On The Go Resurfaces
“Just when I thought I was out, they pull me back in.”
–Michael Corleone (Al Pacino), The Godfather III, 1990
Seems like On The Go Technologies (OTCBB: ONGO) just won’t fade away. We stopped covering the company months ago, and haven’t proactively talked much about them since then. However, there’s been quite the buzz in the blog ‘Comments’ and e-mail feedback about ONGO, so we’re more than happy to stir the pot once again. (Hey, if it’s important to you, it’s important to us.)
So, here’s your renewed forum….feel free to leave comments and thoughts below, as usual. There’s just one ground rule - any messages have to be constructive, helpful, insightful, or educational. Any questions have to be legitimate. On the other hand, the truth is the truth, and we all know it may not always be pretty. So, don’t hold back. Other than that, let’s all share what we’ve got to share.
We’ll get the ball rolling with this question e-mailed earlier today….
Hi,
I own some shares of ON The Go Health Care (hasn’t been a big winner for me) and with current price wanted your thoughts on purchasing some more to kinda hedge my lose. There was some good news today but wanted your thoughts.
Thanks as usual
Thanks for asking. You know eventually, things really are going to get to the point when they can’t get any worse. While we’ve been unimpressed by the market’s response to ONGO for a while, we have to admit….we may actually be at the absolute bottom. On the flipside, we think the biggest worry is that ONGO could stay here at the bottom indefinitely.
So yes, it’s still on our radar (as it is for many of you), and may be worth keeping on the radar. However, I rarely board a sinking ship…let’s see if this one floats first.
To answer your question though, do you feel like gambling? We’re not saying it’s wrong to speculate - we do it plenty. We’re just saying that’s the current status we see for ONGO….though it could be a fun bet.
Other thoughts?
(By the way, you might want to review all the comments from our other recent ONGO blog entry….just click on the ‘Comments’ link on this page if they don’t pop up automatically.)
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At the time that the stock price seems to bottoming at 0.013˘ ,the Company ON THE GO TECHNOLOGY is ASKING to the SHAREHOLDERS to Make a Reverse Splip and to pass from 100 Millions shares to 500 Millions Shares.It is Supposed to be for the Interest of the Shareholders .The Last time that they did that thing ,it was a
disaster .I think that they have to wait untill ,the stock goes UP for a certain time,before to think about that.It is a FALSE thing to AFFIRM that ‘this is good for the Shareholders ‘ .Many company did that since year 2002 ,and it just accelerate the DOWN TREND . These company never did something for the ShareHolders .We have to see all the Charts of many company ,they always dilluate the Shares and it goes always DOWN .Since year 2000 ,the MICROCAP are DEAD MONEY.I have some questions for you.
Do you thing that it will get a Recovery for the MICROCAP ,is there a light at the end of the TUNNEL ,and are they just for the Traders ?( Short Time )
What is better for you ,is it better to Refinance or to Add somes Shares ,like they want to do ?
What do you think about their idea ,to do the same thing ( MISTAKE ) that they did ( Reverse split and Add some Shares ,100 millions to 500 millions ?
And you know ,that this stock lost more than 40,000 times his VALUE since year 2003 ( from $425 to 0.013˘ )reversplip ajusted,i think that it is a RECORD DOWN for a company ,still making Business .
Thank you for your Response and commentary .You were right when you write that this stock good be at 0.01˘ .
Editor’s Response: Fool me once, shame on you. Fool me twice, shame on me. The last reverse split was a joke. Not only did it not help, but it hurt - badly. A reverse split won’t change the problem - just cover it up. I have no faith in this company or the stock.
Comment by denis — 6/13/2007 @ 10:44 am
Another new filing — this one for the resale of up to 24,823,734 shares of common
stock by Dutchess Private Equities Fund, Ltd…
Looks like more dilution.
Maybe they’ll do another reverse split after that and we can go in the same circle once again. Shameful.
Editor’s response: I don’t think this will dilute, though it hardly matters at this point. I believe this is the second stage of the financing deal done a few weeks ago (March 20th) with (through?) Dutchess. Regardless, somebody besides management and individual investors effectively ‘owns’ the company. Not a good situation, but ironically is a losing deal for everybody. Not sure why Dutchess is in on this one.
Comment by Mike — 4/23/2007 @ 10:30 am
base of latest filling as of 4/17/07 which you can see in ragingbull o/s are 47 mil CEO onws 55%
Comment by mort — 4/18/2007 @ 10:36 am
o/s base of new filling as of 4/17/07 about 47 mil which CEO owns 54% that’s 23 mil already converted and 20% may or soon.here is the filling…http://edgar.brand.edgar-online.com/fetchFilingFrameset.aspx?FilingID=5106912&Type=HTML
Comment by mort — 4/18/2007 @ 10:33 am
There was a new SB-2 filed on 3-20-07 for the sale of up to 24 million shares by Dutchess. The filing indicates that as of March 15, 2007, there were 17.8 million shares outstanding, with 1.5 million further issued in exchange for an equity line of credit. Now, does this mean that the 24 million shares are in addition to the 17 million currently outstanding? I am a little confused.
Editor’s response: Join the confusion club - there’s plenty to go around. My understanding is this…..those 24 million are NOT in addition to the 17.8 million, though there obviously has to be some overlap. That raises the question though….how does Duchess have or get 24 million shares to sale? I’m not accusing wrong-doing here, but On The Go has done a terrible job of keeping data like this current, nor have they been clear about the dilutive potential throughout the process. I’ve given up trying to get the story straight from the company.
Comment by Mike — 3/28/2007 @ 7:41 am
Good luck averaging down. I’ve been doing it for months and every time I buy, it goes lower. If Turk and his “team” think it is at a bottom, why don’t they buy some? I can’t just see it now….another reverse split! Is that how it works? Dilute, then do a reverse split. Dilute again. Just do another reverse split. Next step, repeat above!
Comment by Mike — 3/23/2007 @ 6:27 am