Penny Stock Watchlist: ALKM, NSAV, ELTP, VPLM, ECGI

Penny stocks may require a degree of risk appetite on the part of investors but these stocks also offer the potential of delivering significant gains. However, it is also important for investors to do their research diligently so that they can identify stocks worth tracking. Here is a look at some penny stocks which could be worth adding to the watch lists.

Alkame Holdings Inc (OTC:ALKM) – Given the fact that this past Friday the Alkame Holdings Inc stock soared by as much as 20%, it may be a good time to take a closer look into it. On June 28 the company had come into the news cycle after it announced that West Coast Co Packer Inc, its fully owned subsidiary was preparing to pack its seventh straight year of farm-to-jar blueberries for the purpose of export to Japan.

July is designated as the National Blueberry Month and West Coast Co Packer Inc was working on preparing its facility so as to manage the delivery of thousands of pounds of blueberries that would be sent by farmers. West Coast Co-Packer also had plans to start the production of farm-to-jar battling from July 17. The company would be packing the blueberries for Pacific Flavor Intl. The Chief Executive Officer of Alkame Holdings Robert Eakle spoke about the matter as well. He noted that he had always been impressed with the capability of Pacific Flavor Intl to procure the highest quality blueberries in the Pacific Northwest.

Net Savings Link Inc (OTC:NSAV) – The blockchain, cryptocurrency, and digital asset technology firm was one of the notable penny stock movers last Friday. As investors flocked to the stock, it soared by as much as 13% and could be primed to be in focus this week too. However, there was no news about the company which could have triggered such a rally. The last major news from New Savings Link Inc emerged in October last year. At the time the company announced that it had inked a definitive acquisition agreement with the firm AWC Centralized Cryptocurrency Exchange (AWC).

At the time AWC boasted of a dollar value deposit of $1,500,000,000 and 2000 active wallet traders. The management AWC also noted that once it hits 5000 active wallet traders and it the average daily value of the trading touches $100, then the monthly income could touch $15,000,000.

The projections also revealed that it acquired 10000 users and the average daily trading for each user was $250 then the estimated monthly income could be as much as $7,500,000. The management in charge of AWC at the time were going to continue to operate the exchange so as to ensure continuity.

Elite Pharmaceuticals Inc (OTC:ELTP) – The specialty pharmaceutical company is involved in the development and distribution of niche generic products. The company manufactures and develops orally administered controlled-release products. The company owns a number of generic products and some of those licensed to TAVI Pharma and Prasco LLC. Elite operates a DEA and cGMP registered facility in Northvale for the purposes of research, development and manufacturing.

Last Friday the Elite Pharma stock was one of the notable gainers as it ended the day with gains of 7% and could well be worth tracking this week. On June 30, the company announced its financial results for the fiscal year that ended on March 31, 2023. The total revenues for the fiscal year came in at $34.2 million, which worked out to a rise of 5.9% from the previous fiscal year. The operating profits stood at $3.7 million; however, that reflected a decline of $1.4 million from the previous fiscal year.

The net income for Elite Pharma during the fiscal year was $3.6 million. The decline in the company’s operating profits had mainly been brought about by a rise in research and development expenses as well as investment in a new sales and distribution entity.

VoIP-Pal.com Inc (OTC:VPLM) – The company, which is based out of Waco, Texas, owns a patent portfolio related to voice-over internet protocol technology or VoIP. It is currently looking to monetize that portfolio and on Friday the stock came into focus among investors.

Consequently, the VoIP-Pal.com Inc stock went up by 5% for the day. On June 26 the company had come into focus after it provided a legal update with regard the developments in its patent litigation. The company revealed that at a hearing that had been held on June 12, the court granted VoIP-Pal.com’s motion for the reconsideration of the final construction of the expression ‘routing message’.

The company also revealed that it had filed a stipulation for dismissing its lawsuit in the Western District of Texas against Samsung. Since the stipulations that led to the dismissal of the lawsuits against Twitter, Google and Facebook in the Northern District of California, the pending motions on the pleadings against three specific patents had also been denied as moot. Emil Malak, the company’s Chief Executive Officer, noted that everyone at the company was pleased with having been able to conclude the case in California.

ECGI Holdings Inc (OTC:ECGI) – The company, which seeks to do business as Elite Cannabis Group, is working on reorganizing as an acquisition focussed entity. It seeks to target cannabis assets in California that may be distressed or undercapitalized. It would also look into acquiring properties zoned for cannabis processing and cultivation and cannabis firms with the potential for national expansion.

On June 1, ECGI Holdings Inc announced that it had closed the acquisition of East West Pharma Group Inc. East West Pharma was registered as a Wyoming corporation and boasted of experienced personnel as well as specialized equipment. On February 16, 2023, the company made the announcement with regard to a definitive agreement between the two parties.

The acquisition includes specialized equipment which had been customized for processing very large amounts of industrial hemp. It could process industrial hemp to the volume of 500 pounds an hour.