Yesterday, we wrote up the strange case of CYNK Technology.
The company’s stock gained nearly 25,000% in just 16 trading days, giving it a market cap of over $US4 billion.
Earlier in the day, shares of CYNK Technology, the company that has no revenue and one employee, were up as much as 30%, but since then, have gone negative and are down 16%.
According to a Tweet from StreetInsider, regulators are looking into shares of CNYK.As of about 10:30 am EST.
But as we noted, it’s not clear if the company really exists, as financial statements indicate that it has no revenue, assets, or full-time employees.
But there is a website, IntroBiz.com, that the company operates. Not that this makes the picture much clearer.
CYNK Technology appears to operate the website IntroBiz.com, a social network (the website calls it a “social marketplace”), where users pay to be introduced to business professionals or celebrities. Or at least, this is what it seems like the site does.
Here’s what you find under the “Entertainment” tab on IntroBiz.
Chances seem low that you’d be able to get connected with Emma Watson, or Charlize Theron, or Leonardo DiCaprio for $US50, via IntroBiz or otherwise.
The ability to connect with these celebrities is marketed by artistblackbook, one of two “Top Socialites” on IntroBiz.com.
artistblackbook and worldtalent appear to be the only two “socialites” on IntroBiz. But the numbers don’t make a ton of sense.
We’re not exactly sure what the difference between an “introduction” and a “sale” is, but since the company hasn’t reported any revenue, it’s not clear what exactly a “sale” or “introduction” entails.
But neither artistblackbook nor worldtalent have any followers.
Under the “Business Professionals” tab, you can buy connections to professionals in different areas, like consulting, motivational speaking, and fitness.
And the individual pages for some of these people is quite interesting.
Harvey Bird: The Fitness Guru, for example, says to prospective customers that, “I am experience in sculpting the body.”
Harvey Bird’s offer, which seems basically like some health and fitness consulting (though only a diet plan, not a fitness one, is marketed), also has a great deal for members who pay from their IntroBiz account: $US5 off a $US1500 offer.
The most expensive service on the site appears to be storytelling.
For $US5000, John Sterd offers to help clients tell their ‘story’ (quotes his) and “engage people.”
This package has apparently been purchase 23 times, and after 11 votes, has a 5 star rating. It is also a worldtalent product.