{ "ok": true, "cik": "1630212", "ticker": "CHGA", "name": "CHANGE AGENTS CORPORATION", "filings": [ { "form": "DEF 14A", "filed": "2026-09-29", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1630212/000121390026104329/0001213900-26-104329-index.htm" }, { "form": "8-K", "filed": "2026-09-14", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "3.02 Unregistered Sales of Equity Securities", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1630212/000121390026099714/0001213900-26-099714-index.htm" }, { "form": "8-K", "filed": "2026-08-31", "items": [ "3.03 Material Modifications to Rights of Security Holders", "5.03 Amendments to Articles or Bylaws; Change in Fiscal Year", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1630212/000121390026095707/0001213900-26-095707-index.htm" }, { "form": "8-K", "filed": "2026-08-31", "items": [ "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1630212/000121390026095403/0001213900-26-095403-index.htm" }, { "form": "8-K", "filed": "2026-08-24", "items": [ "1.01 Entry into a Material Definitive Agreement", "3.02 Unregistered Sales of Equity Securities", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1630212/000121390026093113/0001213900-26-093113-index.htm" }, { "form": "8-K", "filed": "2026-08-18", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "3.02 Unregistered Sales of Equity Securities", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1630212/000121390026091239/0001213900-26-091239-index.htm" } ], "events12m": 33, "healthWatch": { "window": "last 12 months", "since": "2025-09-30", "signals": [ { "code": "3.01", "label": "Exchange listing notice or transfer", "count": 2, "latest": { "filed": "2026-04-17", "url": "https://www.sec.gov/Archives/edgar/data/1630212/000121390026045160/0001213900-26-045160-index.htm" } }, { "code": "5.02", "label": "Director or officer change", "count": 5, "latest": { "filed": "2026-07-02", "url": "https://www.sec.gov/Archives/edgar/data/1630212/000121390026075090/0001213900-26-075090-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001630212.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1630212" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up CHANGE AGENTS CORPORATION ($CHGA). Last filing: DEF 14A, 2026-09-29. 33 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2024-12-31", "revenue": 1333403, "revenueGrowth1y": 0.06189629372428196, "revenueGrowthPerYear": -0.008148152994408298, "yearsOfData": 5, "operatingMargin": -3.630747793427793, "operatingMarginPrior": -12.54592766793477, "netMargin": -5.927235801929349, "operatingCashFlow": -4969205, "capitalSpending": null, "freeCashFlow": null, "researchAndDevelopment": 0, "researchShareOfRevenue": 0, "cash": 2658182, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2020-12-31", "revenue": 1377762 }, { "fiscalYearEnd": "2021-12-31", "revenue": 1390972 }, { "fiscalYearEnd": "2022-12-31", "revenue": 1202169 }, { "fiscalYearEnd": "2023-12-31", "revenue": 1255681 }, { "fiscalYearEnd": "2024-12-31", "revenue": 1333403 } ], "totalEquity": 7102623, "totalAssets": 20985178, "equityRatio": 0.3384590304642639, "returnOnEquity": -1.1127429964958016, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "latestAudited": { "fiscalYearEnd": "2025-12-31", "revenue": null, "operatingCashFlow": null, "cash": 109091, "totalEquity": 9230108, "totalAssets": 23400737, "equityRatio": 0.3944366367606285 }, "revenueYearIsOld": true, "earningsPerShare": -8.44, "sharesOutstanding": 936614, "bookValuePerShare": 7.583297922089569, "revenuePerShare": 1.4236419699043577, "range80": { "low": 911409.7606696326, "high": 1956786.9718668938, "baseline": 1365341.7344543529, "n": 2483, "band": "b000", "bandLabel": "under $50M", "method": "v4.1", "credibility": 0.625, "growthYears": 6, "ownVolatility": 0.08498960550066355, "classVolatility": 0.3000583276631395, "volatility": 0.1956467368804653 }, "ifPaceHeld": { "low": 911409.7606696326, "high": 1956786.9718668938 } }, "edgarette": "🔖 Exposure: revenue $1.3M (FY2024). Experience: revenue up 6.2% on the year, down 0.8% a year over 4 years; operating margin -363.1%, up from -1254.6%. Soundness: equity 33.8% of assets, return on equity -111.3%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $911K and $2.0M next year (method v4.1: its own 6-year record of growth weighed at 63% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $865K to $2.1M. A statistical range, not company guidance. Against peers (12 filers, $50M+ revenue, services-computer programming services): operating margin -363.1% against a 5.7% median; growth 6.2% against 6.7%.", "peers": { "sic": 7371, "sicDescription": "Services-Computer Programming Services", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7371", "growth": [ 0.0666, 10 ], "opMargin": [ 0.0565, 12 ], "equityRatio": [ 0.4421, 11 ], "returnOnEquity": [ 0.0397, 8 ] }, "summary": "Change Agents (CHGA) grew revenue 6.2% in FY2024 to $1 million, operating margin -363% against a 5.7% median for services-computer programming services, equity 33.8% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
CHANGE AGENTS CORPORATION against its own record and its peers
Operating marginPeer median 5.7%-363.1%Revenue, on the yearPeer median 6.7%6.2%Equity of assetsPeer median 44.2%33.8%Return on equityPeer median 4.0%-111.3%Gold tick: the median of 8–11 peers with $50M+ revenue in services-computer programming services
", "chartHorizon": null, "backtest": { "tests": 5, "hits": 5, "rate": 1, "method": "v4", "byYear": { "2020": [ 1, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "caution": "Its latest audited year is FY2025, which reports no revenue; the revenue figures and the range here are from FY2024, its last year with revenue on record. Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Change Agents (CHGA) grew revenue 6.2% in FY2024 to $1 million, operating margin -363% against a 5.7% median for services-computer programming services, equity 33.8% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2024-12-31", "revenue": 1333403, "totalDebt": null, "cash": 2658182 }, "experience": { "revenueGrowth1y": 0.06189629372428196, "revenueGrowthPerYear": -0.008148152994408298, "operatingMargin": -3.630747793427793, "operatingMarginPrior": -12.54592766793477, "netMargin": -5.927235801929349, "freeCashFlow": null }, "soundness": { "equityRatio": 0.3384590304642639, "returnOnEquity": -1.1127429964958016, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 7371, "sicDescription": "Services-Computer Programming Services", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7371", "growth": [ 0.0666, 10 ], "opMargin": [ 0.0565, 12 ], "equityRatio": [ 0.4421, 11 ], "returnOnEquity": [ 0.0397, 8 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-30", "signals": [ { "code": "3.01", "label": "Exchange listing notice or transfer", "count": 2, "latest": { "filed": "2026-04-17", "url": "https://www.sec.gov/Archives/edgar/data/1630212/000121390026045160/0001213900-26-045160-index.htm" } }, { "code": "5.02", "label": "Director or officer change", "count": 5, "latest": { "filed": "2026-07-02", "url": "https://www.sec.gov/Archives/edgar/data/1630212/000121390026075090/0001213900-26-075090-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 911409.7606696326, "high": 1956786.9718668938, "baseline": 1365341.7344543529, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 2483, "sizeBand": "under $50M", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341, "coverageAllYears": 0.6904374799277399, "stressCoverageAllYears": 0.819004992974709, "outcomeYears": [ 2019, 2025 ] }, "credibility": { "weightOnOwnRecord": 0.625, "growthYears": 6, "ownVolatility": 0.08498960550066355, "classVolatility": 0.3000583276631395, "pricedVolatility": 0.1956467368804653, "k": 3 }, "stress": { "low": 864884.6979909784, "high": 2065807.876759905, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 5, "hits": 5, "rate": 1, "method": "v4", "byYear": { "2020": [ 1, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": null, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Its latest audited year is FY2025, which reports no revenue; the revenue figures and the range here are from FY2024, its last year with revenue on record. Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001630212.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1630212" }, "speedCash": { "fiscalYear": 2024, "cashConversion": -2, "growth3y": -0.014, "volatility": 0.0946, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.3385, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "between", "inside": "Turns -200.0% of revenue into operating cash; revenue shrinking 1.4% a year over three years; no common dividend.", "outside": "Among under $50M companies: 8th percentile for cash, 43rd for growth.", "emoji": "🌊", "label": "In between", "plain": "no clear cash pattern yet" }, "band": "under $50M", "cashPctInClass": 8, "growthPctInClass": 43, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "cash", "text": "operating cash flow was negative" }, { "key": "range", "text": "revenue is hard to predict: its 80% range is ±36%" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 2, "name": "Weathered boat", "plain": "two warning signs" }, "cashFlow": { "fiscalYearEnd": "2024-12-31", "operating": -4969205, "investing": -100000, "financing": 7638667, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2020-12-31", "operating": -7546100, "free": null }, { "fiscalYearEnd": "2021-12-31", "operating": -5024479, "free": -5041981 }, { "fiscalYearEnd": "2022-12-31", "operating": -7037224, "free": -7038973 }, { "fiscalYearEnd": "2023-12-31", "operating": -6504718, "free": -6526877 }, { "fiscalYearEnd": "2024-12-31", "operating": -4969205, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2024-12-31", "cash": 2658182, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 20985178, "ladder": null, "currentRatio": 0.23, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2024, "cashConversion": -2, "growth3y": -0.014, "volatility": 0.0946, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.3385, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "between", "inside": "Turns -200.0% of revenue into operating cash; revenue shrinking 1.4% a year over three years; no common dividend.", "outside": "Among under $50M companies: 8th percentile for cash, 43rd for growth.", "emoji": "🌊", "label": "In between", "plain": "no clear cash pattern yet" }, "band": "under $50M", "cashPctInClass": 8, "growthPctInClass": 43, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "cash", "text": "operating cash flow was negative" }, { "key": "range", "text": "revenue is hard to predict: its 80% range is ±36%" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 2, "name": "Weathered boat", "plain": "two warning signs" }, "cashFlow": { "fiscalYearEnd": "2024-12-31", "operating": -4969205, "investing": -100000, "financing": 7638667, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2020-12-31", "operating": -7546100, "free": null }, { "fiscalYearEnd": "2021-12-31", "operating": -5024479, "free": -5041981 }, { "fiscalYearEnd": "2022-12-31", "operating": -7037224, "free": -7038973 }, { "fiscalYearEnd": "2023-12-31", "operating": -6504718, "free": -6526877 }, { "fiscalYearEnd": "2024-12-31", "operating": -4969205, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2024-12-31", "cash": 2658182, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 20985178, "ladder": null, "currentRatio": 0.23, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }