The OTC Markets can often be the place for discovering gems on a regular basis, but it is also necessary for investors to do their research and then create a watch list. Here is a quick look at five OTC Markets stocks that investors could consider adding to their watch lists.
First Commerce Bancorp Inc. (OTC:CMRB) The holding company of First Commercial Bank, First Commerce Bancorp Inc., announced yesterday that it had instituted an initiative to repurchase as much as 5% of its outstanding shares of common stock. Such a move would see the company repurchase around 1.2 million shares of its common stock.
Since the company had its holding company reorganization on May 31, 2023, this was the first stock repurchase program. In the news release from First Commerce Bancorp yesterday, it was noted that stock could be repurchased from the open market or through private transactions, such as block trades. Additionally, the company could complete those trades through any other trading plan, which would be in line with Rule 10b5-1 of the United States Securities and Exchange Commission.
The company did not put an expiration date on the stock repurchase plan, but it could be suspended at any time for any reason. First Commerce Bancorp noted that any open-market purchases of the stock would only be made in line with the related legal requirements. There is no obligation to purchase a specific number of shares in any particular time period.
Optimus Healthcare Services Inc. (OTC: OHCS) Yesterday, Optimus Healthcare Services Inc. announced that it had inked a memorandum of understanding with RUA Diagnostics Inc. As per the terms of the agreement, the parties could negotiate a joint venture focused on the commercialization of diagnostic devices built on the Patent License Agreement between the Regents of the University of Michigan and RUA.
The agreement is inclusive of dozens of international and United States patents with regard to the deployment of micro-gas chromatography used with miniature gas detectors and related software, as well as artificial intelligence for breath analysis. The breath analysis is meant for the diagnosis of any human or animal disease state. The targeted diseases for detection include ARDS, sepsis, traumatic brain injury, and other inflammatory forms of different diseases and cancers. Additionally, the technology also allows monitoring of the patients so that it is possible to figure out if there has been an improvement or a deterioration in the condition.
Tian’an Pharmaceutical Co., Ltd. (OTC: TNPH) On Wednesday, Tian’an Pharmaceutical Co., Ltd. was one of the companies that came into sharp focus following an announcement about a change in its outstanding share count. The company announced yesterday that it issued a total of 397.7 million common shares after the conversion of 26.51 million preference shares.
The move led to an increase in the number of common shares in Tian’an Pharmaceutical to as much as 479.4 million. Concurrently, the number of preference shares in the company was reduced to 21.37 million. The company urged anyone with further questions to consider sending an email to firstname.lastname@example.org.
Summit Bank Group Inc. (OTC: SKBO) On August 16, Summit Bank Group Inc. announced that Chief Operating Officer Chris Hemmings had been appointed as the Board Chairman of Food for Lane County. Food for Lane County is a major non-profit organization that is focused on alleviating hunger and then helping with the creation of a healthier community. In the news release, it was also noted that prior to this appointment, Hemmings had also been a member of the finance committee of the non-profit for five years. He served as an active member of the Food for Lane County board for three years prior to this elevation.
In his new role, he would put into practice his leadership capabilities to guide the organization toward sustained success. Hemmings’ dedication to the welfare of the community and a proven track record in financial management make him an ideal fit for the role. His tenure as Chairman of the Board commenced on July 1, 2023, and would continue until June 30, 2024. He noted that it was an honor to serve in this capacity.
Alliance Creative Group Inc. (OTC: ACGX) Earlier this week, Alliance Creative Group Inc. announced its financial results for the fiscal quarter that ended on June 30, 2023. The company recorded revenues of $322,827 during the quarter, and the gross profits generated during the quarter came in at $322,827 as well.
Alliance Creative Group generated net income to the tune of $54,484 in the quarter. At the end of the quarter, the total value of the assets on the company’s books stood at $4,943,921. The total number of outstanding common shares was 3454,211, and out of those, 2,198,971 were in the float.