CHGT is a 3D printing enterprise that plans to enter the retail 3D printing space and make the big time. Sadly, this business plan is not going to become a reality if the company just keeps piggy-backing on the PR and success stories of other, incomparably bigger corporations and drawing parallels between their success and its own aspirations.
What CHGT intends to do is launch a 3D printing platform that allows easy access so users can make almost anything they want. The company also has some beautiful 3D renders of its planned 'Print-a-Bit' retail kiosks that it wants to install in retail locations such as malls. What stands in the way of that business plan, however, is a severe lack of, well, pretty much anything.
CHGT's corporate HQ address happens to be a virtual office in Houston, TX. In fact, the same (virtual) office suite is shared by another OTC company – Cala Energy Corp. (OTCMKTS:OILL), which means the monthly rent probably costs CHGT the monumental thirty dollars. The company has $26 thousand in total current assets to its name. It has no history of revenue generation.
Considering this severe lack of funds, it's a little strange that CHGT has such grand, costly plans for installing custom 3D printing, consumer-oriented kiosks, each supplied with its own 3D printer. It's not too clear why the company made this dramatic switch to 3D printing either, as its most current public report states CHGT was formed to develop 'apps' focused on productivity and health and fitness monitoring.
A recent article by Andrew Wheeler, published by 3D Printing Industry – likely the premier outlet keeping track of the sector – went so far as to call CHGT a “complete fraud”. Readers should be able to find all the extra information they need and form their own opinion whether this is the case or not. At any rate, there are more than enough red flags about the company to warrant a long, hard look into the details before any further action is taken.