The different tiers of the OTC markets attract a lot of attention on a daily basis, and investors who put in the right amount of research can also unearth some gems every day. Here is a closer look at four OTC-listed American stocks that have been in the news lately.
Catheter Precision Inc. (NYSE American:VTAK) On August 18, the company announced that it had changed its name to the present one, Ra Medical Systems Inc. Additionally, Catheter Precision Inc. also announced that the sticker symbol would also be changed to VTAK. The new ticker symbol is also an anachronism for ventricular tachyarrhythmia.
The company is currently well-known for its product VIVO, which has been approved by the United States Food and Drug Administration. On August 14, the company announced that it had received notification for the allowance of the first patent for its medical device, LockeT. It was part of a group of six patent applications in the United States and in overseas territories like China, the European Community, and Japan.
Intelligent Bio Solutions Inc. (NASDAQ:INBS): The medical technology company is best known for providing fast, non-invasive, and intelligent testing solutions. Yesterday, Intelligent Bio Solutions announced its financial results for the fourth quarter and the fiscal year ended on June 30, 2023.
The total revenues and government support went up by as much as 355% to hit $1.99 million. The significant rise was brought about by the acquisition of IFB in October last year. The net loss went up to $10.6 million from $8.3 million in the previous fiscal year. At the end of the period, it reported cash and cash equivalents to the tune of $1.5 million.
Kaival Brands Innovations Group Inc. (NASDAQ:KAVL) On August 17, the company, which distributes BIDI Stick ENDS (electronic nicotine delivery systems), made a key announcement. Kaival Brands Innovations Group Inc. announced that Kaival Brands International LLC, its fully owned subsidiary, had amended its agreement with Phillip Morris International Inc. affiliate Philip Morris Products SA.
Its Chief Executive Officer, Eric Mosser, noted that the amendment would help in saving costs to the tune of $2.7 million through the course of the agreement. The company also expected a reconciliation payment of around $135,000. It also projected extra royalties of around $300,000.
Halberd Corporation (OTC:HALB) This week, the company announced that Mississippi State University had completed the collection of tissue samples from a number of its planned test subjects. It pertains to the research into Halberd Corporation’s patent-pending nasal spray for mitigating the effects of traumatic brain injury. The analysis of the tissue samples would proceed and then be examined so as to quantify the markers related to brain damage.
Sibannac Inc. (OTC:SNNC) On August 22, the company announced the appointment of Karl Gottschalk as a new Chief Executive Officer (CEO) for its subsidiary unit, Immersive Brand Concepts. The Oklahoma-based subsidiary unit is an advanced wellness company that specializes in the distribution and design of a range of all-natural products.
It boasts a significant and still expanding line of products, which includes products like Kratom Energy, Immunity, Organic Health, and Hangover Prevention. The company’s new CEO had held a number of executive positions prior to this appointment, and during all those tenures, he demonstrated his leadership qualities. He had also been responsible for delivering impressive results. He had been the National Director at Jeeter/Dreamfields, and his decision to introduce automation had resulted in a considerable reduction in labor costs.