Shares in the penny stock of Omni Ventures Inc. (Pinksheets: OMVE) had a huge run when we issued an alert on the owners of PRVCY Couture in March. Our alert on March 7th when OMVE stock price was at 0.097 was perfect as the shares rallied for nearly two months without any dips to top out at 0.525, a gain of 441%. The PRVCY Jeans owner is back in the news again with updates about their PRVCY Premium lines growing sales and shipments to new accounts. OMVE stock price is at 0.187 after gaining 43.85% since Friday’s low of 0.13.
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OMVE Stock Chart
On May 29, 2012, Omni Ventures entered into a financing agreement with AtCorp, Inc. for a credit line of up to $1.5 million. The line of credit is not convertible therefore has no dilution effect and is intended to be used by the Company for marketing, inventory and other working capital needs.
Christian Wicks, President of Omni Ventures, stated in the press release that OMVE has been developing creative ways to diversify their customer base including testing sales at new online merchandising venues. The company has also made significant steps to completing a national department store retail partnership. To diversify, the Company has identified acquisitions of an existing revenue-generating children’s apparel collection as well as an off-price garments merchandizing line.
About Omni Ventures Inc.
PRVCY Couture, Inc. (PRVCY) is a wholly-owned subsidiary of Omni Ventures Inc. As of as of May 9, 2012, the Company had 140,951,822 shares outstanding.
PRVCY Couture, Inc. is a casual couture apparel and accessories design, manufacturing and distribution company (www.prvcycouture.com) 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.
For more info about Omni Ventures, visit www.omve.net.
To view the entire press release, click here. To view the SEC filings for OMVE, click here.
Bottom Line: The penny stock of Omni Ventures had a tremendous run from the time of our initial alert on March 7th until the end of April. Since then, OMVE stock price has been on a slow downward slide hitting a low of 0.10 on June 7th only to have a 99% gain, three-day rally to 0.199. This penny stock is like the butt that fills their jeans, sexy and if something sexy passes by, it obviously attracts followers. OMVE could be on the cusp of another one of those rallies.
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