Huh, we post in here when we are pretty certain. However, you are free to make your own research ... Start at Google , Wikipedia etc... all EZ to access :)
"The term "penny stock" generally refers to a security issued by a very small company that trades at less than $5 per share."
That said, I find that many investors think of penny stocks as stocks under $1. This thought is supported by things like ScottTrade (my broker) charging a premium for trading OTC stocks that are under $1.