Today, before the end of the trading session, Options Media Group Holdings, Inc. (PINK:OPMG) stock entered the list of the most active pink sheets on the OTC Pink Market.
An our before the closing bell, on a release about company's business restructuring, OPMG gained 143% in a trading volume of more than 73 million shares changed hands.
The company announced its name change to PhoneGuard, Inc. and its new business focus on the fast growing mobile applications market.
Simultaneously, OPMG disclosed its consolidated financial statements for the year ended December 31, 2010.Though reported working capital deficit and an accumulated deficit of $524K, and $22M respectively will result in shares price pull back, investors' believe in the company's potential “to grow in a new field” was stronger and push up OPMG.
Maybe, many investor grabbed the bullish mood on OPMG based on the stated by the company expected additional payment of sales royalties in millions.
At the end of the last year, Options Media Group Holdings, Inc. decided to discontinue its E-Mail, Postal and ESP product lines and started negotiations a transaction to sell the main assets of the business, databases.
In the beginning of February, the company sold its e-mail business and primary assets of databases for $175K in cash and a percentage of all revenue generated over a 24 month period from company's sales force.
Today shareholders of Options Media Group Holdings, Inc. supported the upward trend of company's stock in expectation of long term benefits on it. Even those that had short term positions on OPMG these days had a good opportunity to bank gains.
Yesterday, as well, stock alerts accompanied shares huge rush. Now, remains only the willingness of the company’s management together with the new Chairman of the Board to rush ahead the company.