Skip to main content

 Well, technically CYNK Technologies does exist. It just doesn't exist in any way that you and I would think of something, how should we say, actually existing.

 Cynk is headquartered in Belize, but was incorporated in Nevada in 2008. Its main contact number is in a Miami area code.
 The 1-800 number listed in the SEC filing is "unassigned," according to a phone-company recording.
   According to quarterly statements it has $39 in assets, nearly $52,000 in liabilities, and no revenue.

  Cynk Technology, formerly known as Introbuzz, is a social-networking company that runs a bare-bones website called IntroBiz. The website does in fact exist. The stock listing exists. It's just everything else about this company doesn't exist.
  But that hasn't stopped people from buying it.

IntroBiz is apparently "a marketplace [where] you may both buy and sell the ability to socially connect to individuals such as celebrities, business owners, and talented IT professionals." It has pictures of Leonardo DiCaprio, Angelina Jolie and other celebs, suggesting that your dream of becoming besties with Leo and/or Brangelina will finally come true, thanks to IntroBiz.
 In the matter of a few weeks this "company" has gone from 6 cents a share to over $18 a share.
   Thus making it worth more than companies that have the unfortunate liability of existing.
  However, CNBC has assured us that there is no tech stock bubble. So you should all relax and buy more stocks.

12:38 PM PT: h/t to MGross for this link

 Sanchez was listed as the company’s only employee, holding the titles of president, chief executive officer, chief financial officer, chief accounting officer, secretary, treasurer, and sole director on its board. The filing announcing his appointment said he worked as a spokesman for the Tijuana medical tourism industry and a San Diego-area medical clinic.
   BuzzFeed called two phone numbers listed for Sanchez, one was out of service and Sanchez did not return a message left on the other. Sanchez told the Wall Street Journal, “I am no longer associated with this company in any way, shape or form.” A document from the company’s lawyer says that Javier Moreno took over the company in February and owns 210 million shares which he bought from Sanchez. Moreno lives in Belize City, Belize and is the company’s sole director and executive officer, according to the letter. The letter is dated June 11. Six days later, the company’s stock saw its first real surge in trading, with 367,000 shares changing hands while the price rose from 18 cents to $4.25. Before June 17, the most shares that had been traded was 1,900 on May 15, with most days seeing no trading.
EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site