Changing Technologies Inc (OTCBB:CHGT) is once again moving up off $0.60 as it did back in October. This is the new support level established since the fall from the stocks incredible highs of over $5 per share.
Changing Technologies Inc (OTCBB:CHGT) or as they like to say “ChangingTechno” – came to life in an era where personal performance and health data is driving a revolution of applications, information, and technology. ChangingTechno derived its purpose from the need to explore and offer apps primarily focused on improving personal and business productivity and health and fitness monitoring.
The iPhone industry and apps have boomed. This growing market opens unique opportunities to connect individuals with experiences that can improve the lifestyle and longevity. As of now there are over 1,250,000 approved apps in the app store making it a lucrative market for the smartphone users, developers, and brands. CHGT mission is simple – build apps that people will use and that companies can monetize.
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The Company is based in Texas with a team of industry-proven gurus made up of user-interface (UI) experts, certified project managers, user experience (UX) engineers, and skilled developers working under one banner: change the reality of smartphones into an engagement platform.
On October 16, CHGT announced in a rather fluffy pr ‘CHGT CEO Expects Retail Factor to Boost Thriving 3D Printer Materials and Services Market, Forecasts of $10 Billion – CHGT Omar T. Durham says the demand for 3D printer materials and services, a sector forecast to reach $10 billion by 2018, is likely to exceed expectations as the technology moves into the mainstream and becomes readily available to consumers in retail environments.
Mr. Durham went on to say “As more consumers and businesses become familiar with the cutting-edge advantages 3D printing technology offers and are given easier access through mainstream environments, like retail, the market for services is surely going to shatter expectations,” Durham said. “CHGT not only expects the demand for 3D printing services to continue to escalate as analysts predict, but we also expect to capitalize on this booming market segment by continuing to explore new 3D printing innovations, secure strategic partnerships and revolutionize on-demand for consumers in a variety of environments.”
CHGT subsidiary 6th Dimension Technologies (6D3D) will be offering high-quality, professional-grade on-demand 3D printed items at its retail kiosks. Currently a technology not easily accessible to mainstream consumers, 6D3D users will be able to customize items such as arts and crafts, jewelry, mobile phone cases, figurines and licensed miniatures with groundbreaking personalization options.
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Conclusion: CHGT made a spectacular run up earlier this year shortly after hitting the OTCBB from $0.50 to over $5 per share before a significant drop. At the height of the run up CHGT commanded a total market valuation in access of $300 million; an absurd valuation for any Company in the developmental stage with no revenues to date and minimal assets.
Besides the steady stream of press releases from the Company and the tight share structure little is known on the promotion that drove up the stock earlier this year. Currently trading at a $60 million market valuation CHGT remains among the top traded stocks on the entire OTCBB market. CHGT is a stock to watch.
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Disclosure: we hold no position in CHGT either long or short and we have not been compensated for this article.