Penny Stock News: AXTG, ELLH, SLDC, EXMT, GEMZ

One of the more effective ways to be successful in the capital markets over the long term is to be abreast of the latest news. The same holds for success in penny stock investing. Here is a quick look at five penny stocks that have been in the news in recent times.

Axis Technologies Group Inc. (OTC:AXTG) On Tuesday, Axis Technologies Group Inc. issued a letter to its shareholders from William Tien, its Chief Executive Officer. In the letter, the CEO of the company laid out the company’s investments in its pursuit of advancing blockchain technologies in the realm of digital assets.

The company wanted to realize its vision through investments, leveraging of its investment portfolio, and strategic acquisitions. Since the last update in September 2021 from the CEO, there have been a number of key developments. A new management team had been put in place, and Axis Technologies Group also completed the acquisitions of T8 Exchange and TiENCHAT.

Both of those acquisitions were then merged into TiENWORLD Inc., a fully owned subsidiary of the company. Following the change in protocol, all Ethereum mining operations ceased. Instead, the computers had been deployed for the testing of new Nvidia GPU cards for the trial of the company’s own artificial intelligence-powered nodes in the development of the new Carboni blockchain. He went on to note that the company had always been positioned at the forefront of an ever-evolving industry.

Elah Holdings Inc. (OTC: ELLH) On August 15, Elah Holdings Inc. announced its interim unaudited financial results and disclosure report for the second fiscal quarter of 2023. It is a holding company that is managed by experienced business professionals and is interested in acquiring profitable businesses.

The company announced that the number of outstanding shares of its common stock was 739096 as of August 11, 2023. Additionally, the Chief Executive Officer of the company, Kyle Ross, also addressed the shareholders yesterday in a letter. He sought to provide the investors with an insight into the company’s mergers and acquisitions strategy, the deal-making efforts, and some of the new strategies that are being put in place for future growth.

He noted that Elah Holdings had entered into a deal for a Continuation Fund transaction with a private equity entity that would turn the firm into a publicly traded concern. The idea was welcomed by the private equity firm since a publicly traded entity like Elah had considerable tax assets as well.

Solidus Communications Inc. (OTC: SLDC) Yesterday, Solidus Communications Inc. was one of the companies to come under sharp focus following a key announcement. The company announced yesterday that it had concluded due diligence with regard to a Memorandum of Understanding with a wireless internet service provider based out of Central Florida.

The company revealed that it had come to a full agreement with the owners of the Central Florida-based wireless internet service provider (WISP). The company had made an offer on the approximate value of WISP on an annual revenue per dollar basis. The offer was accepted.

The company would create a new subsidiary that would house the assets that would be transferred from the WISP. The WISP boasted yearly revenues of $1.2 million and had a customer base of more than 1,000. Additionally, it had assets worth around $1 million, which include vehicles, communication towers, plants, and other assets.

Anything Technologies Media Inc. (OTC: EXMT) On August 15, Anything Technologies Media Inc. announced that it had launched its new website and also noted that it also included four more Amethyst products with EDI-compliant capabilities. The fact that the products were EDI-compliant would be an important factor for retailers since it would allow easier ordering and shipping of the products. It would also allow retailers to integrate the product with far greater ease.

Additionally, the EDI system would also allow the company to send significant amounts of data to its trading partners without the need for manual communication systems. Additionally, it was noted that Amethyst was working on further growing the supply chain partner count and making communication processes far more efficient in accordance with the new system.

GEMXX Corporation (OTC: GEMZ) Yesterday, GEMXX Corporation announced that it had been successful in conducting the first recording and clean-out of gold production at the site of the Snow Creek Mine for the mining season of 2023.

The work had been accomplished by the company in collaboration with Crazy Horse Mining, Inc. In a partnership with GEMXX Corporation, Crazy Horse bought a 4500-cubic-yard sample of gold-bearing surface and built the processing site concurrently. That helped provide a positive indication of the resource potential of the site. The company noted that the initial production results had surpassed expectations.