Auri Inc. (OTC:AURI) did little to impress traders yesterday, yet, it is bound to awaken their interest today as AURI stock has just stepped into the promotional spotlight.
What happened during yesterday’s session has hardly made AURI supporters proud of their investment. Not only did AURI stock gain 1.69% to close at $0.60 per share, but also the volume failed to live up to expectations with barely 18 thousand shares changing hands. The latter turned out to be among the company’s lowest scores ever in terms of turnover.
Obviously dissatisfied with that performance, third parties wasted no time in approaching a paid promoting party to raise awareness about AURI stock within the next couple of days. As it is, they have now put up $30 thousand to ensure a two-day coverage in support of AURI. Given what AURI stock did the last time it was promoted in late-June, however, the impact of the current promotion appears to be fairly unpredictable.
If this were not enough, the advertising activity does not seem to be backed up by any news whatsoever. In fact, AURI managers have kept silent since Jul. 7 when they announced their intention to continue to rely on the services of investor relations advisor MZ-HCI.
Headquartered in Laguna Beach, CA, Auri Inc. specializes in developing men’s and women’s footwear under the Auri brand name. To reach its end customers, the company uses a mix of wholesale distribution channels including department stores, specialty stores, as well as independent retailers. In addition, prospective customers can buy AURI footwear directly through the company’s website.
Considering that AURI has so far managed to keep a fairly transparent financial profile on the OTC market, it is no wonder that the company has decided to retain MZ-HCI as its IR advisor. The company closed the first calendar quarter of 2011 with:
- cash reserves in excess of $210 thousand as opposed to $406K accumulated by Dec. 31;
- working capital surplus of $37K vs. $240K in Q4 of 2010;
- net sales to the amount of $304 thousand as compared to $139K in the preceding quarter;
- net loss of $329 thousand vs $207K accrued in the last calendar quarter of 2010.
