Ciao Group, Inc. (OTC Pink: CIAU) is engaged as a blockchain and digital currency company. Shares of the digital currency company are declining 27.24%, through early trading on Tuesday, July 11, 2017. Over the past month, Ciao Group, Inc. saw average daily volume of 97,408 shares. However, volume of 132,128 shares or dollar volume of $17,784, has already exchanged hands on the day.

Shares of Ciao Group, Inc. are down today, despite the fact that its planned initial coin offering (ICO) plans gained optimism, after the Wall Street Journal reported on a $400 million ICO raise from two small, obscure companies. Here is the full press release detailing of the ICO optimism:

Ciao Group, Inc. Press Release:

DALLAS, July 11, 2017 /PRNewswire/ –Ciao Group, Inc. (USOTC: CIAU) today announced an optimistic outlook for its Initial Currency Offering (ICO) plans announced last week as part of its Blockchain Frontier Markets Strategy. An article recently published by the Wall Street Journal reported, “Two obscure companies with no sales raised nearly $400 million combined in recent days from outside investors.” The article goes on to explain how the money was raised through each company’s ICO. Aubrey Brown, the CEO of Ciao Group stated, “We have been working over the last year to bring increased liquidity to USD $530 billion in African publically traded company market capitalization. We intend to issue a Blockchain secured Cryptocurrency in conjunction with making African Stocks accessible and attractive to US investors. The Wall Street Journal reported $400 million raised through two ICO’s lends substantial credibility and optimism to our Ciao ICO plans.”

Ciao Group’s Refreshed Business Plan And Name Change To NuMelo Technology

Ciao Group recently announced a refreshed business plan to concentrate on developing locally sourced technology and telecommunication services within frontier and emerging economic markets. The Company is in the process of changing its name to NuMelo Technology as part of the business plan refresh.

Learn more about Ciao Group/NuMelo Technology on the Company’s website and check back frequently to keep up with the Company’s progress to include two acquisitions anticipated soon. Look for regular updates to the collaboration agreement announced today on the websites of both Ciao Group/NuMelo Technology and Hub Culture.

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

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