Aura Systems (OTCMKTS:AUSI) Announces a New CFO: Stock Flat

Shares of Aura Systems (OTCMKTS:AUSI) have been trading within a narrow range over the past few sessions.

Market Stats

On Thursday, AUSI stock gained 1.45% to 0.42 with more than 22K shares, compared to its average volume of 13K shares. The stock moved within a range of $0.4175 – 0.4200 after opening trading at $0.4175.

Aura Announces Appointment of Steven Willett as Chief Financial Officer

Defense industry think-tank Aura Systems (OTCMKTS:AUSI) on February 17, 2022 announced that Steven Willett joined the firm and is appointed as the Chief Financial Officer, effective February 14, 2022.

David Mann, who served both as Director and CFO since 2018, will be relinquishing post to Willett. Mann expressed delight on Willett joining the team and hopes that his knowledge and capabilities will help position Aura for the future.

Willett be joining the firm from Govino, LLC, where he served as Vice President Finance and CFO since 2017. Prior to that, he served as Director of Finance for the Americas of Identiv, Inc for three years. He also was Director of Finance of aerospace &defense contractor at Trex Enterprises Corporation.

A Bachelor of Science degree in accounting from University of Massachusetts, Willett also has M.B.A. with concentration in finance from Bentley University McCallum Graduate School of Business. Willett said that he is excited to step in as CFO and hopes to help the company execute strategic plan, accelerate growth as well as value to shareholders.

Founded in 1987 by a team of scientists in 1987, Aura Systems Aura collaborated with the country’s biggest defense contractors in the era of Cold War. It also collaborated with a host of both classified and non-classified “Star Wars” skunkworks programs.

Key Quote

“We are pleased to have Mr. Willett join the Aura team; I am confident that his extensive financial knowledge and experience will significantly enhance our capabilities as we proceed to expand our management team and continue to position Aura for the future” explained David Mann, who has served as both a director of the Company and Chief Financial Officer since July 2018 and who will be relinquishing the CFO role to Mr. Willett. Mr. Mann will remain a director.

Traders Corner

AUSI stock is trading below the 20-Day and 50-Day Moving averages of $0.45 and $0.58 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.49.