Penny Stocks to Watch: RWMI, MDMP, PLQC, FEMFF, RSHN

The best way to find sustained success in any niche of the stock market is to draw up a watch list of stocks. The same holds true when an investor is looking to invest in penny stocks. This feature would provide you with a look into five stocks that could be added to the penny stock watch list at this point.

RegalWorks Media Inc. (OTC:RWMI) The holding company, which operates in the health and wellness space, announced yesterday that it had inked a binding letter of intent pertaining to the acquisition of Technologies Solutions Group LLC. RegalWorks Media Inc. announced that it would complete the acquisition of the Columbia, Maryland-based company through the issuance of 30 million units of its restricted common stock. In exchange, the company would assume 100% ownership of Technologies Solutions Group.

The owner and managing partner of Technologies Solutions Thomas P. Jackson would be the Chief Operating Officer of Pure Rudi, RegalWorks Media, as well as Technology Solutions, following the acquisition. The move had been aimed at ensuring that the integration of both operations was smooth. Jackson would report directly to the chief executive officer of the company, Randy Packett.

In the news release from the company, it was noted that Technology Solutions generated annual revenues to the tune of around $2.5 million. Packett noted that the medical technology products from Technology Solutions made it a ‘natural fit’ for the cultivation and manufacturing of its Pure Rudi product.

MDM Permian Inc. (OTC: MDMP): The oil and gas company, which is based out of Dallas, Texas, made an announcement about the positive findings in the engineering and geological report of one of its East Texas-based leases. MDM Permian Inc. had acquired the lease recently. The reports had been verified by a petroleum engineer, and there was significant evidence of considerable oil and gas formation at the Pettit formation.

The company revealed that, as per the data and geological assessments in nearby areas, it estimated the recoverable oil volume to be as much as 730,000 barrels. A field located nearby and made up of 26 wells had already displayed strong production numbers. That field managed to yield as much as 7.5 billion cubic feet of natural gas to go along with 1,325,280 barrels of oil. The figures demonstrate the potential of the region in terms of oil and gas production.

Plains Acquisition Corp. (OTC: PLQC) The company was in the news on Tuesday after it made an announcement with regards to one of its business divisions. It emerged yesterday that Plans State Bank, a part of Plains Acquisition Corp., had been added to the Financial Institutions Division (NID) of Raymond James. The announcement was made by Tim Killgoar, a senior vice president at Raymond James and also the national director of the NID. The FID at Raymond James operates as Core+ Financial Strategies.

The wealth advisory team of the division is made up of four associates and three financial advisors. The operations of the division are spread across Cypress and Houston. The team manages around $317 billion in assets and had previously been an affiliate of Avantax Investment Services. The Chief Operating Officer and President of Plains State Bank, Lori Hilman, spoke about the development. Hilman stated that Plains State Bank entered into this deal due to the considerable experience of Raymond James in the baking industry.

FE Battery Metals Corp. (OTC: FEMFF) On September 5, the company provided an update about the positive results from the drill hole LC23-67. It represented a major development for FE Battery Metals Corp. as it continued to make efforts for its inaugural resource estimate of the Augustus Lithium Property. The company revealed that the drill hole had managed to penetrate a lithium mineralization zone with a width of as much as 23 meters.

Additionally, the zone also recorded a lithium grade of 1.23% lithium oxide grade at a drilled depth of 161.5 meters. FE Battery Metals also revealed that quality control and quality assurance steps had also been taken during the exploration work. The company’s geological consultant, Afzaal Pirzada, endorsed and reviewed the technical and scientific data that had been presented.

RushNet Inc. (OTC: RSHN) Yesterday, the company announced that HeliosDX, a small independent laboratory operator, had been beset with a hugely difficult group of challenges in the past 16 months. Hence, RushNet Inc. had to close down the business altogether.

The company noted in its news release that during the period there had been insurance-related pressures, healthcare market fluctuations, and regulatory issues. The confluence of all the factors resulted in the closure of Helios DX. The company also revealed that the period also demonstrated the fact that income peaks could not be ignored and revenue streams had to be diversified.