Omni Ventures (OMVE) Finally Has A CEO For PRVCY Jeans

The penny stock of Omni Ventures Inc. (OMVE), owners of PRVCY Couture, Inc., was a much better performer before Paris Hilton got involved with the PR. OMVE stock price rose from 0.098 on our March 7th alert to 0.525 on April 27th, a gain of 441%. Since then, the shares of PRVCY Couture’s owners have been on a bouncy ride down to as low as a dime. However, after closing at 0.135 on volume of 907,500 shares, things could be turning after Omni Ventures named a new CEO after Monday’s trading session.

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OMVE Stock Chart

5 Day Pct Change: -27.81%
5 Day Moving Avg: 0.127
5 Day Avg Volume: 1,254,640

10 Day Pct Change: -25.00%
10 Day Moving Avg: 0.1513
10 Day Avg Volume: 961,155

Christian Wicks, President of Omni Ventures, is a party guy, not a CEO and was just holding the position until they found a suitor. Monday, the Company hired Mr. Deepak Ramchandani, an experienced apparel industry veteran, as OMVE‘s CEO. Deepak has launched and developed several successful apparel companies including Brands Unlimited, LLC, a leading designer and distributor of casual apparel.

Furthermore, in their first real move forward other than making skinny jeans that only anemic celebs could wear, The Company signed a Letter of Intent to acquire certain revenue-generating assets of Brands Unlimited, including its account receivable, customer lists and intellectual property. Dov Charney, CEO of American Apparel Inc. (AAP), now has someone to compete with.

Upon completion of the due diligence and the contractual paperwork on acquisition of the assets of Brands Unlimited, OMVE would  be adding at least $1.4 million in current orders and roughly another $600 thousand of orders in the works to the future revenues of OMVE.

Omni Ventures plans to expand its operations in New York’s Fashion District which will host its offices and showroom to serve the business to be acquired from Brands Unlimited as well as its PRVCY Premium brand.

About OMVE Stock

Omni Ventures, Inc. is the owner of PRVCY Couture, Inc., the casual couture apparel and accessories design, manufacturing and distribution company ( known for the “Made in Hollywood” PRVCY brands. The Company is in various stages of developing several related projects in the fields of consumer goods design, manufacturing and distribution as well as consumer services.

Bottom Line: This is a huge move for the penny stock that was forecast to have a share price as high as $12 by some off-Wall Street analysts. OMVE stock was our second best performing penny stock pick for Q1, but is a bit more risky now. There are a number of bagholders that own OMVE at levels much higher than even 0.20 which opens the door to more sellers than when it ran 441%.

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