Penny Stocks News: TLSS, PGNT, GMZP, TMGLF, RGGI

Regardless of the category of stock one may be looking into, it is imperative to be abreast of the news, and the same goes for the time when one hunts for penny stocks. In recent days, there have been plenty of such stocks in the news. Here is a look at five of those.

Transportation and Logistics Systems Inc. (OTC:TLSS): Transportation and Logistics Systems Inc. operates through a number of fully owned subsidiary units. Those subsidiaries together offer a range of logistics and transportation services. Yesterday, the company announced that on August 11, 2023, it had filed its Form 10-Q Quarterly Report pertaining to the second fiscal quarter ended on June 30, 2023.

The company reported revenues of $5062000, which worked out to a year-on-year rise of as much as 204% from the revenues of $1405000 in the prior-year period. The company noted that the rise in revenues had been mainly brought about by the acquisitions of Freight Connection Inc., Severance Trucking Inc., and JFK Cartage Inc.

However, Transportation and Logistics Systems suffered a net loss from its operations to the tune of $255,000 in the quarter. In the prior-year period, the company’s net loss stood at $100,000. The Chief Executive Officer and Chairman of the Company, Sebastian Giordano, spoke about the performance as well. He noted that gross margins and revenues continued to rise year over year. He, however, acknowledged that the company also suffered from the downturn that affected the entire industry.

Paragon Technologies Inc. (OTC: PGNT) On Monday, Paragon Technologies Inc. was one of the companies that announced its financial results for the three- and six-month periods, both of which ended on June 30, 2023. The company generated net sales of $29,189,000 for the quarter, which was a lower figure than the net sales of $32,647,000 in the prior-year period.

The operating income generated by Paragon in the quarter came in at $149,2000, and that reflected an improvement on the operating income of $113,1000 in the prior-year period. In the half-year, net sales dropped to $58316000 from $71,275,000 in the prior-year period. The operating income in the half-year was $3,016,000 as opposed to $3,301,000 in the prior-year period.

The net income for the quarter went up to $1,014,000 from $378000 in the prior-year period. In the half year, the net income came in at $1721,000, compared to $1412,000 in the corresponding period in 2022.

GEMZ Corp. (OTC: GMZP)—BadgerBloX Homes Inc. is one of the leading players in the shipping container conversion solutions space. On Monday, it was in focus after it announced that it had completed the acquisition of a new production plant and headquarters in Gillett, Wisconsin. The acquisition had been a strategic one, and in its news release, the company noted that it was a major milestone in its quest to revolutionize the functional use of ship container space.

The company noted that under the guidance of its president, Chris Schrubey, it was intent on setting new standards in the areas of functionality and design so that shipping containers could be turned into sustainable, versatile, and affordable living and working spaces. The latest acquisition would help BadgerBloX Homes speed up its target of boosting production capabilities and elevate its turnkey production models to a new level altogether.

Tiger Minerals Ltd. (OTC: TMGLF) This morning, Tiger Minerals Ltd. announced a number of changes to its board and management as part of its transition strategy. Karen Peterson resigned from her position as Chief Executive Officer and Managing Director. She would step down from the board immediately and then complete a three-month notice period to ensure a smooth transition.

Bill Bent resigned from his position as a Non-Executive Director with immediate effect; however, he would serve the company as a technical advisor. Mike Ralston, the Chairman of the company, would take over the management of the company until a new executive team was put in place. Ralston had the support of the company secretary, directors, and external consultants of Tiger Minerals.

Resgreen Group International Inc. (OTC: RGGI) The next-generation mobile robot and software firm Resgreen Group International Inc. announced its financial results for the second fiscal quarter of 2023 yesterday. The headline figure was the gross profit of $180364, since it reflected a year-on-year rise of a staggering 973% from the year-ago period when the gross profit was $16803.

The Chief Executive Officer of the company, Parsh Patel, noted that the company had been able to clock ‘tremendous growth’ owing to contracts with a number of customers. The gross revenues generated by the company stood at $458,000, which was made up of the entirety of its outstanding contracts.