a great opportunity for OMVS to increase brand awareness and meet clients.In our opinion, the following were the most significant words of Steve Reinharz, President and CEO of RAD:

"We're excited to offer our robotic solution through another channel as part of PSA's expansive integrator network, allowing us to expand our market reach and educate more end users on how these solutions can solve today's most complex security problems," Source

The following is an example of the robot that will be introduced to the PSA Security Network: Security Patrol Robot from https://smprobotics.comAs we always do, we provide information regarding the commitments for robots as of today. The company noted that RAD has commitments for 62 robots for total contract values of approximately $6 million.Additionally, RAD has signed 2 POC's with major companies and it is said to have a sales pipeline of over 50 Fortune 500 companies and over 25 qualified dealers and distributors. This sales force is targeting more than 35,000 end user corporations.The last quarterly report was not filed yetThe company has not yet filed its last quarterly earnings results, thus the market may be pushing down the share price a little. We don't believe that this reaction is justified.On September 21, 2017, the company released why it was unable to issue the new documents:

"VIVA ENTERTAINMENT GROUP INC. (the “Company”) is still waiting for third party documentation in order to prepare a complete and accurate Form 10-Q. The Company has been unable to receive this data in a timely manner without unreasonable effort and expenses." Source

In our opinion, the company will soon announce the new quarterly release and the market may react positively to it:

"The Company does not expect significant changes in its results from operations and earnings from the corresponding period ended July 31, 2016." Source

Short sellers seem to be closing positionsWe need to note that short sellers seem to be closing positions in the stock. In August, the short interest went up to 286,494 and then this figure went down to 32,500 in October.Have a look at the following table and form your own opinion:DateShort Interest% ChangeAvg. Daily Share VolumeDays to CoverSplitNew IssueOct 13, 201732,500170.8369,928,5871.00NoNoSept 29, 201712,000100.00189,378,1501.00NoNoAug 31, 2017286,494503.32235,424,7461.00NoNoAug 15, 201747,486219.30539,697,2071.00NoNoJul 31, 201714,872-96.03854,224,2641.00NoNoSourceConclusionCurrently trading with a market cap of $6 million, OMVS is an exciting story among small caps. With $0.2 in total assets and $18 million in total liabilities, we believe that the company will need financing soon. But, in our opinion, new funding will not be a problem, as the company's technology is seducing the market.Shares of OMVS have bounced off the $.05 support level. We don't see any significant resistance until we reach the $.20 level.Be sure to check out our coverage on OMVS!We will be updating our subscribers as soon as we know more. For the latest updates on OMVS, sign up below!Image courtesy of GuybrushEOL via FlickrDisclosure: We have no position in OMVS and have not been compensated for this article.