The record has been set for 2013 for which the penny stock of The X-Change Corporation (OTC: XCHC) needs to beat after gaining over 175% since Wednesday. Shares traded bullishly on Friday, setting the bar, the HOD, at 0.145 before retreating around 2 o’clock and continuing on the gains since the December low of 0.025. While XCHC stock wasnn’t the flashiest rock ‘n roller out there on the markets prior to their deal with Cannabis Science Inc. (OTC: CBIS) in December, the fact that they’re testing their hemp-based Phytiva brand of products is a solid enough sign to keep watching them closely.
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XCHC Stock Chart
Market Cap: 4.18M
Last: 0.116 ▲ 0.0415 (55.70%)
Dollar Volume: $223,483
Issued and Outstanding: 36,036,147
14-Day Rel Strength: 62.09%
14-Day Stochastic: 68.78%
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The X-Change Corporation has tried to accomplish a number of things in the past, none of which have ever produced a penny in revenues including their ventures into the music and entertainment business or anything from their 2012 agreement to acquire roughly 21,111 net acres of mineral interests in return for approximately $15 million.
Now that, in early December, the Company issued 5 million shares of XCHC stock for the rights to license and sell marijuana in a bottle, the green has been flowing to shareholders — 480% worth of green at the HOD on Friday.
Firstly, the OS for XCHC is ridiculously small for having been around for so long, much of which is due to the 1-for-20 reverse stock split effectuated back in 2010. What is quite exciting from a PR bingo players POV is that they have something that has something to do something with marijuana/ hemp products which means they follow the flow when the rest of them run.
On December 12, 2012 when XCHC was trading at 0.025, The X-Change Corp. entered into an Asset Purchase Agreement with Cannabis Science, Inc. to acquire its rights and interest in the Joint Venture Operating Agreement (“JVOA”) with dupetit Natural Products GmbH for total consideration of $175,000, including 5,000,000 common shares in the Company with a fair market value of $150,000 plus the assumption of up to $25,000 in liabilities.
Additionally, Robert Kane, a registered representative for Stifel Nicolaus & Co. from November 2008 to December 2009, President of Cannabis Consulting, Inc. from January 2010 to February 2011 and VP of IR for Cannabis Science, Inc. from September 2011 to present, was appointed Director and President of the Company.
Under the JVOA, the Company has acquired a 90% interest in all products, brands and trademarks in dupetit Natural Products GmbH and an equivalent participation in net operating profits worldwide. Now all they need to do is sell some of the all natural, organic, bio-hemp health, beauty, and cosmetic products and get the testing done on the Phytiva products.
One thing for sure is they can PR all they want, those products will never ever make it into Southeast Asia where, other than Cambodia, Marijuana is an unbailable offense with life in prison in many of the countries in the region — trust me, I know.
About XCHC Stock
The X-Change Corporation is kinda hard to explain due to the nature of them x-changing their corporate direction ever six month. Click here to view the SEC filings for XCHC.
Last 5 Trading Sessions:
Bottom Line: XCHC is gaining on the momentum other marijuana focused penny stocks creating. When one runs, they all run, like a flock of swallows that turn over open waters for no apparent reason. Keep a close eye on XCHC stock for dips to look for entry points since its gonna run every time the others do.
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