OTC Stocks Watchlist: ODII, PNNX, OWUV, ERKH, SPCO
The OTC Markets can often be a treasure trove of stocks. However, just like with any other stock exchange, it is important for investors to do the hard yards of research before considering any stock. This article is going to take a look at five OTC stocks that may well be worth adding to watch lists.
Odyssey Semiconductor Technologies Inc. (OTC:ODII) The semiconductor device company Odyssey Semiconductor Technologies Inc. is involved in the development of innovative high-voltage power switching components. It develops those components through its proprietary Gallium Nitride processing technology. On August 7, the company announced its financial results for the second fiscal quarter that ended on June 30, 2023.
The company noted that its addressable market is expected to grow at a 40% CAGR, as per research conducted by the French market research firm Yole Group. Additionally, the company also inked two letters of intent with regard to the early access sampling program. Another letter of intent is also in the works and could be signed by next month.
The company also announced yesterday that it was going to host a conference call on the same day at 5 p.m. Eastern Time. The conference call and associated webcast would feature remarks from Mark Davidson, the Chief Executive Officer of Odyssey Semiconductor Technologies.
Pennexx Foods (OTC:PNNX) On Monday, Pennexx Foods announced that it had started the process of beta testing its smartphone savings app, YourSocialOffers.com, on both Apple TestFlight and Android. The app from the company had been accepted for external testing by Apple, and hence, it had become possible for the company to invite people from outside the company to test the app. It was noted yesterday that Pennexx Foods had shared the app with a number of testers, which also included potential buyers for certain zip code areas and partners.
The Chief Executive Officer of the company, Vincent Risavalto, spoke about the development as well. He noted that it was an exciting time for the company as it was so close to the next step of the YSO app on both the Google and Apple stores. He went on to note that the app was particularly useful for improving interactions between merchants and consumers through innovative features. The app deploys GPS technology to tailor the experience so that customers can view deals and offers.
One World Universe Inc. (OTC:OWUV) The publicly traded firm One World Universe Inc. is involved in investments in sports-related businesses as well as distressed entities and also looks for opportunities in emerging spaces. Additionally, the company also provides humanitarian aid in more than 185 nations. On August 7, the company announced that it had completed negotiations with former staff at the firm Thrive Wellness with regard to a new partnership.
The President of One World Universe announced that the partnership with the former staff of Thrive Wellness would provide the company with an understanding of a business model that could be beneficial for the shareholders. It would allow the shareholders to experience the dual impact of a strong history of top-flight medical professionals and a solid financial standing. He went on to add that everyone at the company was intent on building a strong financial foundation for the shareholders.
Eureka Homestead Bancorp Inc. (OTC:ERKH): The holding company of Eureka Homestead, Eureka Homestead Bancorp Inc. is a federal savings association that is headquartered in Metairie, Louisiana. On August 4, it emerged that Eureka Homestead Bancorp and Eureka Investors Group had concluded an agreement by which the former would be acquired by the latter along with Eureka Homestead. Eureka Investor Group had been established as a corporation recently by a number of experienced investors.
It was also noted that the merger agreement had been adopted unanimously by the boards of both companies. The merger agreement also provided for a cash merger consideration of up to $13 million. It was also announced that immediately prior to the closing of the transaction, the company would be allowed to pay a dividend to the shareholders to the tune of $10 million in aggregate. It would be subject to regulatory approval.
The Stephan Co. (OTC:SPCO) On August 6, The Stephan Company announced its unaudited financial results for the second fiscal quarter ended June 30, 2023. The revenues went up by 3.7% year on year, and the gross profit margin also went up to 30.4% from 29.8% a year ago. Additionally, the company also announced a special dividend of 3 cents a share to each shareholder of record as of August 14, 2023.
The dividends would be paid out to shareholders on August 31, 2023. It was also revealed that The Stephan Company had also recommended the purchase of its shares on the open market.
