On4 Communications Inc (OTCMKTS:ONCI) Is A Big Winner For Insider Financial

On4 Communications Inc (OTCMKTS:ONCI) surprised the market recently by acquiring its 51% partner in the FMS Safe Driving APP. The share price increased as a result of the news, as the market understood that the corporate move gives ONCI full control of the app.Additionally, other good announcements were also released recently. The most significant included the fact that On4 will meet BMW at its Corporate Headquarters in Munich, Germany on September 15. Furthermore, ONCI signed were a $360,000 contract with Midsized Long Island Auto Group, meetings were held with ENTERPRISE RENT A CAR and General Motors, and a deal signed with Google Brazil.We will provide more details in this article, but first of all have a look at the recent share price action. Please note that we commenced covering the stock when the share price was $0.001 a share. As of September 2, 2017, the share price is $0.00459: 1 year chart for ONCIRecent DevelopmentsLet's recap ONCI's business objective for those who could did not read our previous pieces. The company specializes in the acquisition of new technologies and promising business models. Our readers may remember some of the following companies acquired:

• Charity Tunes Inc.
• Sound Revolution Recordings Inc.
• PetsMobility Inc.
• Sound Revolution Inc.

On August 11, 2017, the company released that it had executed an agreement with Google Brazil the previous day. CEO Steve Berman explained that the company expects to receive approximately $600,000 from this deal over the course of the next 12 months. Additionally, he explained that the company's goal is to create "a multi-revenue stream platform including business to business, business to consumer, and direct marketing sales."The agreements and meetings with big companies did not end there. On August 17, 2017, the company noted a meeting with Enterprise rent a car for "not only its FMS Safe Driving App but also for its Mobile Tracking Device which will be available for sale on Tuesday September 5." Hence, we encourage readers to be alert around September as news is expected to hit the market as a result of these meetings.Additionally, on August 21, 2017, ONCI noted that General Motors had been invited to discuss distracted driving opportunities and how to implement its FMS Safe Driving App into GM cars. In addition, CEO Steve Berman mentioned new contracts signed with other parties.

"We have been discussing safe driving with the big 3 auto makers for well over 6 months and we just secured this meeting with GM for Oct 19 2017. We are also pleased to announce we have executed a contract with a large Mid Atlantic dealer group with locations in Virginia, Maryland, Delaware and Washington DC. At first 12 dealers will participate each generating $3,000 per moth or $36,000 and over $432,000 per year. " Source

That's not all. On August 29, 2017, the market got to know about a new contract with a medium-size dealer group in Long Island New York. According to the press release, it is a 5 dealer auto group in Long Island New York with brands including Toyota, Nissan Chevy, Kia, and Ford. The dealer is expected to sell 20 units per month at $300 per unit and a grand total of $360,000 per year. Additionally, a 2nd non-binding Letter of Intent to acquire an additional 7500 sq foot manufacturing facility in Kuala Lumpur was also noted.Furthermore, on August 31, 2017, the company announced that it will meet BMW on September 15, 2017 in Munich, Germany. Again, we repeat that September could be a great month for the company, thus we recommend the readers to follow the company's announcements. A subscription to our newsletter will also help as we will be following the developments closely. CEO, Steve Berman said:

"This will be the first of many meetings with the European auto makers. Distracted driving has become an epidemic worldwide. BMW, a pioneer in car safety, understands that they need to protect consumers in every way while driving one of their Automobiles." Source

Finally, without doubt, the most significant news was that ONCI acquired its 51% partner in the FMS Safe Driving APP. The price will be $3.5 million, which will be paid in 6 installments in a 6 months period. The most relevant in the press release was that the acquisition will significantly reduce the cost of software development. On the top of it, according to the same communication, the company had signed a $450,000 contract with a 10 dealer group in Arizona for 150 units per month at $250 per unit.Market reaction and ConclusionThe market has shown a positive reaction to the news released by On4 Communications. For our subscribers that got in on the back of our coverage, they are sitting on gains of over 300%. Additionally, we were impressed by the powerful contacts and agreements that ONCI has obtained. If companies, such as Google, BMW, or General Motors, are willing to meet ONCI's management, it means, in our opinion, that the ONCI is the real deal. To sum up, be alert on the company's announcements in September, as they look set to drive the share price higher.Be sure to check out our coverage on ONCI!We will be updating our subscribers as soon as we know more. For the latest updates on ONCI, sign up below!Image courtesy of Osamu Kaneko via FlickrDisclosure: We have no position in ONCI and have not been compensated for this article.