Kirin International Holding Inc (OTCMKTS:KIRI) Slips

[[tagnumber 0]][[tagnumber 1]]After a slow start of the year we saw some impressive results from Kirin International Holding Inc (OTCMKTS:KIRI)’s stock in the past month. The ticker underwent a two day pump treatment that was just enough to get the investor attention and continued to climb through the charts, registering a single red session in the second half of May.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]One reason for the great success of the pump might be the fact that the company does seem a bit undervalued when you look at the numbers contained in its balance sheet. Currently, [[tagnumber 6]]KIRI[[tagnumber 7]] holds a market cap of around $20 million and these are just some of the numbers that were contained in their report for the first quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $10.21 million[[tagnumber 13]] [[tagnumber 12]]total assets: $363.5 million[[tagnumber 13]] [[tagnumber 12]]total liabilities: $308.43 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $22.03 million[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $1.45 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Surely, those are some impressive numbers for an OTC entity. And yet, [[tagnumber 6]]KIRI[[tagnumber 7]] seems to lack the investor attention. The ticker was somewhat stable in the beginning of this month after a few sessions of sliding and we saw the volumes drop significantly.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Yesterday’s session, however, was dreadful. [[tagnumber 6]]KIRI[[tagnumber 7]] wiped 31.33% of its value and there wasn’t even that much trading as the ticker went for a close at $1.03. A total of 81 thousand shares switched hands and generated a mere $93 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]There was no apparent reason for the drop. The news that came from [[tagnumber 6]]KIRI[[tagnumber 7]] HQ were concerning the appointment of two independent Non–Executive Directors. This just means that you should proceed with caution and do your due diligence as always. [[tagnumber 2]]