OCEANIC RESEARCH COM USD0.001 (OTCMKTS:ORRV) Looking To Rebound

OCEANIC RESEARCH COM USD0.001 (OTCMKTS:ORRV), the call center business providing warranty, and help desk administration services, was first reviewed on April 19, 2017 in "Oceanic Research & Recovery Inc (OTCMKTS: ORRV) Is Today's Penny Stock Focus". After the publication of our article, the market pushed up the share price in May and lately entered into a consolidation movement, wherein the volume has increased quite a bit, crossing sometimes the 0.5 billion shares mark.SourceMarket participants checking Yahoo Finance will not find any press release from the company, thus they may think that the company is not communicating anything. However, we researched a little further and found new press releases here, wherein the company included updates about new achievements as well as agreements with financing sponsors. In this article, readers can find an assessment of the most important information disclosed recently by ORRV.Recent DevelopmentsBefore anything else, let's review the business of the company.

"The company operates a call center business providing jobs to professional phone representatives in the United States. The main role of the employees is to function as help desks for large consumer electronics firms. Manufacturers reduce costs using the company’s employees, who normally offer troubleshooting problems over the phone and warranty support. The call center is located in Dallas, Texas, and the website notes that the company is staffed by United States citizens." Oceanic Research & Recovery Inc (OTCMKTS: ORRV) Is Today's Penny Stock Focus"

The first press release after we published our article was this notice of special meeting of stockholders. One day later, on April 21, 2017, this press release was put out, wherein the CEO, Will McCusker, explained the new changes that were going to be voted. The shareholders’ meeting was not going to be very relevant, as the business objective of the company was not going to be modified:

• Change of the custodian
• New board members
• Change of the ticker to MCCU

The following press releases are very important. In this one put out on May 17, 2017, it is said that Northbridge Financial Inc. signed an agreement with the company, under which the company agreed to issue stock to Northbridge in exchange "for settlement of certain outstanding final round debts of the Company in the principal and interest amount (1) of $76,315.24 and (2) of $104,833.26 respectfully the settlement amounts of past due obligations and accounts payable of the company."What does it mean?It means that the company finally found a financial sponsor that is willing to support the operation of the company. Northbridge is buying debt of ORRV and will receive shares in return. The risk is that previous shareholders will be diluted. However, if the company can grow its business, it will definitely offset the dilution.In another press release put out on May 31, 2017, the CEO noted the previous achievements of the company and the large amount of customers that use its call center services. The most interesting comment was the following:

"McCusker Holdings Corp has grown into a strong and diverse company, reliably delivering services to more than 760,000 consumers and businesses in United States this year not even counting our international impact. " Source

Financial informationThe last annual financial statements were released for the period ended in December 2016. Following are the most relevant assets, liabilities and equity:

• Cash (bank): $19,998.97
• Total fixed assets: $81,113.98
• Total current liabilities: $121,382.90

ConclusionMarket participants seem to be accumulating ORRV shares at the moment betting on a rebound. There are several reasons to explain it. First of all, the volume at the recent prices seem to ratify this thesis. Additionally, Northbridge signed an agreement with the company, wherein it was noted that the company decided to pay some of the company's debts and acquire ORRV shares. Finally, the fact that the CEO is continuously communicating about the company's growth is very positive and boosting shareholder confidence. To sum up, try to check the company from time to time, as this rebound could really get going fast. We will be updating our subscribers as soon as we know more. For the latest updates on ORRV, sign up below!Disclosure: We have no position in ORRV and have not been compensated for this article.