Penny Stocks to Watch: TLSS, HMBL, PSYC, RGGI, CBMJ
The market for penny stocks has always been quite vibrant, and for good reason. These stocks can often generate significant returns in a short period of time for a relatively low outlay. However, research is necessary to be better prepared. Here is a quick look at five stocks that investors could consider adding to their penny stock watch lists.
Transportation and Logistics Systems Inc. (OTC:TLSS): The company, which operates through a number of fully owned subsidiary units, offers a suite of logistics and transportation services to its customers. On August 31, Transportation and Logistics Systems Inc. was in the news after it announced that it had launched a new overnight regional service.
The Chief Executive Officer and Chairman of the Company, Sebastian Giordano, spoke about the latest move as well. He noted that although the company has been diligently pursuing new customers, it has also been making evaluations of the offerings of new products and services so as to boost its capabilities as a service provider.
The strategic acquisitions that had been made by the company provided the company with a competitive advantage over its peers, he asserted. Due to the company’s terminal network in key locations like New Jersey and New York, it would provide overnight service across its northeast points of service. The region would include New England as well as New Jersey, the New York metro area, the five boroughs, and Long Island.
HUMBL Inc. (OTC: HMBL) The technology company hit the news cycle on August 31 after it announced that it had gone for a strategic expansion in its relationship with Pacific Lion, its strategic funding partner. HUMBL Inc. noted in its press release that the evolution of the relationship with its strategic funding partner also demonstrated the commitment the latter had towards the company’s growth. In the news release yesterday, it was noted that in order to strengthen the financial position of HUMBL and make sure that there was enough working capital ahead of the company’s Reg A offering, Pacific Lion raised its funding commitment.
An amendment had been made to the existing note with HUMBL, by way of which the possible amount of funding to the company would go up to $2,000,000 from $800,000. The warrant transaction with Pacific Lion would also be terminated in 18 months, which was another indication of the confidence it had in the prospects of HUMBL as a company.
PSYC Corporation (OTC: PSYC) The company, which is the parent company of Spotlight Media Corporation and is evolving as a leading authority in the media for new industries like psychedelics, made a key announcement yesterday. PSYC Corporation announced yesterday that it completed the acquisition of the Stock Day Media platform through its fully owned subsidiary unit, Spotlight Media, from La Jolla Media LLC. The deal, which had been valued at $500,000, would go into effect on September 1, 2023.
The transaction would be completed by the company through both cash and stock, which would be distributed across the next 12 months. However, the payments and ultimate value of the deal would be dependent on some of the specific net revenue targets that had already been agreed upon between Stock Day Media and the company. The news came soon after an announcement had been made about the strategic partnership between PSYC Corporation and Target Media on August 29. That transaction provided the company with the initial funds that had been necessary to complete the latest transaction.
ResGreen Group International Inc. (OTC: RGGI) The mobile robot and software solutions leader made a key announcement yesterday. ResGreen Group International Inc. revealed that it had taken a major step towards the optimization of manufacturing and warehousing operations through the integration of the object detection algorithm YOLO (You Only Look Once).
The algorithm can help in detecting vacant or low-stock areas in facilities, making operational processes far more efficient. The Chief Executive Officer of the company, Parsh Patel, noted that the integration of YOLO was an indication of the company’s ever-growing commitment to deploying the power of artificial intelligence in its offerings. He went on to note that Yolo also offered scope for constant improvement in operations.
CBMJ Inc. (OTC: CBMJ) The media company caused a fair degree of buzz on Thursday after it announced that it had reached an agreement to acquire American Media Periscope. CBMJ Inc. announced that it had made the acquisition for $2.25 million. In the press release, the company also noted that the combination of the two ‘new media’ firms would also solidify the Patriot Media space.
The acquisition would generate revenues to the tune of $3,000,000 in the 2023 fiscal year. As per the terms of the agreement, CBMJ would issue a $2 million non-interest-bearing note that could be paid over five years and 2.5 million shares of restricted common stock.
