Published On: Tue, Aug 30th, 2016

Chron Organization, Inc. (OTCMKTS:CHRO) Continues Its Upward Trend

Chron Organization, Inc. (OTCMKTS:CHRO) experienced a surge in its share price, during yesterday’s session, continuing its upward trend from August 26. The stock had been slowly declining, since the filing of the 2Q2016 financial results by the company, but now seems to be recovering once again. It should be noted here that CHRO has not issued any press release or made any filings, since August 15.

In its 2Q2016 financial report, Chron revealed that it had no revenues and has been experiencing a surge in its sales, general and administrative expenses. The report revealed that CHRO had a net loss of over $380,700 during the 2Q2016, as compared to just over $130,000 in the preceding quarter. However, at the end of the 1H2016, CHRO had improved its cash position from $0 to over $304,700, as compared to the preceding half. Added to this, the company had also experienced a surge of $7,500 in terms of convertible debt.

This was also the first quarter for the company as a provider of smart home technologies and the next generation utility services. In its financial report, the management noted that it was no longer pursuing the restaurant industry anymore and the entire management team, from that industry has also resigned. Given the current financial state, Chron stated that it plans to secure financing through the sale of its securities. As such, during the 1H2016, CHRO had successfully raised $650,000 through sale of its common stock and $62,000 under convertible notes.

Earlier this month, Chron had announced that its subsidiary, Zen Technologies Inc, would be launching a customer-facing-e-commerce website, for the sale of smart home products. The company aims to provide home automation and smart home services, at reasonable rates. Currently, such systems tend to cost $100,000 and more, but CHRO plans to sell its products only at a fraction of this amount.

Chron Organization, Inc. (OTCMKTS:CHRO) recorded a trade volume of 3.72 million and a gain of 25.17% in terms of its share value, during the August 29 trading session, to reach a close at $0.0363 per share.

© Copyright 2016 OTC News Magazine. All rights reserved.