One of the reasons penny stocks attract such attention is because these stocks can often deliver outsized gains in a short period of time. However, investors also need to have a degree of risk tolerance and strong research capabilities to discover the right ones. This feature would take a look at four penny stocks that may be worth tracking at the moment.
Data443 Risk Mitigation Inc (OTC:ATDS) – The company is a privacy software and data security company which claims to offer ‘All Things Data Security’. On Monday, Data443 Risk Mitigation Inc announced that it had been successful in completing a number of transactions that led to the opening up of $1.5 million of growth capital. It also helped in retiring some of the company’s debt obligations.
Those transactions also included the direct investment to the tune of $1.5 million , the exchange of an outstanding note for a new one under fresh terms and also the release of certain security related interests on the company’s assets.
The company further noted yesterday that these transactions would also help in supporting some of the internal goals of Data443 Risk Mitigation. One of the goals of the company is to list on one of the major stock exchanges. The sole placement agent for these transactions was Dawson James Securities Inc.
Cloud DX Inc (OTC:CDXFF) – The company is involved in providing remote patient monitoring services in the North American market. Yesterday it announced that it had bagged a competitive contract from a major network of 12 primary care clinics based out of Western Canada. As per the terms of the contract, Cloud DX Inc would supply its Connected Health Remote Patient Monitoring Platform in the area.
The company further announced that the collaboration would be directly with physicians and would make the availability of patient monitoring for senior citizens suffering from diabetes, heart failure, hypertension and COPD far more widespread. More than 5 million Canadians suffer from 1 or more of the above mentioned conditions. In the initial phase of the program, maximum of 50 patients are going to be enrolled on to the program and would be prescribed the Cloud DX Connected Health Kit.
Bluejay Mng PLC (OTC:BLLYF) – The exploration and development company currently boasts of projects in Finland and Greenland. Yesterday Bluejay Mng PLC came up with key strategic details about its portfolio of the exploration projects located in eastern Finland. The company announced that all the projects were owned by its fully owned subsidiaries FinnAust Mining Northern Oy and FinnAust Mining Finland Oy.
The entities are collectively referred to as FinnAust. One of the highlights was that the company and mining giant Rio Tinto had completed its Joint Venture Agreement and Earn in Agreement with regards to the Enonkoski Ni-Cu-Co Project. The company would retain its 100% ownership while Rio Tinto invested $4.65 billion. Additionally, the disinvestment of its non-core Finland based assets was also on course.
Destiny Media Technologies Inc(OTC:DSNY) – It was an important day for Destiny Media Technologies Inc yesterday as the company announced that it had launched the beta version of MTR or Music Tracking Radar. MTR is a service that allow professionals from the music industry to monitor the digital broadcast of music. The company also announced that the during the beta launch 800 stations across Canada would be covered.
The company would also offer discounted monitoring as part of the beta launch. The service would only be made available in Canada initially, however, there are plans from the company to expand the service across the globe.