On The Move Systems Corp(OTCMKTS:OMVS) has been on the move in recent months hitting a recent high of $0.2145 way up from $0.0034 lows last year. OMVS got a boost earlier this year after the Company announced it had received over $1M worth of rental contract commitments from several clients through its distribution network. RAD presently has 8 employees and consultants. RAD expects to be able to generate upwards of $8M in EBITDA by the end of 2018.
RAD currently has a sales pipeline of over 50 Fortune 500 companies and over 25 qualified dealers and distributors that have a combined customer base of more than 35,000 end user corporations.
On The Move Systems Corp(OTCMKTS:OMVS) is focused on the development of cutting-edge technology across a broad spectrum of industries. The company is currently exploring new online tools to reduce costs and increase convenience in the tourism and travel industry and exploring new opportunities in trucking.
The story on OMVS is their new trucking software described as the “UBER” for the trucking industry. According to the Company the software will unite business applications, logistics inventory, and end-customers through OMVS, making it easier to request a personal, local freight carrier.
OMVS conceived the on-demand freight platform to widen the availability of interstate shipping methods, quicken delivery of goods, and synchronize freight supply chain operations. The addition to the ISTx platform seeks to streamline the billion dollar trucking industry, increasing the efficiency and connectivity of the approximately 3 million trucks on the road.
CEO Robert Wilson said “Its Uber for commercial transport. Our focus is in response to our culture’s popular sharing economy, much like Uber and Airb&b. We’re anticipating our user’s needs by broadening their choices in freight. Adding the on-demand platform to our ISTx platform will revolutionize the trucking industry by increasing the number of perfect nearby carriers for their load. Cutting costs for shipping is an enormous economic benefit to suppliers.”
Earlier this year OMVS announced the U.S. trucking industry is facing a driver shortage and On the Move Systems, Inc. has developed a pioneering new “Uber for trucking” platform that could help carriers find the people they need behind the wheel.
Image is a major problem confronting the industry and keeps many potential driver candidates away. Prospective drivers often do not see trucking as a career with solid long-term job security or advancement opportunities.
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One suggestion has been for trucking to improve its image with better branding. The idea is to make trucking an industry people want to work for and stay with. However, even with better branding, trucking industry recruiters have been limited in how they can reach potential recruits. With limited ways to spread the word to prospective drivers, companies are missing out on many potentially valuable employees.
In addition, OMVS’s versatile platform will enable larger trucking companies to locate and contact local, independent haulers who they can contract with, making their shorter runs more efficient and cost-effective.
On July 26 OMVS announced it has received an additional 10 robot reservations for a total of 40 robot reservations with total contract values of approximately $4 million. “We are seeing very strong demand for robots from prospective clients,” said Steve Reinharz, President and CEO of RAD, “and we expect to comfortably meet our target of 60 robot reservations by the end of the summer.”
RAD expects to deploy robots to end users in July. To date RAD has commitments for 40 robots for total contract values of approximately $4 million. OMVS has successfully completed its due diligence process on RAD as part of the binding LOI that was entered into on May 10th, 2017 for the purchase of 100% of RAD by OMVS. It is anticipated that the acquisition will close before August 10, 2017.
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Currently seeing some big volotility OMVS has minimal assets in the treasury, minimal revenues and rising short term debt. But this is an exciting story developing in small caps: the Company is developing the “UBER” for the trucking industry and the stock has a proven history of successful moves. We will be updating on OMVS on a daily basis so make sure you are subscribed to microcapdaily.com so you know what is going on with OMVS.
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Disclosure: we hold no position in OMVS either long or short and we have not been compensated for this article.