Nasdaq delisted penny stocks are, most of the time, great shares to have on your radar screen just waiting for all the investors to sell out of when that “OTC” designation is handed down. Traders look for those types of bargains and, when good news flows, like when Onstream Media Corp. (OTC: ONSM) reported their 10-K last week, traders pounce on new found gains. Then again, when a Company gets bounced for not meeting the Nasdaq requirements but still books $18.2 million for a fiscal year, more than $1 for every share outstanding, its no surprise why ONSM stock has gained roughly 100% in just under a week.
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ONSM Stock Chart
Market Cap: 7.81M
Last: 0.54 ▲ 0.095 (21.35%)
Dollar Volume: $28,248
Issued and Outstanding: 14,460,467
14-Day Rel Strength: 80.75%
14-Day Stochastic: 96.42%
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Just over a week ago, Onstream Media reported their fiscal year ended September 30, 2012 financial results and it is enough to turn anyone into a watcher of ONSM stock. Revenues increased $459,000 (2.6%) from the prior fiscal year and net loss improved by nearly 50% from $5.2 million in fiscal 2011 to just $2.6 million, or $(0.22) per share, for fiscal 2012.
The better news which has helped to improve the PPS of ONSM stock in recent session came from Tuesday’s update that the 5 key executives of the Company have worked out an agreement regarding their on-going deferred compensation settlement. According to the 8-K filed late last night, effective January 22, 2013, (i) $100,000 ($20,000 per Executive) of compensation will be paid in cash, and (ii) 1,700,000 (340,000 per Executive) fully vested shares (subject to certain trading restrictions) of ONSM stock will be issued as soon as possible.
With growing revenues in a niche market, whereby Onstream Media experienced growth in a tough economy, mainly from their Audio and Web Conferencing Services Group, the chances of seeing ONSM stock return to the 0.65-0.75 range the shares traded at for the majority of 2012 should not be a question.
About ONSM Stock
Onstream Media Corporation is a leading online service provider of live and on-demand Internet video, corporate audio and web communications and content management applications. Click here to view the SEC filings for ONSM.
Last 5 Trading Sessions:
Bottom Line: ONSM, a recently delisted Nasdaq penny stock has an incredible share sturcture for traders to pounce on. Looking at the 10-K filing, directors and officers, as a group of nine persons, own 1,577,867 shares of ONSM stock, 10.1% of the issued and outstanding, most of which was purchased at over $1, a value that Onstream Media could easily return to in the short term.
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