Penny Stocks In News: CFCI, VTXB, VSOLF, REPO, AKRRF

Investors need to be aware of the latest news with regards to the stock market if they are to make informed decisions and the same applies for penny stock investments too. In recent days, there have been plenty of penny stocks that have come into focus for one reason or another. Here is a quick look at five of those.

CIPHER CORE Inc (OTC: CFCI) – The era of Central Bank Digital Currencies or CBDCs is upon us and a company that could play a role in it is CIPHER CORE Inc.

Yesterday, it emerged that the company’s Chief Executive Officer Takatoshi Nakamura and Chief Operating Officer MotoyukiOdachi visited the capital of Dhaka, Bangladesh between June 12 and June 17. During the visit, the two executives met with officials from the Bank of Bangladesh to discuss the potential use of CIPHER CORE’s globally patented ‘complete cipher’ technology for the development of CBDCs.

As per a June 18 report from Daily Business Eye, a leading daily in Bangladesh, a two-member delegation from Cipher-Core Co Ltd, a fully owned subsidiary of CIPHER CORE Inc, visited the country as well. During the visit, the delegation met with representatives from the Ministry of Finance and Bangladesh Bank among others. The discussions were mainly focussed on ‘complete cipher’ and the technology it offered.

The technology does not use the more popular ledger systems but instead, the technology uses a ‘complete cipher’ that protects the systems from quantum computer attacks as well. The delegation made an offer to the Bangladesh Bank to introduce CBDC using its technology. Further discussions are expected to take place during another Dhaka visit from July 28 to August 1.

Vortex Brands Inc (OTC: VTXB) – On Wednesday the company had come into sharp focus after it announced that it had been successful in integrating the advanced Bitcoin mining machines into its operations. The integration of these machines was a major new development for Vortex Brands Inc since it boosted its hash power by as much as 35% and thereby strengthened its place as one of the leaders of the fast growing Bitcoin mining industry. The company is strategically focused on expansion and hence, it is intent on investing in advanced technology for the enhancement of its mining operations.

The boost in its hash power would help Vortex Brands to meet the rising demand for cryptocurrencies and eventually lead to the delivery of higher returns for its shareholders. The Chief Executive Officer of the company Todd Higley spoke about the developments as well. He noted that the investment from Vortex Brands was an indication of the company’s focus on delivering value to the shareholders. In recent times, the company has become synonymous with delivering strong value to its shareholders by way of its mining activities, which generate strong revenues. The company is also known for consistent dividend payouts.

Three Sixty Solar Ltd (OTC: VSOLF) – The company is an emerging venture which is focused on supplying innovative solar equipment to the worldwide marketplace. On Wednesday Three Sixty Solar Ltd was in focus after it announced that it had appointed a new member to its board of directors in the form of Mr Mark Mukhija. The appointment went into effect immediately. Brian Roth, the Chief Executive Officer of the company spoke about the appointment as well.

He noted that Mukhija boasts of considerable industry experience which would provide a much broader perspective to the management as it works on growing the company. He went on to add that the solar industry was a high-growth space and the presence of a strong board is directly proportional to the sort of value a company can create.

Mukhija’s experience in the industrial sector spans more than 15 years. He worked at some of the multinational mining companies like TransAlta, Barrick, BHP Billiton, and Teck Resources among others. In June this year, he took up the position of Head of Sales for North America at Plotlogic. Plotlogic is a mining technology company that deploys artificial intelligence and hyperspectral imaging for boosting mineral production sustainably.

National Asset Recovery Corp (OTC: REPO) – Yesterday it emerged that GreatEat LLC had concluded its merger with National Asset Recovery Corp (OTC: REPO). The transaction would provide GreatEat, a privately owned food delivery and video conferencing services company with the opportunity to get into the public market.

The resultant entity would be known as National Asset Recovery Corp, a Nevada corporation. Once the transaction is approved the company would be listed on the OTC Markets under the ticker symbol REPO. However, it was also noted that eventually the name and ticker symbol of the company would both be changed so as to be more in line with its new aims and objectives.

In the near term, National Asset Recovery Corp seeks to work on its engineering capabilities and cornering market share in the online food delivery market. The food delivery market is valued at $220 billion worldwide and is estimated to grow at 10% CAGR as per research from Grandview Research Inc. GreatEat offers video conferencing and provides food vouchers to the participants during such meetings.

The aim is to provide the hosts of the meeting with the option to offer refreshments to the participants. Vishal Patel, the Chief Executive Officer of National Asset Recovery Corp noted that he believed that the merger would bring considerable value to the shareholders.

Philly Shipyard Inc (OTC: AKRRF) – The company was in prime focus yesterday after it announced that it had won the contract for the AH(X) Hospital Ship Feasibility Study for Gibbs and Cox. Gibbs and Cox is a unit of Leidos Inc. The design study, which is expected to last six months, would provide a solution for preliminary designs to replace two current hospital ships, the USNS Comfort and USNS Mercy.

Philly Shipyard Inc also announced that it would subcontract the engineering and technical services aspects of the contract to Vard Marine Inc. The President and Chief Executive Officer of the company SteinarNerbovik noted that the contract was a further indication of Philly Shipyard’s commitment to securing work in the government contract space.