This page has been archived and commenting is disabled.
Undisputable Bubble Insanity: No Revenue, No Assets Company Up Over $1 Billion (+110%) Today On 57K Shares Traded
Update 2: CYNK closed up 150%, at an all time high of $14.70, a market cap well over $4 billion. Clearly there is much untapped upside left for the company with no assets or revenues.
Update: Stock is now $14/share, implying a market cap for the revenue/asset-free compah of over $4 billion. This means it has a market cap higher than Dynegy, Federal Mogul, JetBlue or Buffalo Wild Wings.
Just 2 days ago we highlighted the best example of the exuberance awash the markets currently - CYNK Technology Corp, the social media development company that had a market capitalization in excess of $1 billion, which according to official filings, had one employee, no website, no revenue, no product, and no assets. Fast forward 2 days - and some 57,000 shares traded (about 0.02% of its total shares outstanding) at around $10 and CYNK now has a market cap approaching $3 billion (and still no revenue, no product, and no assets)... Lord Overstone said it best. “No warning can save people determined to grow suddenly rich.”
CYNK is up 80% today... on 57,379 shares traded
Think we are exaggerating, here is the company's own description from its 10-K (yes mysteriously it does actually have public filings):
we have not yet commenced our full scale business operations and we have not yet realized any revenues.
We have minimal operating history upon which an evaluation of our future prospects can be made. Based upon current plans, we expect to incur operating losses in future periods as we incurred significant expenses associated with the initial startup of our business. Further, we cannot guarantee that we will be successful in realizing revenues or in achieving or sustaining positive cash flow at any time in the future. Any such failure could result in the possible closure of our busiess or force us to seek additional capital through loans or additional sales of our equity securities to continue business operations.
And its most recent "assets" from its Sept 30 10-Q. Alas, the 10-K filing was delayed...
And its "income statement"
»
- 72963 reads
- Printer-friendly version
- Send to friend
- advertisements -
there are no degrees of fake...this is just another symbol, no more fake than JPY or USD or SPX
And O-barry is the only employee..... CREAM bitchezzzz
I thought he was majority shareholder?
Huh
Talk about "painting the tape"
sort of a Goldmanesque Chicken Futures account trading thingamajigglie
Fundamental analysis is so 1970's
Dot com 2.0. Totally stupid.
Dot com bubble and housing bubble at the same time now. Neither worked on their own, so it's probably wise to try both simultaneously.
I just want to know if any insiders are selling their shares. I mean, if THE insider is selling his shares.
who has the balls to short a rocket to the moon?
Gotta love our algo friends!
How is it that a "company" like this can get approval to be listed on any stock exchange? Do you just have to fill out a form on the back of a book of matches or what? Honestly, I know nothing about how a company gets approval or whatever it needs to sell stock in itself if it's not really a company other than that it has a name.
All it takes is a lawyer (which undoubtedly accounts for the $25,000 in "professional" expenses contributing to their NOL).
A question here:
You think ZH is trolled by the manipulators of this market. Their AI trading system reads the article and executes trades against the short traders.
Experiment:
Find some other no asset stock, write a similar article, see if there is an immediate response to the article.
Fantastic idea. Tyler must conduct this experiment. For truth.
Interesting Bio.
MARLON L. SANCHEZ was elected as a member of of the Board of Directors on April 17, 2013. On April 18, 2013 he was appointed as Chief Executive Officer, President, Secretary, Chief Financial Officer and a director of Introbuzz, Inc. From 2002 to present, Mr. Sanchez has been a Partner in Sanchez Medical Services, which provides comprehensive medical services to the Southern California market. Mr. Sanchez's responsibilities include direct oversight of administrative operations. Sanchez Medical Services also has a division dedicated to the ever growing Medical Tourism Industry. Mr. Sanchez is the primary spokesperson for the Medical Tourism Industry council in Tijuana,Mexico. Mr. Sanchez is a graduate of San Diego State University with a degree in Business Administration Marketing. Mr. Sanchez has not held directorship during the past five years in any other publicly traded company.However, there is no Medical Tourism Industry Council in Tijauna, Mexico and there is one Sanchez Medical Services in Chula Vista, Southern California, yet after a quick call, the numbers do not work and the former listed Dr. Sergio Quinones has never heard of Marlon Sanchez.
https://www.facebook.com/pages/Sanchez-Medical-Services/550787804939532
And CYNK Technology Corp's 2011 and 2012 auditor, Peter Messineo, CPA, was sanctioned by the Public Company Accounting Oversight Board for "deficiencies identified in both of the audits reviewed included deficiencies of such significance that it appeared to the inspection team that the Firm, at the time it issued its audit report, had not obtained sufficient competent evidential matter to support its opinion on the issuer's financial statements."
http://pcaobus.org/Inspections/Reports/Documents/2012_Peter_Messineo_CPA...
http://www.sec.gov/Archives/edgar/data/1540160/000116552713000039/ex16-1...
Jordan Belfort is out of prison now...maybe his new movie and a fresh batch of killer 'ludes got him all fired up to create some new pump and dump schemes just for old times sake???
I take it the sponsors of ZH have shorted the mentioned stock, and are getting squeezed like a teddy bear. This is all a joke. Everything we know and learn serves the purpose of someone else. Our money is a joke. The dollar is getting replaced by bitcoin. Get some free at http://freebitco.in/?r=25727 Bitcoin is the next joke. But it will be a joke for 50+ years. Let's all have a laugh.
This company is a pump and dump and for it to shoot up in price that much on a 57,000 share trade is indefensable. I think the computers on Wallstreet and the algo's are manipulating it all and this is one if not one of a few dogs that happened to fall into the algo by mistake when it shouldn't have.
and since computers don't go to jail, everyone gets away scott free!
Velllll ve didnt tink anyboody vould notice seeeeeeech
a sheckle here
a sheckle there
vho vould notice a vitlle company vith nothing
oy vey
Hmmmmmmmm. Ever learned what the Crusades were?
Approval!?!? We don't need no stinkin' approval. Vamanos!
Would it make more sense if this could possibly be some back door funding/money laundering for something like the Contras or some Contra equivalents? There is almost always some reason for levitation, whether understood by the general public or not.
I give you an up-arrow for two reasons:
1. Insanity in it's raw form ALWAYS gets an up arrow from me.
2. You mentioned the Contras, which is just freaking awesome given how long it's been since anyone even thought about that.
They turned that whole thing into a great 80s video game. Up Up Down Down
Can it be that the CIA Black Projects bought a substantial portion of the of the stock at the beginning?
Go Zapata Oil.
Lol, spent too many hours playing that.
Thanks for the trip down memory lane...
The Contra funding source was circuitous and not obvious to the casual observers.
I certainly hope this stock doesn't cynk (prn: sink).
Hmm. I thought it was pronounced "cynic".
sounds like an old username, until too many others latched onto it.
Four chan: "who has the balls to short a rocket to the moon?"
Hell, they'll probably come up with some way to turn the VIX negative.
The bastards.
Nonsense, the answer is simply more. "Asset" class doesn't matter, its all insanity all the time, details are moot..
Balance sheets are overrated.
FASB 157 was overrated.
Jimmy boy ass clown alert.
This doesn't even rise to the level of fundamentals. This is obviously a joke company spun way out of control.
A few dorks are sitting aound talking about coding blah-blah. One of them jokes that he should start a company that basically does nothing and admits it, take it public, and see what happens. Everyone else jumps in agreeing it would be hilarious. Someone reports on it and viola, publicity. Fools rush in. Dork gets rich.
That or someone at ZH did this, wrote the story, and is making out with a supermodel tonight.
It had to be a joke (yeah, I really am trying to convince myself).
A shell company. 1/2 billion authorized and 1/2 of that issued. Expect more to be issued at the elevated stock price with only a form 4? being issued after the fact. Probably incorporated in NV. SEC won't do anything about it.
Also, looks like they may have already reverse split between 2012 and 2013. Typical scam normally associated with penny stocks.
I wonder if there was any news today on "MarketWire". MarketWire is the choice news outlet for scam stocks.
Tyler...missed the 15 top by 50% since post.
Now 13 and near bear market....bull bear bull bear all in 5 hours
...this article was paid for. Either buy bears pissed it was going up. Or by bulls that know all publicity is good. Tylers don't give a shit.
and delotte and touche are the prime scam accountants.
Toilet and Douche
Reliance on audited financials is an outdated concept. Accounting as it formerly existed - DONE.
You sign off on this filthy fraudulent crap or you go under.
There is "integrity of the marketplace."
Allowing these scams to continue does put the blocking and tackling of the exchange itself at risk. Should be interesting to see if Ms White is ready to start going after these flop houses or not.
The dollar is getting killed today and as we know from 2001-2008 "that only makes the default that much worse."
I don't see a Civil War scenario either "where 25% of a population is wiped out for no good reason at all" thus providing support for idea of "said monies." Indeed the moral strength of peace proceeds apace...keeping American kids safe from what are clearly the problems of others.
complacency....much?
Sell sell sell!
If I hurry up and sell some of my gold, I can get in on the ground floor!!
This baby's goin' to the moon.
The ironic thing is you might actually be more accurate than you think. Tulips! Get yer hot fresh tulips ova heer!
I love roses on my piano but still prefer tulips on my organ.
I hear CYNK has a job ad for a NON-GAAP accounting expert. That will be CYNK employee #2.
The ad's cost of $256 was booked under "Research and Development".
And he's based in London...so actually that 200 pounds.
Reminds me of Cybercash. I shorted the hell out of that stock and got burned.
Hello handsome. You are very photogenic.
RE: Stock valuations, I don't think fundamentals matter. Just grab a hold of this rocket and enjoy the ride.
http://www.abeldanger.net/2014/07/the-alternative-investment-market-aim....
You look exactly like your mother.
From behind
Turn around and let me see if I recognize you from prison.
Acronym = NINCOMPOOP
N=no
INCOM=income
PO=poor
O=operating
P=profit
I can't even BEGIN to imagine how much coke and how many hookers......ahem.....R&D.....can be bought with 3 billion in free money.
I presume we can pronounce the ticker as SINK which would probably be far more appropriate at some stage in the future....
there are no degrees of fake...this is just another symbol, no more fake than JPY or USD or SPX
PlusTic...You are the one who gets it. Fake is fake...COUNTERFEIT.
Then you get downarrowed for getting it. Can you believe the downarrows on your post? Fucking ONE HALF OF THE ZH Community is so fuckin' deluded to think that the USD is fuckin' real? LMAO.
We have a lot of work to do.
How many here are so deluded to think that the USD or JPY is fucking real and has fucking real value?
Backed by Debt and a promise to pay debt with more debt. Yeah...That has fuckin' value...NOT.
Well downarrow this because it is not going to change the truth.
Hey, but it's the 'idea' of a real wealth producing company that matters, at least that's the imaginative story investors tell themselves.
Yep, we've gone plaid.
pods
We can't stop, it's too dangerous. We have to slow down first.
What comes after plaid? Because you take that and what comes after is where we are now.
Up-tick for the Spaceballs reference.
Amazing what a can of liquid schwartz will do!
So I hear people are buying up homes in Florida with cash made through the stock market, what happens when the bubble pops and margin call?
stocks are not an asset until they are converted to after tax cash and even then...well cash is not an asset until it is converted to something that cannot be swept out of your bank account. Where to hide? where to hide? Such a pickle they have created.
Well I thought that Gold and Silver were safe. But I did not factor in the chances of boating accidents.
Boating accidents Shmoating accidents
Stack and Sail
For his(?) sake, I hope that one employee is a skilled lawyer...
This certainly qualifies as a case study of what "An Interesting SEC Investigation" would look like... were the SEC not busy watching pr0n 24/7.
If this isn't a sure-fire sign to move all of your holdings to cash, I don't know what is.
un...fucking....real.....
New Normal FTW!
Edit: Holy cow it's over $12 post-Zero Hedge. Somewhere, Bill Ackman is crying his eyes out over this.
At least with a tulip....you have a flower.
Or with a whore you have two lips.
What's the problem?
Exactly! What *is* the problem? It's a very cromulent business model:
Step 1: Collect underpants.
Step 2: ?
Step 3: Profit!
Minus the underpants and profit of course.
To da Moon.
That one employee is the smartest individual living
Just awesome. The name and description nail everything. CYNK "Technology" Corp, "social media" development company.
Social media development = selling 'Likes' on Failbook.
Social Media Development???
Janet Yellen's Printing Press. Fiat Currency is a Social Media.
That is what all in this country hold as a common value...the almighty fuckin' US Dollar.
Meet the next treasury secretary.
No stopping the Federal Reserve and Wall Street goosing until it does. It makes pets.com look legit.
All fantasyland now.
All fantasyland now.
It has been that way since 1913.
The Currency Bubble is about to pop.
At least they are fair... . :-)
Rumor is that AOL is looking at them -- could see a major lift from here.
......wait a minute! Why is my 9600 baud modem not connecting? When did 1998 end?
They are going to make data CDs of your social media posts and send them out through the mail.
First class postal mail is the only thing the FEDGov can't tear open and read carte blanche without warrants. They may be onto something here.
True, but you're severly limited by weight on how much you can send First Class.
No plastic vaginas and penis pumps for you!
a photo of all us mail is made, front and back
For immediate release: FaceBook (FB) today acquired CYNK "Technology" Corp for $20B in cash and stock...
That's the spirit!
no borrow anywhere to be had, of course. "manipulation" is only a crime these days if it involves lowering the price of a security.
Penny stock that traded about once a month until recently. This has Boiler Room written all over it. Remember folks, if you're going to be in stocks, it's best to buy them vs. having them sold to you.
Sounds like (2 fingers tapping on arm, pulling earlobe 5 times) Jordan Belfort?
https://www.devere-group.com/
Low class version Stratton. Call center is set up in Cyprus and they use Belfort's script. If you haven't seen Boiler Room and want the full experience, get on their call list.
The script is one psychological, dirty fucking masterpiece.
on a volume of 65,000 shares.
This guy's getting ready for the movie rights to his story.
Still gotta sell the theme that some unkown guy can make it big (really really really fast) in this loony, rigged, world.
Both parties will use it as an example of how Amerika is the greatest country in the world, and how someone started from nothing, and made a billion dollar empire in only a few weeks.
Either that, or the owner will start selling get rich quick dvd's on late-night tv.
The status quo tale must create impetii (unofficial plural of impetus) for new participants to dream big. Movie deal? Not farfetched, but unlikely. Zuckershmuck needed one to legitimize the farcebook in stone.
I also wouldn't be surprised if this stock is used for cash to change hands easily. Stocks in loonyland (planet Earth) don't (re)present companies, valuations, and products, but rather means/channels for large cash transfers.
Can't tell the difference between this and a flash crash.
What's Cramer's take?
20% cash, unsequentially numbered older style 100's only
The new 100 is straight up monopoly money. They didn't hold back this time.
Check for residual white powdery substance off that paper whether real money or not. Might be able to scrape a few Benjamin's off this thing that way too.
knuckles:
Oooo,... well played sir!
[Golf Clap]
seems an attentive regulatory type might want to look closer at this one...
buy 'em!
I am a one man company specializing in masturbation. I am more than happy to grow my marketcap to 1B and beyond and I throw a hell of a holiday party for investors.
Instead of masturbation you should try f#}%^ng. You"ll meet more people.
You did not create that.
LOL @ that b/s
The Chicken and Waffle joint IPO idea is looking better and better.
What do you expect from a company with head quarters in Las Vegas?
Titties?
Might be tough titties?
"tough titties"
You should see some of the TTs on the $2.00 hookers up here in The D.
Worse than beef jerky slices…
suits the times - fraud for everyone
reminds me of etoys - $60 stock, no revenue - when the NDX was over 5000
ONWARD!!!!!!!
That's some funny shit right there, I don't care who you are.
My kid has a lemonade stand. I think it is fairly valued at $1B. Unfortunately it is profitable, so I guess there goes my hopes.
If it's profitable, you won't need financing, so the banks are out of the loop and will shun you.
"My kid has a lemonade stand."
Pick a catchy name and pitch it as a social media company.
IPO it!
The Lemon Tree
Your local po-po must be real nice, letting yer kid run a lemonade stand without a vendor's permit and all.
IPO any turd and the fund managers will buy. Too much money chasing stocks.
tried to buy some, Arca only?
This has to be some kind of scam, a shell company to launder money thru.
I thinks it's modeled after the Steal underwear....?.....Profit idea. I wonder who is missing their underwear.
Miffed;-)
The foolish whom are holding CYNK.
To da moon...Who needs unnerware? Dey can't see da moon when dey are wearin' unnerware.
Pssst, this stock is SO valuable that I'm willing to sell you all you want and I'll even knock off 10% of the price, because it is SO valuable....
Bloomturd doesn't jump the shark anymore...They've graduated to jumping the backflipping megalodon.
U.S. Stocks Rise as Optimism on Earnings Overshadows Fed - Bloomberg
hahahahahaha~
BOIL BABY BOIL
We're all frogs in the pot now.
I wonder what the intangible asset is that's worth $3,533? I wonder if that could be collateralized?
Hopium pressed imaginarium.
The story is just too ridiculous. I there's three guys in the Goldman trading room challenging each other to a one thousand share version of Russian roulette to see who if any of them get stuck with the last shares and just laughting at anyone else who gets in their way. No matter the result, they're drinking shots and grabbing strippers at 430pm.
NAILED IT!
This has got to be EXACTLY what's going on here. Too funny!
Another gaslighting ingredient to fuck over investment trust. Keep bombing until the iron dome runs dry.
Dear Israelis,
I wish you no harm. We are after your government figure heads, just like the USA. Very bad people holding the helm of power. Once the shit storm is cleaned up, you'll get along with your neighboring countries. Be patient.
Sorry to hear they have you in bombing shelters, this is why your government officials need to go.
GAAP SHMAAP!
Why is this crazy when a guy who falls asleep at a baseball game is now suing for $10 million because he is caught on camera?
Why not? If he can get it he might as well. It's a pittance compared to what the bankers have stolen from future generations.
Principles before profits.
Who says they don't ring a bell at the top?
there must be a government contract involved, is it a coincidence that they released Duke Cunningham out of jail today?
so is this guy rich now?
More importantly, someone else is poorer.
All stimulus is fungible...
It's the American dream. The smell of wet sheets in the morning.
Hey wait! The music stopped. There are some chairs missing
Cow, -- I'm pleased to see a longhorn here. I'm 14 months now, and in pasture. My man feeds me a bucket of grain when I ask for one. There is plenty of sitting room here, but no chairs.
It's up above $13. That's over 100% gain for the day. $4 billion market cap. F-ing insance. Can't borrow to short and no options :-(.
Who are the morons buying this? I've got some turds floating in my toilet I'd be willing to sell to them.