The OTC Markets can often be a fertile hunting ground for investors looking for stocks that could deliver strong gains. The market provides pricing and liquidity information with regard to more than ten thousand over-the-counter stocks. The securities traded on the OTC are further classified info Pink, OTCQX and OTCQB so that investors can recognize the risks and opportunities involved. Here is a look at four OTC stocks that recorded gains last week.
Affluence Corporation (OTC: AFFU) – On Thursday, the diversified technology company Affluence Corporation had been one of the notable movers in the OTC Markets as it ended the day with gains of 33%. The company is involved with software meant for smart cities and other innovative solutions which encompass AI, IoT and 5G technologies.
The company is involved in investing in middle-market businesses and seeks to create an ecosystem that could offer the technology necessary for the new generation of communication. The company has four main objectives. One of those is to emerge as a worldwide leader in edge computing solutions for powering the next generation of the internet and sustainable growth. Thirdly, Affluence seeks to make it viable for any city or town to turn into a ‘smart city’ by deploying its smart city solutions builder. Lastly, it seeks to boost the value of the company through a strong revenue base and a steady rise in profits.
The company has become a significant player in the Smart City Software and Internet of Things space. On June 28, Affluence Corporation announced that it had got a multi-year contract worth many millions of dollars for a high-profile smart city project in Riyadh, Saudi Arabia. It was further noted that the contract had been secured by one of the company’s high-profile technology partners. A number of other contracts associated with the project are going to be up for grabs over the next 12 months.
The true value of the contract would become apparent when the three parties involved with the contract sign a formal agreement at some point in the next 60 days. Affluence’s IoT Solution Builder unit OneMind Technologies already shipped the software necessary for Phase 1 of the project. The revenues from the same would reflect in Affluence’s financials in the second fiscal quarter.
Affluence Corporation has also performed strongly on the financial front in recent times and that was apparent in the first quarter results. The company generated a record first-quarter revenue of $887278 and a record net income of $277,685. The revenue generated in the first quarter was around 60% of the revenue generated by Affluence in the entire 2022 fiscal year. The net income figure was the highest profit recorded by the company in its entire history. CEO James E Honan noted that he believed that this trajectory of growth is going to continue.
Capital Financial Global Inc (OTC:CFGX) – It was another significant mover on Thursday as it ended up with gains of 33% amidst significant interest. Capital Financial Global Inc is a specialty finance company that offers loan advisory services and asset-backed financing. The services offered by the company are in direct contrast to traditional models of banking. Its approach deploys an asset-backed approach, which provides organizations with the sort of liquidity that they need. This approach helps in the origination of new loans. The company also trades in existing loans and also converts distressed collateral into trade-able forms or into cash.
Capital Financial Global is working on venturing into more exciting avenues and on June 23 it announced that it was going to create a new real estate debt fund. The name of the fund had not been revealed due to compliance issues. The move was a reflection of Capital Financial Global’s continued commitment to exploration of innovative solutions for asset-backed lending. The fund is intended to provide prospective investors with an opportunity to get real estate collateral-secured returns at a time when interest rates are higher than normal.
Institute of Biomedical Research Corp (OTC:MRES) – Most OTC Markets watchers may have noticed the 28% rally in the company’s stock yesterday. It may be a nutraceutical company involved in artificial intelligence-powered plant-based cannabinoids, psilocybin, and mental health research but this week it made an intriguing announcement.
On June 27 Institute of Biomedical Research Corp announced that it had signed a letter of intent to complete the acquisition of JDAX. JDAX is a significant cryptocurrency platform that offers easy trading, exchange, and secure storage of digital assets. JDAX helps allows its users to hold, buy and sell a range of cryptocurrencies and at the same time it offers a highly advanced digital marketplace. Additionally, the platform also allows users to manage wallets, access comprehensive data and execute trades.
JDAS is a well-known Johannesburg Digital Assets Exchange and is a notable financial technology company in South Africa. Institute of Biomedical Research Corp is based out of South Africa as well. On June 16, Institute of Biomedical Research Corp announced that it had inked an agreement with the University of Pretoria to carry on its research into plant medicines. Additionally, it would also look into the application of machine learning and AI in the fields of forensic science and drug discovery.
Verde Bio Holdings Inc (OTC:VBHI) – The company is based out of Frisco, Texas, and is mainly engaged in the acquisition and eventual management of the main oil and gas properties in the United States. The company mainly looks for mineral and royalty interests with lower risk as well as onshore oil and gas properties.
The company places its growth strategy on the considerable knowledge of experts that it employs. It has also managed to cement its place in the energy industry through the development of a long-term vision dependent on the recognition of major opportunities that continue to arise in the ever-growing industry.
The stock went into a rally yesterday and ended the day with gains of 20%. The rally may have been brought about by the announcement on June 27. The company announced at the time that it had completed the sale of a 55% stake of its interest in three of the company’s non-core assets to a private buyer for $398750. That transaction had been completed on June 1, 2023. Verde Bio Holdings noted at the time that it wished to invest the proceeds into higher-performing assets. The Verde Bio Holdings CEO stated that it was an example of responsible portfolio management and the diligent execution of a business model.