Penny stocks get considerable attention from investors on a daily basis and it is easy to see why. These stocks trade at less than $5 a share and theoretically offer considerable upsides. Here is a quick look at four penny stocks which may be worth tracking at this point in time.
SOHM Inc (OTC:SHMN) – The company is involved in the manufacturing and marketing of generic drugs, cosmeceuticals and nutraceuticals for a range of treatments. Yesterday, SOHM Inc announced that it had successfully closed the financing and funding of a number of its on-going and future initiatives.
The Chief Executive Officer of the company Baron Night announced yesterday that the necessary funding for its pharmaceutical plant in San Diego had been secured. The development of the plan includes a Phase 1 and a Phase 2. He went on to add that SOHM would receive the funding in tranches over the course of a year as it continued to conclude different projects.
The majority of the funds raised by the company were from Preferred A Shares and the residual funding was from financial note. The CEO noted that the fund raising was imperative for SOHM to achieve its goals as a company and put its ‘Add Life to Lives’ vision into practice.
Consumer Automotive Finance Inc (OTC:CAFI) – The company is involved in the sports supplement, health and wellness, and fitness equipment industries. Yesterday, Consumer Automotive Finance Inc announced that it would launch a range of new products under its 51 brand. The products to be launched would include supplements like BCAA in a range of flavours, Whey protein in multiple flavours, Creatine Powder and Pre-Workout in a number of flavours. It was further noted that 51 LLC was working closely with a number of vendors for the purpose of creating the products which will not only be suitable for gym enthusiasts but also professional athletes.
The Chief Executive Officer of the company Robert Clark spoke about the company’s efforts too. He noted that Consumer Automotive Finance was working in conjunction with its vendors for expanding its product launch. He went on to add that the goal of the company was to turn 51 LLC into the preferred nutrition and supplement brand for both casual gym goers and also professional athletes.
Oak Ridge Financial Services Inc (OTC:BKOR) – It is the parent company of Bank of Oak Ridge and yesterday it announced that Marissa S Parrish, Jeffrey R Finberg and S Brady Young to Executive Vice President. Additionally, Oak Ridge Financial Services Inc also announced that Finberg had also been promoted to the position of Chief Credit Officer.
The promotions had gone into effect in March this year. Thomas W Wayne, the Chief Executive Officer and Chief Financial Officer of the company noted that all three had been vital to some of the major initiatives that had been taken up by the bank. He went on to note that he was confident that they would continue to contribute towards the success of the bank.
Asia Broadband Inc (OTC:AABB) – Yesterday, Asia Broadband Inc was in significant focus after it announced that it had received all the relevant laboratory mineral analysis equipment in relation to its new processing facility. The facility is located in Etzatland in Mexico.
The considerable testing capabilities of the new lab would enable the company to select high grade ore for the purpose of processing. That would, in turn, lead to higher revenues for Asia Broadband Inc. The company is looking to accelerate the construction of its new facility and are aiming make it fully operational by the third quarter of 2023.
