Penny Stocks Momentum List: ENZC, AITX, GRST, GEGI, DSGT

One of the things that almost all serious investors routinely do is that they set up a watch list of stocks they wish to track. Such a strategy can work well with regard to penny stocks too given the number of penny stocks that come into action every day. Here is a look into five penny stocks that you could consider tracking this week.

Enzolytics Inc (OTC:ENZC) – Not too long ago the company had gone into a non-binding letter of intent with Sagaliam Acquisition Corp. On Monday, Enzolytics Inc was in the news after it announced that it had filed a Supplement Information report for furnishing further details with regards to the letter of intent.

The letter of intent had been with regard to the sale of Enzolytics’ two subsidiary units Virogenetics Inc and Biogenysis Inc in a combined transaction worth as much as $450 million. The Chief Executive Officer of Sagaliam Barry Kostiner spoke about the situation as well.

He noted that the team at Sagaliam was working closely with the team at Enzolytics in order to structure the transaction for the benefit of Enzolytics shareholders. The deal would be structured in such a way so that Enzolytics shareholders could also benefit from the benefits of the eventual NASDAQ listing. Given the volatility in the capital markets, such a strategy would help in protecting their interests.

Additionally, Kostiner said that Sagaliam was entirely committed to collaborating for the purpose of providing continued liquidity and capital so that the development of Enzolytics’ technology could be funded adequately. The technology already demonstrated tremendous results, he added.

Artificial Intelligence Technology Solutions Inc (OTC:AITX) – The company is a worldwide leader in the field of artificial intelligence-powered productivity and security solutions. It mainly operates through its fully owned subsidiary unit Robotic Assistance Devices Inc. On July 14 the company come into focus after it showcased a significant evolution in the fields of artificial intelligence technology and robotics.

The Chief Executive Officer of Artificial Intelligence Technology Solutions Inc Steve Reinharz made an announcement with regards to an entirely autonomous quadrupled robot that could demonstrate operational functionalities that may be path-breaking for the property technology and security industries. 

The company noted at the time that the development was going to launch an era of new technological advancements and also indicated the company’s considerable capabilities. The CEO demonstrated how the robot could not only speak and listen but also respond adequately to verbal commands.

A video had also been made available by Artificial Intelligence Technology Solutions Inc on Its YouTube channel AITX. The demonstration took place on the occasion of ‘Police Day’ at the manufacturing facility of the company known as the REX located in Ferndale, Michigan. The robots would also have the capability of approaching and detecting humans.

Ethema Health Corporation (OTC:GRST) – On Monday the company came into considerable focus among investors following a key announcement and its stock soared by 20% for the day. Ethema Health Corporation announced the outcome of the worldwide restructuring efforts that it had embarked on with its senior lender as well as the property acquisition in West Palm Beach.

The company noted that it had a binding sale and purchase agreement for selling and leasing back the West Palm Beach property for $8,500,000 contemporaneously with its purchase for $5,500,000. It was further noted that the company would get into a 20-year lease for the property concurrently.

Due to the leaseback transaction for the West Palm Beach property, it would be possible for Ethema Health Corporation to clear all the debt with a senior lender. The debt would be paid off once the property transaction is completed.

The lender had provided the company with the time to complete the transaction. Last but not the least, Ethema Health Corporation also agreed to sell its subsidiary which owns the Canadian property to the senior lender for the preferred shares held by the lender. Following these steps, the company anticipates that its balance would be strengthened.

Genesis Electronics Group Inc (OTC:GEGI) – The company I best known for having come up with the patent pending autonomous road to rail shipping technology. Yesterday, the Genesis Electronics Group Inc stock soared by 47% for the day after the company announced that it had inked a binding exclusive manufacturing partnership agreement with the firm Bart Manufacturing Inc for the purpose of building Glid units.

The companies jointly confirmed that they would collaborate on the development of the all-electric Glid units and the production is expected to being at the end of the summer once the final joint design for the same is completed. Kevin Damoa, the Chief Executive Officer of Genesis Electronics Group and Glid spoke about the development.

He noted that since the beginning of the partnership, the two companies had found alignment with regard to their visions on the necessity to create a high-quality product that would provide support to short rail operators, which are seen to be the safer and de-carbonized solution in the United States. There would also be a Beta program and the findings from the same would be incorporated into the commercialization program lifecycle through to 2029.

DSG Global Inc (OTC:DSGT) – The fully owned subsidiary unit of the company Vantage Tag Systems was in focus on July 11 after it announced that two signature 36-hole golf facilities had chosen its product Vantage Infinity as their GPS Fleet Management System. After having completed the due diligence, the two golf courses which selected the product were Odessa Country Club in Texas, United States, and Mijas Gold Club in Spain.

It should be noted that Vantage Tag Systems has been working on the fleet management issues of operators for more than a decade thanks to the sophisticated GPS-based hardware and software, which are not only affordable but rich in features. Vantage Infinity provides the operator with the option of not only an orientable apparatus but also one that could be used in landscape mode depending on preferences.