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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"
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..another Twilight zone marathon I guess..
Since it has no income, it's probably eligible for food stamps and Medicaid, right? So that's something.
Its only up 21,116% in the past month. New norm ftw
http://www.otcmarkets.com/stock/CYNK/profile
Company Officers/Contacts:
Howard Berkowitz, President
Brian Blaszczak, Consultant
Contact InfoBelize, huh? I was expecting an address in Nigeria.
No wonder MacAfee left
C'mon guys, this is a really solid investment. There is absolutely no way this company could possibly fail. I mean c'mon - social media!!!
Like siphilis, right?
More like Fiat Currency.
A social media development company that doesn't have a website? You'd be better off investing in odorless cologne.
Here's their site. Either no one uses it, or they are not reporting revenues:
http://site.introbiz.com/
-1400 P/E? VERY GOOD DEAL!!!
You think this is a scam. Check out Magnegas. The company has everything... nepotism, scam foreign deals. fraud science, and a founder and chief scientist who is an anti-semite who thinks he has been nominated for a Nobel prize for inventing technologies that no one else believes in. Now he is into cold fusion.
Company has virtualy no sales of their product after 10 years of trying. Losses stretching from horizon to horizon. How is this thing even legal?
Carry the fascist water and everyone looks the other way.
Marion Sanchez...scammer extraordinaire. Probably everything is 100% legal as well.
He had 2,800,000 shares before the company did a 75 for one forward split in August of 2013. He then held 210,000,000 shares. No record of what he has dumped since then. But given the after hours price of $13.50 old Mario is worth $2.8 Billion on his own. Not bad for a one man operation.
I wonder how much of the buying is him luring in victims?
Is this the company using children at the border as drug mules?
up 80% today... on 57,379 shares traded
Now the interesting question is how few stock sales need to be dumped on the market for the price to collapse back to $1...
yep, reminds me of the days of the tech bubble, sans website.
Fret not, someone is going to jail.
Yeah right.
I dunno -- This administration has never been shy of prosecuting anyone that isn't a member of TPTB or TBTF. Throw the book at 'em, Danno!
Come on Doc, let me have this one fantasy.
What? Are you under the fantasy that the Fiat Currency actually has value? Being a "realist" that is your one allowed fantasy until the upcoming shitstorm. /sarc
Really this is not much different.
The Fiat Currency is a Social Media which we trade to conduct transactions. It is backed up by the full faith and credit of the US Government (*cough*, *gag*, *choke*, *projectile vomitting*)...er...otherwise known as DEBT. Furthermore it is a promise to pay...
Pay what? More Debt?
(It is like those signs at the "We Buy Gold" Shops that state, "We pay more." Yeah? Really? More than who? It is like those ads that claim that their product is "better". Yeah? Really? Yeah it is better...than a pile of dogshit.)
Yeah our US Government Officials stoop to the level of Madison Avenue Advertisers and the people buy into it.
The valuation of this stock is not all that much different than the valuation of the US Dollar. The USA has more liabilities than assets and is technically BANKRUPT. The currency is a farce.
The currency is your allowed fantasy.
First Amendment supporters dont count.
He'll only be there long enough to pick out his future body parts donor.
Something tells me that very soon Zerohedge and a lot of financial historians are going to be referring to this day.
I've posted it before but thought with Crammers face and less than zero earnings this GEM was worth posting again
http://www.thestreet.com/story/891820/1/the-winners-of-the-new-world.html
Tons of money parked everywhere, no good investments, only bad investments. So, buy the best bad investment. Try to sell it to a sucker. Don't worry. There's always a bailout.
No business?
No office?
No employees?
No product?
NO PROBLEM!!!
You just got to have FRIENDS!!!! (sing along)
https://www.youtube.com/watch?v=j8Iwmcs1hps
I should IPO my one-man tech company so I can get the cash I need for expanding one of the software products I've been working on all by myself for the past few years. Also, because we're licensees of Oracle, maybe we could get them to eventually buy us out. We'd eke out a smaller profit, but with the right investment methinks we could actually give MarkLogic a run for their money. Maybe I could even get some employees!
Don' judge - at least we generate revenue.
Wait, are you sure you didn't accidentally link to the Facebook IPO??
Facebook had revenues, some. and a web site. But this has to be a joke. Is this real life?
Might want to start here if you were investigating a pump and dump.
http://www.hotstocked.com/article/86382/cynk-technology-corp-otcmkts-cyn...
This is from June 28th
...
CYNK opened the day at $0.18 (a whopping 200% above its previous value) and remained there until 1PM when it embarked on a run that is nothing short of astonishing, even by Pennyland standards. About an hour later, the ticker hit a high of a mind-boggling $4.25 per share. Not surprisingly, the pressure at these levels proved to be a bit extreme and over the last couple of hours of the session, CYNK lost a rather big chunk of its value. When the closing bell rang, the price stood at $2.25 per share which, though not as high as over $4, is still 3,650% above Monday's value.
The spike is, without a doubt, absolutely astonishing, but it's also quite baffling because, as we mentioned already, there doesn't seem to be any immediately obvious factor that could have pushed CYNK on such a remarkable run.
...
If you read through the filings carefully, you'll see that back in August 2012, the company sold 1,086,000 free trading shares at $0.05 per share. You'll also see that in June 2013, CYNK effectuated a 75 for 1 forward split.
This means that right now, thirty unnamed investors hold 81,450,000 unrestricted shares for which they paid just $54,300. As you can see, there isn't a whole lot that could urge the said investors to cling on to their holdings.
...
http://seekingalpha.com/article/2274553-cynk-technology-promoters-push-m...
From June 18th
CYNK Technology (OTCPK:CYNK) shares soared 3650% on Tuesday after paid promotion companies simultaneously touted the company's prospects in what appears to be a coordinated effort.
...
Must have worked so well they went back for seconds and thirds and fourths now since the regulators are on top of their game....
You expect this sort shit in unregulated crypto-currency markets but the players know to expect it and play accordingly unlike in penny stawks and not only that they are doing it in a blatant and in your face manner.
This is their last filing dating to March 31st of this year.
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=122455
And of course their actual website
http://site.introbiz.com/
Because there are no shares to short or options available, I am selling some thrice rehypothecated CDS @ $10k each
It's the equivalent of selling 1000 $10 calls
It's all legit, endorse by the SEC, the CBOE, NWA, BBB, NAMBL, PTA and all those other guys
IM me and I'll get you the address to wire the funds
A company like this could work if all it ever promised was to purchase its own shares with any Capital funding via an IPO.
TARP 2 guarantee.
"What's next, a law firm called Dewey, Fuckyou and Howe?
- Robin Williams
Got to give the this "company" credit for being far more transparent and honest than the Fed. Who needs products anyway? That's so passe'.
In fairness, they apparently do have a website now at http://site.introbiz.com/ so you can see what the fuss is about. Still doesn't make sense, though. The idea has been around a while as well: http://www.nasdaq.com/markets/ipos/company/introbuzz-872419-69070
their honesty is the only remarkable thing about that stock
The ending is the Fed giving up on QE.http://clip.dj/looney-tunes-yankee-doodle-daffy-1943-skreenplay-tv-downl...
That was one I hadn't seen; laughed my arse off, thanks. Just askin', are you doing viral for clip.dj? That's an awesome tool, count me in.
Thank you Belgium.
What a day for these scam artists as they slowly belched up those shares to the fools. Do a bit of that daily until it's over.
LOL!
It's just the way it is in rigged markets.
how do I list my helpyoudiy.com site, offer say 1 millions shares and watch the share price skyrocket?
How to become a billionaire:
1. Create a corporation.
2. Issue 100 million shares to yourself.
3. Buy one of the shares (from yourself) for $20.
Congratulations! You now have a (paper) net worth of $2 billion.
Well then, thankfully I won't have to be, like, *working* for a living!
Close call, bitchez!
More chances to IPO shell companies. Loads of money to grab.
More money than there are investments.
For a finaincial criminal or con artist it doesn't get better than this.
who here bought PCLN and held all these years?
Dolts probably thought it was CKNY
Wow, Lenny must have finally gotten out and is cashing in big-time.
In reality this is probably the most undervalued company on the market. They sold 100% of their inventory last year, manufacturing costs could not be lower and the level of automation across the entire business allows for 1 person to run the entire company.
BUY BUY BUY
Is that balance sheet stated in thousands or millions? Oh, it's in dollars. Who's buying this crap?
More proof that this stock market and many around the world have a lot in common with "girls gone wild" the video of college girls on spring break. They are crazy out of control. Across the world people have grown very complacent as money has continued to flow into intangibles and promises.
Currently the market is all a twitter and locked in a "greed and stupidity loop." The loop can be explained as follows, stocks are rising so why get out, not getting out is causing the stocks to rise. When stocks do pullback it is a buying opportunity. Yes, we are indeed experiencing a double down and let it ride mentality. I don't have to explain the greed part. More about this subject in the article below.
http://brucewilds.blogspot.com/2014/06/stock-markets-and-girls-gone-wild...
Does this mean I can take my dog public?
Calm down ! No website, no revenue, no product, and no assets ... nothing can go wrong! It's a no-brainer.
Time for a buyback financed by high grade paper from GS.
1929.
Rammmmmone! Get me an idea and a hedge fund manager, stat!
Does anyone still want to believe we have a market, of any kind?
The only question, now, is whether you can get the right people and computers to start talking, and you can be as rich as you want to be, because the money will either be HFT ones and zeroes or some other schmuck's who's going to have zero in very short order.
Can we the view the Insider selling schedule / reports from the SEC ?
This is actually encouraging. Smells like smoke.
phantom bozo rules the bozo world wave, media
stupor dome, ongoing.
That picture of Cramer at top should have a fucking flap over it. The mere image of that prick makes my stomach churn like I just chugged a tall, steaming glass of hog fat.
Sorry, carry on....
Cramer and his buddies win thanks to the Federal Reserve. The Federal Reserve created the bubbles.
Worthless.com
Worthless.com
Wherein I allow it to occur to me that this company's symbol is pronounced, "sink"
doom is the new gateway
to prosperity.
it is a double wise
sapien, sapien thing.
anyway poems*tm
This stuff only happens in China, the US of C that is.
Please, somebody que the pets.com sock puppet, and soon.
No website
No revenue
No products
No assets
CIA, right?
The stock, bond, commodity and currency exchanges have been reduced to gambling dens whereby the more powerful traders with deep pockets move the markets to maximize their own profits at the expense of the remaining not so powerful players. The big boys have enormous money power to move the markets in the direction which results in maximum profits for themselves. They effectively use the media to lure the other players in the market to a position where they would incur maximum loss.
The markets continue to rise till all short positions in the market are covered and the majority of traders move to the long side. Once this is done the market falls till all long positions are closed and short positions undertaken. Then rinse and repeat. The price mechanism has little to do with the actual demand, supply, fundamentals or state of the economy.
www.marketoracle.co.uk/Article40231.html
Thinking of opening a short position tomorrow for $10,000. It's a virtual certainty we will see stock in the pennies by August.
Someone place enlighten me why I shouldn't. I can easily afford a temporary 5x shock while waiting for the 99% inevitable drop.
If you could do options, it would be better, Good chance you'd get short squeezed out waiting for the stock to drop.
Probably will get squeezed as stock doubles or triples but it will surely end up back in penny territory.
Puts the stock indices in perspective.
Marlon Sanchez should get a Nobel prize in economics and Paul Krugman's job. He could be Fed Chairman.
When is that greatly profitable company AOL going to buy it? Sounds like something right up Armstrong's alley. <sarc>
Is this a joke? i don't get it. i am about to look upCYNK.
Mmm, those tulips sure look purrrdy!
"Undisputable?" You mean "indisputable?"
It is worse than that.
Take the global markets and tally the aggregate market cap.
~70trillion USD perhaps a bit less.
Use WhatsApp. 1 to 19 billion, 50 employees.
184,210 to 3,500,000 employees for all listed companies on earth.
Take Cynk, 3 billion, 1 person.
23,333 employees for all listed companies on earth.
Anyone still want to mention the buggy whip maker fallacy?
The number of jobs is plummeting, productivity is soaring, the owner class is getting mega wealthy but the other 99.95% will have no meaningful job, work, or income.
What could go wrong?
One person in 2000 or 40,000 or 300,000 will have a kick-ass 150,000 EUR/yr creative job at an awesome company and everyone else will be living in District 9 staring up at Elysium.
Thanks Tylers. Everyday I find something on ZH that makes me say 'you can't make this shit up'. This just seems like it is the back-door funding of a future black flag event to me. Everyone move along. Nothing to see here.
Long live Bitcoin.
I also lack employees and revenue and a website. Please send money to:
Good Compny, Inc-LLC
#4-A Charles Blvd (Up Stairs)
Detroit, MI 48208
Fuck Wall Street. Fuck the SEC. Fuck the algos.
I placed an 'Sell Short ' order for $18 and then $17 and my order was
DECLINED.
Wow, it's at $19.07 as of 10July at 12:51 EDT. Hahaha....this is insanity (moreso than normal). And dude, you weren't allowed to short the stock? I was about to look into doing just that.