This coming weekend, dozens of men and women from around the world will be competing in Las Vegas for the Mr. and Ms. Olympia title, yet because 99.9% of Americans can tell you where the nearest drive-thru is and not the nearest gym, few will witness Phil Heath defend his title. This is unlikely the reason why Changing Technologies, Inc. (CHGT) decided to drop their pursuit of developing Apps focused on improving personal productivity and health and fitness monitoring and, instead, chose to enter into the $6 billion 3D printing market exactly one month after their 5 for 1 stock split. Considering how other penny stocks have been able to generate huge volume sessions when their tickers have been promoted, CHGT stock has officially landed on the list of those to start watching as we enter into the fall promotional season.
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CHGT Stock Quote
Market Cap: 85.05M
Last: 1.91 ▲ +0.01 (+0.53%)
Dollar Volume: $24,004
14-Day RSI: 47.21%
1st Resistance Point: 1.9367
1st Support Level: 1.8667
52Wk High: 5.20
52Wk Low: 0.60
Changing Technologies became an SEC filer a little more than a year ago when Matthew Egna filed the Company’s S1 when their plan was to sell our application offerings primarily through mobile application sales platforms, specifically the Apple App Store and Google Play store. The filing clearly stated that “As a result of our reliance on Mr. Egna, and his lack of experience in operating a public company, our investors are at risk in losing their entire investment” which proved to be a very true statement as CHGT stock has seen its share price decline while volume has increased over the last 6 weeks.
Egna was the sole shareholder of CHGT stock as of the last detailed filing, the S1/A, whereas he owned 9,000,000 pre-split shares, 45,000,000 post-split. The offer, per the S1 was to sell 3,000,000 pre-split shares for $0.01 per share which, times 5, makes up the other 15,000,000 shares, aka the float, which have a cost basis of $0.002 per share. The next filing due to be released, the 10K, will provide further details of just how much money has been borrowed in the form of convertible debt, since March 31, 2014.
What puts CHGT stock on the radar for a future promotion is not so much the last few months of PR indicating their entry into the 3D Printing sector, but moreso the connection of having Messineo & Co. CPAs, LLC as their CPA, coupled with the recent 5 for 1 stock split. The last few weeks have proven to be poor ones for anyone not owning those $0.002 shares of CHGT stock, but with September now in full swing and Alkame Holdings (ALKM) having survived a weekend without a suspension, things could soon begin to shape up, especially when the 10K filing comes in.
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About CHGT Stock
Changing Technologies, Inc. is a development stage, technology company that, through their recently created subsidiary, 6th Dimension Technologies, is focused on the booming 3D printing sector.
Issued and Outstanding: 60,000,000
Last 5 Trading Sessions:
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