Pure Madness: Revenueless, Assetless CYNK Soars Over $5Bn; Bigger Than GameStop, Cablevision, Jabil Circuit

Tyler Durden's picture




 

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:

 

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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Thu, 07/10/2014 - 11:11 | 4943338 buzzsaw99
buzzsaw99's picture

wow, the half-life of recent (bullshit) ipos is down to less than a year

potbellied ipos - lulz

Thu, 07/10/2014 - 11:13 | 4943356 THX 1178
THX 1178's picture

Less than a month tbh.

Thu, 07/10/2014 - 11:16 | 4943365 SoilMyselfRotten
SoilMyselfRotten's picture

MOAR MOAR MOAR, how do you like it, how do you like it....

Thu, 07/10/2014 - 11:32 | 4943420 AlaricBalth
AlaricBalth's picture

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

Thu, 07/10/2014 - 11:32 | 4943449 gh0atrider
gh0atrider's picture

It's different this time.  You wouldn't understand anyway.

Thu, 07/10/2014 - 11:40 | 4943501 CH1
CH1's picture

This has to be the icon of the age.

Thu, 07/10/2014 - 11:42 | 4943508 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Short of the century if you willing to wait a few weeks ..... months...... maybe years?

Thu, 07/10/2014 - 11:46 | 4943524 synergize
synergize's picture

Efficient markets!

Thu, 07/10/2014 - 11:56 | 4943568 dontgoforit
dontgoforit's picture

Is Madoff still alive?

Jon Corizine just found a new way to pay back the missing $1.2bn.

Thu, 07/10/2014 - 11:59 | 4943578 flacon
flacon's picture

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 $! 

Thu, 07/10/2014 - 12:06 | 4943620 dontgoforit
dontgoforit's picture

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

Thu, 07/10/2014 - 13:00 | 4943918 fx
fx's picture

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.

Thu, 07/10/2014 - 13:13 | 4944000 SamAdams
SamAdams's picture

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...

Thu, 07/10/2014 - 14:41 | 4944232 AlaricBalth
AlaricBalth's picture

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.
Thu, 07/10/2014 - 13:37 | 4944102 Tall Tom
Tall Tom's picture

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.)

Fri, 07/11/2014 - 06:33 | 4946537 Titus
Titus's picture

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

Thu, 07/10/2014 - 12:07 | 4943623 Save_America1st
Save_America1st's picture

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?

Thu, 07/10/2014 - 12:17 | 4943665 rehypothecator
rehypothecator's picture

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.  

Thu, 07/10/2014 - 12:21 | 4943687 dontgoforit
dontgoforit's picture

Maybe a 'Fed-like' supply.

Thu, 07/10/2014 - 12:24 | 4943698 Manthong
Manthong's picture

No options on this pig?

Boy, it will be a bloodbath when the criminals reset the price at a buck (or less)..

Thu, 07/10/2014 - 13:01 | 4943927 fx
fx's picture

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.

Thu, 07/10/2014 - 16:44 | 4944878 Zerozen
Zerozen's picture

Paging Tim Sykes, paging Tim Sykes please...

Thu, 07/10/2014 - 13:25 | 4944060 SamAdams
Thu, 07/10/2014 - 13:44 | 4944133 laomei
laomei's picture

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?

Thu, 07/10/2014 - 17:31 | 4945012 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

What are you left with?  I guess I'm missing something here.

Fri, 07/11/2014 - 00:18 | 4946277 laomei
laomei's picture

You are left with a giant pile of money.  The banks is left with worthless stocks.

Thu, 07/10/2014 - 13:16 | 4944019 thamnosma
thamnosma's picture

A bit frustrating since one is assured this POS will crash only the timing is risky.

Thu, 07/10/2014 - 12:03 | 4943597 Freddie
Freddie's picture

With that market cap - they can now hire Goldman and learn how to really steal.

Thu, 07/10/2014 - 12:22 | 4943690 dontgoforit
dontgoforit's picture

Hell, it probably is Goldman!

Thu, 07/10/2014 - 11:42 | 4943504 max2205
max2205's picture

20.50....6 bill and counting

Thu, 07/10/2014 - 15:41 | 4944653 max2205
max2205's picture

40% from high now at 13

 

Tyler killed the golden goose

Thu, 07/10/2014 - 11:42 | 4943507 Chief_Illiniwek
Chief_Illiniwek's picture

"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.

Thu, 07/10/2014 - 11:42 | 4943510 AlaricBalth
AlaricBalth's picture

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." 

Thu, 07/10/2014 - 11:50 | 4943534 dontgoforit
dontgoforit's picture

Sounds lke if they close shop next week they will not have broken any 'law.'

Thu, 07/10/2014 - 11:31 | 4943451 Agent P
Agent P's picture

Are you saying Sanchez is dirty? 

Thu, 07/10/2014 - 12:16 | 4943658 Save_America1st
Save_America1st's picture

good one.  Dirty Sanchez Pump and Dump, LLC.

Thu, 07/10/2014 - 11:36 | 4943470 KnuckleDragger-X
KnuckleDragger-X's picture

By the new and improved rules of the market you've just described the perfect investment.

Thu, 07/10/2014 - 11:55 | 4943563 ejmoosa
ejmoosa's picture

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.

Thu, 07/10/2014 - 11:56 | 4943569 Oldwood
Oldwood's picture

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!

Thu, 07/10/2014 - 12:10 | 4943635 IANAE
IANAE's picture

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.

Thu, 07/10/2014 - 12:16 | 4943661 Oldwood
Oldwood's picture

I don't think the gamblers believe you.

Thu, 07/10/2014 - 11:41 | 4943499 BuddyEffed
BuddyEffed's picture

Next thing you know, CYNK will be buying treasuries, and out purchasing Belgium.

Thu, 07/10/2014 - 12:01 | 4943582 flapdoodle
flapdoodle's picture

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!

Thu, 07/10/2014 - 12:24 | 4943703 kchrisc
kchrisc's picture

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.

Thu, 07/10/2014 - 12:31 | 4943726 Cacete de Ouro
Cacete de Ouro's picture

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.

Thu, 07/10/2014 - 13:20 | 4944036 thamnosma
thamnosma's picture

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.

Thu, 07/10/2014 - 13:43 | 4944130 Tall Tom
Tall Tom's picture

I posted my suspicions about the CIA and CYNK on the thread about CYNK yesterday.

 

I agree.

Thu, 07/10/2014 - 14:39 | 4944397 kchrisc
kchrisc's picture

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.”

Fri, 07/11/2014 - 00:23 | 4946288 kiwidor
kiwidor's picture

CYNK = sink.   well spotted.

Thu, 07/10/2014 - 12:50 | 4943853 konputa
konputa's picture

Sanchez. Dirty dirty Sanchez.

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