As the stock market continues to fluctuate, investors are always on the lookout for potential opportunities to grow their portfolio. One area that often piques the interest of investors is stocks that are priced under a penny. These stocks can often present an enticing opportunity for those looking to invest in a company at a low cost with the potential for significant returns.
Let's take a closer look at a few actively traded companies for under a penny. Each company has recently issued news, and some were able to put together a solid week of trading.
Let's take a look at some active stocks under a penny.
Epazz Inc. (OTC: EPAZ) has been generating buzz in the drone sector and attracting investors seeking growth opportunities. The company is a crucial provider of drone technology, blockchain mobile apps, and cloud-based business software solutions. Recently, on April 26, EPAZ announced that ZenaDrone had debuted its ZenaDrone 1000 at the 2023 AERO event in Germany, catching the attention of major organizations.
During the event, ZenaDrone successfully met with NATO partner countries' defense, German law enforcement, and rail lines to showcase how their ZenaDrone 1000 technology can help solve railway inspection issues, reduce the use of helicopters, and provide vital support to NATO troops. The company also met with German UAV regulators to establish beyond-visual-line-of-sight operations in Germany.
ZenaDrone is already ahead of the game in Ireland, where they have received approval for beyond-visual-line-of-sight operations meeting the European Union Aviation Safety Agency's standards. Once the company receives final approval in Ireland, it will be approved in Germany within ten business days. The company plans to conduct flight demonstrations in northern Germany, allowing personnel to fly the drone themselves and witness how it can fit into their operations.
Investors are keeping a close eye on Epazz Inc. and ZenaDrone's developments as they continue to expand their reach and make strides in the drone technology industry. With a strong foothold in the market and innovative solutions to common problems, Epazz Inc. is a potential stock that could yield promising returns.
Enzolytics, Inc. (OTC:ENZC) is a drug development company focused on creating treatments for serious infectious diseases. ENZC has developed a compound called ITV-1, which has been tested and proven effective in treating HIV/AIDS. The company is also using proprietary technology to produce monoclonal antibodies, which are currently being used to create treatments for the coronavirus, HIV-1, and feline leukemia.
Additionally, they have identified many other viruses they plan to target with monoclonal antibodies, including influenza A and B, smallpox, and rabies. The company is committed to developing innovative treatments for a range of infectious diseases.
ENZC recently updated shareholders on the progress of the recently announced business combination between Enzolytics' operating subsidiaries, Biogenysis and Virogentics, and Sagaliam Acquisition Corp. ("Sagaliam"). In preparation for this ownership transition, Dr. Gaurav Chandra has been appointed Chief Executive Officer and Chairman of Biogenysis.
Enzolytics is continuing to make progress on the definitive agreement for the business combination with Sagaliam Acquisition Corp. Sagaliam recently announced the funding of its fifth extension. The date by which Sagaliam has to complete its business combination has been extended from April 23, 2023, to May 23, 2023. This extension provides ENZC with additional time to complete its business combination.
In addition, ENZC continues to plan to create an artificial intelligence division to develop drug discovery and development strategies. Large pharmaceutical companies are creating internal algorithms and partnering with or acquiring new companies to use AI to increase their portfolios and pipelines. With an increased focus on AI-empowered drug discovery platforms that allow the discovery of multiple drugs with multiple targets and applications, Biogenysis acknowledges the importance of the all-encompassing One Health in pandemic prevention and preparedness.
Charles Cotropia, CEO of Enzolytics, stated, "At Biogenysis, we have a pipeline of monoclonal antibodies. In addition, we are creating a strong IP portfolio for multiple infectious diseases, covering diagnostics, therapeutics, and vaccines for these viruses. Strategically, we are focused on meeting milestones and licensing each of these assets. The SPAC agreement allows us to move forward with multiple monoclonal antibodies simultaneously, bringing significant value to our shareholders."
Enzolytics is making steady progress towards its business combination with Sagaliam Acquisition Corp., and the appointments of key executives to its operating subsidiaries demonstrate its commitment to advancing its distinctive technologies.
NaturalShrimp, Inc. (OTC:SHMP) is a company that grows shrimp using a unique and patented system. Their technology allows them to grow fresh, never frozen, and naturally grown shrimp in enclosed salt-water systems without using harmful chemicals or antibiotics. The company is based in Dallas and is publicly traded. With their innovative system, NaturalShrimp can produce gourmet-grade Pacific white shrimp anywhere in the world.
Last week, Natural Shrimp filed an updated registration statement on Form S-4 in connection with its proposed merger with Yotta Acquisition Corp. The proposed merger is expected to accelerate the commercialization and production ramp-up of farm-to-table sushi-grade shrimp and fresh seafood and to help Natural Shrimp expand its production and distribution capabilities.
As part of the merger, NaturalShrimp could receive up to $105 million in net cash proceeds at the consummation of the transaction, assuming no redemptions. The parties expect that the common stock of the parent company of the combined company will become listed on Nasdaq post-deal close.
NaturalShrimp and Yotta Acquisition Corp. are planning to conduct a global marketing campaign to educate institutional and other investors about their innovative system. Yotta Acquisition Corp. will issue 17.5 million of its common shares to the stockholders of NaturalShrimp. Additionally, the stockholders of Natural Shrimp are entitled to receive an additional 5.0 million common shares (current valuation of $50.0 million) based on achieving certain revenue targets for 2024 and 5 million common shares (current valuation of $50 million) for revenue targets for 2025. These earn-out shares will be available to shareholders of record on the closing of the transaction.
Assuming no redemptions, the total enterprise value is estimated at approximately $275 million at the closing of the transaction. The merger is set to bring NaturalShrimp's innovative and sustainable farming practices to a wider audience and help the company expand its production and distribution capabilities.
One stock to consider that many may not be familiar with is IMPM. Last week, the company issued a press release detailing their recent move to the OTC market, following the notification from NYSE, that IMPM is no longer in compliance with the $2 million, $4 million, and $6 million shareholder equity requirements of Section 1003(a)(i), (ii), and (iii) of the NYSE American Company Guide.
As a result, the NYSE American has suspended trading in the company's common stock, and Impac Mortgage Holdings, Inc. has decided not to appeal the decision. The company informed the NYSE American in its required quarterly plan update that it cannot continue to demonstrate an ability to return to compliance by February 26, 2024, which was the date the NYSE American originally granted the company to regain compliance with the NYSE American's continued listing standards.
After delisting, IMPM began trading on the OTC Pink exchange. This news marks a significant change for the company, which will now be subject to different reporting and regulatory requirements.
While the move to the OTC Pink exchange may be seen as a negative for the company, it does provide a continued trading platform for investors who wish to maintain their positions in the company. It remains to be seen how this change will affect Impac Mortgage Holdings, Inc. going forward, but the company has stated that it remains committed to providing innovative mortgage lending and real estate solutions to its clients despite this setback.
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