Stanislav Rubakh, the CEO of EMS Find Inc (OTCMKTS:EMSF)had a hard time finding a robust penny stock firm to run. Before joining EMS, he was President of Power Sports Factory Inc (OTCMKTS:PSPF). It must be noted that he and his team did recorded moderate success with last venture.
At one point, the team managed to convince Mario Andretti to put his tag on their products. Unfortunately, Power Sports later got into financial mess and company started facing problems in paying funds to the ex-racing driver. As a result, PSPF had to face a lawsuit which marked the beginning of its end. It slowly went into oblivion and a couple of years ago PSPF stock was finally revoked.
Earlier in 2015, Mr. Rubakh took EMS Find’s helm after the company made its way out of a reverse merger deal and announced a change in the business plan. After he became the CEO, the investor’ expected a turnaround in the performance of the company. However, now they are preparing for disappointment with things not looking good.
EMS Find performance was adversely affected by controversies linked to the company. First its website stated that the electronic platform EMSFIND will be available in first quarter of 2015. Later the site was edited and right now there is no information on when the electronic platform will be ready.
Just weeks after the company got new symbol, it became target of a paid promotional campaign. A landing page was created followed by hard mailers. The result was nothing different as seen with other penny stocks. EMS Find stock first went up and crossed $2.30, and after few trading sessions stumbled and eroded a considerable portion of its total market cap.
EMS Find Inc (OTCMKTS:EMSF) enjoyed a solid gain of 4.55% in the last trading session and retraced almost all the loss incurred in the last couple of sessions. The volume of 126,000 was considerably lower than the daily average of 184,000 and that was not a comfort for the bulls. On the other hand, when seen from the larger perspective, the entire rally of early June has been retraced and the price has been making a base in the range of $1.00-$1.30. So whenever this base building is complete, a breakout above $1.30 will signal the next phase of rise.