LAGUNA BEACH, Calif., Aug. 28, 2012 /PRNewswire/ -- Auri, Inc., (OTC PINK: AURI.PK), a fashion and luxury footwear technology licensing company, today announced its business update.
Since filing a Form-15 with the Securities and Exchange Commission to deregister as a public reporting company in an effort to reduce the excessive costs associated with maintaining the status of a reporting company, Auri, Inc., has streamlined and reorganized its business operations to focus its efforts on the licensing of its patented and patent pending technologies, engineered to invisibly integrate into fashion and luxury footwear across a broad spectrum of constructions, styles and brands.
"We are currently in discussions with strategic partners, licensing companies, brand portfolio companies and fashion brands," stated Ori Rosenbaum, CEO of Auri Inc. "We are looking to partner with organizations looking to gain a competitive advantage by providing a luxury experience never before possible in purely fashionable footwear. Often times women will comment on how much they enjoy the way their expensive shoes look, but are almost never happy with the way they feel. We believe that the integration of our patented and patent pending technologies into women's fashion footwear will substantially improve the comfort of these products," continued Rosenbaum.
Auri also reported that it has negotiated extensions with all of its secured note holders to allow additional time to secure licensing deals, generate revenue and source additional operating capital. Additionally, Auri has bolstered its intellectual property portfolio, adding numerous protections to its "Patent Pending" women's technology and obtaining international coverage as well.
"We originally integrated these technologies into our own brand of shoes. Unfortunately, that business model is extremely capital-intensive while limiting growth and scalability. We believe that our new licensing-focused business model, which is less capital intensive, will provide us with the opportunity to integrate our technologies across any number of brands, both domestically and internationally, and provide our brand partners a distinct advantage over their competition by providing their customers greater product satisfaction," continued Rosenbaum.
About Auri, Inc.
Auri has developed, tested and produced a proprietary system of patented and patent pending technologies, engineered to invisibly integrate into fashion and luxury footwear across a broad spectrum of constructions, styles and brands. The portfolio of technologies delivers an immediately felt improvement in both men's and women's footwear. It is cost effective, rapid to integrate, totally invisible and provides new opportunities for growth through a competitive advantage for our partner brands. Brand Video: http://www.youtube.com/watch?v=VhuTMsxR6iw&hd=1
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
With the exception of historical information, the matters discussed in this press release, including without limitation, Auri Inc.'s ability to successfully reorganize its business operations to focus its efforts on the licensing of its patented and patent pending technologies to fashion footwear brands domestically and internationally; and that consumers will be treated to a better overall experience with products that incorporate Auri, Inc.'s technologies are forward-looking statements that involve a number of risks and uncertainties. The actual future results of Auri, Inc. could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, the ability of Auri, Inc. to successfully negotiate licensing agreements with fashion footwear brands; Auri, Inc.'s ability to attract sufficient capital to continue to its technologies to potential licensees; the ability of Auri, Inc. to attract and retain talented individuals; adverse economic and market conditions; and other events, factors and risks previously and from time to time disclosed publicly.
Ori Rosenbaum, Chairman and CEO - Auri, Inc.
OTC PINK: AURI.PK
Email: [email protected]
SOURCE Auri, Inc.