In the world of investing, staying informed is crucial for making well-informed decisions. Company news and press releases serve as vital sources of information, providing investors with valuable insights into the activities, developments, and growth prospects of various companies.
For OTC stocks, where companies may be smaller and lesser-known, press releases serve as essential communication tools to inform investors about their progress, expansion plans, and market opportunities.
Now, let's turn our attention to four stocks priced under 20 cents on the OTC exchange and explore their recent key announcements.
CuraScientific Corporation (OTC: CSTF)
CSTF is an alternative lifestyle company that has been making significant strides in the cannabis and kava industries. With a focus on manufacturing, distributing, and delivering natural-based cannabis and kava products, CuraScientific aims to provide consumers seeking healthier choices with effective solutions for stress and anxiety relief.
In a press release from July 12, CuraScientific announced that they are actively engaged in negotiations with major farms to manufacture their own brand of kava extract. This development comes on the heels of the company's successful grand opening of its Palm Desert-Southern California Kava Bar earlier this month. Additionally, preparations are underway to open another Kava Bar in Las Vegas, Nevada, this Fall. With the planned construction of 30 Kava Bars and the retail sale of kava extract over the next five years, CuraScientific aims to tap into the thriving global kava root extract market, projected to reach $3.41 billion by 2029.
William Reed, Chairman and CEO of CuraScientific, said, “We currently manufacture the kava Liquid Delivery method because a liquid delivery method with its long history of use and rapid absorption is preferable. Especially with kava, liquid delivery matches a long traditional history of use. Also, liquids are easy to take and don't require you to swallow another pill. Finally, it is a reminder to stay hydrated!” Reed then highlights the rising popularity of kava, a beverage known for its relaxation properties, and the increasing demand for kava bars as social spaces where non-drinkers can gather and enjoy an alternative to alcohol.
CuraScientific's growth strategy extends beyond the kava market. The company's acquisition of JW Brands and Chad Enterprises has strengthened its presence in the cannabis industry, allowing its subsidiary, Cal Care Group, Inc., to manufacture, deliver, and distribute cannabis products throughout California. With negotiations underway for further acquisitions in Orange County and Los Angeles County, CuraScientific aims to expand its customer base and distribution channels, leveraging the socially acceptable status of cannabis use in these areas.
The company's financial performance is also noteworthy. The unaudited financial data for Cal Care Group reflects robust revenues of $284,132.25 for Q4 2022 and $354,484.00 for Q1 2023. The projected sales for Q2 2023 are expected to reach approximately $500,000. These figures, along with the ongoing expansion efforts, could indicate CuraScientific's commitment to driving revenue growth and creating value for its investors.
CytoDyn Inc. (OTC: CYDY) is a clinical-stage biotechnology company focused on the development and commercialization of leronlimab, an investigational humanized IgG4 monoclonal antibody (mAb).
Leronlimab is designed to bind to C-C chemokine receptor type 5 (CCR5), a protein found on the surface of certain immune system cells that is believed to play a role in various disease processes. CYDY is conducting studies on leronlimab in multiple therapeutic areas, including infectious disease, cancer, and autoimmune conditions.
On July 12, CytoDyn announced updates regarding its ongoing litigation against Amarex Clinical Research LLC (Amarex), the company's former Contract Research Organization (CRO). The company has filed a supplemental Statement of Claim and requested a hearing date in the arbitration proceeding with the American Arbitration Association. The claim alleges that Amarex failed to fulfill its obligations and services under the master services agreement and work orders, including inadequate performance and billing for unperformed services. CytoDyn seeks to recover damages and legal fees exceeding $100 million if successful at the final hearing.
Furthermore, Dr. Cyrus Arman has returned to CytoDyn as Senior Vice President of Business Operations following a medical leave of absence. As the company searches for a new President and/or Chief Executive Officer, Antonio Migliarese, the Chief Financial Officer, will continue to serve as interim President. The leadership team is determined to hold Amarex accountable for the damages incurred and is confident in the company's claims, backed by independent and FDA audits and regulatory actions against Amarex.
The progress made in the legal proceedings against Amarex builds on the momentum gained from a previous favorable ruling by the U.S. District Court for the District of Maryland. CytoDyn's dedication to pursuing recovery and maximizing compensation reflects the company's commitment to protecting its interests and seeking justice.
Dr. Arman expressed enthusiasm about returning to CytoDyn, emphasizing his belief in the potential of leronlimab and his commitment to supporting the company's development efforts. Tanya Urbach, Board Chair, praised the collective expertise of the leadership team, highlighting their regulatory, clinical, and industry knowledge. While the search for a new President and/or CEO is underway, the current team is well-equipped to steer the company forward.
Imperalis Holding Corp. (OTC: IMHC), operating as TurnOnGreen, is a provider of innovative power products and is making waves in the mission-critical applications sector across various industries. The company's commitment to delivering top-quality solutions has earned it a reputation for excellence in the market.
Based in Milpitas, CA, TurnOnGreen brings decades of experience to every project, collaborating closely with clients to design and manufacture cutting-edge power products that meet their specific needs. Their expertise spans multiple sectors, including defense and aerospace, medical and healthcare, industrial, telecommunications, and e-Mobility.
In a recent press release, TurnOnGreen announced their successful nationwide electric vehicle (EV) charging station deployment in collaboration with North American Vehicle Services (NAVS) and Page One Automotive. This strategic partnership aims to create a well-connected charging infrastructure across the United States, supporting the needs of automotive service industry leaders. By actively installing numerous EVP1100 Level 2 EV chargers at 14 strategic locations, TurnOnGreen is boosting industry sustainability and driving the widespread adoption of EVs.
Marcus Charuvastra, President of TurnOnGreen, expressed enthusiasm for the collaboration, stating, "Our growth strategy is heavily focused on delivering tailored fleet management charging solutions to fleets of all sizes across North America." With scalable EV charging solutions, advanced management software, and network services, TurnOnGreen empowers municipalities, businesses, and homeowners to monetize, track, and report EV charger usage.
TurnOnGreen's commitment to sustainability, innovation, and customer service positions them favorably in the market, opening doors for mutually beneficial strategic partnerships. With the global electric commercial vehicle market projected to reach $558 billion by 2031, TurnOnGreen is well-positioned to capitalize on the growing demand and drive the transition towards a greener future.
Barrel Energy Inc. (OTC: BRLL) is a leading player in the green energy and battery minerals sectors, dedicated to rapid development and valuable production opportunities in North America and beyond. With a focus on the electric vehicle (EV) industry, the company holds joint venture agreements to advance technologies and processes for EV batteries.
In recent news, Barrel Energy announced significant soil geochemical sampling results from its Titan X lithium property in Tanzania. The Titan X project is strategically located adjacent to the Titan 1 project of Titan Lithium Inc., within a lithium-rich rift valley in the East African Rift.
During the second phase of soil geochemical work, samples were collected approximately 2.5 miles south of the northern claim boundary. The results revealed positive lithium geochemical values averaging 3,985 ppm lithium over a sampled area of approximately 2,400 acres. The highest value in the new sample set reached 11,600 ppm Li (2.5% Li2O), indicating the presence of promising lithium resources.
Craig Alford, CEO of Barrel Energy, expressed enthusiasm about the extended lithium anomaly to the south, highlighting the company's plans to conduct additional sampling in the western area where the highest grades have been observed so far.
Barrel Energy's exploration plan for 2023 includes an extensive exploration program aimed at identifying top-tier lithium targets to support the zero-carbon economy. The company's success in soil geochemistry, as demonstrated in the southwestern United States, further bolsters the potential of the Titan X project.
The acquisition of the Titan X property, made for $1 million, has positioned Barrel Energy for significant growth potential. Harp Sangha, Chairman of Barrel, emphasized the exceptional results returned from the Titan Projects, expressing optimism about the planned work potentially leading to one of the largest lithium finds worldwide.
These developments showcase Barrel Energy's commitment to the green energy sector and its pursuit of valuable lithium resources, positioning the company as a key player in the evolving EV market.
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