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
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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.
Contact:
Ori Rosenbaum, Chairman and CEO -
Auri, Inc.
OTC PINK: AURI.PK
Email: ori@aurifootwear.com
SOURCE Auri, Inc.