OTC Stocks To Watch: GTII, WPFH, PRPI, GCEI, TTNN
Every day, thousands upon thousands of investors flock to the OTC Markets to discover the latest stocks to follow, and more often than not, there are many stocks that may be worth looking into. This feature would provide you with a closer look at five companies that could well be worth tracking at this point in time.
Global Tech Industries Group Inc. (OTC:GTII) The company was in the news on Monday after it announced that it had inked a Membership Interest Purchase Agreement (MIPA) with the firm AI Commerce Holdings LLC. By way of the MIPA, Global Tech Industries Group Inc. would be able to complete the acquisition of all the membership interests, which would include the operations and assets of MIPA, from the members of AI Commerce Holdings. AI Commerce is a privately held Puerto Rico company involved in the acquisition and operations of e-commerce brands and websites.
The aim of AI Commerce Holdings is to make those websites and brands more efficient. Following the latest agreement, it would become a part of the Global Tech Industries Group. AI Commerce Holdings had been established with the sole purpose of exploiting the inefficiencies in the e-commerce space through the deployment of artificial intelligence technologies.
The company boasts a team that consists of experts from the worlds of e-commerce, digital marketing, banking, sourcing, and procurement. The Chief Executive Officer and Chairman of Global Tech Industries, David Reichman, noted that it was an important day for the company and its shareholders.
WPF Holdings Inc. (OTC: WPFH) On Monday, the company announced that it had completed the execution of a number of letters of intent and had started the preparations for the acquisition agreements for several companies. These acquisitions would help WPF Holdings Inc.’s subsidiary unit, Vezbi Inc., work on the fast deployment of its Super App system and technology.
The system and the technologies are supposed to be deployed in the healthcare sector. In the news release from the company yesterday, WPF Holdings also noted that it expected to sign definitive acquisition agreements by the end of next month and that the acquisitions would be closed by the end of the third quarter of 2023. The companies that have been targeted for acquisition have a combined transaction size of $250 million, and the reported revenues of those companies in 2022 were $50 million.
Due to the confidentiality agreements, it was not possible for WPF Holdings to disclose the names of the companies until each acquisition was closed. Under the Vezbi Super App, the company decided to make a big move into the healthcare sector first.
Perpetual Industries Inc. (OTC: PRPI): On August 16, the company was in the news after it announced that Martin Stutzman had departed from his position as the company’s director. At the time, Perpetual Industries Inc. also revealed that the departure had gone into effect immediately. The company noted that the involvement of Stutzman in the position of director was not in alignment with its own aims and objectives as a business entity.
However, Perpetual Industries did acknowledge the contributions made by Stutzman and went on to wish him well for the future. The Auburn, Indiana-based company added that it would continue to work on its strategic initiatives under the leadership of its Advisory Board and Board of Directors.
Global Clean Energy Inc. (OTC: GCEI)—the green technology project development company—is involved in such projects that would deliver clean energy in a range of forms without a negative footprint or carbon emissions. On Monday, Global Clean Energy Inc. announced that it had completed the initial testing for the removal and reduction of sulfur from oil with Provectus Engineered Materials Ltd.
Provectus is known for using low-frequency sonification technology to come up with unique platforms for process engineering. Global Clean Energy noted that it had entered into a joint venture agreement with Provectus Engineered by taking up the patents and rights to its sonification technology. The technology would be used in the joint venture to reduce sulfur from oil.
Titan NRG Inc. (OTC: TTNN), the transportation and downstream energy leader that operates through a range of subsidiaries, was in focus on Monday after it announced its financial results for the first fiscal quarter. Titan NRG Inc. recorded revenues of $1,987,024 for the quarter, which reflected an improvement on the $1,808,254 in the prior-year period. The net comprehensive income for the quarter came in at $218,518, which was a major improvement from net losses of $13,517 in the year-ago period.
The company also built greater financial strength and ended the quarter with a cash balance of $1,080,225. It ended the prior-year period with a cash balance of $505,761. Investors could take a look at the quarterly report on the OTC Markets website.
