Small-Cap Stocks: Unseen Potential (FOXO, NNVC, CTNT, NVVE, LRHC)

11/12/20236 min read

Penny stocks frequently operate unnoticed, escaping the attention of many investors. Yet, within these seemingly inconspicuous equities, a realm of untapped potential and opportunity awaits exploration. In this watchlist, we take a deep dive into the universe of five penny stocks, illuminating their hidden potential and what factors that could possibly drive a rebound.

FOXO Technologies Inc. (NYSE American: FOXO) - FOXO Technologies Inc., a technology platform company, stands at the forefront of epigenetic biomarker discovery and commercialization. The company is dedicated to advancing longevity science through the development and provision of products and services spanning various industries. Utilizing AI in DNA methylation, FOXO's epigenetic technology identifies molecular biomarkers associated with human health and aging.

Last month, the company secured a provisional exclusive license from KR8 AI Inc. to utilize their KR8 AI Eco System and iOS/Android app for developing consumer health, wellness, and longevity apps. The agreement restricts app distribution to North America. Upon signing a definitive license agreement, KR8 is set to grant a non-provisional exclusive license with a perpetual term. Both parties aim to promptly finalize the definitive license agreement, covering customary terms and conditions, including deliverables, use restrictions, confidentiality, indemnification, insurance, choice of law, default conditions, rights, and remedies. Failure to finalize the agreement by November 15, 2023, triggers arbitration for unresolved issues.

I'd like to highlight that the company filed an S-1 last month. This prospectus pertains to the potential offering and resale, at various times, by ClearThink Capital Partners, LLC ("ClearThink"), Mitchell Silberberg & Knupp LLP ("MSK"), and Joseph Gunnar & Co., LLC ("JGUN"), or their authorized transferees (collectively, the "Selling Stockholders"), of up to 23,601,340 shares of Class A common stock with a par value of $0.0001 per share. We'll closely monitor the company's share price, currently trading around $0.35, for any upward movement given the limited float.


NanoViricides, Inc. (NYSE American: NNVC) - NanoViricides, Inc. is a developing company specializing in nanomaterials for antiviral therapy. Our nanoviricide® drugs target and dismantle enveloped virus particles. The lead candidate, NV-CoV-2 (API NV-387), addresses COVID-19 caused by SARS-CoV-2 and is in Phase 1a/1b clinical trials through our collaborator Karveer Meditech, Pvt. Ltd., India. Another advanced candidate, NV-HHV-1, focuses on Shingles treatment. Due to various factors, including external collaborators and consultants, we can't provide an exact IND filing date for our drugs.

Last month, we reported a cash and cash equivalent balance of about $8.15 million as of June 30, 2023, with net property and equipment assets of approximately $8.1 million. Our robust assets include a cGMP-capable facility in Shelton, CT. Current liabilities stand at around $0.53 million. In comparison, as of June 30, 2022, we held approximately $14.4 million in cash, $8.7 million in net property and equipment assets, and total current liabilities of about $0.41 million. Despite limited resources, we estimate sufficient funds to complete ongoing human clinical trials for our lead drug candidate NV-CoV-2. This drug, based on our "nanoviricide" active pharmaceutical ingredient (API) NV-387, has shown high effectiveness in preclinical studies against a lethal lung infection by RSV. We anticipate progressing to Phase 2 clinical studies for RSV following the completion of Phase 1 studies. Our achievements in advancing nanoviricide drug development, particularly entering human clinical trials, mark a significant milestone for NanoViricides, Inc. Going forward, we plan to pursue both non-dilutive and equity-based funding to support our continued progress in this groundbreaking endeavor.

Lately, the company's stock has experienced lows slightly above $1. We will closely watch the stock for potential consolidation within this range or any signs of unusual trading volume.


Cheetah Net Supply Chain Service Inc. (NASDAQ: CTNT) - Cheetah Net specializes in sourcing and supplying parallel-import vehicles from the U.S. to the Chinese market. In China, parallel imports involve vehicles purchased directly from overseas markets by dealers and sold through channels outside official manufacturer distribution systems. The company focuses on luxury brands like Mercedes, BMW, Porsche, Lexus, and Bentley, procuring them from the U.S. and selling to both U.S. and Chinese parallel-import car dealers. Profits are generated through the price difference between the company's buying and selling prices for parallel-import vehicles, with no known legal restrictions on export.

This month, the company released its results for the three and nine-month periods ending September 30, 2023. Chairman and CEO Tony Liu emphasized the company's sustained focus on high-demand parallel-import vehicles, maintaining attractive selling margins despite challenges in the Chinese market. Despite economic challenges, the company remains committed to its strategy of concentrating on higher-priced U.S. automobile models, managing the spread between procurement and selling prices for optimal profits. The stock is currently trading just above $1, and with its IPO in August at $4, especially considering its lower float, we will closely monitor for potential rebound opportunities.


Nuvve Holding Corp. (NASDAQ: NVVE) - Nuvve Holding Corp. has pioneered a proprietary vehicle-to-grid (V2G) technology, featuring its Grid Integrated Vehicle ("GIVe™") cloud-based software platform. This technology connects multiple electric vehicle ("EV") batteries to form a virtual power plant, offering bidirectional energy to the electrical grid securely. Nuvve utilizes advanced V2G technology and a network of electrification partners to dynamically manage power between EV batteries and the grid, bringing added value to EV owners, promoting EV adoption, and contributing to the global shift toward clean energy. Nuvve's products transform EVs into mobile energy storage assets, fostering grid resilience, sustainable transportation, and energy equity in an electrified world.

This month, Nuvve reported a Q3 2023 update, anticipating a revenue increase of over 50% this year. CEO Gregory Poilasne highlighted improved orders, sales, and deployments of charging stations connected to their GIVe™ V2G software platform, along with enhanced grid service revenues. Despite challenging capital markets, the company remains committed to cost reduction and exploring funding options for sustained innovation and growth. Notably, Nuvve closed a registered direct offering last month, selling 13,772,940 shares at $0.15 each. As of last week, the stock closed at $0.16, prompting us to closely monitor for the price per share to level out and consolidate at bottom for a potential rebound.


La Rosa Holdings Corp. (NASDAQ: LRHC) - La Rosa is a holding company for seven technology-driven real estate firms, offering residential and commercial brokerage services. Additionally, it cross-sells tech-based products to its agents and franchisees. La Rosa's business focuses on internal services such as real estate brokerage, franchising, education, coaching, and property management.

This month, the company announced a strategic referral partnership with Janover Inc. (Nasdaq: JNVR), an AI-enabled B2B fintech marketplace connecting commercial property borrowers and lenders. Janover's online commercial loan platform will introduce La Rosa to clients in need of commercial real estate brokers, potentially creating a new revenue stream for La Rosa's brokers and the company. With a small float and shares closing under $1 last week, we'll closely monitor the stock, especially considering the recent IPO at $5.

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