posted
Had a buy order in.... But no one was interested... Just cancelled my buy order... must be something wrong with this one?
Posts: 1101 | From: Georgia | Registered: Apr 2006
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posted
Just be careful, dilution is still going on. It may pop a little bit to trap investors. Wait for the end-of-504 announcement.
Posts: 3228 | From: Michigan | Registered: Aug 2005
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posted
There's also a reverse split that is imminent. I received a PRE-14 in the mail the other day; it hasn't been decided, but it will be somewhere between 1:5 to 1:20...
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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posted
On The Go Wraps Up 2007 Fiscal Year with Strong Sales of Over $27.5 Million CDN and Continued Debt Reduction
CONCORD, Ontario, Aug 01, 2007 /PRNewswire-FirstCall via COMTEX/ -- On The Go Technologies Group (OTC Bulletin Board: ONGO) ('OTG' 'the Company'), a leading multi- industry computer hardware, software and systems integrator, announced today a Year End review from its CEO, Mr. Stuart Turk.
A few of the Company's more prominent highlights follow:
- Revenues for the 2007 fiscal year are estimated to be over $27.5 Million CDN
- OTG filled many orders in the $100K + range for both long term and new clientele over the past year and has added to its list of (annual) million dollar customers.
- OTG Healthcare's growing roster of medical facilities, and diagnostic delivery and administrative clientele, inclusive of an unprecedented turnkey DICOM archive solution, the first of its kind in the nation and poised to become an industry standard, is representative of not only the Company's entrepreneurial spirit, but also its solid industry reputation.
According to Datamonitor, healthcare providers will spend as much as $39.5 Billion on diagnostic and software technologies by 2008, representing a 7.4% five-year compound annual growth rate from 2003. OTG clients, the likes of larger hospitals and diagnostic centers, have been, and will continue to be, the catalysts of this growing IT adoption.
- OTG continues to focus on niche market sales and professional service revenue mix transactions, generating more substantial margins; the average Gross Profit stands at approximately 20% for the year.
- OTG maintained a diligent debt reduction plan in 2007 and has now eliminated all of the Promissory Notes related to divisional acquisitions and outside suppliers. Most have been eliminated well in advance of each due date.
- As President and CEO, I converted $1 million dollars of debt owed to The Cellular Connection Ltd., a private company I own, into equity as reported in an 8k filed July 24, 2007.
- The combined debt reduction over the past year has helped to strengthen our balance sheet and has afforded the Company a much better position to ultimately operate as a profitable entity.
- We continue to streamline all overhead-related costs and expenditures, reaching a staff level of 40, down from over 80 just over a year ago. Revenues remain strong and unaffected by the reductions.
- For a record 6th consecutive quarter, OTG was the recipient of HP's prestigious Service Excellence Award for Q1 2007.
Mr. Turk continued, "OTG has transitioned and grown significantly from its first acquisitions in 2003. The Company continues to demonstrate its resiliency and will continue to use all opportunities to benefit our fundamental growth. The refinement of our sales and service targets, the continued elimination of our debt and making all operational costs and expenditures more efficient have served well in establishing the 2007 fiscal year as our greatest consolidation to date. We look forward to an even stronger 2008."
-------------------- lostone Posts: 2666 | From: san jose,ca usa | Registered: Sep 2002
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quote:Originally posted by JimSC: Just be careful, dilution is still going on. It may pop a little bit to trap investors. Wait for the end-of-504 announcement.
kicking up again.. but keep in mind Jim's warning.. don't know how they gonna play this
-------------------- lostone Posts: 2666 | From: san jose,ca usa | Registered: Sep 2002
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On The Go Eliminates $500,000 Convertible Note Over 10 Months Early
ONGO a leading multi- industry computer hardware, software and systems integrator, announced today that the Company has completed paying in full a $500,000 Secured Convertible Note to New York-based Laurus Master Fund, Ltd 10-1/2 months in advance of the Note's due date, July 2008. Inclusive of this Note, On The Go has effectively eliminated payments on $3.39M of outside debt in the past 6 month period, and all in advance of each respective due and/or conversion date. On July 14, 2005, On The Go entered into a convertible financing facility with Laurus Master Fund, Ltd., involving a $500,000 Secured Convertible Note due to terminate July 14, 2008. Pursuant to the terms of the Note, the Company made monthly payments plus interest commencing August 1, 2005. CEO Stuart Turk commented, "The elimination of this Note brings the Company that much closer to our goal of profitability. We continue to focus on streamlining our efforts in all areas of our operations while increasing sales and gross profit margins, as well as identifying new product offerings and strategic growth opportunities. Our 2008 year is off to a strong start."
quote:Originally posted by JimSC: Just be careful, dilution is still going on. It may pop a little bit to trap investors. Wait for the end-of-504 announcement.
posted
Should go up soon... Orders and profits are in order. 9c is their valuation. It is now .005 incredible.
Posts: 429 | Registered: Jun 2006
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Don't get into this one before you give the ceo a call and make sure that dilution is done. R/S is coming for this one.
Posts: 3228 | From: Michigan | Registered: Aug 2005
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posted
why are you saying RS coming? I don't see any filing on this matter
regarding dilution:
On August 27, 2007 Laurus converted the remaining amount due under the Term Note into shares of our common stock and as such the Term Note has been paid in full in advance of its due date of July 14, 2008.
they received 17m shares at .005 so i suppose they will sell slowly above that price (or create a run to dump more easily ...) the volume last 2 days indicate that this quantity can be absorbed without problems
quote:Originally posted by JimSC: R/S is coming for this one.
quote:Originally posted by bilgert: There's also a reverse split that is imminent. I received a PRE-14 in the mail the other day; it hasn't been decided, but it will be somewhere between 1:5 to 1:20...
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