EMS Find Inc (OTCMKTS:EMSF) came into existence just few months ago after the private firm EMS Factory Inc and the publicly traded company Lightcollar, Inc. completed their merger deal. The new entity was formed in order to support the business plan of establishing a mobile platform for consumers and health care providers. These groups can use the mobile platform to connect to medical transport companies in the U.S. as well as in Canada.
The acquisition
In other news, EMS Find last month said that it completed a transaction to acquire Page Out. It can be defined as an advanced interactive platform that manages the emergency response route and gives real time update of response team to the management. EMS Find tried to impress the investors with promising PRs, but failed to hide the real problems related with the company.
The performance
As per the last released financial report, EMS Find Inc (OTCMKTS:EMSF) had zero assets and generated zero revenues. The net loss reported in the quarter was $11,000 while liabilities were $90,000. However, the company had not submitted its annual report which was expected to highlight the resources that the EMS Factory brought with it to the merged firm. The report was supposed to be released back in June and it is already July with no signs of Form 8-K submission.
The problem
The company has still to report the financial report for the fourth quarter of the year. However, EMS Find had given a Notification of Late Filing, which indicates that the company now has additional fifteen days to complete the report. Despite the delay in report and dismal financials, the stock managed to record a high of $2.53 in June.
In last trading session, the stock price of EMSF declines more than 2% to close the trading session at $1.20. The decline came at a share volume of 125,295 compared to average share volume of 262,308.
