Auri Inc. (OTCMKTS:AURI) Goes Up a Tier

Auri Inc. (OTCMKTS:AURI) had some good news for their shareholders yesterday. They proudly announced that the attorney letter with respect to current information has been approved which means that the stock has been moved from the Pink Limited Information tier to the Pink Current Information level.

That was not all. They announced that they’ve started selling some 3D products through Amazon, reiterated their intentions to turn the company into a fully reporting entity, and said once again that they eventually want to end up on one of the national exchanges. They also announced for the second time that most of the currently outstanding stock has been locked up which means that the float should be hovering around 62 million shares at the moment.

Basically, half of the press release was full of old information, but despite this, common logic says that regaining the current information status and selling products through Amazon should give investor confidence a boost.

Sadly, common logic doesn’t always prevail in Pennyland. Instead of going up, AURI closed yesterday’s session with nearly a fifth of its value gone. The price at the end of the day was $0.0046 per share and the dollar volume stood at about $171 thousand.

As soon as you check out the message boards, you’ll see what the problem is. It would appear that a lot of people are simply refusing to trust AURI‘s management team. Edward Vakser, a Director and former CEO, in particular is receiving quite a lot of criticism. But are investors right to be staying away from AURI‘s management team?

That, of course, is up to you to decide. You should probably bear in mind, however, that the people currently steering AURI have had some dealings with other penny stocks in the past. Mr. Vakser has been at the helm of companies like 3D Eye Solutions, In (OTCMKTS:TDEY) and ProTek Capital (OTCMKTS:PRPM) and you don’t really need to spend hours worth of research in order to find out that these two enterprises are not doing too well at the moment. When he was the CEO of Artfest International, the company stock got suspended by the SEC due to “questions regarding the accuracy and adequacy of assertions” made in the 10-K form covering the period ended December 31, 2010 (a document that Mr. Vakser signed, by the way).

Todd Moore, AURI‘s Acting President, and Scott Weinert, the company CEO, are also involved with other less-than-successful OTC enterprises. They seem to be at the helm of PBS Holding, Inc. (OTCMKTS:PBHG) and Mr. Weinert also has the reins at SUTIMCo International Inc (OTCMKTS:SUTI). Both PBHG and SUTI are stuck at $0.0001 per share, and both companies have been affiliated with… yes, you guessed it… Mr. Edward Vakser.

By the looks of things Mr. Vakser and his colleagues have left a lot of disappointed investors behind in the past. And this means that you are now faced with a dilemma: Should you walk away because of the management team’s track record? Or should you put your money on the line and hope that things will be different this time?

As we mentioned already, the decision is yours.

About twenty-five minutes after today’s opening bell, AURI is sitting at $0.0038 per share (another 17% in the red).