In the world of OTC penny stocks, four that trading under a penny have recently commanded attention with their recent developments. These low-cost stocks offer potential opportunities for investors. Examining their recent track records and noteworthy events provides valuable insights into their current positions.
Let’s dive into these penny stocks, shedding light on their latest updates and dynamics that distinguish them in this diverse sector of trading.
Ameritek Ventures Inc. (OTC:ATVK) is an emerging technology firm firmly focused on leading-edge industries like artificial intelligence, robotic technology, and blockchain cloud software. One of its major subsidiary units, Augmum, is regarded as a precursor to the integration of machine learning and augmented reality.
The innovative approach from Augmum seeks to boost the control of robotic arms through the use of specialized glasses and gloves. The technology could potentially help streamline a number of industries by boosting precision and automating tasks. The worldwide robotic technology market is expected to go from $72 billion in 2022 to $282 billion in 2032. Ameritek Ventures is in a position to cash in on that growth.
On September 7, ATVK was in focus after it emerged that Augmum had filed a patent for the robotic arm technology. Augmum's goal is to create a platform that can be used by businesses, the military, and healthcare organizations. The platform would enable users to use robotic arm technology to interact with distant environments remotely.
"We are preparing the robotic arm technology for the market; it has been under development for the past 4 years," said Shaun Passley, Ph.D., CEO of Ameritek Ventures, Inc. "Robotic Arm Technology works with our HailOas glasses to offer an all-in-one solution for remote environmental interaction."
For instance, this technology would allow doctors at the military base to interact with a patient who may be stationed on the front lines. The patent submission was also the culmination of four years of work during which it had been under development. The robotic arm technology would work with the company’s own HailOas glasses and provide an all-in-one product for interaction with remote environments. HailOas is geared towards overlaying virtual information in the physical realm. While it offers the functionalities of a smartphone, it also supports smart assistants, AR technologies, video recording, and music playback.
The filing of the patent came a few weeks after Ameritek Ventures had made significant strides in its quest to become a major player in the enterprise software space. On June 28, the company announced concrete plans to launch business decision-making software combined with artificial intelligence capabilities. The company’s subsidiary, ESM Software, would be involved in the development of the software and has been involved in the development of business strategy management solutions.
Another subsidiary of Ameritek Ventures, FlexFridge, had also been going from strength to strength. The subsidiary helped the company boost its presence in the medical industry with the portable medical-use mini-smart fridge FlexFridge. The fridge is equipped with a battery life of eight hours, making it perfect for the transportation of medicines and vaccines that need to be transported at temperatures below freezing.
The company is also looking into many other opportunities for growth in the emerging technology space. The company would also focus on capitalizing on the significant growth that has been witnessed in the artificial intelligence sector.
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GlobeStar Therapeutics Corporation (OTC:GSTC) is a clinical-stage pharmaceutical firm involved in the development of a patented drug formulation for treating multiple sclerosis and other neurodegenerative conditions. On September 28, the company announced that it had entered into a definitive agreement with SMI Healthcare LLC.
As per the terms of the agreement, SMI would be responsible for overseeing the initial clinical trial, manufacturing, sales, distribution, regulatory filings, and intellectual property rights filings for GlobeStar Therapeutics’ multiple sclerosis treatment in certain markets. Those markets include Africa, Southeast Asia, India, and the Middle East, without Iraq and Israel. Additionally, SMI Healthcare would also distribute the product to private aid and governmental organizations.
James C. Katzaroff, President and CEO of GlobeStar Therapeutics Corporation, stated: "SMI HealthCare and its affiliates will collaborate closely with GlobeStar to advance our commercialization of Project Amethyst. Our plan is to utilize the relationships and expertise of SMI HealthCare's professionals in the region to finalize arrangements locally for a clinical trial that meets the requirements for marketing approval by the Drug Controller General of India (DCGI). We then anticipate commencing sales in India and other countries in the region that accept DCGI approvals. Concurrently, we intend to arrange for additional clinical trials and begin the regulatory approval process in the United States, Europe, and elsewhere."
The company is the exclusive global licensee of Project Amethyst, as well as all the patents and patent applications pertaining to it. SMI Healthcare and its affiliated firms would work closely with the company to push forward the commercialization of Project Amethyst.
GlobeStar Therapeutics Corporation plans to leverage the specific expertise and connections possessed by the professionals at SMI Healthcare to meet the local requirements for a clinical trial in India. Specifically, the trial would need to garner approval from the Drug Controller General of India (DCGI). Consequently, the company anticipates that it will be able to start selling its product in India and in those jurisdictions that accept DCGI approvals.
The company would also continue to work on other clinical trials and the regulatory approval processes for other markets like Europe, the United States, and others. India is currently regarded as one of the leading locations for conducting high-quality clinical trials meant for the regulatory agencies in the United Kingdom, the European Union, and the United States Food and Drug Administration. The primary reason for that is the fact that the cost of conducting the trial is usually 50% of the cost of a similar trial in the United States.
Yuengling’s Ice Cream Corporation (OTC:YCRM) was established in 1920 by the American businessman Frank D. Yuengling during Prohibition to support the brewery that belonged to the family.
The brewery lasted from 1920 through 1933, and in 1935 it was spun off as a separate company. Since then, Yuengling’s Ice Cream Corporation has been known for manufacturing high-grade gourmet ice cream in Pennsylvania. In 1985, it ceased production because there was no family successor. However, in 2024, the brand was revived with concrete plans for the expansion of distribution and production. Last year, the corporate reorganization led to the launch of plans to take Yuengling’s Ice Cream Corporation private ahead of the re-launch of its products in the spring or summer of 2023.
On September 28, the company made a key joint statement with the Texas-based entertainment and music firm PickleJar Holdings, Inc. In the statement, it was announced that the companies had mutually agreed to extend the deadline date for the completion of an initial business combination. The date was extended to November 15, 2023, from September 30, 2023. Additionally, Yuengling’s Ice Cream also revealed that PickleJar Holdings would make a deposit of $150,000 to a trust account in relation to the extension.
Commenting on today’s announcement, PickleJar’s co-founder and chief executive officer, Jeff James, said, “Throughout my career, I have done a lot of innovative work, but this has been the most exciting for me. We can see the near future of the entertainment industry that is not only integrated but also intuitive. I am very grateful to my team, whose relentless efforts have brought the company to this monumental moment. I’d also like to extend special thanks to Yuengling’s team for its commitment to this process and to its shareholders for their trust. As our next step, we plan to complete this work with diligence and speed so we may get on to the business of maximizing shareholder value.”
In the news release, it was revealed that the aim of the extension had been to provide Yuengling’s Ice Cream with more time for consummating the business combination through the filing of the regulatory filings necessary for such transactions. The two companies executed a Memorandum of Understanding for amending the agreement in relation to the letter of intent that had been signed on August 28, 2023. PickleJar retained the services of Michael Best’s legal representation for representing its shareholders through the course of the transaction process.
Image Protect Inc. (OTC:IMTL) is a technology and media company involved with digital assets. Image Protect Inc. has a one-of-a-kind digital asset library as well as proprietary technology developed by Fotofy, its subsidiary. The company is also known for the ownership and operation of www.legendNFTs.io, which facilitates the auction of NFTs of hip-hop artists and some prominent sports figures. Additionally, it has also been working on the development of Tokentunz as a website for music-based NFTs.
The company is also a worldwide leader in the end-to-end copyright infringement space. On September 26, it was announced that in the second fiscal quarter, its biggest lender had forgiven as much as $1400,000 in principal, convertible debt, and accrued interest.
On May 2, 2023, a judgment was entered, which meant that GPL Ventures had to surrender all unconverted convertible notes in their entirety to Image Protect. It had been notified in the appendix of the concerned judgment. The final figures were disclosed in the company's most recent financial statements, which were filed with OTCMarkets.com.
“CEO James Ballas states: “This is a significant financial development and marks a positive step toward ensuring the financial health of the company. This reduces the potential for future dilution for existing shareholders and clears the path for a pending joint venture or acquisition of an established national brand in the technology sector that the company expects to be announcing within the next two weeks.”
It was a significant step in the right direction for Image Protect to safeguard its financial health. It would also reduce the possibility of future dilution of the shares in the company for the current shareholders. Additionally, it would also provide the company with a clear pathway for a joint venture or acquisition that had been pending. The joint venture acquisition would be with a noted national brand in the technology sector. At the time of the news release, Image Protect revealed that it expected to make an announcement about the same in the following two weeks.
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