Those who are on the lookout for penny stocks need to be aware of the latest happenings in the category if they are to discover stocks worth tracking. In recent days, a number of penny stocks have come into focus, and here is a quick look at four of those that may be worth tracking.
Anson Resources Limited (OTC:ANSNF) This morning, the company hit the news cycle after it announced that it had ramped up its production activities at its production plant. Anson Resources Limited went on to note that it was consistently producing lithium carbonate at the plant out of brines from its Paradox Lithium Project. The project is situated in the southeast area of Utah. The lithium carbonate would be supplied by the company to offtake partners who may potentially come on board.
The company revealed that the lithium carbonate, of battery grade, was being produced at the Sample Demonstration Plant at its Lithium Innovation Center, situated in Florida. The production was being done with the use of a flow sheet that had been designed by Sunresin, the company’s direct lithium extraction (DLE) partner.
Anson Resources Limited announced that the lithium carbonate would be supplied to vehicle manufacturers and the cathode active material (CAM) partners of those manufacturers for testing in a qualification process. That would be the precursor to potentially securing long-term offtake agreements.
Else Nutrition Holdings Inc. (OTC: BABYF) On Thursday, the company announced that it had retained the services of Red Cloud Securities for the purpose of providing liquidity services. Else Nutrition Holdings Inc. noted that the liquidity services would be provided in line with the guidelines of the TSX Venture Exchange and other relevant rules. Red Cloud is a financial services firm based out of Toronto that helps issuers get access to capital markets and eventually boost their corporate profiles.
In the news release, it was noted that Red Cloud would trade the shares of the company on the TSX so as to maintain a market and boost the liquidity of the common shares of Else Nutrition Holdings. As per the provisions of the agreement, the company would pay $5000 a month during the term. The term of the agreement is open-ended and could be terminated by either of the two parties with a prior notice period of 30 days. While Else Nutrition Holdings and Red Cloud share an arm’s length relationship, the latter or its clients may have a direct or indirect interest in the company.
Pharma-Bio Serv Inc. (OTC: PBSV): The project management, technology transfer support, and compliance consulting firm is involved in providing its services to a number of sectors, including pharmaceutical, chemical, and biotech, among others. Yesterday, Pharma-Bio Serv Inc. announced that in the three- and nine-month periods ended on July 31, 2023, it had generated net income of $0.5 million and $1.4 million, respectively.
On a year-on-year basis, it reflected an increase of between $0.2 million and $0.5 million. Revenues for the same periods were $4.6 million and $13.6 million, respectively, which reflected a year-on-year decline of $0.2 million and $1.4 million, respectively.
Harleysville Financial Corp. (OTC: HARL) Yesterday, the company announced that its board of directors had approved the launch of a stock repurchase initiative. Harleysville Financial Corp. revealed that, as per the program, it would repurchase a maximum of 183,000 shares, which would make up around 5% of the outstanding common stock. In the news release, it was noted that the program would commence immediately after the conclusion of the current repurchase program from Harleysville Financial.
The current program still had around 53795 shares that would need to be repurchased. The repurchased shares would be held by the company in the form of treasury stock and made available for corporate purposes of a general nature.
