Penny stocks, with their potential for rapid gains over a short period, often pique the interest of investors. In this article, we'll delve into four penny stocks, each priced under $0.02, that show promise for substantial growth.
Epazz Inc. (OTC:EPAZ), a prominent cloud-based software company, is eyeing new revenue streams as it makes impressive strides in the fields of drone technology and smart glasses. Under its unit, ZenaDrone, Epazz is enhancing unmanned aerial vehicle technology with machine learning and artificial intelligence. This technology has attracted substantial interest, even from the U.S. military, as the company explores global opportunities.
A significant milestone was reached on September 14, 2023, when Epazz unveiled the ZD1000 drone. This drone boasts advanced artificial intelligence capabilities and is designed for surveying and inspecting large-scale supply chain warehouses and facilities.
CEO Shaun Passley said, "There are several government contract opportunities we are working towards, and we are resolving the remaining issues by opening up drone component sourcing and manufacturing operations in Taipei, Taiwan." Epazz plans to introduce next-generation drone technology featuring sophisticated algorithms for automated piloting and AI analytics.
Epazz is not only expanding its presence in Taiwan through partnerships with supply chain vendors but has also been invited to showcase its drone capabilities to the U.S. Department of Defense in North Carolina. These opportunities highlight the growing demand for government contracts.
The company's efforts have already garnered interest from the U.S. Department of Homeland Security, signaling the potential use of their drones in pilot programs. Epazz is working on signing a pilot program with the U.S. Air Force, having received a letter of support.
Strong demand for the ZenaDrone 1000 drone in the U.S., particularly from government agencies, has led to plans for an affordable, made-in-America drone with a substantial payload. Epazz is also in the process of engaging several U.S. government agencies as pilot customers. The company expects these new revenue streams to complement its existing software products, following a successful second quarter with increased revenue and EBITDA driven by high demand for cloud business software products powered by artificial intelligence.
HUMBL Inc. (OTC:HMBL) offers a diverse range of product lines, including HUMBL Wallet, HUMBL Social, HUMBL Search Engine, HUMBL Tickets, and HUMBL Marketplace, among others. On August 31, the company announced an expansion of its partnership with Pacific Lion, its strategic funding partner, demonstrating Pacific Lion's commitment to HUMBL's growth.
Pacific Lion increased its funding commitment to HUMBL, strengthening the company's financial foundation ahead of its Reg A offering. The partnership also provided valuable assistance, including SEC counsel referrals and introductions to executives at the New York Stock Exchange.
This collaboration comes at a pivotal time in HUMBL's history, providing essential working capital as the company prepares for listing on a major exchange. HUMBL is actively working to meet stringent listing requirements set by major exchanges.
Genesis Electronics Group Inc. (OTC: GEGI) is pioneering the development of a groundbreaking road-to-rail autonomous shipping vehicle named Gliders. This project, operated through its fully owned subsidiary unit, Glid, enables fully loaded semi-trailers to access railway tracks, a feat previously unattainable.
However, Genesis Electronics faced a setback when the credit facility announced with 40 Brightwater LLC on September 13, 2023, was not funded as agreed upon. The agreement, which was supposed to provide $75,000 in funding, was terminated due to Brightwater's non-performance.
Genesis Electronics Group CEO Kevin Damoa stated, "We have worked patiently with 40 Brightwater for several months past their original promise date of funding, providing ample time for them to sort out their lending options via various lending platforms. Unfortunately, they were not able to deliver on the funding previously agreed upon."
This credit facility was crucial for financing operational costs, contractual obligations related to Glid, and the timely launch of the company's beta program. Despite exploring alternative investment options, including lenders and private investors, Genesis Electronics Group is actively seeking new sources of funding.
Institute of Biomedical Research Corp. (OTC: MRES) specializes in nutraceutical biotech, focusing on alternative plant-based cannabinoids (CBD), mental health therapeutic research, and medical psilocybin. Backed by artificial intelligence, the research conducted by this institute is at the forefront of scientific exploration.
On September 15, the institute hosted a webinar titled 'Pharmacology and Clinical Applications of CBD.' This event aimed to shed light on CBD, a compound that has garnered significant scientific and medical interest in recent years. While CBD has been studied extensively, there remains a lack of comprehensive information about its potential applications.
Professor Vishesh Maharaj, Deputy Dean of Research and Postgraduate Education at the Faculty of Natural and Agricultural Sciences at the University of Pretoria, provided a detailed exposition of CBD's chemical compounds and pharmacology. Dr. Skye Scott, a general physician with expertise in collective well-being and integrative medicine, also spoke at the webinar, emphasizing the need for more information about CBD's applications, especially in healthcare.
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