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They also have a sustainable Business Strategy...here it is...
The Company continues to leverage its strengths in design innovation and technology integration with strategic partners to drive growth in three complementary businesses: 1) Auri branded footwear products, 2) Licensing and 3) Co-branding.
Auri's branded footwear products offer groundbreaking technologies, materials and design, leveraging its innovative technologies across its men's and women's fashion footwear collections. Auri's approach in utilizing its design process with its patented technologies such as active heel suspension systems is just one of the brands innovative solutions with more in design and development. The brand presents over 200 fashionable men's and women's SKUs in their Fall 2011 and Spring 2012 collections that will be available in over 200 locations nationwide. Auri's women's fall collection sells at a retail price range from $145-$295. The men's collection features a diverse lineup of casual, dress, and sportswear oriented footwear. Retail prices for the men's line range from $150-$285.
Auri continues to build its portfolio of intellectual property and to integrate its expertise and technologies into fashionable footwear across a broad spectrum of styles and constructions. In combination with its own branded footwear products, Auri plans to maximize profits, grow its brand equity through strategic collaborations and co-branding opportunities. The Company is already in advanced discussions with a number of industry-leading brands to develop, design and collaborate on a number of lines of technologically superior fashion footwear products.
In a highly competitive market place such as the fashion footwear segment, every brand is looking to differentiate from the competition. With four (4) design and utility patents already issued and more pending, Auri is uniquely positioned to secure licensing, collaborative, and co-branding agreements that will elevate its brand equity and increase profitability.
And here it is Techno.....AURI Qtrly Report,....Auri Announces Third Quarter 2011 Results
LAGUNA BEACH, Calif., Nov. 15, 2011 /PRNewswire via COMTEX/ -- Auri, Inc., (OTCQB: AURI), an innovative fashion and technology footwear design lab, today announced financial results for the three and nine months ended September 30, 2011.
Third Quarter 2011 Highlights:
YTD 2011 revenues increased 65% to $761,277; Women's footwear YTD 2011 revenues up 175% to $359,546
Added 23 new retail distribution points in the third quarter; 63 total retail locations at September 30, 2011
Three Months Ended September 30, 2011
Revenues for the three months ended September 30, 2011 were $287,453, an increase of 183% from $101,682 for the three months ended September 30, 2010. The men's segment continued to grow in door count over the previous year. The significant growth in the women's segment is directly attributed to a broader and more comprehensive collection of women's footwear delivered in the third quarter versus the same period a year ago. The application of Auri's innovative technologies, delivering true luxury in the form of groundbreaking comfort in fashion footwear has generated new sales and provided growth and reorder business.
Cost of sales for the three months ended September 30, 2011 increased to $260,778 from $99,572 in the year ago period. Gross margin increased to 9.3% in the three months ended September 30, 2011 from 2.1% in the comparable period a year ago.
Selling, general and administrative expenses were $542,431 in the third quarter of 2011 compared to $151,965 in the same period a year ago. Auri incurred $112,000 of public company expenses, including $36,120 of non-cash stock-based compensation expenses, which was not present in the year-ago period.
Loss from operations was $515,756 in the third quarter of 2011 compared to $149,885 in the same period in 2010.
Net loss for the three months ended September 30, 2011 was $553,252 compared to a $152,568 loss for the three months ended September 30, 2010. The diluted loss per share was $0.01 based on 90.5 million weighted average shares outstanding in the third quarter of 2011 compared to $0.00 and 53.3 million shares in the same period a year ago, respectively.
Nine Months Ended September 30, 2011
Revenues for the nine months ended September 30, 2011 increased 65% to $761,277 from the year ago period. Sales of women's footwear increased approximately 175% to $359,546 and benefited from delivering two complete seasonal collections versus 1.5 in 2010. Overall growth included 11 new doors at department stores and 52 new boutiques.
Cost of sales for the nine months ended September 30, 2011 was $643,806 versus $351,960 last year. Gross profit was $117,471 in the first nine months of 2011 versus $110,421 in the first nine months of 2010, with associated gross margins of 15.4% and 23.9%, respectively.
Selling, general and administrative expenses increased from $594,116 to $1,423,704 due primarily to additional legal fees, addition of sales personnel and increased marketing/trade show attendance. In addition, the Company spent approximately $393,000 in public company expenses during the first nine months of 2011, which were not present in the comparable period a year ago. Operating loss was $1,306,233 compared to $483,695 in the first nine months of 2010.
Net loss for the first nine months of 2011 was $1,390,972 as compared to a loss of $490,157 during the nine months ended September 30, 2010. The diluted net loss per share for the first nine months of 2011 was $0.02 based on 83.3 million weighted average shares outstanding.
Liquidity and Capital Resources
As of September 30, 2011, the Company had $108,795 of cash and cash equivalents and $116,670 of long term debt outstanding. Working capital was $350,301 at September 30, 2011 compared to $240,325 at December 31, 2010.
The Company received $1.0 million in net proceeds from various private placements in the nine months ended September 30, 2011. Based on current projected working capital needs for the next twelve months, the Company needs to raise additional capital to meet its operating goals.
Business Strategy Update
The Company continues to leverage its strengths in design innovation and technology integration with strategic partners to drive growth in three complementary businesses: 1) Auri branded footwear products, 2) Licensing and 3) Co-branding.
Auri's branded footwear products offer groundbreaking technologies, materials and design, leveraging its innovative technologies across its men's and women's fashion footwear collections. Auri's approach in utilizing its design process with its patented technologies such as active heel suspension systems is just one of the brands innovative solutions with more in design and development. The brand presents over 200 fashionable men's and women's SKUs in their Fall 2011 and Spring 2012 collections that will be available in over 200 locations nationwide. Auri's women's fall collection sells at a retail price range from $145-$295. The men's collection features a diverse lineup of casual, dress, and sportswear oriented footwear. Retail prices for the men's line range from $150-$285.
Auri continues to build its portfolio of intellectual property and to integrate its expertise and technologies into fashionable footwear across a broad spectrum of styles and constructions. In combination with its own branded footwear products, Auri plans to maximize profits, grow its brand equity through strategic collaborations and co-branding opportunities. The Company is already in advanced discussions with a number of industry-leading brands to develop, design and collaborate on a number of lines of technologically superior fashion footwear products.
In a highly competitive market place such as the fashion footwear segment, every brand is looking to differentiate from the competition. With four (4) design and utility patents already issued and more pending, Auri is uniquely positioned to secure licensing, collaborative, and co-branding agreements that will elevate its brand equity and increase profitability.
About Auri, Inc.
Auri is an innovative fashion and technology design lab, leveraging advanced technologies and performance materials to create and market distinctive fashion footwear, providing new levels of comfort in the fashion segment. Crafted with Italian leathers and hand finished details, the products incorporate a seamless fusion of next level technologies and style, delivering a unique experience of true luxury. For more information, please visit www.aurifootwear.com.
Safe Harbor Statement
This press release contains certain statements that may include 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believe, expect, anticipate, optimistic, intend, will" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risks and other factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts: Investor Relations: Ted Haberfield, President MZ North America, IR MZ Group Phone: (760) 755-2716 Email: thaberfield@hcinternational.net Web: www.mz-ir.com
Hey tommyboy, this one has it all going for it 'cept PPS, volume and news...LOL...go figure.
HBRM..Fully compliant and reporting Pink Sheet. From OTC markets link here...
http://www.otcmarkets.com/stock/HBRM/quote
http://www.otcmarkets.com/stock/HBRM/company-info
I wish the CEO had more news to brief us on. A little news is all we need to get HBRM liquid again...tons of upside...
Great video tommyboy! Where you digging this stuff up...LOL
These shoes are gonna go nuts this holiday season IMHO!http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias%3Dapparel&field-keywords=auri+shoes
Recent 10-Q from November 2011...link here...
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8244625
Recent 10-Q from November 2011...link here...
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8244625
AURI Security Details
Share Structure
Market Value1 $25,339,322 a/o Nov 16, 2011
Shares Outstanding 90,497,580 a/o Aug 09, 2011
Float Not Available
Authorized Shares Not Available
Par Value 0.001
Shareholders
Shareholders of Record 154 a/o Apr 14, 2011
Corporate Actions
Ex. Date Record Date Pay Date
Dividend (0.00) Jul 27, 2010 Aug 09, 2010
Dividend (0.00) Jul 27, 2010 Sep 09, 2010
Security Notes
•Capital Change=shs increased by 1.4 for 1 split. Ex-date=10/01/2003. Rec date=09/25/2003. Pay date=09/30/2003.
•Capital Change=shs increased by 3 for 1 split. Ex-date=10-6-04. Rec date=9-27-04. Pay date=10-5-04
•Capital Change=shs increased by 5 for 1 split. Ex-date=07/21/2003. Rec date=07/09/2003. Pay date=07/19/2003.
•Capital Change=shs decreased by 1 for 25 split. Pay date=6-29-06
•Capital Change=shs decreased by 1 for 100 split. Pay date=06/07/2007.
Short Selling Data
Short Interest 4,517 (46.8%)
Oct 31, 2011
Significant Failures to Deliver No
Transfer Agent(s)
Corporate Stock Transfer, Inc.
Oh my goodness yes. This is as straight as a bears woody as they like to say in Alaska. AURI is no mess waiting to happen...IMHO, it is solid, solid ,solid !!
What a train wreck. Looks like the shell got paid for today. I imagine Albion had no clue it could look like this end of day. Let them start selling in Texas and they will never stop. HOD was less than an hour in to the trading...from there it was T I M B E R !!
Unreal mess.
I have a great feeling about AURI dude...that other one, well live to fight another day.
Thanks for the compliment. It is a '72 Maserati Ghibli...It will turn 40 next year. Full restoration ground up....some fun ride in the desert for sure.
This young CEO is on to something huge...comfort and style..Auri Looks For Balance
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Wayne Niemi
Ori Rosenbaum, president and CEO of Auri Footwear, has a unique task ahead of him: hiding what he does best.
As the company prepares for the full launch of its women’s collection for spring ’11, Rosenbaum said he’s learned that in the fashion world, the term “comfort” is sometimes a dirty word. And to be successful in the emerging world of fashion-comfort hybrids, he needs to showcase what is gorgeous about a shoe, while skillfully cloaking the technology that makes it enjoyable to wear.
“When we say [we have] ‘comfort,’ buyers don’t really believe it because we’ve done such a good job technologically of camouflaging that aspect of it,” Rosenbaum said. “Yet the shoes are super-flexible, super-lightweight and have active suspension, a heel pad, a heel cup, arch support — all built inside a fashionable shoe. We’re looking to create a new segment because [our shoes are] absolute fashion and luxury.”
That combination has helped the company win a diverse assortment of retail accounts since it soft launched women’s product last spring. Currently, it’s sold to about 45 doors, including The Walking Co. and Fred Segal Feet in Los Angeles. For the full collection, the company would like to triple that to about 150.
“I absolutely think that’s a realistic goal,” said Rosenbaum.
For their part, retailers said Auri’s women’s offering is off to a strong start.
“The women’s shoes have sold well, and it’s been a nice business,” said Fred Segal Feet owner Stanley Silver.
Jeff Greenberg, owner of Lloyds of Carmel, Calif., said he had not yet seen the new styles in the spring line, but has seen positive sales for the two shoes he currently carries.
“[The line is] sporty and has a little bit of a zip to it in its attitude,” said Greenberg. “We’ve been very pleased with the results. [The shoes] have a nice suede insole with padding and arch support, and customers tend to like that a lot.”
The women’s line retails at $100 for ballerinas, $145 for sport shoes, and $180 for some high-heel styles and unique sandals, with boots going as high as $200. In men’s, retail prices range from $150 to $250.
Rosenbaum likes to describe the company’s approach to shoes as “Michelangelo meets NASA,” due to its combination of artful styling and serious technology. Last October, Forbes magazine agreed that Auri was on to something unique when it named the firm one of America’s Most Promising Young Companies, ranking it eighth on a list of 20.
Yet Rosenbaum has no background in footwear or fashion, other than as a consumer. But, he said, he has read up on a common complaint among retailers, and believes he has the solution.
“I clipped out 27 articles that claimed there was no newness, no freshness, no excitement, that everything was bland and old,” he said. “When people ask for something new, fresh and unique with a different mindset, we can bring that.”
Twenty-seven years ago, Rosenbaum sped into business with his brother and founded a company specializing in automotive aftermarket parts, those added on by consumers to customize and increase the performance of their vehicles.
After selling his share in the company, Rosenbaum used his knowledge of rotational molding, a manufacturing process used in racing, to found an audio speaker company, which he sold to Stillwater Designs a mere six months later. For the past 15 years, he has worked as a packaging and shipping consultant for several names in the automotive and high-tech industries, including Jaguar, Porsche, Apple and Sony.
“I was really an outsourcing specialist,” Rosenbaum said. “I brought in specialists, engineers, designers, developers, production houses, factories. That’s why I knew that outside, there were experts who could be brought into the footwear business.”
Though Rosenbaum founded Auri in 2006, the men’s collection didn’t debut until spring ’08. Without selling any merchandise in advance, Rosenbaum ordered product on 13 SKUs.
“It was a leap-of-faith order,” he said, and one that ultimately paid off. “We sold them all.”
In spring ’10, the company decided to test women’s product by simply putting a few styles in its trade show booth and showing them to men’s buyers who might also carry women’s shoes. Again, Rosenbaum took a gamble and pre-ordered 5,000 pairs. “We did this with a soft launch, a tight assortment, no advertising, no marketing,” he said.
The result was so successful that Rosenbaum said the company needed to take a step back for fall to perfect the women’s vision before fully attacking the market for spring ’11.
“We took the next year to labor feverishly, to get this right because you have to be dead-on with women’s,” Rosenbaum said. “It can’t be 90 percent of the way there; it has to be 100 percent. We wanted to make sure we hit the trend, the fashion, the colors and, more important, that they actually functioned the way we said they did.”
However, as soon as the designers started developing heels, a new crop of technological challenges arose. “The minute you elevate the heel, you start dealing with weird geometries and pressure, but we have something called an asymmetrical arch support system,” Rosenbaum said. “It’s a gel that conforms to the shape of the foot to mitigate the weight transfer. Then you have some heel support and a cup to hold the heel, and, of course, all the technology of the cushioning, yet it’s still a beautiful shoe.”
And convincing women that comfortable shoes can be fashionable may be one of the company’s greatest challenges.
Rosenbaum recalled an experience at a recent family function where word spread that he was creating a women’s line of shoes.
“I was encircled by a group of 40-year-old women,” he said. “They started challenging me, saying, ‘We hear you’re going to make heels that are comfortable. Is that true? Are they going to be ugly?’ I was confronted by aggressive bar mitzvah-going women who just couldn’t believe it. When I left there, I knew I had struck a chord.”
For the moment, women’s shoes make up about 30 percent of sales, but Andrew Tastad, VP of sales, said that would likely soon change. “We’re already forecasting in our models that [women’s sales] will overtake men’s by the end of next year,” he said.
I am ready big time...took a small hit on AT?G today.....some fellers killed that one too soon. I am ready to recover on AURI tomorrow....
WOW!! Some DD ...much appreciated sir. Looks like a winner to me.
For 7K shares traded, this has a lot of chatter....something cooking...I can smell it...LOL
AURI nice news Tuesday went unnoticed...
Auri Announces Third Quarter 2011 Results PR Newswire "Press Releases US - English"
LAGUNA BEACH, Calif. , Nov. 15, 2011 /PRNewswire/ -- Auri, Inc. , (OTCQB: AURI), an innovative fashion and technology footwear design lab, today announced financial results for the three and nine months ended September 30, 2011 .
Third Quarter 2011 Highlights:
YTD 2011 revenues increased 65% to $761,277 ; Women's footwear YTD 2011 revenues up 175% to $359,546
Added 23 new retail distribution points in the third quarter; 63 total retail locations at September 30, 2011
Three Months Ended September 30, 2011
Revenues for the three months ended September 30, 2011 were $287,453 , an increase of 183% from $101,682 for the three months ended September 30, 2010 . The men's segment continued to grow in door count over the previous year. The significant growth in the women's segment is directly attributed to a broader and more comprehensive collection of women's footwear delivered in the third quarter versus the same period a year ago. The application of Auri's innovative technologies, delivering true luxury in the form of groundbreaking comfort in fashion footwear has generated new sales and provided growth and reorder business.
Cost of sales for the three months ended September 30, 2011 increased to $260,778 from $99,572 in the year ago period. Gross margin increased to 9.3% in the three months ended September 30, 2011 from 2.1% in the comparable period a year ago.
Selling, general and administrative expenses were $542,431 in the third quarter of 2011 compared to $151,965 in the same period a year ago. Auri incurred $112,000 of public company expenses, including $36,120 of non-cash stock-based compensation expenses, which was not present in the year-ago period.
Loss from operations was $515,756 in the third quarter of 2011 compared to $149,885 in the same period in 2010.
Net loss for the three months ended September 30, 2011 was $553,252 compared to a $152,568 loss for the three months ended September 30, 2010 . The diluted loss per share was $0.01 based on 90.5 million weighted average shares outstanding in the third quarter of 2011 compared to $0.00 and 53.3 million shares in the same period a year ago, respectively.
Nine Months Ended September 30, 2011
Revenues for the nine months ended September 30, 2011 increased 65% to $761,277 from the year ago period. Sales of women's footwear increased approximately 175% to $359,546 and benefited from delivering two complete seasonal collections versus 1.5 in 2010. Overall growth included 11 new doors at department stores and 52 new boutiques.
Cost of sales for the nine months ended September 30, 2011 was $643,806 versus $351,960 last year. Gross profit was $117,471 in the first nine months of 2011 versus $110,421 in the first nine months of 2010, with associated gross margins of 15.4% and 23.9%, respectively.
Selling, general and administrative expenses increased from $594,116 to $1,423,704 due primarily to additional legal fees, addition of sales personnel and increased marketing/trade show attendance.In addition, the Company spent approximately $393,000 in public company expenses during the first nine months of 2011, which were not present in the comparable period a year ago.Operating loss was $1,306,233 compared to $483,695 in the first nine months of 2010.
Net loss for the first nine months of 2011 was $1,390,972 as compared to a loss of $490,157 during the nine months ended September 30 , 2010.The diluted net loss per share for the first nine months of 2011 was $0.02 based on 83.3 million weighted average shares outstanding.
Liquidity and Capital Resources
As of September 30, 2011 , the Company had $108,795 of cash and cash equivalents and $116,670 of long term debt outstanding. Working capital was $350,301 at September 30, 2011 compared to $240,325 at December 31, 2010 .
The Company received $1.0 million in net proceeds from various private placements in the nine months ended September 30, 2011 . Based on current projected working capital needs for the next twelve months, the Company needs to raise additional capital to meet its operating goals.
Business Strategy Update
The Company continues to leverage its strengths in design innovation and technology integration with strategic partners to drive growth in three complementary businesses: 1) Auri branded footwear products, 2) Licensing and 3) Co-branding.
Auri's branded footwear products offer groundbreaking technologies, materials and design, leveraging its innovative technologies across its men's and women's fashion footwear collections. Auri's approach in utilizing its design process with its patented technologies such as active heel suspension systems is just one of the brands innovative solutions with more in design and development. The brand presents over 200 fashionable men's and women's SKUs in their Fall 2011 and Spring 2012 collections that will be available in over 200 locations nationwide. Auri's women's fall collection sells at a retail price range from $145-$295 .The men's collection features a diverse lineup of casual, dress, and sportswear oriented footwear. Retail prices for the men's line range from $150-$285 .
Auri continues to build its portfolio of intellectual property and to integrate its expertise and technologies into fashionable footwear across a broad spectrum of styles and constructions. In combination with its own branded footwear products, Auri plans to maximize profits, grow its brand equity through strategic collaborations and co-branding opportunities. The Company is already in advanced discussions with a number of industry-leading brands to develop, design and collaborate on a number of lines of technologically superior fashion footwear products.
In a highly competitive market place such as the fashion footwear segment, every brand is looking to differentiate from the competition. With four (4) design and utility patents already issued and more pending, Auri is uniquely positioned to secure licensing, collaborative, and co-branding agreements that will elevate its brand equity and increase profitability.
About Auri, Inc.
Auri is an innovative fashion and technology design lab, leveraging advanced technologies and performance materials to create and market distinctive fashion footwear, providing new levels of comfort in the fashion segment.Crafted with Italian leathers and hand finished details, the products incorporate a seamless fusion of next level technologies and style, delivering a unique experience of true luxury. For more information, please visit www.aurifootwear.com.
Safe Harbor Statement
This press release contains certain statements that may include 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995.These forward-looking statements are often identified by the use of forward-looking terminology such as "believe, expect, anticipate, optimistic, intend, will" or similar expressions.Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected.Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission .All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risks and other factors.Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts: Investor Relations: Ted Haberfield , President MZ North America, IR MZ Group Phone: (760) 755-2716 Email: thaberfield@hcinternational.net Web: www.mz-ir.com
AURI nice news Tuesday went unnoticed...
Auri Announces Third Quarter 2011 Results PR Newswire "Press Releases US - English"
LAGUNA BEACH, Calif. , Nov. 15, 2011 /PRNewswire/ -- Auri, Inc. , (OTCQB: AURI), an innovative fashion and technology footwear design lab, today announced financial results for the three and nine months ended September 30, 2011 .
Third Quarter 2011 Highlights:
YTD 2011 revenues increased 65% to $761,277 ; Women's footwear YTD 2011 revenues up 175% to $359,546
Added 23 new retail distribution points in the third quarter; 63 total retail locations at September 30, 2011
Three Months Ended September 30, 2011
Revenues for the three months ended September 30, 2011 were $287,453 , an increase of 183% from $101,682 for the three months ended September 30, 2010 . The men's segment continued to grow in door count over the previous year. The significant growth in the women's segment is directly attributed to a broader and more comprehensive collection of women's footwear delivered in the third quarter versus the same period a year ago. The application of Auri's innovative technologies, delivering true luxury in the form of groundbreaking comfort in fashion footwear has generated new sales and provided growth and reorder business.
Cost of sales for the three months ended September 30, 2011 increased to $260,778 from $99,572 in the year ago period. Gross margin increased to 9.3% in the three months ended September 30, 2011 from 2.1% in the comparable period a year ago.
Selling, general and administrative expenses were $542,431 in the third quarter of 2011 compared to $151,965 in the same period a year ago. Auri incurred $112,000 of public company expenses, including $36,120 of non-cash stock-based compensation expenses, which was not present in the year-ago period.
Loss from operations was $515,756 in the third quarter of 2011 compared to $149,885 in the same period in 2010.
Net loss for the three months ended September 30, 2011 was $553,252 compared to a $152,568 loss for the three months ended September 30, 2010 . The diluted loss per share was $0.01 based on 90.5 million weighted average shares outstanding in the third quarter of 2011 compared to $0.00 and 53.3 million shares in the same period a year ago, respectively.
Nine Months Ended September 30, 2011
Revenues for the nine months ended September 30, 2011 increased 65% to $761,277 from the year ago period. Sales of women's footwear increased approximately 175% to $359,546 and benefited from delivering two complete seasonal collections versus 1.5 in 2010. Overall growth included 11 new doors at department stores and 52 new boutiques.
Cost of sales for the nine months ended September 30, 2011 was $643,806 versus $351,960 last year. Gross profit was $117,471 in the first nine months of 2011 versus $110,421 in the first nine months of 2010, with associated gross margins of 15.4% and 23.9%, respectively.
Selling, general and administrative expenses increased from $594,116 to $1,423,704 due primarily to additional legal fees, addition of sales personnel and increased marketing/trade show attendance.In addition, the Company spent approximately $393,000 in public company expenses during the first nine months of 2011, which were not present in the comparable period a year ago.Operating loss was $1,306,233 compared to $483,695 in the first nine months of 2010.
Net loss for the first nine months of 2011 was $1,390,972 as compared to a loss of $490,157 during the nine months ended September 30 , 2010.The diluted net loss per share for the first nine months of 2011 was $0.02 based on 83.3 million weighted average shares outstanding.
Liquidity and Capital Resources
As of September 30, 2011 , the Company had $108,795 of cash and cash equivalents and $116,670 of long term debt outstanding. Working capital was $350,301 at September 30, 2011 compared to $240,325 at December 31, 2010 .
The Company received $1.0 million in net proceeds from various private placements in the nine months ended September 30, 2011 . Based on current projected working capital needs for the next twelve months, the Company needs to raise additional capital to meet its operating goals.
Business Strategy Update
The Company continues to leverage its strengths in design innovation and technology integration with strategic partners to drive growth in three complementary businesses: 1) Auri branded footwear products, 2) Licensing and 3) Co-branding.
Auri's branded footwear products offer groundbreaking technologies, materials and design, leveraging its innovative technologies across its men's and women's fashion footwear collections. Auri's approach in utilizing its design process with its patented technologies such as active heel suspension systems is just one of the brands innovative solutions with more in design and development. The brand presents over 200 fashionable men's and women's SKUs in their Fall 2011 and Spring 2012 collections that will be available in over 200 locations nationwide. Auri's women's fall collection sells at a retail price range from $145-$295 .The men's collection features a diverse lineup of casual, dress, and sportswear oriented footwear. Retail prices for the men's line range from $150-$285 .
Auri continues to build its portfolio of intellectual property and to integrate its expertise and technologies into fashionable footwear across a broad spectrum of styles and constructions. In combination with its own branded footwear products, Auri plans to maximize profits, grow its brand equity through strategic collaborations and co-branding opportunities. The Company is already in advanced discussions with a number of industry-leading brands to develop, design and collaborate on a number of lines of technologically superior fashion footwear products.
In a highly competitive market place such as the fashion footwear segment, every brand is looking to differentiate from the competition. With four (4) design and utility patents already issued and more pending, Auri is uniquely positioned to secure licensing, collaborative, and co-branding agreements that will elevate its brand equity and increase profitability.
About Auri, Inc.
Auri is an innovative fashion and technology design lab, leveraging advanced technologies and performance materials to create and market distinctive fashion footwear, providing new levels of comfort in the fashion segment.Crafted with Italian leathers and hand finished details, the products incorporate a seamless fusion of next level technologies and style, delivering a unique experience of true luxury. For more information, please visit www.aurifootwear.com.
Safe Harbor Statement
This press release contains certain statements that may include 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995.These forward-looking statements are often identified by the use of forward-looking terminology such as "believe, expect, anticipate, optimistic, intend, will" or similar expressions.Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected.Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission .All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risks and other factors.Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts: Investor Relations: Ted Haberfield , President MZ North America, IR MZ Group Phone: (760) 755-2716 Email: thaberfield@hcinternational.net Web: www.mz-ir.com
Look at the volume today. This is awesome to see a green day on this. I am off to see Santa indeed A1.....:)
WOW, you are full of joy and good news this morning. How is it that you are so down on this security?
Once the chart sets up then it may indeed be too late to jump in. I am seeing this as before the end of year. So 5-6 weeks and there are the holidays, a traditionally slow time of year trading wise....so the math says soon IMHO!!!!!!
HBRM..awesome SS..all we need is news and buyers.....simple equation that CEO cannot put together....IMHO
I know..I mean I get taking profits and all...but ride some freebies for fun...I dunno, maybe I am getting old and cranky too soon..LOL
No doubt about it.
Thanks for the clarification. How do you know 7M is too high? I am confused, is it P/E, EPS, dividend %, how do you get the "way too high" statement to make sense.
I dunno, if it is liquid, trade it. GLTY sir.
It feels great to be in early. Always good to get in early and let the stragglers fight for expensive shares....LOL
Looks like yesterdays buyers became todays sellers. Now we get this thing going. Remember folks, we are only 16 minutes into the day.
HUH? I don't get it. Is the market cap huge on this one or is the PPS inflated and won't hold? Your post is confusing.
Thanks mate, great stuff. I like your DD sir.
Very much so tommyboy. I am gonna be one happy camper when this gets back over a penny, that is for dang sure.
I am sure of that A1. At least we told them so....we did our part...told them so and got some shares for ourself.
I know...my L2 is Xmas Tree blinking...eom
Correct Epic....just filling the early gap...no need to worry IMHO...
WOW...this is great volume....looks like we have buyers on board.
BIG Start to the day. Nearly 1M at the bell.