Penny Stocks to Watch: BICX, ARRNF, HLYK, IDTA, STHFF

There is considerable interest in penny stocks from investors, and it is easy to see why. These stocks trade below $5 a share and, hence, can often help investors generate massive returns. Here is a quick look at some of the penny stocks that could be worth tracking.

BioCorRx Inc. (OTC:BICX) On August 15, the company announced that it had made a key submission to the United States Food and Drug Administration. The submission was with regards to an expanded access program for its implantable naltrexone pellet, BICX104, for treating opioid use disorder in patients who meet the eligibility criteria for the program.

The President of BioCorRx and the Chief Executive Officer of BioCorRx Pharmaceuticals Inc., Brady Granier, spoke about the situation as well. He stated that the company decided to make the submission for expanded treatment so that it could bring the benefits of its effective, safe, and possibly lifesaving implants to those patients suffering from OUD.

He went on to note that if the submission made by the company was approved, then the company would be able to implement its program and distribute its product through healthcare providers to patients suffering from OUD. He added that, as per the policies of the FDA, the company would be apprised of the outcome of its submission in 30 days. Concurrently, the company continued to work on meeting the requirements so as to file a New Drug Application for total FDA marketing approval.

American Rare Earths Ltd. (OTC: ARRNF): Yesterday the company announced that it had launched its sponsored Level 1 American Depository Receipts (ADRs) Program. It also commenced trading on the OTCQX Market on August 15, 2023, under the ticker symbol AMRRY. ADRs are tools that allow non-United States companies to get access to the investment community in America. Trading on the OTCQX is also expected to provide the ADRs with the necessary trading liquidity and visibility.

The company announced yesterday that it had received approval to set up the ADR program from the United States Securities and Exchange Commission and also met all the relevant requirements of the OTCQX. The listing that had been made yesterday would be complementary to the listing of American Rare Earths on the Australian Securities Exchange.

The Chief Executive Officer of the company, Donald S. Swartz II, noted that everyone at the company was highly excited about the ADR initiative since it would create a major appeal for institutions based in the United States.

HealthLynked Corp. (OTC: HLYK) operates one of the leading online networks that connects patients, doctors, and medical data. The platform provided by the company is an integrated one, which provides the opportunity for collaboration and the exchange of data in real time. Yesterday, the company announced its financial results for the second fiscal quarter and the half year, both of which ended on June 30, 2023.

In the second quarter, the company’s revenues hit $1.7 million, which reflected a year-on-year rise of 9%. The revenues had gone up thanks to a 13% year-on-year rise in functional medicine offerings, which were also complemented by contributions from Aesthetics Treatment Centers, an acquisition made in 2022. The company was successful in lowering the net losses on a year-over-year basis by 37%, as they went down to $1 million from $1.59 million in the year-ago period.

IDenta Corp. (OTC: IDTA) is a global leader in the Field Detection and Home Diagnostic Testing kit development space for unique forensic products, narcotics, and explosives. The company mainly works in the Consumer and Homeland Security markets.

Yesterday, the company announced its financial results for the second fiscal quarter of 2023 and also revealed that it had bagged a GSA contract from the United States government that would help it further advance its business with government-related customers.

Revenues in the second quarter dropped from $378,982 in the prior-year quarter to $188,494 in the second fiscal quarter of 2023. The gross profit for the quarter was $124,934, as opposed to a gross profit of $261,115 in the prior-year period. The net profit, however, went up to $76,334 in the second quarter from only $7488 in the prior-year period.

Stelmine Canada Ltd. (OTC: STHFF) On August 15, the company announced that it had appointed a new vice president of exploration in the form of Friedrich Speidel. Speidel would be responsible for leading the company’s efforts with the technical team so as to plan, prioritize, and put into motion the exploration programs of Stelmine Canada.

He would join the existing team at the company, which already houses six seasonal geologists in training and two permanent geologists. The company noted that, due to the work put in by the existing team, it had been possible for the company to gain credibility and scope over the course of the previous three years.