The number of penny stocks across exchanges can sometimes be a bit overwhelming for investors, and hence, it may be necessary to have a bit of assistance with regards to the stocks that could be watched. This feature is going to make that task easier by providing a closer look at some of the penny stocks that may be worth tracking at this point in time.
Net Savings Link Inc. (OTC:NSAV) On August 4, the cryptocurrency, digital asset, and blockchain technology firm Net Savings Link Inc. announced that it had picked up a 40% stake in FUNGY. FUNGY is an advanced NFT marketplace. The company noted that throughout 2023, the worldwide NFT market would continue its recovery. As per a report published by Statista, the worldwide NFT market is expected to hit $1.6 billion in 2023.
FUNGY operates a platform that helps creators and artists issue and trade customized crypto assets that represent the ownership of their digital work. FUNGY is not only a marketplace for these assets but also a distributed network that has been built on the Polygon blockchain, which helps with trade without a go-between. Additionally, FUNGY also provides a range of real-life use cases like claiming sports games, concert tickets, cinema tickets, VIP access, and exclusive merchandise. The transaction also expanded Net Savings Link’s presence in the growing NFT industry.
Mining Global Inc. (OTC:MNGG) This past Friday, Mining Global Inc. announced the introduction of a targeted lithium merger candidate situated in Namibia, Africa. The company announced that it had filed a Supplemental Disclosure titled ‘Birds Eye View’ of the targeted merger with the OTC Markets as well. The filing provided a salient overview of the aforementioned lithium brine exploration project. The filing in question consisted of a Mining Report running into 80 to 100 pages, which was similar to an 8K type filing in terms of technicalities.
The company also provided an introduction to the back-office mining team, with associated BIOS. However, Mining Global also announced that additional filings are going to be required with regard to OTC disclosures. The company also thanked its loyal shareholders for having been patient throughout the process as Mining Global worked through a number of compliance and regulatory issues to get to the filing stage.
International Star Inc. (OTC:ILST): International Star Inc. lies at the interesting intersection of the cannabis and entertainment industries, and on August 4, it announced its strategic plan for 2023–24. The company emphasized that it was going to take a unique approach to leverage popular culture’s intellectual properties with celebrity endorsements.
The company operates primarily through its fully owned subsidiary, Budding Equity Inc., which is led by Dan Rubin. Additionally, it owns intellectual property contracts with some of the leading studios, which would allow for the licensing of the intellectual property to third parties involved in cannabis hardware. It is also involved in partnering with celebrities for licensing and branding cannabis products.
Eureka Homestead Bancorp Inc. (OTC:ERKH): The parent company of Eureka Homestead, Eureka Homestead Bancorp Inc., is a federal savings association based out of Metairie, Louisiana. It emerged on August 4 that it had reached an agreement with Eureka Investor Group Inc. by way of which both the holding company and Eureka Homestead would be acquired by Eureka Investors Group.
Eureka Investors Group had been established as a corporation recently by some of the experienced investors in the bank. The merger agreement, which had been adopted unanimously by the boards of all parties, provides provisions for a merger consideration to the tune of $13 million.
