Auri Inc. (OTCMKTS:AURI) has been quite for some time now, with the last update from the company coming at the end of April. Auri had announced territorial expansion of its offices in Los Angeles. The company had revealed plans for design and product development offices to host a state of the art facility for wall décor manufacturing clients in China. Now the company has come out of the dark stating that it has been experiencing strong sales, since its expansion in LA.
Auri had announced last month that the new offices in LA will be used to cater the needs of customers in and outside the US. The company also hired professionals from the wall décor industry to work at the new facility, with proven track records. Additionally, the new facility was also designed to cater varying needs in the home décor industry, which included home goods, bed & bath, among others. Auri CEO, Scott Weinert, also stated that with the new facilities and development team, the company expects to double its business.
It seems that the CEO was not exaggerating, since the recent reports suggest that the company has opened several new national accounts and is now looking forward to relocation to CA. The second move, in almost a month, is due to the growing commitments of the company in both China and North America. However, as per reports, it would take at least 3-years for the company to complete the relocation process. Additionally, the new location has been strategically selected so it can coordinate with the design team in LA and the companies Chinese clients in Pingo.
Auri is looking forward to the joint venture with Pingo home décor stores, which itself has seen quite a lot of expansion in recent months. The stock had severely suffered from the lack of news from the company in the last month, but that has started to change as the ticker shot up on May 28.
Auri Inc. (OTCMKTS:AURI) traded a whopping 1 billion shares on May 28, to close at $0.00679. The session saw the stock rise by 748.75%, adding $0.00599 to the stock value.