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Why On4 Communications Inc (OTCMKTS:ONCI) Is In Focus?

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In the last trading session, the stock price of On4 Communications Inc (OTCMKTS:ONCI) declined more than 7% to close the day at $0.0058. The decline came at a share traded volume of 16.04 million compared to average share volume of 29.99 million. Post the recent decline, the market cap of firm was noted at $2 million.

The buzz

On4 Communications has executed a deal with Garden City Nissan, as well as its other four dealerships. It should be noted that Garden City is the leading Nissan dealer across the world. Steve Berman, the CEO, expressed that they are delighted to report this deal with Garden City Nissan along with its other dealerships in Westchester, Orange County, and Long Island including two more Nissan dealerships, Volvo and Ford.

Garden City Nissan intends to take 300 units a month while the other two Nissan stores will take 75 units each in a month, with Volvo and Ford taking 50 units each a month for total of 550 units a month at $250, amounting $137,500 in monthly orders and a total of $1.65 million in a year. Garden City Nissan as well as the other dealers will get units mid-February.

Berman added that with the finalization of this dealer group it will provide them the credibility they require to get into every dealership of Nissan in the USA. They have been focused on this deal for over six months and finally concluded last week. This marks by far the biggest exclusive dealership they have finalized and, as he stated, it gives them entry into other Nissan Dealership in the nation.

In unrelated news, On4 Communications reported that it has finalized a distribution deal with Cataclean Corp for Ireland and Great Britain for BsafeMobile. The CEO expressed that they are delighted to report a deal with Cataclean Corp to exhibit Bsafe Mobile Bfound Mobile as well as all other items they create in Ireland and Great Britain.

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