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Wangle Technologies delivers impressive ASX debut

Wangle Technologies delivers impressive ASX debut

Wangle Technologies (ASX:WGL), (formally VTX Holdings, ASX:VTX), hit the ASX boards today after transitioning into the technology sector.

In afternoon trade, Wangle has rallied 25% to $0.046 a share, with 27 million shares changing hands.

The company has created a patent pending network software system that delivers greater transfer efficiency of data at faster speeds and lower cost to the consumer.

Wangle’s proprietary technology disrupts the global data market, which is experiencing increasing data usage and is unequipped to deal with future loads.

The company is well positioned to take advantage of the ongoing demand within the market for a technology solution to increase the efficiency and speed of data transfer.

Commercialisation of its technology will begin through a downloadable app by the end of March, targeting 500,000 paying subscribers by December 2018.

Revenue generation will commence in Q2 2016 with the implementation of a subscription based revenue model, with further commercialisation via the Enterprise and lucrative Hardware markets.

Wangle is well-funded with $4.3 million in cash to execute its growth strategy.

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