Pura Naturals Inc (OTCMKTS:PNAT) is a micro-cap name that has taken hold of the attention of traders on the OTC over the past month. The stock started trading in November and took flight, power up to over $2/share in the past few weeks. So, we wanted to introduce our readers to the name and set the stage for greater familiarity and insight as the story moves forward.
Recent action has seen a bit less than 650% added to share values of the stock over the past month of action. What’s more, the listing has seen interest gradually climb with each passing day. This should not be overlooked with a float in play that’s limited — barely over 15M shares. This type of thing is something to watch out for: a jump in average daily transaction volume in a stock with a restricted float can unleash fireworks as supply is squeezed.
Pura Naturals Inc (OTCMKTS:PNAT) is a company that produces and distributes flies and other fishing supplies, and fly tying instructional DVD’s, as well as bath and body products.
It offers a series of fly fishing flies under the titles of Yummy Tandem Flies, Natural Selection, and Canyon Magic. The company was incorporated in 2005 and is based in Lakewood, Colorado.
The roots of the company come from an entity known as “PURA – DE”, a Delaware corporation, which was formed in 2013. PURA – DE partnered with Advanced Innovative Recovery Technology, Inc. (AIRTech), to create a revolutionary and proprietary bio-based foam called BeBetterFoam that is made from renewable resources instead of petroleum.
PURA- DE markets and sells a line of cleaning products based on the BeBetterFoam platform for consumer kitchen and bathroom, with additional products for outdoor hobbies (fishing and boating, spas and pools), pet care, infant care and industrial use currently under development.
According to company materials, “The Bath & Body line and household (including kitchen) sponges are Oleophilic which means, among other things, that it absorbs oil, grease and grime, removes impurities from skin (cleansing and applying/removing make- up), is latex-free. PURA – DE products are also non-toxic, contain Plant-Based/ renewable resources, have a carbon-negative footprint (removes more carbon than is created), contain no petroleum by-products, use no adhesives or glues, and are infused with soap that is 100% Natural, bio-degradable, sustainable, Vegan, gluten-free, contains botanicals and essential oils; SLS-, Sulfate, Paraben-, and BPA- Free. The BeBetterFoam is hydrophobic, which means it resists and does not support bacteria. PURA – DE believes that the BeBetterFoam also is up to 40 times stronger than the leading kitchen sponge brand. BeBetterFoam is a unique, proprietary polymer process technology that is protected by a trade secret, completely owned by AIRTech and exclusively licensed to PURA – DE, and is incapable of being reverse engineered.
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The company put out a 10-Q highlighting results for the quarter ended September 30, 2016, and the numbers were interesting.
Sales for the nine months ended September 30, 2016 were $323,512 a decrease of $60,324 or 15.7% from $383,836 for the same period in 2015. The decrease was due the loss of major customer due to shipping errors offset by addition of new customers.
Cost of goods sold for the nine months ended September 30, 2016 were $165,224 an increase of $25,546 or 18.3% from $139,678 for the same period in 2015. The increase was due to the addition of new customers. Cost of goods sold as a percentage of sales was 51.1% for the nine months ended September 30, 2016 compared to 36.4% for the same period in 2015. Cost of goods sold increased as a percentage of sales due to product shipped to wrong location not returned to inventory for resale.
Selling expenses for the nine months ended September 30, 2016 were $27,586 a decrease of $81,017 or 74.6% from $108,603 for the same period in 2015. The decrease was due to a decrease in marketing promotions.
General and administrative expenses for the nine months ended September 30, 2016 were $876,364 a decrease of $340,008 or 28.0% from $1,216,372 for the same period in 2015. The decrease was due to a decrease in payroll and related costs.
Earning a current market cap value of $67.5M, PNAT has a very small reserve of cash on the books (about $27k), which is balanced by nearly $400k in total current liabilities.
One should also note that debt has been growing over recent quarters. PNAT is pulling in trailing 12-month revenues of $5.5M. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues falling sharply (at -78.6%). You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $PNAT stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!