Stay far away from this one. Nothing but a pure share selling scheme and personal piggy bank by insiders. Quarter ended 9/30/19 shows no revenues, consulting fees of $194,955, and professional fees of $290,000. Clem Yeboah and Phil Sands need to be investigated by the SEC.
1.) There is no way a company with $34,000 in the bank will acquire “trucking industry candidates in the 5 to 10-million-dollar range."
2.) There is no way a company with unaudited financials, 627 million shares out, no revenues, notes payable of $718,034, no business, and zero revenues ever would have “commitments of up to 500,000.00 in funding for projects and companies that it is doing joint agreements and acquisitions with.” If KYNC has this commitment, Phil Sands should publish a copy of the term sheet.
3.) On October 3, 2019 CEO Phil Sands said in a press release that KYN Capital Group would be executing a reverse split. On October 24, 2019 CEO Phil Sands said in a press release "The Company would first like to state that it has no plans for a reverse split of its common stock in the near future." Phil Sands can't even find his car keys, let alone run a public company.
4.) KYNC has a history of false press releases. With the downward trend in the stock price, one might assume these false press releases could have been issued for the sole purpose of selling shares to unsuspecting investors.
a.) On 03/13/2019 KYNC issued a press release that said, “KYN Capital
Group Projects its Sales to Surpass Ten Million in 2019 for all
its Companies and Subsidiaries.”
b.) On 06/13/2019 KYNC issued a press release that said, “KYNC Reaches
an Agreement to Acquire Setup Globe LLC, Company Expects Revenues
of $3 Million in 2019 and 300 percent Growth in 2020”
c.) One week later on 06/20/2019, KYNC issued a press release that
said, “KYNC Acquires Setup Globe LLC, Closes $1.5 Million Dollar
New Contract, Increases Revenue and Shareholder Value.”
d.) On 07/01/2019 KYNC issued a press release that said, “KYNC
Subsidiary Launching New Artificial Intelligence Blockchain
Technology, Expects Revenues to Exceed $5 Million in 12 Months.”
We’re still waiting for clarification on the status of this
subsidiary, but as of 9/30/2019, KYNC had booked zero dollars of
the $5 million in revenue company management expected for the
first year.
e.) On 10/12/2019 KYNC filed a Subsequent Event Report titled,
“Reversal of Acquisition Transactions Acquisition, Merger,
Takeover Announcement” The report said, “On August 29, 2019 KYN
Capital Group reversed prior acquisition of Algae World, Inc. and
terminated merger negotiations with Setup Globe, LLC and Public
Finance Strategies. Following the reversal of these transactions,
the company was left with no operating companies. The Company is
currently reviewing strategic opportunities.” With no operating
companies, KYNC is a shell.
In my opinion, Phil Sands and Clem Yeboah are liars and con men. The SEC and OTC Markets should investigate this company immediately and look into how many shares management has sold illegally through nominee accounts and the false press releases.
