If possible, please state the type of information given, how frequently the newsletters are published, and how much it costs. Thank you in advance.
Investing in penny stocks is risky – it is easy to become the victim of a pump-and-dump scheme: Some newsletter writer (or internet spammer) buys penny stocks, tauts them to unsuspecting “clients”, these investors buy the stock, thereby driving up the stock price, which in turn allows the newsletter writer to make a profit. You most likely know all that, but still, have a look at the SEC’s web page and make sure that you are aware of all the different issues that arise with penny stocks: http://www.sec.gov/investor/pubs/microcapstock.htm
I personally would not trust a penny stock newletter, but if you have your mind set on it, check out http://pennystock.com/index.shtml
This newsletter costs $89 for two years, and the author, George Schlieben, encourages prospective clients to call him at 215-493-6783 (weekdays only between 10 a.m. and 5 p.m. Eastern Time). So consider giving him a call and see what you think.
Good luck!