Omni Commerce Corp CCTXF

RE:RE:I'm the new insider

[deet]

ctblizzard wrote: Hey Eric, welcome to the board.

As I have told others here , lots of people pretty beaten up on this one so that is where much of the attitude and cynicism come from. If this starts moving the other way a bit it will get better. I wouldnt take anything personally.

Just some tidbits, much of which you probably already know and then a few ideas.

Company should report financials by August 30th for the year ended April 30th, 2017. We know the first three quarters already have reported approx 1.1 million in sales. I am guessing annual financials will show about 1.2-1.3 million vs 400k the prior year. 

Sales growth was good but KR (Keir) spent a ton of money on marketing last fall and then the money dried up. He was perhaps on the verge of a major deal with Kim Kardashian was held up in France and while we never heard anything formal that might have been just an unexpected bad turn of events.

Earlier in the year KR announced some product difficulties with orders being defective so we are unsure of how ongoing sales have been doing for the quarter that runs from May 1-July 31st, 2017 due to be reported I think late Sept.

While you might be on board for the new opportunities (mekenix, cannibis etc), the strengths here were KR was really good at marketing and product photos and some of us purchased product and felt the product (purse line) had some potential.

Existing lines - Mezzi Purses, Capital eyewear.. somewhat or mostly discontinued line Mline cases (for guns)

Recently KR announced a pivot to this Mekenix deal. We gave 7 million plus shares to purchase a 51% ownership position and they announced some deal with Greyhours watches for a "sales channel" however we have seen no evidence of anything happening (that sales channel was due to be completed in June). There were some young guys involved with Mekenix but not sure if they have moved on. They have not posted to their facebook page since late May, and one who was listed as manager or ceo or whatever works somewhere else now. I have 3 names of people who might have been involved. I was never a big believer in the Mekenix pivot, not sure if things have changed but really until we hear more we can find nothing to show anything is really going on there.

On the product end (purses and sunglasses) I emailed KR a while back as I have some contacts that work with major charities and big businesses for marketing as well as places like the UN gift shops and MOMA (museum of modern art).  I was thinking I could bring in some business as the purses are perfect for the MOMA online gift store and was thinking of charity branded or corp branded items for both lines.

Financially , Mezzi has little to no debt. Back at its peak with about 38 million shares outstanding Mezzi hit a market cap of about 10-11 million dollars. This was when they had very little sales. Of course now the market cap is between 1.5-2 million or so on many more shares outstanding. Please not the stockhouse shares outstanding count is wrong. As best we can tell shares outstanding are 92 million with 6 million in escrow for a floatng os of 86 million.

Problems people here had are that the story has kept changing. One minute we were selling 30k a month in MLINE cases and within a short period of time it looks like that all ended. Then we were "Firing on all cylinders" selling Mezzi purses but sales were almost non-existant until we paid a ton for Demi Lovato. Just as those sales cranked up , we ran out of money. Capital eyewear was to be re-launched in spring of 2016 if I remember correctly but now that is fall of this year.  Then of course we heard of the pivot to Mekenix which made no sense to me and a lot of chatter about shopify and helping merchants sell their stuff with their "great marketing techniques". However on the Mekenix pages there are no case histories, no reviews, no bios, and no info on what these techniques are.

It was also mentioned that Mekenix started working with Victory Square earlier this year. But we could find no info or evidence of such. Their website just went up earlier this year like 4 months ago.  They were supposed to be located in Santa Monica, Ca but at least in my searches have found no evidence that they were registered with the State of California . Of course there could be a name change or perhap things were done through a different entity etc. But nothing to pin these folks down with.

I think KR is really good at some things. Especially high end product photos with models and product placement. However, perhaps because of his background he seems to have felt money was endless. One quarter we raised 1.2 million and spent 900k within a few months.  He has also paid himself a very generous amount of money over the years in consulting and management fees , stock options and such without much performance for shareholders. Perhaps that will change going forward. But based on where we were as a company it seemed excessive.

In any case that is the news from here. My own expectations are that it is not inconceivable that a new story can get the market cap up to 5-10 million range. This is because everything has been pretty negative, much selling is out of the stock already and the worries over cash have depressed the stock price.

525k for what would amount to a big chunk of the post split company seems like chump change to me for a private placement but it could be a start. Venture stocks trade on the story and cash available so those things need to be fixed to move up.

Good luck with your investment 

Another excellent post from ctblizzard. No-nonsense, honest, telling-it-like-it-is. My thoughts exactly.