Penny stocks, often overlooked but full of potential, can offer investors exciting opportunities for growth with minimal investments. Staying informed about the latest developments in the world of penny stocks is essential, as it can unlock significant value and profit potential.
Let's take a look at four intriguing penny stocks making headlines.
FDCTech, Inc. (OTC:FDCT), a financial technology company specializing in the integration of smaller and mid-sized legacy financial service firms, has taken steps to expand its presence in the European market. On October 5, the company officially announced the acquisition of Alchemy UK, Alchemy Malta, and Alchemy UAE.
This strategic move is expected to fortify the company's position as a leading online trading and investment platform catering to clients in Europe, Asia, and Australia. The merger is anticipated to bring about operational efficiencies, cost savings, and the development of innovative products and services.
FDCTech stands to gain a competitive edge due to its regulatory-grade technology and liquidity solutions, which will enable it to serve smaller and medium-sized brokers more effectively, a segment often overlooked by larger financial institutions.
Moreover, this acquisition marks a significant milestone in FDCTech's operational history, positioning the company as a major player in facilitating trading activities for proprietary accounts on regulated exchanges. It will also serve as a liquidity provider for small and medium-sized brokers in Europe and Asia.
Alchemy UK provides financial services to brokers, hedge funds, and institutional clients in a cost-efficient environment, while Alchemy Malta, regulated by the Malta Financial Services Authority (MFSA), offers retail online broker services. In 2022, Alchemy Malta reported impressive financial results, with audited revenues exceeding $22 million and net income surpassing $12 million, potentially strengthening FDCTech's financial position.
This acquisition follows FDCTech's earlier acquisition of a 50.10% equity interest in Star Capital Trading on April 10, marking the beginning of the company's pursuit of growth opportunities in Europe. NSFX Limited, regulated by the Malta Financial Services Authority, offers trading platform services in multiple languages, presenting clients with opportunities to trade currencies, commodities, equities, and cryptocurrency-linked derivatives.
The recent acquisition aligns with FDCTech's positive second-quarter financial results, where the company's technology business experienced a remarkable 239% growth. Quarter-on-quarter revenue surged by 16%, reaching $1.76 million from the previous year's $1.525 million. Technology revenues also saw a significant increase, rising to $310,315 from $89,000 in the prior period.
FDCTech achieved a substantial improvement in gross margin, reaching $442,657 compared to the previous year's $155,121. The company's return to profitability is noteworthy, with a net income of $922,343, marking a 342% increase from the net loss of $381,474 in the preceding year, partly attributed to the favorable purchase price of Alchemy Markets Ltd.
With the addition of Alchemy Markets, FDCTech anticipates a substantial boost in its wealth management revenue, potentially further enhancing its financial outlook.
Hiru Corporation (OTC:HIRU) is the sole owner of AZ Custom Bottled Water Inc., an operational subsidiary registered as a Nevada corporation. This subsidiary operates a water bottling and labeling plant located in Phoenix, Arizona.
On October 6, Hiru Corporation announced its strategic move to expand its nationwide revenue base. The company initiated this expansion by establishing new facilities and introducing new water products. It also consolidated all its West Coast operations at its Glendale, Arizona facility, a decision aimed at reducing costs while efficiently serving its substantial and rapidly growing customer base.
Kathryn Gavin, President and CEO of the Company, commented, "As we finalize the changes to our West Coast operations, focusing on cost reduction through consolidation at our Glendale location, we are also advancing our plans to expand our presence on the East Coast."
The completion of the consolidation plan would enable the company to concentrate on expanding its operations on the East Coast. Hiru Corporation intends to achieve this through agreements with co-packers and the establishment of its production plants in areas where demand for its products already exists.
Furthermore, the company announced its intention to introduce two new products: still and distilled water. Hiru noted an increased demand for distilled water across the United States, driven by population growth and various factors such as limited production capabilities, supply chain challenges, packaging material shortages, industrial expansion, and water source concerns.
Hiru is also in the final stages of negotiations with a Northeastern United States-based co-packer. This co-packer is set to produce private-label distilled water for major retailers and handle the production of spring water products, which will be distributed to the same retailers
TGI Solar Power Group Inc. (OTC:TSPG), a diversified holding company, is dedicated to acquiring patented and innovative technologies, designs, processes, components, and methods with commercial value. TGI Solar Power Group Inc. seeks acquisitions that not only grant it a competitive edge but also create value for its shareholders.
On October 5, the company announced the successful acquisition of assets in the veterinarian biotech sector. This included a veterinarian biotech company specializing in unique gene and cell therapies for veterinarian clinics. The new acquisition also emphasizes on-site product production through advanced automated systems, ensuring efficient and rapid supply in clinical settings.
Henry Val, CEO of TGI, commented on the acquisition, "Through this partnership with CGT, we gain access to a new loyal customer base to which we can offer our full range of veterinary products, with an estimated $10 million in revenues projected in the second year of the partnership. The Biovet CGT partnership offers a wide array of cellular-derived therapies, meeting the highest regulatory standards."
The newly acquired assets will operate under the unit BIOVET CGT, which will provide cutting-edge automated systems to enhance therapy delivery efficiency and ensure optimal medical outcomes for animals. Additionally, BIOVET CGT has entered into a joint venture agreement with Biovet Inc., forming a collaborative veterinary network focused on deploying cell therapies for veterinary use.
Biovet, an existing comprehensive veterinary services provider, plans to expand its operations through the largest pet retailer in the United States. TGI Solar Power Group highlighted in its press release that BIOVET CGT aims to become a rapidly growing global entity comprising innovation-driven companies united in their mission to advance animal health.
BIOVET CGT will offer veterinary clinics access to infrastructure, expertise, and networks, while providing TGI Solar Power Group access to an established customer base. The company anticipates generating $10 million in annual revenues by the second year of the partnership, along with a global license for innovative veterinary technologies.
On October 5, Galexxy Holdings Inc. (OTC:GXXY) came into the spotlight with a significant announcement regarding its partnership with Hussle Tech. In a joint statement, Galexxy Holdings Inc. revealed that they would integrate the Verb and Hussle app technologies as part of their agreement.
As a result of this collaboration, the Galexxy Sales App will be deployed to drive the direct sales channel of Galexxy LLC. Back in August 2023, the company announced the formation of Galexxy LLC in partnership with Pillars International. This venture was established as a direct sales company specializing in natural plant-based and technology products. Pillar International provided cutting-edge real-time payment recognition and management solutions, facilitating rapid growth in the personal sales business.
The company emphasized in its recent press release that it's expanding its technology offerings by incorporating Verb's sales app technology, known as Hussle. Hussle currently stands as the top-rated direct sales enablement platform, and its acquisition by Galexxy Holdings Inc. has further enhanced its capabilities. With this integration, the Galexxy app is poised to achieve industry-leading retention rates, along with a 40% increase in click-through rates to the company's website.
Michael Biagi, CEO of Galexxy Holdings, Inc., commented, "Our commitment to delivering world-class products powered by scalable technology is reshaping the direct sales industry. Combined with our industry-leading functional mushroom blended products, which are expected to tap into a new $69 billion marketplace by 2030, this integration is a game-changer."
The new Galexxy app offering equips users with essential tools to establish their individual businesses, onboard and train sales affiliates, facilitate global communication, and access a comprehensive social media library with various features.
With these developments, the management at Galexxy now boasts a compelling lineup of proprietary mushroom products. These products are enhanced by an efficient real-time payment system and the Galexxy App technology platform, further promoting their adoption and success.
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