Penny Stocks Watchlist: SMGI, BLGO, SINGD, ILHMF, GPOX
Most investors create watch lists in order to keep track of the stocks they wish to follow in a convenient manner. Investors who may be on the lookout for stocks to add to their penny stock watch lists could do well to take a look at this feature. Here is a look at five stocks that you may add to your watch lists today.
SMG Industries Inc. (OTC:SMGI): The growth-focused transportation services company SMG Industries Inc. is a specialist in the full-service logistics market. On August 16, the company announced its financial results for the second fiscal quarter and for the year until June 30, 2023.
The company’s revenues went up by 21% year over year when compared to the corresponding period in 2022. The gross profit also improved and hit $2.9 million, which worked out to 14% of total sales in the second quarter. In the prior-year period, the gross profit was $1.1 million, which worked out to 6% of total sales. The company also recorded a reduction in net loss to $1.8 million for the quarter from a net loss of $3 million in the prior-year period.
The adjusted EBITDA for the quarter stood at $1.6 million, which worked out to 8% of sales. In the prior-year period, the adjusted EBITDA was $0.7 million, which made up 4% of sales. On July 7, 2023, SMG Industries completed the previously announced acquisition of the group of companies under Barnhart Transportation.
BioLargo Inc. (OTC: BLGO) On August 16, it emerged that BioLargo Inc. would be one of the featured companies at a major event that would be held next month. The event in question is the PFAS Symposium which would be hosted by Gabelli Funds on September 28, 2023, at the Harvard Club in New York City. The event is going to be largely focused on a range of things about PFAS uses, remediation, and replacements. Additionally, there would also be presentations from major companies in the areas of waste and disposal services, water remediation, testing, and utilities.
Additionally, those who attend the event will also have the opportunity to meet with the management of the different companies in a one-on-one interaction. PFAS are actually compounds that are used for a large number of supposed benefits in commercial, household, and industrial applications. However, the compounds have also led to environmental concerns owing to their inability to degrade.
SinglePoint Inc. (OTC: SINGD) On Wednesday, the renewable energy, air purification, and energy supply company SinglePoint Inc. announced its financial results for the fiscal quarter that ended on June 30, 2023. The company reported a record-breaking second-quarter revenue figure of $8,149,480, which was considerably higher than the revenue of $4,534,681 in the prior-year period. It reflected a year-on-year rise of 79%. The trailing 12-month revenue was $29,568,686. The Gross Profit was positive as per GAAP and reflected this year-on-year to the tune of 103%.
The net loss recorded by SinglePoint in the second quarter was lower by 59% on a year-over-year basis. Some of the targeted initiatives from the company bore fruit, which helped improve gross margins. Another highlight in the second quarter was that Solar Power World recognized Boston Solar as the Top Solar Contractor for the eighth consecutive year.
International Lithium Corp. (OTC: ILHMF) Yesterday, the company made a significant new announcement with regard to an ongoing drilling initiative at the Raleigh Lake Lithium and rubidium project near Ignace, Ontario. The company announced that the drilling program had managed to intersect fresh spodumene pegmatite occurrences in the Zone 4 region of the project.
The zone in question also includes the historic Johnson pegmatite. It was noted that on August 3, International Lithium Corp. commenced the drilling initiative for testing targets that had been defined by surface geochemical, geological, and geophysical interpretations near Zone 1. The company revealed that up until yesterday, six new drill holes had been completed by the company, and two of the drill holes had been drilled immediately to the North of Zone 1.
GPO Plus Inc. (OTC: GPOX): The company, which is involved in the distribution and manufacturing of consumer products for specialty retailers and convenience stores, made an announcement about a recently launched product.
The product is White Glove DSD (direct-to-store delivery) Service, and GPO Plus Inc. announced yesterday that it had generated a rise of 101% in sequential revenues from one quarter to the next. The company went on to announce that the product had a clear path to breaking even in terms of cash flow. It was also noted that the success enjoyed by the service in the initial rollout also led to operational efficiencies and cost savings for the company.
