According to official filings, CYNK Technology Corp has “… one employee, no website, no revenue, no product, and no assets.” Current market value? Over $4 billion.
AND THEN THE NEXT DAY …
It’s market cap goes over $5.9 billion, making the CEO (and only employee) one of the 400 richest people on earth. Just who is he? According to this post by AlaricBalth:
“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.”
“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 legal dudes involved have an interesting background as well: