Penny stocks command such a strong following because these stocks can often generate enormous returns in a short span of time and there lies the attraction of these stocks. However, one also needs to comb the market well to discover the right ones. Here is a look at four penny stocks that have been on the radars of investors lately.
Jefferson Security Bank (OTC:JFWV) – On August 1 Jefferson Security Bank was in focus after it announced that it had formed a bank holding company entity named JSB Financial Inc. Additionally, the company also affected its own reorganization into a holding company as per the Agreement and Plan of Share Exchange and Reorganization dated March 14, 2023. It had been approved by the shareholders on April 26, 2023.
After the approval from the shareholders and regulators became effective on July 31, 2023, Jefferson Security Bank turned into a fully owned subsidiary unit of JSB Financial Inc. Following the move, anyone in possession of one share in Jefferson Security Bank was provided with a share in JSB Financial in the form of an exchange. The shareholders of the bank became the shareholders of the newly floated holding company. The shares of the new entity would start trading on the OTC Pink under the ticker symbol JFWV, which would be the same as the one used by Jefferson Security Bank.
SOHM Inc (OTC:SHMN) – The company is involved in the generic nutraceutical, pharmaceutical and cosmeceutical space. SOHM Inc markets and manufactures generic drugs that cover a range of treatment categories. On August 1 the company announced that it had signed a letter of intent with regards to the acquisition of the stem cell disruptive technology and patents called ABBE. Dr. Davig Aguilar, the owner of the technology, and his partners, submitted a proposal to SOHM about a possible acquisition of CGA Intellectual Holdings Inc and the patented technology.
The company’s technology patents had already been approved in China and at the moment it is waiting for approval in the European Union, Japan, the United States, and South Korea. Dr. Aguilar called the company’s platform technology ‘A Binding Based Integrating Enzyme’. He went on to add that the CRISPR system would also make genome editing available to a much bigger number of laboratories.
Green Cures & Botanical Distribution Inc (OTC:GRCU) – Green Cures & Botanical Distribution Inc, which is currently known as Global Roundtable Corporation, announced on August 1 that it had signed a Memorandum of Understanding to acquire Global Medical SRL. Global Medical is based out of San Jose in Costa Rica and is a subscription-based services company.
It offers private medical practitioners, eye care specialists, veterinarians, and other specialists on demand at deep discounts compared to the market rate. The President of Global Roundtable Robert Tanko noted that the scalability of the business and the natural synergies could help in boosting the businesses of both companies. He added that the transaction would be executed through Preferred Shares.
United Energy Corp (OTC:UNRG) – The natural gas-producing leader announced that it went into a joint venture partnership with Houston, Texas-based Bridge Energy LLC on August 1. United Energy Corp noted in its news release that it was a strategic partnership and was aimed at best applying the resources and expertise of the two companies for expanding its own processing capabilities of LNG (liquefied natural gas).
The company went on to add that such a move would also help in bringing forth the considerable potential LNG offered as a versatile and clean energy source. The partnership would provide the company with scalable gas liquefaction systems that it could install at its plants in Kansas and Oklahoma.