Kirin International Holdings Inc (OTCMKTS:KIRI)’s Ascent Comes To A Halt

[[tagnumber 0]][[tagnumber 1]]There hasn’t been a lot of action surrounding the stock of Kirin International Holdings Inc (OTCMKTS:KIRI) after the price surge on increased volumes that we saw in the very first days of this year. The ticker was making very small percentile movements and the daily volumes were kept to a minimum.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]That was, however, until a new pump targeting [[tagnumber 6]]KIRI [[tagnumber 7]]hit investor inboxes. The one from March did manage to increase the trading volumes, but didn’t manage to have the price effect that the most recent one had. It began on May 13 and ended the next day, with effects lasting for 6 trading sessions that [[tagnumber 6]]KIRI [[tagnumber 7]]closed in the green, gaining 236% in value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The ability of KIRI to make such an impressive run is not surprising. After all, these are the numbers that were contained in their latest annual report.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 17]] [[tagnumber 18]]cash: $22 million[[tagnumber 19]] [[tagnumber 18]]total assets: $362.92 million[[tagnumber 19]] [[tagnumber 18]]total liabilities: $305.72 million[[tagnumber 19]] [[tagnumber 18]]revenues: $118.46 million[[tagnumber 19]] [[tagnumber 18]]net loss: $832.48 thousand[[tagnumber 19]] [[tagnumber 28]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those are some impressive numbers for an OTC company, but it appears that things haven’t been going very smoothly compared to the previous year. The revenues have dropped substantially, the net loss has increased and the company has managed to acquire even more liabilities.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, the pump did manage to do its job and push [[tagnumber 6]]KIRI [[tagnumber 7]]into the right direction. The volumes of traded stock also increased as the ticker was headed for a high of $0.84 on Wednesday. Yesterday the company made an announcement that they have retained PCG Advisory as their U.S. investor relations agency of record.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This fluff PR didn’t manage to do anything. In fact, the promotional effort seems to have run out of steam as [[tagnumber 6]]KIRI [[tagnumber 7]]dropped 13.10% and finished the day at $0.73, while a total of 200 thousand shares changed their owners, generating $167 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today we see that the ticker is stabilizing and [[tagnumber 6]]KIRI [[tagnumber 7]]is 4.11% in the green as of the writing of this article. Still, that doesn’t mean that you should skip on doing your due diligence before putting any money on the line.[[tagnumber 2]]