Pat McKeough recently replied to an Inner Circlememberlooking for an opinion on this producer of environmentally friendly cleaners. But the market cap for Pura Naturals may fail to reflect the challenges ahead, says Pat.
Q: Pat: A stock that is of interest to me is one that trades over the counter: Pura Naturals, PNAT.
A:PURA NATURALS (symbol PNAT on the U.S. over-the-counter bulletin board: www.puranaturalproducts.com) makes and markets a range of household-cleaning and personal-care sponges that come presoaked in a natural soap solution that absorbs grease and grime without use of chemicals. The company’s environmentally friendly products also aim to repel water and inhibit bacterial growth and odors.
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In November 2016, the company changed its name from Yummy Flies, Inc. Pura still produces and distributes fishing flies and other fishing supplies, along with fly-tying instructional DVDs. However, it looks like the company is now focused on its cleaning products.
Pura has issued press releases saying those products are now in select Target, Whole Foods Market, and Bed Bath & Beyond stores as well as Meijer supermarkets.
The stock began trading in November 2016 as Pura Naturals at around $1.50, and quickly jumped to as high as $3.70. It has since moved down to the current price.
Growth Stocks: Suffered $746,267 loss in the quarter
In the three months ended September 30, 2016, Pura had sales of just $73,284. It lost $746,267 in the quarter. The company holds cash of just $27,356.
On January 17, 2017, OTC Markets informed Pura that it had become aware of certain promotional activities focused on the company and its common stock. That material appeared to tout Pura to investors and encourage them to purchase stock. OTC Markets is concerned the promotional activity has had an effect on trading activity for the stocks.
Pura says it is unaware of the full nature and content of any promotional activity, including a related email newsletter. The company also says that it is unaware of who is behind the campaign or the extent to which newsletters were circulated.
Pura’s cleaning products have a lot of conceptual appeal, but it operates in an intensely competitive market dominated by market giants. Its $75.5 million market cap fails to reflect the difficulty of future success, which is far from guaranteed.
Inner Circle recommendation: We don’t recommend shares of Pura Naturals.
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