Cynk Tech. Corp (fka CYNK)

[DrContango]

The June 11 Annual Report has a line entry capitalizing "website" at $43,000.

It's aptly listed as an "intangible asset".

The Professor asserted that those numbers were thousands, not single dollars.


https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=122454



Doc

[integral]

What website, and which filing has a $43 million entry on it for a website?

[DrContango]

Folks, eddy2 is pulling your leg. He's just trying to have some fun at your expense.

Regretfully, I think he is for real.

No one is that stupid

You obviously haven't hung around many iHub or Yahoo! message boards.

Just give the PLKD board, amongst hundreds, a test drive!

Doc


Only two things are infinite, the universe and human stupidity, and I'm not sure about the former.

--- Albert Einstein

[wrxbow]

Folks, eddy2 is pulling your leg. No one is that stupid. He's just trying to have some fun at your expense.

[janice shell]

Gee, thanks.

[janice shell]

That's ridiculous. The website is beyond lame, and it most certainly did not cost $63 million to create.

The company is entirely worthless, and will be for as long as it exists. Which probably won't be for much longer. It doesn't really even have officers and directors, after all.

[janice shell]

This company was set up to be used as the vehicle for a scam. Nothing more.

[eddy2]

The truth is due noted in the S1 filing were Goodwill can not be priced in too the value asked. But with that said unless an asset is something like a New York apartment over looking central park as well as the Hudson river ten she better have real revenue.



Goodwill can only be amortized over five years by accounting rules or shorter due noted in your depreciation were 50% of it is depreciated.


Goodwill can never be greater then all initial investment were the remaining asset has to be marked to market as too its market value.

cost+revenue= market value of a asset or service+revenue= market value


Goodwill= cost-market value taking into account today,s interest rates that when they rise goodwill will go down. Another subject for another day.

[DrContango]

The web site cost 43 million and sure that is a lot of goodwill paid to the ones who put it together in the form of shares " equity " Revenue its in straight dollars noted by brackets leaving every thing without brackets in thousands of dollars.

Sorry, Eddy, but the entire balance sheet/cash flows etc is in dollars, not thousands. And CYNK's infamous acct valued the website at $43K. Like the rest of the company, the website has no value...

Do you really believe that that website is worth $43 million???

Learn to read financials

Thanks for the advice, Eddy. I'll blow the dust off my MBA and review my old class notes...

Doc

PS: I'm handing this fruitless debate back over to Janice...

[eddy2]

The web site cost 43 million and sure that is a lot of goodwill paid to the ones who put it together in the form of shares " equity " Revenue its in straight dollars noted by brackets leaving every thing without brackets in thousands of dollars.


Learn to read financials this is a going concern with a bright future if and when revenue other then Goodwill can be recorded over the five year period they were selling the equity over.


Oldest trick in the books using Goodwill as revenue he he but I never said it here. Between dividends as well as revenue derived from Goodwill is the biggest scam going in penny stocks today but were flippers here and I shouldn't be mentioning that stuff.

[DrContango]

>>Your not getting this this company was set up to create capital. Without it you won't have the other, R&D ect. It will be absorbed into something else bigger in the end. Look at the numbers, sure it's paying all the wages but in return its building phantom shares "equity" in something else we hope down the road twenty years from now of value.<<

Janice "gets it" but you certainly don't, Eddy. This, er, "company" was set purely to create countless worthless shares to dump into a manipulated market.

Have you bothered to read the 10-Q?

https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=122455

The zillions of outstanding shares have netted CYNK a net total of $60000. There are no wages being paid, no value being created.

CYNK will never have any future access to legitimate capital.

It has no value now and twenty years down the Grey Sheets Road will be nothing more than dust in the wind.

Doc

[eddy2]

Your not getting this this company was set up to create capital. Without it you won't have the other, R&D ect. It will be absorbed into something else bigger in the end. Look at the numbers, sure it's paying all the wages but in return its building phantom shares "equity" in something else we hope down the road twenty years from now of value.


For me I'm a trader and yes when I was younger I held onto such stocks but nothing did came of them but looking back they were poorly run often resource ventures and others were used as only piggy banks for someones retirement but my own.

So don't get me wrong here but as a trader I have to keep an interest going and who is to say nothing will come of it.

There is a big move back to equality were these individuals are going to be taxed big time on capital not being utilized were any income gains from outside sources will be taxed at a 120% after two years if left in a annuity of any kind so that will leave only corporate bonds, equity as well as derivatives as a source of income that will be exempted from the high tax.


Now the money of these individuals sit in government bonds hence the low interest rates we have today but there is a move for these people to take that money and make it work not that this is passed yet.


The warning signs are there. We will see higher interest rates as well as government coffers filled should these individuals not act on getting there money working.


Once this takes effect equity prices across the board will rise. There will be new prosperity for the ones who have purchased good solid corporations into the future as this money starts to be employed back into the market.

[janice shell]

You are not GETTING THIS. There was no R&D. There were no employees. It was a FAKE COMPANY. A SCAM.

[eddy2]

There is should you be looking at the assets and the loss as well as the equity sold.


So were did the money go well to R&D that could of been very high wages given in hopes for the best talent but not always is that the case and that is were earnings will often indicate the talent used for the R&D but what happens when another company uses the technology and issues equity in payment for that technology were that company as well is issued equity as well.


In other words it could be a widget a piece of a greater device a rocket ship instrument or something waiting on other pieces to be completed.


Let me give you another example XYZ is making a product that has a hundred different components with a hundred different fenders coming together to complete the project, maybe an airplane or new car but until that device is completed and sold every fender ends up with shares of XYZ in replacement of cash so in other the fenders and there shareholders are financing the product of XYZ and were XYZ equity is being used to underwrite new shares of all its fenders to keep them afloat until the project is finished and sometimes that could twenty to forty years.


She is a young mans game to hang onto these companies that have no prospect them selves as you have mentioned there not real companies if all you are doing is supplying a widget to another ones project.

[shajandr]

It was a great company ruined by the Rothschilds, Bildebergers, and the rest of the Great NSS Conspiracy.

CYNK could have been the next MSFT, employing hundreds of thousands of people, if only the evil NSS conspiracy did not take it down.

It's the damned bankers. Always is.

Uneducated, unsophisticated newbie investors buying into fake hype from conmen is never the issue. It's these evil shorts than nobody can ever find.

Has to be.

[janice shell]

I am aware of that. Have you read the financial reports? There isn't significant debt, convertible or otherwise.

Try to understand that CTNK IS NOT A REAL COMPANY.

[eddy2]

Bonds, debt call it what you like. Debt comes in many forms.

[janice shell]

What in the world are you TALKING about??? This had nothing to do with corporate bonds.

It was a SCAM.

[madeindet]

Eddy and who is the CEO running this company and making all these decisions?

[eddy2]

Look its a bond game they buy something over priced the major insider lends his shares the company in turn issues bonds as collateral all noted in the goodwill as well as intrinsic value of the sale of the asset.


The thing is the debt can't be met and never could be met in that time period. Insiders are offered bonds as well to go along with the vale but hey accountants were clear that it had pricing issues.


Even so there is still hope here with the new capital coming in even if it does dilute shareholders as well as adding liquidity issues from the shear number of shares being introduced today.

[eddy2]

Will be moving shortly

[janice shell]

Shaking my head. The scam was set up as a bear trap.

And obviously it's just not possible to frontload a short position.

[janice shell]

No it wasn't. Far from it. What happened has been explained quite clearly.

[eddy2]

The company does not care who they sell too be it the shorts or the longs capital is being built for the project. The smart money knows when building something it goes through a cycle of depreciation due to labor costs as well as material costs and with a period of no revenue as well as product "asset".


For example you take a 2x4 that you pay $3.00 You cut it into 2 foot peaces what do you have firewood at a $1.00 after delivery.Now should you take that wood and build something that will give you a return of $6 dollars now you have a intrinsic value after labor costs to your $3 dollars spent plus labor.


Due too changes in accounting money has to be accounted for as in capital surplus spent for labor due noted in your income statement as well as costs associated in sales were a negative cash flow in revenue will often rear its ugly head.


Now of course there is many other factors involved leasing a building for storage of goods not moved, transportation of goods to other locals as well as credit to your retailers that is often collateral put up as none liability debt to the company as collateral to the banks that doubles the debt on the books.

[madeindet]

Focus should be on the short syndicate that has paid subscribers. When did they start shorting and when did they desperately start contacting regulators before or after they front loaded their SHORT???

They got squeezed, they created the mess... Similar to the Porsche Volkswagen squeeze. When they lose they cry like little biatches!!

Who ever said bear raids were legal?

[eddy2]

They should be should they know who I am and the money i ca throw at this. I have people down there right now looking into what is going down.

[madeindet]

This pump and dump was orchestrated by the short sellers. Investigate shorties transactions on both sides of the trade

[janice shell]

Oh for God's sake.

[madeindet]

Eddy you think the shorts are dumb founded that the stock is not trading trip 0's or do they fear who is watching every tick and are afraid for their lives?

[eddy2]

Yes, making money now

[eddy2]

Come on guys time to up tick this null the short position and get on board today

[eddy2]

http://content.stockpr.com/corewaferindustries/media/a68e8ab3d9e45b7ac39e72b0910366b3.pdf


A example as to how things work. this by the way is a stock trading for $.0002 with millions apon millions of shares after the fact that will take advantage of fractional shares for these holders and yes the common will be diluted as we will see here.

[eddy2]

let me enlighten you on another scam that is often associated with with what I have mentioned and that is they will invest in another penny stock or private company building a web site for promotion claiming that to be there business and were money has been spent when in fact only a small portion has gone to what they claim they are into.


Now don't get me wrong there are the ones who will not risk anything on a project and use the money for retirement and another scam should that be what has happened here.


But as far as the media goes any one can be paid off to say what ever from any source often from an insider who can only buy the private offering not the public offering that trades at market value stated by the market and this is were the dilution comes into effect on fractional shares should the company offer them but what is often not understood is that the public entity is often the buyer of them leaving the public caught in the fractional share scam and that is often why the high volume is due noted in the trading not that they are offered to the public cause Joe public can't buy a private offering unless through the public entity listed.

[236T568]

please stop the nonsense

there is no project

there is no product

this has been an empty shell scam since the beginning

you don't know that for sure no one does except the powers to be and there mouths are sealed until completion of the project and the first sale is recorded along with the first actual transfer of product should there be one too transfer.


me i'm riding the wave and trading on the dips as well as hedging on the down side when i can to hold a lower cost position should one arise. buy low sell high and take you chances. My stake will be for a $1000 dollars and should it reach $.0001 well you do the math on how many shares that will be of the billions that by that time will be in the market place owned by the company that were repurchased

[janice shell]

Yes I do know that for sure. I've been following penny scams for more than fifteen years. I know how they work.

[eddy2]

you don't know that for sure no one does except the powers to be and there mouths are sealed until completion of the project and the first sale is recorded along with the first actual transfer of product should there be one too transfer.


me i'm riding the wave and trading on the dips as well as hedging on the down side when i can to hold a lower cost position should one arise. buy low sell high and take you chances. My stake will be for a $1000 dollars and should it reach $.0001 well you do the math on how many shares that will be of the billions that by that time will be in the market place owned by the company that were repurchased.

[janice shell]

There is no "project". You are not getting this. The perps bought the CYNK shell to use it as a vehicle for a securities manipulation scam.

That is ALL this was about.

[eddy2]

what you guys have to understand is the valuation of a asset one is market valuation the other is profit valuation let me give an example you build a building to sell condos for example as it is being built the land value goes down depreciation cause should things not work out someone has to remove the building to bring up the land value to market value now should the project get completed and say a condo sells for a 40% up side to what it cost then there will be a revaluation of the asset to market as well as profit valuation that the company can do it again and again hopefully.


So what we have is your classic no revenue, profits and completion of the project along with no money but then looking at the capital surplus and its size we can assume maybe there must be a pile of goods stacked up along with prepaid wages in the form of stock held in trust as collateral is what I'm speculating or the power to be is sitting back collecting a nice wage as well as enjoying one self

[TrendVestor]

Think about it...more info needed.

[janice shell]

It isn't odd at all. The company doesn't have any money or assets, so there's no point starting a class action.

[madeindet]

Isn't it odd the typical ambulance chasing class action attorneys didn't show up to this party? Wonder why?

[LouisDesyjr]

No money went to the company.

Eddy2, I think you misunderstand where the money went. It looks like the company issued shares to its officer(s), and the officer(s) sold the shares after the run up. Any money from the stock trading went to the officer/director. None of the money went to the company. Apparently, the company did not issue any shares after the run up.

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=122455

According to the March 31, 2014 financial report total assets are only $39. $39 is all the company has (or had). Liabilities are over $51,000,000. This means that even if someone was to add money into the corporation, the first $51,000,000 would go to pay bills already due.

Whoever this officer is, he issued himself millions of shares according to the report.

I expect that eventually the company price will settle at $0.0001, unless there is a reverse stock split, because that is the lowest a price quote can go on the automated system.

Louis J. Desy Jr.

[eddy2]

You may be very well right but never say never they do come back depending on a lot of issues but again there are the ones like you have all stated that are scams were they take the money and run with it or pay them selves a little more then what they are truly worth keeping there cronies in there back pocket "Board of appointed directors by no other then the ones who put up the debt "


These individuals can set up a corporation and because it is a entity in its self it can act as a director with the other six directors sitting on its board. They will sit up a number of these entities acting as directors with a long list of credentials putting the right people in place as managers, officers ect.


Do you really believe reading the credentials of some of these so called directors that they could of attended school and have the work experience they do if so there would be a lot of pro so called students and when would they get the work experience if they are at school for the majority of there lives.

[236T568]

"fractional shares"?

what fractional shares?

Please stop the nonsense

This scam company is never coming back to the $6 billion Market Cap, the $1 billion Market Cap, or the $500 million Market Cap, for that matter

I can't say if they will come back or not but in most cases they come back when they consolidate the debt and that is were fractional shares fall into place but we are far from that happening depending what they will underwrite and what they will keep for them selves.


Don't forget that as a bag holder a small one granted in this case on a very early stage company you will in twenty years depending on the amount reinvested by the insiders and as well what in the future they buy be it to piggy back on Apple or a chain of chinese restaurants or God forbid a gold mine or any mine as far as I'm concerned but that is a personal thing I just hate having my money into along with a butt factory cause I hate butt smoking dragons again personal things I hate to be involved in I won't mention others Strip clubs is one that comes to mind as well.


Hey don't get me wrong I'm a short term investor due to age as well as my many picky things I won't get involved in and as far as Apple stock I will buy it on my own terms and not have to pay someone to manage something I can do my self.


Hey it all keeps the world turning we have to make a living somehow supplying some kind of service.

[eddy2]

I can't say if they will come back or not but in most cases they come back when they consolidate the debt and that is were fractional shares fall into place but we are far from that happening depending what they will underwrite and what they will keep for them selves.


Don't forget that as a bag holder a small one granted in this case on a very early stage company you will in twenty years depending on the amount reinvested by the insiders and as well what in the future they buy be it to piggy back on Apple or a chain of chinese restaurants or God forbid a gold mine or any mine as far as I'm concerned but that is a personal thing I just hate having my money into along with a butt factory cause I hate butt smoking dragons again personal things I hate to be involved in I won't mention others Strip clubs is one that comes to mind as well.


Hey don't get me wrong I'm a short term investor due to age as well as my many picky things I won't get involved in and as far as Apple stock I will buy it on my own terms and not have to pay someone to manage something I can do my self.


Hey it all keeps the world turning we have to make a living somehow supplying some kind of service.

[janice shell]

Yes, Gewerter was involved. He claims he no longer represented them at the time the stock went crazy, but I'm sure he's been answering questions from the regulators nonetheless.

[janice shell]

CYNK was a reporting issuer. Still is, of course, but it remains to be seen whether it'll keep up with its reports. I'm inclined to doubt it will.

But for a couple of days, it was worth a LOT more than a few hundred K, at least in terms of market cap.

[janice shell]

It did a reverse merger, and changed control at that time.

[mantan]

The usual suspects:

http://fortune.com/2014/07/14/cynk-stock-fraud-lawyer-gewerter/

[mantan]

CYNK was a market manipulation not a money raise. I doubt the company even has a bank account. A grey market company may not even have a viable business or MAY BE COMPLETELY DEFUNCT as in the case of CYNK. You won't know however because it is a non reporting entity. if the the actual haul was more than a few hundred thousand dollars, the SEC may take an interest.