Omni Ventures Keeps Falling After Announcing PRVCY Expansion (OMVE)

Omni Ventures (OTC: OMVE) fell 15.5% on a third consecutive day to a market valuation of $0.109 per share,  after the announcement on June 18th that its wholly owned subsidiary PRVCY Couture has continued to update the PRVCY Premium line with growing sales and shipping to new accounts.

PRVCY Couture has been developing creative ways to diversify its 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.

Volume of Omni Ventures dropped to 1.1M, comparing with yesterday’s volume accumulation. Omni Ventures declined 12.30% yesterday (June 19th, 2012), closing at $0.164. Volume rose to 1.76M, bypassing its average of 1.05M for the day.

Omni Ventures has been declining since April 27th, 2012, when shares were priced at $0.525, which was the high for Omni Ventures this year. Omni Ventures was rallying since the start of 2012 until that time. Despite nearly 2 months’ dropping, Omni Ventures has a total gain of 17.27& since New Year’s Day.

Here are some more of Omni Venture’s recent headlines:

  • On May 30th, 2012, Omni Ventures announced that it secured the financing commitment in the amount of $1,500,000 from one of its shareholders slated for the development and launch of the PRVCY Casual Couture collection of apparel and accessories anticipated later this year.
  • On May 29, 2012, the Company entered into a financing agreement with AtCorp, for a credit line of up to $1,500,000. The financing is in the form of a 6% Senior Secured Promissory Note and has a one year term.
  • May 16, 2012, Omni Ventures announced that Mrs. Kristi Kaylor has joined the Company’s Advisory Board and will be assisting the Company with all entertainment marketing and entertainment initiatives for PRVCY.
  • May 14, 2012, Omni Ventures reported the first positive results of its beta social media marketing efforts in promotion of its current collection and attraction of the new customers for future seasons.

Omni Ventures is the owner of PRVCY Couture, 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.

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Published by Fiona Gibson

Fiona is a finance graduate and an expert in analyzing market trends.