Penny Stocks News Recap: OSCI, ORHB, IDGC, FUNN, ETST

Investors who are interested in the penny stock space need to do their research diligently if they are to discover the right stocks to follow. In recent days, there have been some penny stocks that have been in the news, and it could be a good idea to look a bit more closely into some of those. Here is a look at five penny stocks that have been in the news.

Osceola Gold Inc. (OTC:OSCI) On August 8, Osceola Gold Inc. announced that it had become completely operational and was scheduled to start full-scale production and mining work towards the end of this month. In the past year, the company has gone through several hurdles, which include the desertion of a major funding partner and supply chain issues. Due to those challenges, Osceola Gold decided to make a strategic shift.

However, the company could not disclose some of the specific details due to privacy-related issues. The management noted this week that despite the hurdles faced by the company, its team had worked tirelessly to rise above the challenges. The company went into strategic alliances and partnerships, which helped it move forward and get the necessary qualified private financing. Osceola Gold also noted that the necessary equipment for its mining activities had also been arriving daily, helping it make the necessary progress.

The company also announced that Tom More, who had been a valuable member of Osceola Gold, had resigned on good terms. It went on to add that it was actively looking for an adequate replacement.

HippoFi Inc. (OTC:ORHB) The healthcare holding technology company HippoFi Inc. is an authority on spinal biologics. On August 9, the company announced that it had executed an exclusive deal with BRB Medica, a biomedical manufacturing company based in Italy. The company also announced that its unit, PUR Biologics, was making preparations for the launch of PURmarrow360 throughout the United States.

The product would provide a simple and safe surgical device that would selectively capture the bone marrow aspirate (BMA) and mesenchymal stem cells (MSCs) from the patient’s own bone marrow. The head of PUR Biologics, Ryan Fernan, spoke about the matter as well. He noted that the PURmarrow360 system was a major leap in the field of capturing MSCs and also eliminated the necessity for centrifugation. He went on to add that the product also led to much higher patient safety.

IDGlobal Corp. (OTC:IDGC) On Wednesday, IDGlobal Corp. announced the beta test results of QHP and Energypro for its new clients, with an average of 13% energy savings and a median facility size of 49000 square feet. The segment is a revenue-producing one for the company, and hence, that prompted an expansion of the QHP team for the purpose of setting up its own call center. The call center would help speed up the performance of the company’s Energypro joint ventures.

The company announced that its subsidiary, UTXO Technologies Inc., is still working on completing acquisitions in the Information Technology and Renewable Energy spaces. The Chief Executive Officer of IDGlobal, Sebastian C. DuFort, noted that the company’s value stream model had been expanded so that organizations could more precisely identify opportunities across its production and procurement processes. Such a strategy would also help generate meaningful savings in a shorter period of time.

Amfil Technologies Inc. (OTC:FUNN) On August 9, Snakes & Lattes Inc. was in the news after it updated its shareholders that it had been successful in completing a large debt reduction transaction. That also led to the removal of certain liabilities from the balance sheet. The reductions in debt and liabilities would be reflected in the company’s financial statement for the 2023 financial year, which would be released on September 28, 2023.

The company revealed that $2307050.80 had been removed from the liabilities section of the balance sheet, and the management team asserted that the debt had been extinguished on highly favorable terms. Hence, such a move was not only beneficial to Snakes & Lattes but, by extension, to the shareholders as well. It was also noted that communication from the company would also be enhanced in the future.

Earth Science Tech Inc. (OTC:ETST) The health and wellness holding company Earth Science Tech Inc. announced the launch of DocProtocol.com on August 9. DocProtocol was created by the company in May of this year and is operated by its subsidiary unit, Peaks Curative. It is involved in providing patient-specific protocols to both wellness centers and doctors.

Highly accomplished functional medicine professionals work on the development of the protocols. The company noted that the asset would help bring in sales for Peak Curative and RxCompoundStore, two of its subsidiary companies.