Gold Standard Mining Corp (OTC: GSTP), HASCO Medical (OTCBB: HASC) and Axion International Holdings (OTC: AXIH) are three small cap OTC stocks that had “news” or corporate achievements to announce last week. Specifically, GSTP announced that they have an agreement to explore for minerals in the wilds of Russia, HASC has a new agreement with GE Healthcare to finance its mobility products and AXIH has a new JV to tap into the $8 billion global railroad tie market but its stock remains caught in a downtrend. And while there is nothing wrong with small cap OTC stocks toting their achievements, its also important to remember that just one news release from an OTC stock like GSTP, HASC and AXIH can send shares skyrocketing. Hence, here is a closer look at all three to help you decide whether their recent “news” announcements mean that any of them warrant a closer look:

Gold Standard Mining Corp (OTC: GSTP): Seeking Gold in the Wilds of Russia

Gold Standard Mining Corp, formerly known as Fluid Solutions, is a development-stage mining company focused on exploring for minerals in Russia. At the end of last week, Gold Standard Mining Corp announced an agreement with GPK Umlekan for the exploration of gold, copper and other mineral deposits in the Eastern Umlekan Ore Node in the Zeya Zone in the Amur region of Russia. GSTP will produce a “bankable feasibility study” (BFS) and then have three options for future participation in any mining project. On Friday, Gold Standard Mining Corp fell 12% to $0.110 (GSTP has a 52 week trading range of $0.06 to $2.15 a share). It should be noted that in earlier press releases, Gold Standard Mining Corp pointed out that the United States Geological Survey (USGS) estimates that Russia has the world’s third most extensive gold resources, the country has attracted attracted international mining companies (such as Kinross, Petropavlovsk, Highland Gold Mining, High River Gold Mines, Barrick Gold Corp., Phelps Dodge Corp., Polyus Gold and Polymetal) and the Amur Region is considered to be one of the most proficient mining regions in country. On the other hand, the press releases make no mention of jailed tycoon Mikhail Khodorkovsky, British Petroleum’s Russia problems and other examples of how Russia appears to often lack the rule of law.

HASCO Medical (OTCBB: HASC) Inks an Agreement with GE Capital

HASCO Medical is a managed healthcare provider serving patients in Alabama, Florida and Mississippi by providing home respiratory equipment, durable medical equipment and the rental or sale of wheelchair accessible vans for which the company provides custom conversion services. At the end of last week, HASCO Medical announced that they have an agreement with GE Capital to serve as its floor plan financier for both Braun and VMI vehicles at all of its dealerships. On Friday, HASCO Medical fell 6.25% to $0.03 (HASC has a 52 week trading range of $0.01 to $0.05 a share). It should be noted that HASCO Medical had only finished acquiring Mobility Freedom Inc. (which had grown from $500,000 in sales in its first year of operation to over $10 million in 2010) and Wheelchair Vans of America back in May and on the surface, the mobility industry seems like it would be a growth industry as our population ages and lives longer.

Axion International Holdings (OTC: AXIH) Inks a New JV But is Caught in a Downtrend

Axion International Holdings is the licensee of technologies that are used for the production of railroad ties and other industrial building products. At the end of last week, Axion International Holdings announced a non-binding letter of intent for a new global joint venture with Sicut Holding Limited to capitalize on the $8 billion worldwide railroad tie market (both companies are licensees of Rutgers University technology). On Friday, Axion International Holdings fell 5.74% to $1.15 (AXIH has a 52 week trading range of $0.75 to $2.10 a share). However, investors should note that Axion International Holdings’ stock has been bouncy lately and appears to be caught in a downtrend. Specifically, its share price fell 3.4% last week and 11.5% in the last month. Moreover and in mid-May, Axion International Holdings reported revenues of $191,000 for 1Q2011 verses $403,000 for 1Q2010 and a net loss of $1.9 million verses a net loss of $1.7 million.

The bottom line: GSTP is obviously a long way from striking it rich in the wilds of Russia while new investors might want to wait out the downtrend that AXIH is caught in but I would be interested in watching how HASC’s acquisitions of Mobility Freedom and Wheelchair Vans of America help the company perform as on the surface – the mobility industry seems like it would be a growth industry.