One of the biggest reasons why penny stocks garner such a following is because the right investment can often result in significant profits. However, one needs to put in diligent research to discover such stocks. Here is a quick look at four penny stocks that could be added to the watch list at this point.
ARway.ai (OTC: ARWYF): The company is involved in the running of an artificial intelligence-backed augmented reality experience platform. The platform is equipped with a disruptive, no-beacon, no-code spatial computing solution of great accuracy. On August 23, ARway.ai announced that it had signed a platform agreement with Localiza Rent a Car SA, the biggest car rental network in South America.
Localiza boasts as many as 540 locations spread across nine nations. The latest move from Localiza is part of its larger effort to provide a different customer experience by way of its newly established car rental hubs at all the major airports on the continent. The deal had originally been announced in February this year, and at the time, a pilot run had been conducted using the navigation technology from ARway.ai at an international airport in Sao Paolo, Brazil. The initiative would provide customers with AR navigation starting from baggage pickup to the transport depot for bus stops, rental cars, and on-demand services.
Wedgemount Resources Corp. (OTC: WDGRF) On Wednesday, the company hit the news cycle after it announced that it had entered into a purchase and sale agreement pertaining to the acquisition of oil and gas assets situated in the Permian Basin in West Central Texas. Wedgemount Resources Corp. also noted in its press release that the agreement had been made with a private company based out of Texas in an arm’s length transaction. The assets encompass an area of 1200 acres and boast nine oil and gas wells. Eight of those wells are active producing wells, while one of those is an injector well producing 27 barrels of oil a day.
The transaction was worth $650,000, out of which $50,000 was paid in cash and the rest through a vendor take-back loan (VTB loan). The company also revealed that the acquisition was going to be non-dilutive in nature and would be financed through a VTB loan and cash on hand. It was also announced that there were opportunities to add more assets in the immediate area.
Qrons Inc. (OTC: QRON) The innovative biotech company, that is involved in the development of technologies and treatments for combating infectious and neuronal diseases, made a key announcement yesterday. Qrons Inc. announced that it had launched an updated version of its website, www.qrons.com, which would provide the public as well as investors with details about the many strides being made by the company.
The company is especially focused on those neuronal and infectious diseases that are caused by antibiotic-resistant bacteria. Additionally, Qrons is also involved in providing solutions for traumatic brain injuries.
Stillwater Critical Minerals Corp. (OTC: PGEZF) On Wednesday, the company came onto the radar of investors after it announced that it had appointed a new independent director in the form of Nora Pincus. In the news release yesterday, Stillwater Critical Minerals Corp. noted that Pincus was a seasoned professional in the resource industry and held global experience spanning 15 years.
Over the course of her career, she worked for both junior and major mining entities with operations in South America and North America, Asia, Australia, and Africa. Additionally, she also holds considerable experience in mergers and acquisitions as well as capital markets-related transactions in the mining sector.
