OTC Stocks Watchlist: ZRFY, HBSI, CGRA, IVRO, GMGZ

Every day, millions of investors flock to the OTC Markets to discover the stocks that may make their fortunes. However, there is no substitute for diligent research before diving headfirst into the market. This article is going to provide you with a closer look at five OTC-listed stocks that could be worth tracking.

Zerify Inc. (OTC:ZRFY) Zerify Inc. has been involved in the cybersecurity space for more than two decades, and currently, it is best known for its Secure Videoconferencing solution. On Wednesday, the company noted that the terms of service had been updated by its peer, Zoom.

The changes in terms had sparked considerable consternation among privacy advocates, users, and experts. The company asserted that such concerns could result in the migration of business towards Zerify. Mark L. Kay, the Chief Executive Officer of the company, noted that the changes to Sections 10.2 and 10.3 in Zoom’s terms of service were the ones causing concern. Those changes would allow Zoom to utilize and store service-generated data from its users. The range of data that could be compiled includes diagnostic data, telemetry data, product usage data, and others.

In effect, Zoom could share, process, and store such data. In the terms, Zoom noted that the data could be modified, distributed, stored, and shared for “any purpose, to the extent and in the manner permitted under applicable law”. Kay went on to note that Zerify would keep the sensitive information of its users secure and safe.

Highlands Bankshares Inc. (OTC:HBSI) This week, Highlands Bankshares Inc. announced its financial results for the half year ended June 30, 2023. The parent company of The Grant County Bank and Capon Valley Bank announced it had generated earnings of $1559,000, which worked out to $1.17 a share. In the prior-year period, the company recorded earnings of $2,106,000, which translated to earnings of $1.58 per share. Additionally, the board of directors of the company also declared a quarterly dividend to the tune of $0.45 a share on July 11.

All shareholders of record as of July 28, 2023, were entitled to the dividends, which were disbursed on August 4, 2023. The company’s current dividend yield is 4.29%. As of June 30, 2023, the total assets of the company stood at $531,675,000, a significant rise from the total assets of $4,253,000 as of December 31, 2022. The Chief Executive Officer and Chairman of the Company, Jack H. Walters, noted that everyone at the company was pleased to have delivered a $0.45 per share dividend to its shareholders.

CGrowth Capital Inc. (OTC:CGRA): The public holding company CGrowth Capital Inc. is focused on undervalued and alternative assets. It is not involved in a specific industry but instead looks for opportunities. Currently, the company consists of sports technology and mining divisions. The company is mainly interested in opportunities with potential for growth and those that it can grow through its expertise and capital.

Yesterday, the company announced that it had expanded its sports division internationally with a functional fitness subsidiary, Savage Barbell, in the concluding phase of bagging a major contract with a large retailer in Europe. It was a major new development for the brand since it would be offered by a household retail brand in Europe starting in the fourth quarter of 2023. The launch had been timed to coincide with the potentially promising Christmas market.

InVitro International (OTC:IVRO) InVitro International has been a pioneer in the development and marketing of animal-free testing procedures for the past 38 years. On Wednesday, the company announced that in the fiscal third quarter, it had generated sales to the tune of $199,885, which was 16% lower than the sales figure in the prior year quarter.

That being said, the company managed to limit its losses to $13,162, which was 58% lower than the prior-year period loss of $28,938. The losses in the financial year to date stood at $47,482; however, they also included the costs related to a proposed merger. The sales generated by the company in the year to date stood at $608195, and that proved to be a decline of 10.8% from the corresponding period in 2022.

Genuine Marketing Group Inc. (OTC:GMGZ) Yesterday, Genuine Marketing Group Inc. announced that it had entered into an agreement with Ignite Dispensary Distribution LLC. As per the terms of the agreement, Ignite would be the beta test partner for the ZPTAG cannabis product from the company.

The test is scheduled to commence at some point in the fall or winter of this year. The product would be on display at the retail locations of Ignite Dispensary in Wisconsin. The aim of the beta test would be for Genuine Marketing Group to build transparency and trust for the product in the industry.