Shares of On the Move Systems Corp. (OTCPK:OMVS) have enjoyed a strong 2017 thus far, rising from about half a penny and the end of 2016 to as high as 28.8 cents last month. For those keeping track, that's a move of 5,660%. The stock has pulled back substantially from that level to find support on its 200 day moving average around 6 cents for the past week or so.
Shares are finding tailwinds today on news that the Reno-based company's wholly owned subsidiary, Robotic Assistance Devices, plans to offer its security guard robotics solution through the integrator channel. With this strategy, the OMVS unit believes it will expand the reach of the S5 Security Guard Robot to those both in the know and those not aware of the emerging security guard robot market.
Incidentally, anyone that watches CNBC daily is fully aware of the market due to the inundation of commercials seeking investors for Knightscope, an R2-D2-looking robotic security device.
Robotic Assistance Devices has begun deploying its robots to customers, already receiving commitments for 62 robots worth about $6.0 million to the company in contracts. The company claims to have more than 50 Fortune 500 companies in its sales pipeline (its website displays robots with Nvidia and Verizon logos and another at a Microsoft office) and more than 25 qualified dealers and distributors that reach more than 35,000 potential corporate customers.
Investors are apparently inspired by the news of the company looking to further penetrate what likely will be a lucrative and thriving market in the not-too-distant future. Shares of OMVS are ahead 21.7% at 7.9 cents with about 90 minutes left in the trading day. Earlier in the session, shares rose as high as 8.8 cents.
