Dragni Dragnev

Changing Technologies, Inc. (OTCBB:CHGT)'s Run Up Continues

by Dragni Dragnev April 11, 2015

Evidently, investors were thrilled when Changing Technologies, Inc. (OTCBB:CHGT, CHGT message board) announced that it “will begin in-house beta testing for its cutting-edge 3D printing Portal” on Mar. 30. However, it was the Apr. 9 announcement that CHGT is advancing its “new Portal, an ‘Oracle’ of 3D printing information” that really pumped up the volume and enabled its two spectacular jumps.

There is no mistake - 3D printing is one of the most trending and popular technologies at the moment. Thus, it is no wonder that companies market themselves as 3D printing companies can attract a lot of attention without actually being worthy of it.

The SEC has warned investors about this on multiple occasions. Hype and trust in the company's boastful claims alone are should never be motivators for committing to its stock.

And CGHT sure does have some boastful PR. Just one glance at its most recent press releases gives the impression that the company is on the verge of something grand – a revolution of 3D printing.

A quick browse through the company's latest 10-Q, on the other hand, reveals an entirely different, much darker picture:

  • Cash – $14 thousand
  • Total current assets - $14 thousand
  • Total current liabilities - $111 thousand
  • Net Loss - $232 thousand

These are the financials of a company that is currently worth $22 MILLION. This should be a warning enough for most diligent investors.

On the bright side, there doesn't seem to be much dilution going on with CHGT. While the company does have convertible notes payable, at about $260 thousand the debt can hardly be called crushing and besides – it does converts into shares at prices ranging from $0.41 to $0.5 a pop.

With all this in mind, as the old saying goes – let the buyer beware.

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