Penny Stock Columns on the OTCBB

Innova Robotics

04-17-2008

by Dennis Fitter

The creativeness and ingenuity coming out of Florida’s bank of small businesses continue to impress. Innova Robotics and Automation (OTCBB:INRA) is one more example of progressive Florida based companies to twig my curiosity. In a period of economic downturn and negativity in the market, OTC micro caps are a great source of pleasant surprise. Of course it takes more than just good ideas to prosper. There must be solid management, sound fiscal policy, and the product must actually have utility in a market with clear potential.

With their CoroWare mobile application integrator, the Fort Meyers based Innova has caught the attention of robotics systems builders. Robotic development platforms that address how to more quickly start robotic design projects by providing a mechanism for developing software components the designers developed on one robot project and reusing them in another project are a sought-after commodity. Innova’s CoroWare delivers.

On the fiscal side, management has put considerable attention toward solidification of financial results. As always is the case with hi-tech research and solutions, considerable investment is ploughed into development, often at the expense of revenue generation. Their recently filed 10k shows strong growth and operational improvement. For the year ended December 31, 2007, revenues grew 270% to $3,866,869 while gross profit increase 242% to $778,653. Aggressive actions to bring admin and operating expenses in line with revenues helped decrease total net losses by 59%, improving cash flow and demonstrating improved operational efficiencies. Still, that figure does stand at $2.3 million, an amount in need of continued vigilance.

The writer does not own shares in the above stocks.

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