Penny Stocks to Watch: HYEX, BHLL, RXMD, NLST, RVIV

Penny stocks command a major following among investors and for good reason. These stocks can sometimes help generate massive returns if the right one is picked. However, investors need to be aware of the market to make the right picks. Here is a look at five penny stocks that investors could consider tracking currently.

Healthy Extracts Inc. (OTC:HYEX): Healthy Extracts Inc. is one of the major players in the nutraceuticals industry and is involved in the acquisitions, development, marketing, patenting, and distribution of products. The company’s proprietary and patented products seek to serve some specific high-growth niches in the multibillion-dollar industry.

On Monday, the company announced its financial results for the three- and six-month periods, both of which ended on June 30, 2023. Revenues for the quarter went up 25% to hit $588,000, while revenues for the half year were $1.2 million and reflected a year-on-year rise of 29%. The cost of goods had gone down to $303,000, which worked out to a drop of 10% from the first fiscal quarter of 2023. The gross margin in the second quarter came in at 48.4%, which reflected an improvement on the gross margin of 45.2% in the prior-year quarter.

Healthy Extracts suffered a net loss of $1.3 million in the quarter, which worked out to $0 per basic and diluted share. The loss was mainly a function of the one-time costs related to the acquisition as well as costs related to a planned public offering and NASDAQ uplisting.

Bunker Hill Mining Corp. (OTC: BHLL) Yesterday, Bunker Hill Mining Corp. announced that its Chief Financial Officer, David Wiens, would be stepping down from his position to take up another opportunity. The company also announced in the same news release that it had appointed a new Chief Financial Officer in the form of Gerbrand Van Heerden. The new appointment would go into effect on October 14, 2023.

Wiens would continue to serve as the company’s CFO in the short term in order to ensure a seamless transition of personnel. The company noted that Van Heerden was a highly experienced mining sector CFO, a qualified CFA registered with the Chartered Professional Accountants of British Columbia, and a CA (SA) registered in South Africa. He holds a degree in Bachelor of Accounting (Honours) from the University of Johannesburg. Additionally, his experience in the mining industry spans more than 20 years.

Progressive Care Inc. (OTC: RXMD) — Customized healthcare services and technology provider Progressive Care Inc. announced its financial results for the second fiscal quarter ended June 30, 2023, yesterday. The company hit record quarterly revenues to the tune of $11.6 million, which reflected a rise of 16% from the revenues recorded in the prior-year period. The Chief Executive Officer and Chairman of the Company, Charles M. Fernandez, spoke about the performance as well.

He noted that in the past months the team at Progressive Care had been focused on building a strong financial foundation that could help in supporting continuous growth. The strong foundations would also help the company pursue opportunities in untapped spaces that Progressive Care identified in the healthcare and pharmacy industries. He went on to add that due to the efforts put in by the team, the company not only generated growth but also exterminated the convertible debt and boosted the available cash.

Netlist Inc. (OTC: NLST) The high-performance memory technology pioneer Netlist Inc. announced yesterday that it had made an entry into the Final Judgment case titled Netlist v. Samsung Electronics Co., Ltd., et al. at the United States District Court for the Eastern District of Texas. The Final judgment of the Court was upheld by the jury’s verdict delivered in April 2023. The jury confirmed that Samsung had deliberately infringed on the patented technologies of Netlist.

Chief Judge Gilstrap ordered that Netlist ought to receive as much as $303150000 in the form of a reasonable royalty due to the infringements by Samsung on the patents owned by Netlist. However, the order was for a limited past-damage period. Another case from the company against Samsung for infringements on another set of patents would go to trial in the U.S. District Court for the Eastern District of Texas in April next year.

Reviv3 Procare Company (OTC: RVIV) The emerging worldwide consumer products firm Reviv3 Procare Company announced yesterday that it had entered into a standard dealer agreement with Safeware Inc. The dealer agreement is for the sales of AXIL hearing protection and enhancement products.

As per the terms of the agreement, Safeware would be an authorized dealer for the products from Reviv3 Procare Company. Additionally, Safeware would also have the non-exclusive rights to make retail sales of the AXIL products through its customer support and national sales network.

Ian Leigh

Ian Leigh is a specialist in analyzing stocks, SEC and OTC filings, and financials of public and privately-held companies. He has played a significant role in M&A activity, consulting with publicly-held firms on acquisitions and divestitures. He also consults on valuations and branding. He lectures at major universities and teaches at specialty financial schools.