Setting a record for volume on news of negotiations with a global mobile content supplier, the penny stock of O2 Secure Wireless, Inc. (OTOW) notched a major win for early traders. Noted as one of the lower floats on the pinksheets, shares of OTOW stock were on fire for almost a full hour before the candlestick went from a flame to a flicker with nearly all of the action having been conducted already. Looking forward to grabbing a bigger piece of the expected to be $75 billion pie from only mobile entertainment services, the convertible note holders finally got a real chance to make some serious coin for their patience.
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OTOW Stock Quote
Market Cap: 1.63M
Last: 0.1455 ▲ +0.0565 (+63.48%)
Dollar Volume: $116,409
14-Day RSI: 57.69%
1st Resistance Point: 0.1823
1st Support Level: 0.0993
52Wk High: 0.45
52Wk Low: 0.0011
O2 Secure Wireless Just came off a quarter which was so pathetic in comparison to the previous year, that a large number of teenagers financing their summer by cutting grass have already surpassed them. For the 3 and 6 months ended March 31, 2014, the wireless tower construction and leasing specialists managed to book $3,500 as compared to $34,000 and $67,936 for the 3 and 6 months ended March 31, 2013, respectively, all but assuring that today’s PR headline which mentions “in Negotiations to Capitalize on the Growing Mobile Market as Provider for Profitable Content Distribution” is as solid as the $50,000,000 commitment they announced from AGS Capital Group in September, 2012.
Things are so bad right now at O2 Secure Wireless that they aren’t even posting a gross profit for the 6 months ended March 31, 2014, yet Val Kazia, CEO of the Company, has been able to draw investors towards OTOW stock with carefully worded PR’s which promise the world in terms of profitability. In March, shares of OTOW spiked from virtual nothingness to eclipse 0.45 just days after the projected $25 million in gross revenues from the first year was expected from the Development of tower facilities and projected sales of OTOW smartphones and tablets.
The reaction the PR’s are getting is spectacular for the convertible note holders who prior to and shortly after the 1-for-1,000 reverse split OTOW effectuated in December, 2012. Of the roughly $370,000 worth of notes payable on the company’s books, many of them are able to be swapped out for shares of OTOW stock at prices as low as 0.002 making the 63% retail traders were able to witness today be a mere fraction of what “the Entity” cleared on today’s insanely high amount of volume.
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About OTOW Stock
O2 Secure Wireless, Inc. is a development stage company operating as a developer of domestic and international hi-speed wireless Internet facilities, Mobile Internet solutions and the OTOW Network.
Issued and Outstanding: 11,203,634
Last 5 Trading Sessions:
OTOW has had a history of running hard when PR gets issued on it. Although OTOW stock will never be one of the best penny stocks on the pinksheets, the low float due to the reverse split from 2012 does make it worthy enough to be considered a “wait and see” type of trade if you have the patience for the next somewhat misleading PR.