Penny Stocks to Watch: TSPG, HNRC, ORHB, VTECF, LICT
There are certain categories of stocks that enjoy a major following among investors on a daily basis, and penny stocks belong to such a category. There is a considerable following because these stocks can often deliver significant gains. On that note, here is a look at five penny stocks that you could consider adding to your watch lists.
TGI Solar Power Group Inc. (OTC:TSPG) The diversified, environmentally and technologically focused real estate development firm made a key announcement this past Friday. TGI Solar Power Group Inc. announced that its management and the company had been working on a plan to bring higher value to shareholders.
The company revealed that it would soon reveal its plans for becoming a fully reporting company. Additionally, an announcement would also be made pertaining to the opportunity, which could have a significant impact on the company and boost value for shareholders. The Chairman and Chief Executive Officer of the company, Henry Val, spoke about the development as well.
He noted that the direction of the company was in the works and could not be more excited about the opportunities that lay ahead for TGI Solar Power. It ought to be noted that the company’s strategy involves the acquisition of patented and innovative processes, technologies, designs, and methods that command commercial value. The company also targets those assets for acquisition that may have a competitive edge.
Cunningham Natural Resources Corp. (OTC: HNRC) On September 1, 2023, the company made a key new announcement about its portfolio company, HNR Acquisition Corp. (HNRA). Cunningham Natural Resources Corp. announced that HNRA had inked an amended and restated membership interest purchase agreement (A&R MIPA) for the acquisition of the entirety of the equity interest in an oil company and subsidiaries based out of New Mexico. The A&R MIPA had been executed by HNRA to replace the membership purchase agreement that had been executed in December last year.
Some of the aspects of the A&R MIPA included the change in the purchase price to a total amount of $63 million in cash. Additionally, the transaction included two million new shares of voting-only Class B common stock with no economic rights and two million units of HNRA Upstream LLC, a newly formed subsidiary unit. Those two million units could be exchanged for two million shares in the Class A common stock of the company.
HippoFi Inc. (OTC: ORHB) Last Friday, the company announced that, in association with PUR Biologics, its fully owned subsidiary unit, it had been making preparations to reveal the details of the execution of a strategic partnership and acquisition. In the news release from HippoFi Inc. on September 1, the company revealed that the asset that it had acquired was ranked among the top 5 global players in the orthopedic space. HippoFi is known for providing state-of-the-art healthcare innovations and proprietary technologies through its well-appointed sales network.
The company further noted that the collaboration would require the coming together of technology and specialized expertise so as to mold the future of the spinal biologics space. The Executive Chairman and Chief Executive Officer of the company, Christopher Wiggins, noted that everyone at the company looked forward to sharing more details in the formal announcement that would be made next week. He went on to add in his comment that it was a major moment for HippoFi as a company.
Vortex Energy Corp. (OTC: VTECF) On September 1, the company announced that it had extended its association with Financial Star News Inc. yet again. The association of Vortex Energy Corp. with Financial Star News is for marketing services. As per the latest extension provided by the company, Financial Star would provide marketing services for 60 days starting on September 5, 2023.
However, as per the agreement, the duration of the services could be extended or shortened at the discretion of the management of Vortex Energy. That would depend on a number of factors, including the effectiveness of the marketing services rendered. Financial Star would undertake promotional activities that would be visible on FinancialStar.com. Promotions would also be made through Facebook, email, and Google.
LICT Corporation (OTC: LICT) Last Friday, the company announced its unaudited financial results for the quarter that ended on June 30, 2023. In the second fiscal quarter, LICT Corporation generated revenues of $18.4 million, which reflected a jump of 3.7% from the prior year’s revenues of $17.7 million.
The rise in revenue was primarily driven by broadband sales. The EBITDA for the period came in at $7.6 million, which reflected an improvement on the $7.5 million in the corresponding quarter in 2022. The company recorded earnings per share of $294 in the quarter, but that was lower than the earnings per share of $336 in the prior-year period.
