In a booming and rapidly advancing IT market, On the Go Technologies (OTCBB: OGOH) has positioned itself to become an industry leader through the creation of several divisions that offer solutions in healthcare, entertainment and graphic technologies.
The company is a Value Added Reseller (VAR) and has technicians and marketplace experts set in place to install computers and software for multi-industry businesses. The company’s client portfolio includes names such as Citibank, IMAX, Mazda, Universal Studios and more.
The company recently reported a 7,000% increase in its sales in the past four years; 2007 sales are posted at $27 million, up from $2.73 million in 2004. On the Go attributes the hike in sales to its many acquisitions. The purchase of Infinity, Island and Solutions in Computing also spurred the sales increase.
On the Go has a financing facility with Laurus Funds to borrow up to $5.5 million, collateralized by the company’s assets. Laurus has 28,400 warrants at $32.50; On the Go recently cut $500,000 of its convertible debt and more than $3.9 million in total debt this year.
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