olivLaw · US equity research
Change Agents Corporation CHGA
Services-Computer Programming Services · SIC 7371 · Vertical: Services-Computer Programming Services (SIC 7371)
Change Agents Corporation (CHGA) has moved from biotechnology into two small segments: a breath-based ketosis monitor and an AI video generation platform acquired in December 2025. The company reports continuing net losses, a strong focus on financing and a substantial going concern doubt, so the coming period will show whether the platform can generate meaningful revenue. A net loss of about 17.5 million USD in 2025 contrasts with revenue that has barely begun.
At the close of 04 Nov 2026, Change Agents Corporation (CHGA) stock was 0.89 USD (−1.99% on the day), with market capitalisation 17.8 m USD, beta 1.10, 52-week range 0.89–41.60 USD. Latest reported quarter (Q2 2026): net income of -2.2 m USD, diluted EPS -0.14 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 26.2
- oversold (≤ 30)
- Bollinger (20, 2)
- 0.85 – 2.24
- in the lower half of the band · %B 0.03 · band width 90.2%
- SMA 50 / 200
- 2.01 / 7.72
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.32 / -0.28
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −60.9% | −1.1% | −59.8 pp | — |
| 3 months | −77.7% | −0.5% | −77.3 pp | — |
| 6 months | −89.2% | +4.4% | −93.6 pp | — |
| Year to date | −96.3% | +12.3% | −108.6 pp | — |
| 1 year | −97.7% | +13.5% | −111.3 pp | −39.9% |
| 3 years | −99.6% | +76.4% | −176.0 pp | −39.6% |
| 5 years | −100.0% | +63.7% | −163.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 345.2 k | 345.8 k | 349.8 k | 350.4 k | 350.1 k | — | — | — |
| Research & development | 0 ≈ | — | — | — | — | — | — | — |
| Operating income | -1.3 m | -1.2 m | -1.8 m | -3.9 m | -76.2 k | -1.8 m | -2.7 m | -2.1 m |
| Interest expense | 547.2 k | -214.4 k | 560.0 k | 1.1 m | 267.4 k | -428.4 k | — | — |
| Pre-tax income | -1.7 m | -1.9 m | -2.3 m | -13.3 m | -254.3 k | -1.3 m | -4.4 m | -2.2 m |
| Net income | -1.7 m | -2.7 m | -2.5 m | -13.5 m | -254.3 k | -2.1 m | -4.5 m | -2.2 m |
| Diluted EPS | -1.82 | -2.04 ≈ | -1.43 | -6.22 | -0.06 | -0.42 ≈ | -0.50 | -0.14 |
| Operating cash flow | -1.9 m ≈ | -1.1 m | -1.8 m | -1.2 m ≈ | -1.4 m ≈ | — | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.6 m | 1.5 m | 1.4 m | 1.4 m | 1.2 m | 1.3 m | 1.3 m | unavailable |
| Revenue YoY | +45.0% | −1.0% | −10.9% | +1.0% | −13.6% | +4.5% | +6.2% | unavailable |
| Net income | -8.1 m | -18.1 m | -12.7 m | -9.1 m | -11.9 m | -16.7 m | -7.9 m | -18.3 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable | -1.07 | -1.28 | -23.80 | -8.44 | -5.64 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -515.4% | -1,168.6% | -920.3% | -653.5% | -992.4% | -1,330.5% | -592.7% | unavailable |
| Free cash flow | -4.5 m | -7.5 m | unavailable | -5.0 m | -7.0 m | -6.5 m | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 109.1 k USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 9.2 m USD
- Total assets
- 23.4 m USD
- Debt / equity
- unavailable
- Current ratio
- 0.11x
- ROE
- -223.6%
- ROA
- -82.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.4 m | 1.4 m | 1.2 m | 1.3 m | 1.3 m | — | SEC (XBRL)· 31 Mar 2025verified |
| Gross profit | 390.2 k | 414.5 k | 272.7 k | — | — | — | SEC (XBRL)· 30 Mar 2023verified |
| Research & development | 883.9 k | 1.0 m | 731.3 k | 109.6 k | — | — | SEC (XBRL)· 15 Apr 2024verified |
| Operating income | -12.5 m | -8.8 m | -8.8 m | -15.8 m | -4.8 m | -7.6 m | SEC (XBRL)· 30 Mar 2026verified |
| Depreciation & amortisation | 314.8 k | — | — | — | — | — | SEC (XBRL)· 30 Mar 2021verified |
| EBITDA | -12.1 m ≈ | — | — | — | — | — | SEC (XBRL)· 30 Mar 2021derived |
| Interest expense | — | — | 176.0 k | 1.4 m | 1.7 m | 1.5 m | SEC (XBRL)· 30 Mar 2026verified |
| Pre-tax income | -12.7 m | -9.1 m | -11.9 m | -16.7 m | -7.0 m | -17.5 m | SEC (XBRL)· 30 Mar 2026verified |
| Net income | -12.7 m | -9.1 m | -11.9 m | -16.7 m | -7.9 m | -18.3 m | SEC (XBRL)· 30 Mar 2026verified |
| Diluted EPS | — | -1.07 | -1.28 | -23.80 | -8.44 | -5.64 | SEC (XBRL)· 30 Mar 2026verified |
| Weighted average diluted shares | — | 8.5 m | 9.3 m | 701.9 k | 936.6 k | 3.2 m | SEC (XBRL)· 30 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 726.6 k | 807.5 k | 2.0 m | 285.4 k | 2.7 m | 109.1 k | SEC (XBRL)· 30 Mar 2026verified |
| Current assets | 1.3 m | 1.3 m | 2.4 m | 850.9 k | 3.2 m | 1.5 m | SEC (XBRL)· 30 Mar 2026verified |
| Property, plant & equipment, net | 479.1 k | 361.5 k | 138.3 k | 38.1 k | 1.3 k | 727 | SEC (XBRL)· 30 Mar 2026verified |
| Goodwill | — | — | — | — | — | 12.8 m | SEC (XBRL)· 30 Mar 2026verified |
| Intangibles (excl. goodwill) | — | — | — | 9.4 m | 8.7 m | 2.2 m | SEC (XBRL)· 30 Mar 2026verified |
| Total assets | 10.4 m | 10.2 m | 19.8 m | 20.6 m | 21.0 m | 23.4 m | SEC (XBRL)· 30 Mar 2026verified |
| Accounts payable | 87.2 k | — | 100.0 k | — | — | — | SEC (XBRL)· 22 May 2023verified |
| Short-term debt | — | — | — | 1.0 m | — | — | SEC (XBRL)· 15 Apr 2024verified |
| Long-term debt | — | 3.0 m | — | — | — | — | SEC (XBRL)· 30 Mar 2022verified |
| Current liabilities | 2.6 m | 4.4 m | 3.6 m | 6.8 m | 13.9 m | 14.1 m | SEC (XBRL)· 30 Mar 2026verified |
| Total liabilities | 6.2 m | 7.2 m | 8.6 m | 13.2 m | 13.9 m | 14.2 m | SEC (XBRL)· 30 Mar 2026verified |
| Equity | 4.1 m | 3.1 m | 11.2 m | 7.4 m | 7.1 m | 9.2 m | SEC (XBRL)· 30 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -7.5 m | -5.0 m | -7.0 m | -6.5 m | -5.0 m | — | SEC (XBRL)· 31 Mar 2025verified |
| Capex | — | 17.5 k | 1.7 k | 22.2 k | — | — | SEC (XBRL)· 15 Apr 2024verified |
| Free cash flow | — | -5.0 m ≈ | -7.0 m ≈ | -6.5 m ≈ | — | — | SEC (XBRL)· 15 Apr 2024derived |
| Investing cash flow | -169.2 k | -68.1 k | -9.1 m | -22.2 k | -100.0 k | — | SEC (XBRL)· 31 Mar 2025verified |
| Financing cash flow | 7.7 m | 5.2 m | 17.3 m | 4.8 m | 7.6 m | 1.4 m | SEC (XBRL)· 30 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 40.4% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 17.8 m USD
Key indicators
Coverage and freshness
Score by group
40% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 40.4% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | unavailable | unavailable | — |
| EBIT margin · Quality | -477.7% | 19 (vs peers) | 21% |
| FCF margin · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -1.4% | 0 (on a fixed band) | 42% |
| Revenue growth (YoY) · Growth | 6.2% | 58 (vs peers) | 21% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.1x | 0 (on a fixed band) | 16% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial0/100 · 1/2 factors with a value
- Growth19/100 · 2/2 factors with a value
- Quality· partial19/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partialunavailable · 0/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CHANGE AGENTS CORPORATION (CHGA). Latest full fiscal year: 2024; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.3 m USD in 2024; YoY growth 6.2%; net margin -643.1%; ROE -606.9%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 40.4% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- EBIT margin: -477.7%
- Revenue CAGR 3Y: -1.4%
- Current ratio: 0.1x
Not assessed (insufficient data or a ratio without meaning): Gross margin, FCF margin, Net debt / EBITDA, EV/Sales, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Services-Computer Programming Services (SIC 7371) · same industry (4-digit SIC) · compared with 32 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| INFYInfosys Limited | 49.6 bn | 16.1 | 29.0% | 16.4% | +3.9% | −30% / −30% |
| ZSZscaler Inc | 36.6 bn | — | -2.9% | -1.9% | +25.4% | −11% / +14% |
| CTSHCognizant Technology Solutions Corporation | 29.4 bn | 12.0 | 17.4% | 11.8% | +7.0% | −15% / −7% |
| VRSNVerisign Inc | 28.5 bn | 33.6 | — | 49.1% | +6.4% | +26% / +50% |
| WITWipro Limited | 22.7 bn | 15.4 | 16.4% | 14.7% | −3.2% | −21% / −11% |
| EPAMEpam Systems, Inc. | 7.1 bn | 18.6 | 11.2% | 7.2% | +15.4% | −27% / −47% |
| DOCSDoximity, Inc. | 6.2 bn | 40.9 | 17.2% | 25.5% | +13.1% | −33% / +49% |
| DOXAmdocs Limited | 4.9 bn | 10.3 | 14.1% | 9.9% | +2.4% | −43% / −48% |
| RGTIRigetti Computing, Inc. | 3.7 bn | — | -43.8% | -1,787.4% | −34.3% | −56% / +958% |
| FORTYFormula Systems (1985) Ltd. | 1.8 bn | 23.4 | 12.2% | 2.9% | +5.2% | −20% / +96% |
| MGRTMega Fortune Co Ltd | 1.6 bn | 698.9 | 21.1% | 16.1% | +233.3% | +1,864% / unavailable |
| PERIPerion Network Ltd. | 446.8 m | — | -1.1% | -1.8% | −11.7% | +12% / −59% |
| MFImF International Limited | 367.8 m | 36.4 | 3.9% | 232.8% | +29.4% | −68% / unavailable |
| IAInnovative Solutions And Support, Inc. | 353.7 m | 18.8 | 28.5% | 20.5% | +78.6% | +103% / +167% |
| GDEVGDEV Inc. | 176.1 m | 2.6 | — | 17.1% | −3.9% | −44% / −57% |
| ATGLAlpha Technology Group Ltd | 146.5 m | — | -184.7% | -952.0% | −40.2% | −61% / −39% |
| MLGOMicroAlgo Inc. | 135.7 m | 1.2 | 7.6% | 30.2% | −20.3% | −61% / −100% |
| MWCMicware Co., Ltd. | 82.0 m | 8.1 | 20.0% | 7.3% | unavailable | unavailable / unavailable |
| PDCPerpetuals.com Ltd | 74.9 m | — | -75.8% | -1,069.9% | −47.0% | −61% / −13% |
| CINTCI&T Inc | 73.8 m | 10.3 | 13.8% | 8.3% | +11.5% | −31% / −40% |
| CYCUCycurion, Inc. | 65.1 m | — | -76.7% | -98.0% | −14.8% | −91% / unavailable |
| XTIAXti Aerospace, Inc. | 37.7 m | — | — | -89.6% | +602.4% | −40% / −100% |
| MNDOMind Cti Ltd | 18.3 m | 6.9 | 11.0% | 13.4% | −9.3% | −24% / −53% |
| CHGAChange Agents Corporation | 17.8 m | — | -606.9% | -643.1% | +6.2% | −98% / −100% |
| RDNWRideNow Group, Inc. | 11.7 m | — | — | -0.8% | −10.5% | +7% / −9% |
1- and 3-year price returns: for CHGA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Change Agents Corporation (CHGA) has moved from biotechnology into two small segments: a breath-based ketosis monitor and an AI video generation platform acquired in December 2025. The company reports continuing net losses, a strong focus on financing and a substantial going concern doubt, so the coming period will show whether the platform can generate meaningful revenue. A net loss of about 17.5 million USD in 2025 contrasts with revenue that has barely begun.
SWOT
Strengths
- The company holds an exclusive distribution agreement for Keto Air in North America and an AI platform already in beta testing 1.
- Keto Air is classified as a consumer product and does not require FDA pre-market approval, which simplifies the route to market 1.
- The patent portfolio and the three provisional applications filed for the RPM platform offer a potential base of intellectual property protection 1.
Weaknesses
- The company has continuing net losses, a working capital deficit and a going concern warning from its auditor 1.
- It has very few employees and depends on outside contractors and a small number of key executives 1.
- Keto Air sales are minimal, and a history of abandoned projects, including the YOOV merger, weighs on the credibility of the strategy 12.
Opportunities
- The launch of Catch-Up Phase 2, extended to creators and marketers, could open a much wider market 12.
- Complementary AI acquisitions could bring near-term revenue if transactions close and integrate well 12.
- The GEO product for local businesses could attract subscribers if it proves useful for visibility in AI search engines 2.
Threats
- Competition from companies with much larger resources and from AI start-ups could reduce the platform's market share 1.
- Rules on likeness rights and biometric data could create legal liability for AI avatars 1.
- Dependence on a single Hong Kong supplier for Keto Air could affect deliveries if disruptions occur 1.
Risks
- Going concernhigh
The auditor has expressed substantial doubt about the company's ability to continue as a going concern, and current cash cannot cover expenses for the next twelve months 1.
- Dependence on equity financinghigh
The company intends to finance itself through equity sales, which could dilute existing shareholders if capital is not raised on favourable terms 1.
- Liability for AI avatars and biometric datamedium
The likeness and voice replication feature could lead to claims for publicity rights and breaches of biometric data laws 1.
- Copyright infringementmedium
The module that collects videos from the internet could reproduce protected content, which could lead to costly litigation 1.
- Single supplier dependencelow
Supply disruptions for the Keto Air device could prevent order fulfilment and sustain revenue in that segment 1.
Investment thesis
What would need to be true (bull case)
- If Catch-Up Phase 2 launches on time and attracts users beyond podcasters, the AI segment could become the main revenue source.
- An exclusive North American distribution agreement and a simpler consumer classification could support Keto Air sales if marketing channels perform.
- Complementary AI acquisitions, if completed, could bring quick revenue and reduce reliance on equity financing.
What would break the thesis
- Continuing net losses and the going concern warning suggest financing is a serious issue, and shareholder dilution could be unavoidable.
- A history of abandoned projects, including the YOOV merger and the laboratory investment, could indicate that strategy changes frequently.
- Competition in AI and legal risks around avatars could keep the platform from reaching the scale needed to cover its costs.
What to watch
- Launch of Catch-Up Phase 2 and the number of new usersQ3 2026
- Results of equity financing and any dilution2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company defines its business through two segments: a consumer health technology segment centred on the Keto Air device, and an AI content technology segment run through its subsidiary Avalon Quantum AI, LLC 1. Keto Air is a non-invasive breath device distributed in North America under an exclusive agreement, and the company describes its sales as being in an early commercial testing phase 1. The RPM Interactive acquisition, completed in December 2025 with preferred stock, brought an AI video generation platform that is in beta with a limited number of creators 1.
The staff is small: as of March 25, 2026 the company had two full-time employees and several independent contractors 1. In the second quarter of 2026 management said it is pursuing complementary AI acquisitions and announced plans to expand into autonomous air defence systems through a new entity 2.
Segments
AI content technology (Avalon Quantum AI)
The Catch-Up platform generates short videos with an AI avatar of the creator, starting from a topic chosen by the user; Phase 2, which extends the user base beyond podcasters, was scheduled for the third quarter of 2026 12. The company has also added a generative engine optimization (GEO) product for local businesses, offered by monthly subscription 2.
Market context
The ketosis monitoring market is dominated by urine test strips, which are the lowest-cost option, while reusable breath devices are a newer and narrower segment 1. The AI content market is changing rapidly, with frequent entry by new players, and large companies are investing heavily in avatar and video generation technology 1.
For the AI search optimization market, the company targets small local service businesses; the documents provided do not give figures for that segment, so its size remains unverified 2.
Trends
- Growth of AI-generated contenttailwind
Content creators are looking for tools that automate production, which could support demand for the RPM platform if adoption accelerates 1.
- Regulation of AI and biometric dataheadwind
Laws on likeness rights, cloned voices and biometric data are changing quickly in the United States, and new requirements could raise the platform's compliance costs 1.
- FDA classification of wellness devicesheadwind
The classification of consumer health devices is under ongoing FDA review; a reclassification could limit Keto Air sales in the United States 1.
- Interest in metabolic healthmixed
Low-carbohydrate diets remain popular, which could support demand for ketosis monitoring if influencer channels and law enforcement partnerships generate sales 1.
Competitive position
In consumer health, competition comes from urine test strip makers, which are cheaper and more widespread, and from other reusable breath devices launched by health technology companies 1. In AI content, competitors include technology companies with large resources and start-ups building similar generative platforms 1.
The company acknowledges that many rivals have far greater financial resources, brand recognition and distribution networks, which could limit its ability to compete over the long term 1. Its stated advantage is end-to-end automation of the video creation workflow and being the only Keto Air distributor in North America 1.
- Urine ketone test strip manufacturers
The cheapest and most widely used method, sold through broad retail and online channels 1.
- Other breath ketone monitor makers
Reusable devices recently launched by health technology companies, with wider distribution 1.
- Large technology companies with AI content tools
They invest in content generation and avatar technology with far greater research and data assets 1.
- AI generation and search optimization start-ups
Small companies that could become significant competitors, especially through partnerships with platform operators 12.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report30 Oct 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Current report19 Oct 2026Material agreement · Creation of a direct financial obligation · Item 3.02 · Financial statements and exhibits
- Current report16 Oct 2026Departure or appointment of officers
- Current report08 Oct 2026Departure or appointment of officers
- Current report02 Oct 2026Material agreement · Creation of a direct financial obligation · Item 3.02 · Financial statements and exhibits
- Proxy statement29 Sept 2026
- Current report (amendment)18 Sept 2026Material agreement · Creation of a direct financial obligation · Item 3.02 · Financial statements and exhibits
- Current report14 Sept 2026Material agreement · Creation of a direct financial obligation · Item 3.02 · Financial statements and exhibits
- Current report31 Aug 2026Item 3.03 · Amendments to articles or bylaws · Regulation FD disclosure · Financial statements and exhibits
- Current report31 Aug 2026Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Change Agents Corporation · 30 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Change Agents Corporation · 14 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Change Agents Corporation · 27 Apr 2023
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.