It was one of those days for AuraSound Inc. (OTC:ARUZ) this Monday. One of those sessions when the stock performance looks way too odd compared to all the other days. Why ARUZ? Why Monday? Actually, its the penny stock world, so why not? 
So, what we have is a stock explosion. Two sessions would enjoy modest trading volumes, the one after them – a 200 times bigger trading volume. In other words – 300 shares changing hands on Thursday, the same number on Friday. No change in the share price. No change in the share price since June. Well, it was mostly no trading activity during that period. Just $1 per share. After yesterday – $1.80 per share on almost 60k shares exchanging hands. No news, no announcements, no short-selling activity, no promotions. Just 60k shares traded in the first half of the session.
The thing is, this is not the only missing part in the story of AuraSound. While it is not really exceptional in the penny stock world for hypes to take place on the stock market with no apparent catalyst, in this case higher caution should be exercised. Even more so when certain SEC filings are missing, namely quarterly statements. The last one to come out covers the first quarter of the year. Six months after that, not a word about a 10-Q with an end-date June 30th,2011. So, people are left with what they have on March 31st: [BANNER]
- $498k in cash;
- $23.8 million in total current assets;
- $27.7 million in total current liabilities;
- $36.2 million in accumulated deficit;
- $16 million in net revenue;
- $562k in net income;
Actually, not bad, not too bad at all. Still, not enough to justify the missing next balance sheet. In this aspect, while it has been a marvellous run yesterday, it is also still uncertain what would happen during the next few sessions.
