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Pure Madness: Revenueless, Assetless CYNK Soars Over $5Bn; Bigger Than GameStop, Cablevision, Jabil Circuit
Well that escalated quickly... CYNK Technologies - which we first exposed to the world here - has gone from dumb to dumber. "Traders" just bid CYNK at $18.50 $20.32 this morning (on less than 100,000 shares) meaning this asset-less, revenue-less shell of exuberance now has a market cap over $5.4 $5.9 billion.
This means our "price target", purely on fundamentals of course, was hit in less than a few hours:
CYNK finding a second wind. Let's do this: $5 billion market cap target
— zerohedge (@zerohedge) July 9, 2014
That leaves CYNK more "valuable" than all of the following companies...
Incidentally, owning 210 million shares, the CEO, and only employee, of CYNK, is now among the top 400 richest people on earth.
As a reminder, this idiocy is a glimpse of what the Fed's central planning has done to the S&P 500.
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wow, the half-life of recent (bullshit) ipos is down to less than a year
potbellied ipos - lulz
Less than a month tbh.
MOAR MOAR MOAR, how do you like it, how do you like it....
Cynk is an illusion. Operates out of a Regus Virtual Office in Las Vegas. The company'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."
The CEO Marlon Sanchez claims in his bio to have been the primary spokesperson for the Medical Tourism Industry council in Tijuana,Mexico. Yet after a few phone calls, the organization doesn't exist. Sanchez is a front man.
The company's lead counsel, Harold Gewerter, is notorious for representing pump and dumps and allegedly placed one of his paralegals into the position of CFO of one of his client companies (SEFE).
"First Gewerter‘s firm creates a shell, then they install one of their own as CFO, but now what? By the end of 2008, SEFE (fka MDCL) has still not generate a dime in revenues, and has only$272.00 in the bank. By the end of 2009, according to their 10K, the company still has no revenues and only $11 remains on the balance sheet.
"Gewerter has been practicing law since 1979, and his business appears to be almost entirely securities law and litigation. The Las Vegas law firm of Harold P. Gewerter is connected to many penny stocks, including two that seem to do nothing more than create and promote more reverse merger trash! Check out the website for Gerwerter’s Crown Equity Holdings (CRWE) a one and a half cent special, and under a penny pinksheeter Public Company Management Corp (PCMC). However, Harold is most well known for his role as John Edwards‘ attorney in the CMKM Diamonds (CMKX) scam."
https://buyersstrike.wordpress.com/2012/04/24/the-mass-psychology-of-suc...
http://www.siliconinvestor.com/readmsg.aspx?msgid=28112150
It's different this time. You wouldn't understand anyway.
This has to be the icon of the age.
Short of the century if you willing to wait a few weeks ..... months...... maybe years?
Efficient markets!
Is Madoff still alive?
Jon Corizine just found a new way to pay back the missing $1.2bn.
Damn! No options available for this stock. If there were I'd buy puts and just hold to expiry. It's either lose all or win a million $!
Here's a piece of what this company is supposed to be about:
The company's stock, which the folks at ZeroHedge first alerted us to, has gone from $0.10 on June 17 to $14.71 as of Wednesday's close. At its current stock price, the company's market cap is $4.29 billion.
This is a gain of more than 24,000%. For some perspective, Apple, one of the most successful companies and stocks of the last generation, is up about 18,000% since it went public in 1980.
But there is, as you could imagine, a slight problem with CYNK: It's not clear if there's any value to it.
The website associated with the company is introbiz.com. On introbiz.com, under the "About IntroBiz" section, it states that, "Thru our marketplace you may both buy and sell the ability to socially connect to individuals such as celebrities, business owners, and talented IT professionals."
This premise, as we understand it, is basically a Facebook-like social network where you would pay IntroBiz (or CYNK, or whoever), to connect you with someone else.
Maybe someone cool or famous. Who knows?
Read more: http://www.businessinsider.com/cynk-technology-2014-7#ixzz375A8V1Aq
Zh as well as others seemingly just trapped quite a number of pretty dumb folks into a giant short squeeze by alerting them to CYNK. And if people keep piling in on the short side who have no clue how a stock with no exchange traded options behaves, then I wouldn't be surprised to see it hit triple digits. Sure, the business is worth zero and will ultimately the stock will trade accordingly. But before that, lots of bears and bulls will get slaughtered along the way.
Yes and no. Yes, the publicity has put on a squeeze, No, ZH'rs are not buying. But, we would short this bitch into oblivion if shares were available. The naked short will be huge...
Marlon Sanchez is gone. Javier Romero is the new CEO after CYNK's corporate move to Belize. Corporate counsel Harold Gewerter is still on board and is probably running this charade from Vegas. What doesn't jive is the fact that Sanchez resigned on 2/20/2014, yet signed, as CEO, a Form 15 on April 10, 2014. Called the corporate office number, 305-705-5057, which is a Miami cell phone, and got a message to leave a voicemail. The corporate office in Belize, Coney Drive, Suite 400, Belize City, was formerly a company called Strategem FX, Ltd, an offshore broker/bucket shop which lost its license to provide international financial services, according to the Belize International Financial Services Committee.
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=122456
INFORMATION AND DISCLOSURE STATEMENT
*THIS STATEMENT HAS NOT BEEN FILED WITH FINRA OR ANY
OTHER REGULATORY AGENCY
All information contained in this Information and Disclosure Statement
has been compiled to fulfill the disclosure requirements of Rule 15c2-11 (A) (5)
promulgated under the Securities Exchange Act of 1934, as amended. The
enumerated captions contained herein correspond to the sequential format as set forth
in the rule.
Item 1: The Exact Name of the Issuer and its Predecessor.
Cynk Technology Corp., formerly Introbuzz (hereinafter
referred to as the "Issuer" or the "Company")
7. Has the Issuer had a change of control? On October 18,2011, John Kueberresigned as President, Secretary, Treasurer and director and Kenneth Carter was elected President, Secretary, Treasurer and Driector. On April 17, 2013, Kenneth Carter resigned as President, Secretary, Treasurer and Director and Marlon Sanchez was elected President, Secretary, Treasurer and Director. On February 20,2014, Marlon Sanchez resigned as President, Secretary, Treasurer and Director and Javier Romero was elected President, Secretary, Treasurer and Director. Javier Romero is the President, CEO, Secretary, Treasurer, and Director of Cynk Technologies, Inc. Since 2009 Mr. Romero has been a Fisheries Officer for the Government of Belize based out of Belize City. The following table sets forth the ownership for each class of equity securities of the Issuer owned beneficially and of record by all directors and officers of the Issuer as of March 31, 2014. Name and Position Common Stock % Owned Javier Romero, 210,000,000 72% Pres, Sec. Treas. and Dir.I would not touch this with a 10 foot pole much less your pole.
Getting involved in a scam to steal, whether it is on the long side of the trade, or, on the short side of the trade, is immoral.
This is an empty shell made up of hopium pressed imaginarium. It is a lie from Hell.
PRINCIPLES BEFORE PROFITS. When will they learn?
(Today my next door neighbor's kid asked me for $824 to bail out a storage locker. This just happened about a Half hour ago. It seems that his estranged wife had continuously lied to him about the bill being paid. Dishonesty only breeds loss and anguish. The lie will cost them. They deserve to lose the contents. Perhaps they will learn. Perhaps not.)
Yep. That's why Jordan Belfort is rotting in jail right now for running the same scam...oh wait, he's out living free and clear and wealthy. He had a lot left stashed despite the court proceedings and imprisionment. These guys are working with the majors, either money laundering or avoiding taxes. The little guys are just caught up for the ride. Morality doesn't enter the picture.
If you are interested, Belfort is charging $2-4k for his "straight line" sales course. Of course he's remorseful, yet somehow still driving a porche and wearing a gold watch.
jordanbelfort.com
this guy has discovered the perfect business model. /sarc
So he's super rich now (on paper, right). Who in the hell is ever going to buy all that stock off him so that he can realize those gains???
***This guy's going to jail some day soon, isn't he?
Well, 100k shares at $20 is 2 million. It's not 5 billion, but it's a start ... and he has a lot more shares where those came from.
Maybe a 'Fed-like' supply.
No options on this pig?
Boy, it will be a bloodbath when the criminals reset the price at a buck (or less)..
If there were options I would short it. Since there aren't any a prudent risk management approach says to stay away as far as possible.
Paging Tim Sykes, paging Tim Sykes please...
http://www.otcmarkets.com/stock/CYNK/quote
You don't need to sell the stock at all, what you do is you take out loans against the stock. Then you simply do no repay the loans and the sucker bank who gave you the loan takes the stocks which are entirely worthless. Nifty eh?
What are you left with? I guess I'm missing something here.
You are left with a giant pile of money. The banks is left with worthless stocks.
A bit frustrating since one is assured this POS will crash only the timing is risky.
With that market cap - they can now hire Goldman and learn how to really steal.
Hell, it probably is Goldman!
20.50....6 bill and counting
40% from high now at 13
Tyler killed the golden goose
"You wouldn't understand anyway."
You're right. I've just never had the time to earn a money-laundering degree from one of the various online-universities that adviertise on cable TV.
On April 10, 2014 CYNK filed a Form 15, which is a suspension of duty to file reports. So basically CYNK is going dark.
e. Rule 12h-3 suspends reporting obligations at any time during an issuer’s fiscal
year upon filing with the SEC a certification of termination on Form 15, if the following conditions
are satisfied:
• The issuer is current in its Exchange Act reporting obligations;
• The issuer has fewer than (1) 300 record holders; or (2) 500 record holders and assets not
exceeding $10 million on the last day of each of the issuer’s three most recent fiscal years
(the “Second Test”); and
• During the fiscal year for which the issuer seeks to suspend reporting (and if the issuer is
relying on the Second Test during the two preceding fiscal years) the issuer did not have (1)
a Securities Act registration statement relating to the subject class of securities become
effective, or (2) a registration statement that was required to be updated by Section 10(a)(3)
of the Securities Act2
"A filing with the Securities and Exchange Commission (SEC), also known as the Certification and Notice of Termination of Registration. It is used by publicly traded companies to revoke the registration of their securities. SEC Form 15 may also be used to notify the SEC and investors of a company's intent to cease filing various required forms because their securities no longer fall under certain filing requirements."
Sounds lke if they close shop next week they will not have broken any 'law.'
Are you saying Sanchez is dirty?
good one. Dirty Sanchez Pump and Dump, LLC.
By the new and improved rules of the market you've just described the perfect investment.
Now if we could just get the DJIA and the SP 500 to add them, we could really get these markets moving.
And to think the SEC put the halt on Growlife (PHOT) for rising from .14 cents to .54 cents....because the investors needed protection.
If they are worth this much without earning a dime, imagine what they will be worth if they make money! The bet of the century. Gamblers absolutely love this shit!
there's no bet if no one's buying when the time comes... either before or after the SHTF... in other words, don't bet against the house.
I don't think the gamblers believe you.
Next thing you know, CYNK will be buying treasuries, and out purchasing Belgium.
Oh ye of little faith! What you don't know is that CYNK has a FOOLPROOF business plan. Its GUARANTEED to make money, and will revolutionize commerce.
Get this: CYNK is going to... sell dog food and pet supplies over the internet!
This Ashkenazi Gewerter must have friends in high places to enable him to get this stock so high.
Looks like some "connected ones" may be cashing out.
Big ass warning light and klaxon horn screaming "get out" now while you still can.
CYNK sounds like a CIA money laundering scheme using cutouts as the executives/actors in the scheme and the shell company as the vehicle. Maybe all these associated pump and dump companies are CIA fronts also. Wouldn't be surprising. Sanchez may be a long standing cutout.
Funny if ZH has stumbled on to a CIA washing op.
A few years ago I read some "expose" regarding exactly that activity. Right now I can't recall the names, but it included operators of a known website (a financial one with message boards for various promoted stocks and such) and known individuals in the Virginia area literally with connections to the dark side.
I posted my suspicions about the CIA and CYNK on the thread about CYNK yesterday.
I agree.
You are so correct.
I think that like the East Germans, we, the American people, will be shocked when these criminals fall and their REALLY dirty laundry comes to light. One thing that I think that we will find is how much the CIA owns and controls the DC US economy and how much of the American country the DC US pols and crats have sold off to foreigners.
“I’m selling shares in my guillotine. Returns will be head and shoulders above anything else you can invest in.”
CYNK = sink. well spotted.
Sanchez. Dirty dirty Sanchez.
I bet you cant find a borrow to short this. The business sounds as legit as ACLN (former ticker ASW, which was eventually affectionately known as 'asswipe'). ACLN was a company whose revenue was derived from used car sales in Africa. Of course it was a complete sham, and the 26-year old CFO took the fall.
Apparently in today's market, one doesn't even need to fake some revenue to become a fiat-denominated paper billionaire.
Sanchez can't really cash in all those shares but no doubt he's been selling the entire run-up. Question is who the hell is buying?
Perhaps it is the pawnbroker downstairs from me? Or people like him? He plays that Penny Stock Market and gambles.
He cannot read a Chart and understand rudimentary Technical Analysis, a pigeon for the plucking.
And yes he gets plucked.
I put 1k on it and made 40k...thanks
Ponzified. Good on you, Max2205.
I just scored 100 shares! It is the new Tesla for whatever they do.
I hope that you are jesting.
Don't participate in frauds.
Place your Principles before Profits.
That is the way to slay the beast which has been raping America and destroying honest investments, people, and families.
Did they spend $39 dollars (their assets) on one, slightly used sock puppet as a mascot?
pods
They bought a sock, but I don't think it's for puppetry....
Hell that's nothing TWTR is a $22B company bitchez. HAHAHAHAHAHA!!!
FASB removed the leverage requirements for working capital years ago, so a sock puppet is pushing it. It's probably a half empty bic pen someone had on them at the time of signing, christ help them if they ever lose that pen. Company might be worthless....oh wait.
Does anyone here remember TGLO (the globe .com - opening week goes from 10 or 15 to 100)
Yeah - he's called B. Soetoro.
Marlon Sanchez must be the smartest CEO on the planet to pull this off. i wonder if he ha some friends over at GS that will allow him to naked short sell the piss out of this crap and make a fortune on the way down. for us unconnected folks, their are no shares available to short
Did you give it a shot and nothing was available? It's such an obvious call.
Come on, this is too easy. No assets means no liability... Duh. They are poised for perfection.
There! Now king me bitchez
All the hallmarks of a classic pump-n-dump. The bottom will drop out and a lot of folks will be left holding the bag.
OK; if this so 'known' WTF is the FTC?
Where is the FTC? Come on! They have been absent for years. See: Jon Corzine.
Same place they always are. Sitting on their asses doing nothing about anything.
Who do you think is buying the shares?
they will be left holding everything PLUS a dirty kitchen cynk
Its a Company any Greenie can love..they dont pollute..they dont make anything...
You raise an interesting point. IMO productivity cannot continue rising without environmental destruction. Other occupations must come to the fore, those that do not consume many resources, like blogging!
And all this time governments have been using taxes to reallocate wealth....
This is the ticket right here. Voluntary wealth redistribution in weeks, if not days or hours.
I can't wait to see this sucker crash !
I hope it does before I run out of beer
Fuck you Bernanke
No....the powers that be...bernank,yellen obama,IMF,BIS,FBI,IRS,CIA,NSA....all the 3 letter acs.
No...they have fucked you(and me)
What I wonder about....when you have a house of cards....even when you are at the top...when one gets pulled from the bottom....everyone comes fallin down
looks like pump dump, short-squeeze allowing the run-up to go longer & higher. Still being promoted in yahoo forums. I imagine they'll be trying to sell into this from various offshore accts?
BUY NOW OR BE PRICED OUT FOREVER
Bankers, the only assholes who could push Jesus to violence.
Bankers, or FOREX traders?
I think the actual crime was creating a cartel and using their control over currency conversion rates to severely price gouge. Unfortunately, Jesus did not explain clearly whether it was the cartel in general that was wrong, or what an acceptable profit margin is.
Bubble? What bubble?
Just a few buybacks away from mega-cap status.
this is going to end with lots and lots of wealth transfer.... just not to the guys buying at the moment...
Let me know when it gets added to a major index.
Belize companies are the new blue chips.
When is Kim Dotcom going to enter that sell order?
You can't make this shit up ....
The market cap now matches what Obumbler just asked congress for .... Is this how Zero is going to get around congress and fund the pesky border problem thingy? FOARWARD, but there will be no change left after he spends it all.
Well, we could make it up, but it's a helluvalot more interesting when it's non-fiction.
I did a quick calc....their market cap is about 4 million ounces of Gold.
Me too...their market cap is about 400 million ounces of dryer lint which is fully convertable into three hand jives and a high five.
Shell games, smoke & mirrors, or real magic?
No, all those things require dedication, talent, bravery and skill to manage.
This is more like Pets.com where an idea generates billions in funding to lose other people's money hand over fist. e.g. Real money loss to allow for a tax write off for corporate investment groups. To a corporate investment house they don't give a fuck, they NEED something to pretend that the entire thing isn't wired.
So how to do that?
You go out of your way to make a sword to fall on, but make sure it's made of paper to maintain the illusion of 'fairness'. Unfortunately the retail investor doesn't know that and usually loses their shirt and the tiny amount of money they've shoveled in afterwards. It's part of the predatory practice of the entire market since 1982 with the worthless pig fucker Reagan who helped set up , literally, every market shit storm since. And by proxy killed all the pensions by accident 30 years after the fact regardless of the nation a person stands in (just wait for this 'rose' to pop up again). It's all so amazingly crooked and twisted. In order to "win" the market the last thing you ever want to is actually have a good idea or product. All you'll end up is broke and sad.
Fool's gold is what defines the 'modern stock market'. Which is really an out of control scam none of the TPTB can escape from themselves now. All the people that honestly invested believing that they were helping create a productive future are gone. They were wiped out 7 years ago.
Only people left in that rat trap are the rats that set it up and it'll be snapping shut soon enough once another metric/number is reached then we can all get on with the business of fixing it up.
Here a hint: it's not a financal number, or fiat, or war, or an employment number, or even a manufacturing index. "It" has to do with something completely unrelated optically but the entire system is completely dependent on it. Without "it", it all shuts down tomorrow unilaterally, full stop, done, finished, ended, etc. It's a primary lynch pin to the entire world that people see every day but would never consider it's relationship to how business functions.
Trust or Oil?
Troil?
CONFIDENCE.
A loss of confidence, usually which happens after a major violation of trust, will destroy any business relationship.
Good job. You get a cookie.
<Gives cookie>
Business is a tiny aspect and nearly insignificant piece of society. Where as confidence is a foundation where things are built to last.
Good Cookie
*munches down cookie*
I agree wholeheartedly.
Truth (fidelis) is that which I value above all.
For instance without confidence in the common currency we have no common currency.
Shorting CYNK.
Good luck with that. No options so I'm watching on the sidelines.
Plenty of CYNK shares to short but with high commission.
CYNK phonetically sounds like "Sink".
Cynic
I thought it was a NY clothing store...
I'm going long. You'll be squeezed out, but I do have to thank you for helping me obtain more monopoly profit.
I am going to take out a HEILOC loan on my shack to buy CYNK.
Seems like a candidate for fraud or money laundering investigation...regulators?
Wrong on both counts, usually what happens is they hide them for a little while on a board of directors someplace (IMF/UN/Government) then promote them somewhere else.
wealth transfer. my guess is that either the clintons or al gore own a large block of this pig.
Company formerly known as Solyndra.
This could be obama's big payback.
seeking alpha sez bear trap: http://seekingalpha.com/article/2309115-cynk-technology-is-the-new-schem...
Lol... this pig was down 25% earlier when I checked on it.
This is the best-est stock ever. What do they make or do?
It was trading at 0.18 cents on 6-17-2014. $19.70 now. LOL!
They're like the Fed. They make rich people out of thin air.
They complete directly against my pie plates on a stick monopoly which is valued at a bazillion dollars yet unlisted, unknown and in a desk drawer on a napkin.
They run a website where socialites sell their connections to entreprenuers who think that having the phone number for some famous person's agent is the key to getting their project off the ground.
Since the company claims zero revenue, at this stage they must be operating free - i.e. no commission. Either that, or they are lying and they are making a profit, which is the only way I can see their filings being severely suspect.
Everybody keeps looking for fundamental value to take revenge.. are you people watching them un-do today's "selling panic"? I said losses would be halved by noon and I was wrong; it was an hour early! If you fight the Cabal you will go poor. Let them work for you and put your profits into gold.
While I am certainily not shorting....I can guarantee the moment I go long....the whole fucker will come down.
Please go long
Can't throw that far anymore.
What's in your wallet?
Their hand apparently.
Man...if I were in charge of CYNK I'd be thinking it's Corzine Time.
Good time for some stock swap acquisitions.
Flight to yield!
Looks like a pump and dump or money laundering scheme.
With less than 200,000 shares trading hands at values around 17 dollars. That's less than 3 Mill at the large end. Not sure why it's worth noticing.
I don't know how a blip of this size involves the Fed and S&P. It doesn't really bring into question the idea of an efficient market since PINK SHEET OTC markets are NOT EFFICIENT!
It's a Belgian bouncer.
yes but once they issue MOAR stock then the hedges will feel more comfortable owning and the stock can really take off, assuming there is a lot of short interest to drive it higher.
the entire FED S&P is a pump and dump laundering scheme
Regards from Belgium.
Just think how well they are positioned in this era of deflation. They have no assets that are going to lose value.
Hoary Shite....The perfect Zero-Sum Stock....
All that capital. No assets. Hmm, I wonder who's gonna take the hit on this one?
You have to wonder how this is even possible. Who in their right mind would be buying? Even for a pump and dump, this is insane. It's obvious that something very nefarious is going on with this company. With 291m shares outstanding, who owns shares and isn't selling?
Last Yahoo quote up 20% to $17.70 on "massive" volume.
Yahoo news headlines are saying "no revenues, assets or employees" and ask "does company even exist?" and people are still buying.
You can't make this shit up.
Almost all stocks are now sufficiently pumped up for the muppets to buy and get locked in through the bailed in mutual funds.
What's the lowest commission you could pay to have three or four puppet parties trade the same 1000 shares back and forth at ever higher prices?
Are there HFT for OTC yet? Can you quote stuff and cancel bids to drive price in this sucker?
Nefarious? This is Obam-Amerika. Everything going on is nefarious.
Horseshit, no one sees it coming -- NO ONE.
swell--if persons in the loop (the one in the office) have been buying the stock with zero interest loans then its time to get a zero interest loan to buy back the shares--all of um
When's the first bond offering? Mehhhh just sell about $5B in ten year sludge and that market cap will zoom right past $20B. Booyahhhh!
Gartman gonna announce entering long position in this piece of shit to let us know the momo monkeys are done with this slut?
OK, so how do I do this for myself?
-30-
Cramer just said it is a steal at $18.
His Bear Sterns recommendation was awesome as well.
http://www.huffingtonpost.com/2008/03/23/jim-cramer-kind-of-owns-u_n_929...
Madness. Complete and total madness.
If 19 is madness what will it be called next month trading through 40?
What do they make?
They make things up.
So, what do they make?
They make things up.
sheesh
OMG! I'm going long! I need to get in this.
Thanks Tyler.