Hiru Corp (OTCMKTS:HIRU) Stock Falls A But After The Corporate Update?
Shares of Hiru Corp (OTCMKTS:HIRU) ended lower in Tuesday’s trading session after announcing the news.
Market Action:
On Tuesday, HIRU stock slid 5.56% at $0.0102 with more than 9.09 million shares, compared to its average volume of 10.87 million shares. The stock has moved within a range of $0.0096 – 0.0115 after opening the trade at $0.0113.
General Update
Georgian corporation Hiru Corp (OTCMKTS:HIRU) on October 26, 2021 announced that the company is engaged in complete production of the recently acquired automated bottling line.
The firm has commenced development of extra bottling line that shall be finished and in the production stage by Thanksgiving. Built to accommodate large purchase orders from Alkaline88, the new facility will serve as a distribution point of finished product storage for the consumers.
The facility is 12,500 square feet and has several new automated bottling line. With the new facility, the total area under production has increased to 109,000 square feet. Kathryn Gavin (HIRU Sole Officer and Director) said that the new line reflects change in business strategy and is being made ahead of time for meeting client needs.
The firm will ensure on not missing out on months of potential revenues as well as enable clients plan better on their growth plans. Furthermore, it will help instill trust and loyalty in larger clients.
The firm’s next required quarterly filing is for quarter three ending September 30, 2021, which will not be due until November 14, 2021. The quarter three financial statements and notes will be provided within five business days and then posted for dissemination on OTC markets website.
Key Quote:
Kathryn Gavin (HIRU Sole Officer and Director) stated… “This new line is a change in business strategy. It is being built ahead of time to meet the needs of our clients upon receipt of future large purchase orders without having to spend time building the necessary lines on an as needed basis as they are received. By doing so, the Company will: (1) not miss out on months of potential top line revenue; (2) allow clients to better plan their respective sales growth plans; and (3) instill trust and loyalty in our larger clients thereby potentially expanding with them as they push to expand their product sales in a growing industry.
