Top 5 OTC-BB and Pinksheets Market Movers
Spongetech Delivery Systems, Inc. (SPNG), Artfest International, Inc. (ARTI), International Aerospace Enterprises, Inc. (IARO), Yuhe International, Inc. (YUII), and Oragenics, Inc. (ORNI) were among today’s top movers.
Spongetech Delivery Systems, Inc. [[SPNG.OB]], a manufacturer of various cleaning products, surged more than 10 percent higher after it announced $18 million in new orders for the month of June. This marks its highest recorded monthly booked orders in the company’s history, as investors see continuing momentum going forward with each new product release.
Artfest International, Inc. [[ARTI.OB]], a development-stage company that sells prints and paintings, jumped more than 70 percent amid working to establish the worldwide gold standard for how art and collectibles are marketed, tracked and valued through its RFID technology. The company began promoting this technology, and investors are excited about the prospects.
International Aerospace Enterprises, Inc. [[IARO.OB]], a provider of low-cost airplane parts, announced that it was awarded a $750,000 contract by the Egyptian Air Force for its low-cost parts. Management said in a press release that this was just the beginning of some $13 million in interest for its products around the world, and investors applauded the news.
Yuhe International, Inc. [[YUII.OB]], a supplier of day old chickens raised for meat production, rose more than four percent after Rodman & Renshaw initiated coverage on the company with a Market Outperform and a price target of $7.00. According to the analyst, “Yuhe International is a growth orientated investment opportunity focused on both China and the agricultural sector.”
Oragenics, Inc. [[ORNI.OB]], a biopharmaceuticals company focused on the commercialization of various drugs, surged more than 300 percent after it announced $5 million in new financing and changes in its board of directors and management. The move could dilute shareholders, but will keep the company alive and kicking for awhile to come and shareholders applauded the move.
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