Emrise Corporation (OTCMKTS:EMRI) Rises On Controversial News
[[tagnumber 0]][[tagnumber 1]]Emrise Corporation (OTCMKTS:EMRI) is usually a very thinly traded stock on the OTC markets that rarely attracts investor attention. Recently, we have seen the stock surge on decent volumes, but the movement hasn’t been consistent.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company has made very few press releases and most of the information of the current affairs has been announced only by filings with the SEC. When it comes to the financial side of the business things have been pretty decent compared to other OTC entities. Here are just some of the numbers of prime interest contained in the annual report for 2014.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 9]] [[tagnumber 10]]cash: $2.35 million[[tagnumber 11]] [[tagnumber 10]]current assets: $15 million[[tagnumber 11]] [[tagnumber 10]]current liabilities: $9.81 million[[tagnumber 11]] [[tagnumber 10]]yearly revenues: $35.66 million[[tagnumber 11]] [[tagnumber 10]]yearly net income: $1.26 million[[tagnumber 11]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And while [[tagnumber 24]]EMRI [[tagnumber 25]]is doing pretty fine and has managed to finish 2014 profitable we got news yesterday that there will be a special meeting of shareholders for the approval of the sale of substantially all of the company’s assets, part of a plan of liquidation and dissolution.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]All stockholders of record on May 8, 2015 will be allowed to vote. The news itself managed to push [[tagnumber 24]]EMRI [[tagnumber 25]]stock 11.11% up in the first session of the week and the ticker finished yesterday with a price of $1.05. A total of 334 thousand shares changed their owners, generating $344 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The reason for the interest is that the company plans to distribute cash among the shareholders. The amount, however, isn’t certainly going to compensate for the investment, so due diligence is crucial.[[tagnumber 2]]
