The world of penny stocks may sometimes require a thorough understanding of a number of companies before an investor can make a move. In recent times, a large number of penny stocks have come into focus for one reason or another. Here is a quick look at 5 penny stock, which may be worth tracking now.
Sibannac Inc. (OTC:SNNC): On August 22, the company announced that it had appointed a new Chief Executive Officer of its subsidiary unit, Immersive Brand Concepts, in the form of Karl Gottschalk. The Oklahoma-based subsidiary unit is an advanced wellness company that specializes in the distribution and design of a range of all-natural products.
It boasts a significant and still expanding line of products, which includes products like Kratom Energy, Immunity, Organic Health, and Hangover Prevention. The company's new CEO had held a number of executive positions prior to this appointment, and during all those tenures, he demonstrated his leadership qualities. He had also been responsible for delivering impressive results. He had been the National Director at Jeeter/Dreamfields, and his decision to introduce automation had resulted in a considerable reduction in labor costs.
Sibannac is a specialist in the creation and sale of premium advanced wellness products. It is involved in the consumer packaging goods industry. While the company does produce regular supplements, it is also known for producing hemp-derived and Kratom Delta 8/9 products.
The company offers Kratom as well as Amanita mushroom edibles for distribution and sales in the wholesale market. It takes care of the production project right from conception through the distribution phase. Additionally, the company also provides contract manufacturing and white labeling services to other firms.
Tivic Health System Inc. (OTC:TIVC) is involved in the health technology space, which is involved in the commercialization and development of bioelectronic medicine. The company's own patented platform deploys the simulation on the vagus, sympathetic, and trigeminal nerve structures.
On August 16, the company announced that the research study that it had financed at the Feinstein Institutes for Medical Research had been awarded approval from the Institutional Review Board (IRB). Additionally, Tivic Health noted that concurrently, it had begun enrollment and recruitment for its unique non-invasive bioelectronics device aimed at stimulation of the vagus nerve.
The IRB is registered with the United States Food and Drug Administration and is involved with reviewing and monitoring research that involves human subjects. The Feinstein Institute commenced the recruitment in partnership with Tivic Health and also concluded the first patient enrollment of subjects related to the study.
Enzolytics Inc. (OTC:ENZC): The drug development company Enzolytics Inc. is focused on the commercialization of its proprietary monoclonal antibodies and proprietary proteins, which are meant for treating impairing infectious conditions. At this point, Enzolytics Inc. is working on advancing a range of therapeutics that target a number of infectious diseases.
The company's fully owned subsidiary unit, Virogenetics Inc., announced on August 8 that it had been awarded the permit for delivering the treatments, which would be administered to volunteer HIV/AIDS patients. The treatments were to be administered to volunteers at Panzi Hospital, Bukavu, DRC, PRC, GOMA, and HEAL Africa Hospitals.
It was noted at the time that the results from the pilot clinical trial in Africa would be used for the development of the clinical trials under the authority of the European Medical Authority. Those trials would begin at some point in late 2023 or early 2023.
Elite Pharmaceuticals Inc. (OTC: ELTP): The specialty pharmaceutical company Elite Pharmaceuticals Inc. is involved in the manufacturing, distribution, and development of niche generic offerings. The product lines offered by the company are made up of both controlled and limited releases. The solid oral dose products are marketed under the Elite Laboratories label and also under third-party pharmaceutical marketing licenses, which are granted by distribution and marketing entities.
On August 14, the company announced its financial results for the first fiscal quarter of 2024, which ended on June 30, 2023. The company generated revenues of $9 million for the period, which worked out to a year-on-year rise of 16.9%. The operating profits stood at $1.6 million, which worked out to a year-on-year boost of 60%. Net income attributable to shareholders went up by 267% year over year to hit $1.1 million. The operating profits had gone up for Elite Pharmaceuticals, mainly due to higher manufacturing revenues.
Clean Vision Corporation (OTC: CLNV) is in control of a number of synergistic companies that are focused on sustainable green energy and clean technology. The company is an emerging major player in those sectors. On July 31, the company announced that Clean Seas Morocco, its subsidiary unit, had entered into a feedstock supply contract with waste management global leader Clean Oceans 2.
As per the terms of the agreement between the two parties, Clean Oceans 2 would supply Clean Seas Morocco and deliver waste plastic feedstock to the latter's facility located in Agadir, Morocco. The delivery would be made without any cost incurred by Clean Seas. The maximum deliverable amount of feedstock had been pegged at 1,000,000 metric tons a year, and that would take care of Clean Seas' feedstock supply for the entire year.
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