Over the course of the past few days, there have been a number of penny stocks that had come onto the radars of investors. It may be a good time for investors to take an interest in some of those. Here is a look at four such stocks which had hit the radars of investors lately.
Redwood Scientific Technologies Inc (OTC: RSCI) – The stock had been in the sights of investors on Tuesday and it remains to be seen if it continues to hold its own after having rallied by 20% yesterday. The company came on to the news cycle yesterday after it announced that it had submitted a patent application for its advanced Oral Thin Film manufacturing system.
The patent application from Redwood Scientific Technologies Inc was an indication of the company’s focus on bringing about a revolution in the pharmaceutical industry through advanced drug delivery systems. The delivery system developed by the company would provide a new level of accuracy with regard to the administration of minuscule dosages of active ingredients.
Currently, there is significant demand for pharmaceutical products based on precision. Redwood Scientific Technologies claimed yesterday that the breakthrough technology offered considerable advantages over regular modes of drug delivery and would lead to better outcomes for patients as well.
XTM Inc (OTC: XTMIF) – Yesterday, the company was in the news cycle after it came up with an update with regards to its management cease trade order, that had been announced previously. The order had been granted by the Ontario Securities Commission. As per the order, the company’s Chief Executive Officer Marilyn Schaffer and Paul Dowdall, the Chief Financial Officer, would not be able to trade in the XTM Inc stock until the company files its audited financial statements, annual management discussion, analysis and also other relevant certifications for the fiscal year ended December 31, 2022, and up until the order is lifted by the Ontario Securities Commission.
The company had been delayed in filing the necessary documents due to a change of auditor that had happened recently. Additionally, the audit requirements had also mounted due to the higher volume of transactions that the company had been involved in. It should be noted that the cease trade order would not affect the ability of other shareholders to buy or sell the XTM stock.
Blue Biofuels Inc (OTC:BIOF) – On July 11 the company was the cynosure of the eyes of many investors after the company announced that it had been awarded the coveted Phase 1 grant from the Department of Energy (DOE) Small Business Innovation Research (SBIR). The grant is worth $206,500 and would help Blue Biofuels Inc in its mission to make a paradigm change in the biofuel sector and create sustainable fuels for aviation and transportation.
The grant would provide the company with the funds to optimize and scale up its patented cellulose-to-sugar methodology. The funds will help in supporting the team of engineers and scientists who are going to be involved in the project.
IDW Media Holdings Inc (OTC: IDWM) – On Tuesday the company made a major new announcement with regards to the fact that the shares of its Class B common stock were going to begin trading. These shares started trading on the OTCQB Venture Market under the ticker symbol IDWM.
OTCQB is a trading platform in the United States and is operated by the OTC Markets Group INC. It is meant for companies from the United States and abroad that are in the early stages of development. Companies need to be current with regard to their reporting status in order to be listed.