Penny Stocks Watchlist: XALL, AVRW, TMGLF, BNET, LGCXF

Most investors need to keep track of a large number of stocks before pulling the trigger on one, and the best way to do so is by keeping a watch list. The same principle holds with regard to penny stock investments. Here is a quick look at five penny stocks that you could add to your watch lists now.

Xalles Holdings Inc. (OTC: XALL) The premier financial technology holding company, Xalles Holdings Inc., is a specialist in advanced technology and financial services solutions. On August 15, the company announced its financial results for the second fiscal quarter, which concluded on June 30, 2023. It was the eighth straight quarter in which the company clocked record revenues.

In the second quarter, the company reported revenues of $4,708,947, which worked out to a sequential rise of 21%. The net profit for the quarter came in at $728,249, which worked out to a rise of 12% from the previous quarter. The strong growth recorded by the company was a function of the performance of the assets that the company had acquired in 2023 and 2022.

Other than the strong financial performance in the second quarter, the company also made three strategic acquisitions during the quarter. Appy Perks Inc. was added to the company’s commerce business unit, and Patient Healthcare Solutions Inc. became a part of the Xalles Health business unit as a fully owned subsidiary unit. The company also made a strategic investment in Adaptive Analytics, Inc.

Avenir Wellness Solutions Inc. (OTC: AVRW) Avenir Wellness Solutions Inc. operates a broad platform technology and wellness company, and on August 15, it announced its financial results for the second fiscal quarter that ended on June 30, 2023. The company generated net revenues to the tune of $1 million, and that reflected a slight sequential drop from the first quarter revenues. The drop had been brought about by a delay in receiving the proceeds from an asset sale and delays in its manufacturing facility owing to shortages of raw material supply.

The company noted that sales are expected to rise in the second half of the year. The gross margin for the quarter was 71.4%, which was 152 basis points lower when compared to the same period last year. The net operating losses for the quarter went up by $450000 on a year-over-year basis in the second quarter. However, Avenir Wellness Solutions noted that reductions in costs and operating leverage are both expected to narrow in the second half of 2023, which would lead to a lowering of losses.

Trigg Minerals Ltd. (OTC: TMGLF) On Tuesday, Trigg Minerals Ltd. announced certain changes to its management and board, which were both part of its transition strategy. The company announced that Karen Peterson had resigned from her position as Managing Director and Chief Executive Officer. She would step down from the board with immediate effect but complete a notice period of three months to ensure a seamless transition.

Bill Bent resigned from his position as a non-executive director with immediate effect owing to personal reasons. However, he would stay on as a strategic advisor. The Chairman of the company, Mike Ralston, would take over the management of the company until such time as a new management team is put in place. He had garnered the support of the company secretary, directors, and outside advisors. These moves will also help Trigg Minerals cut down on corporate overheads and look for new opportunities.

Bion Environmental Technologies Inc. (OTC: BNET) Advanced livestock waste treatment technology and premium sustainable beef leader Bion Environmental Technologies Inc. made a key announcement yesterday. The company revealed that it had concluded the initial system start-up at its Fair Oaks demonstration facility. The company noted that it was highly encouraged by the operational results.

The company went on to note that it had already been able to run the system at a steady state for its planned short run times for the production of purified concentrated ammonium bicarbonate base liquid distillate originating from manure digestate. The company went on to announce that it would operate its integrated Ammonia Recovery System (ARS) over the next three to four weeks in the current operational phase.

Lahontan Gold Corp. (OTC: LGCXF) Yesterday, Lahontan Gold Corp. announced that it had entered into an amending agreement with Golden Arrow Mining Corporation and Lahontan Gold (US) Corp. dated August 8, 2023. As per the latest development, the lease with the option to purchase an agreement between the three parties, which was announced on July 19, was amended.

For the purpose of exercising the actual option, Lahontan Gold Corp. would need to make yearly payments to the tune of $1,845,000 over the course of a period of seven years and also take care of expenditures of $1,400,000 in the form of expenses on the property.