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IBZZ – soon to be Cynk Technology Corp updated research report – now CYNK

10 Jun IBZZ – soon to be Cynk Technology Corp updated research report – now CYNK

 

On the same day that IBZZ officially announced a forward split and name change to Cynk Technology Corp, the ticker experienced some very unusual trading activity.  IBZZ traded for the first time ever today.  Three tiny block trades totally 200 shares manipulated the price up to $10 then back down to $5.

 

Screen Shot 2013-06-10 at 5.18.39 PM

 

We originally did an initial research report on IBZZ back on May 8, 2013 because of the IBZZ insiders and because we spotted an amendment at the Nevada SOS that suggested a large forward split was on the way.  The following is a review of that original research with some corrections (we now know it will be a 75:1 forward split) and some additional information added.

On May 8th, 2013 an amendment cleared with the Nevada SOS to effect a forward stock split for Introbuzz.  See the Nevada SOS page here.  I have been following Introbuzz for months because it has a unique, often special combination of Harold Gewerter (attorney) and Peter Messineo (accountant).  The last ticker to use this combination of Gewerter and Messineo that ended up publicly trading was SVEN (an AwesomePennyStock ticker).   To see why I think this is a special combination review this report.

As if the set-up wasn't suspicious enough already, Introbuzz never even spent the money or effort to publish their website proving that this shell company did not go public to start a real business as it told the SEC.  It went public to be used for a future pump&dump.  The looming forward split is even more evidence of this fact.

 

The Set-up

Introbuzz was registered as a Nevada business entity on April 30, 2008 by John Kueber.

At this time John Kueber held all the officer/director positions for Introbuzz and owned all 6,000,000 outstanding shares of Introbuzz stock.

John Kueber is from Washington and is the COO West Coast at Tiger Oak Publications.  The company owns/manages Seattle Magazine.

When I see the name Kueber first thing I think of is Phil Kueber.  Phil Kueber has been involved in several ugly penny stock pump&dumps including RICP, PEPR, WRIT, AMWI, CRWV, and ABOT.  All of those but RICP got promoted by Awesome Penny Stock (APS) linked websites.  Turns out that Phil Kueber has one brother.  His brother's name is John Kueber.  The very same John Kueber that incorporated Introbuzz.  That is no coincidence.  If you refer back to this post again you'll see that another Phil Kueber associate (Wendy Haviland) that worked with Phil Kueber in RICP, WRIT, AMWI, and PEPR incorporated another shell that uses the unique and special combination of Harold Gewerter and Peter Messineo called Personality Software Systems Inc.  As you can see from the Personality Software Systems Inc filings, that shell hit a bump in the road trying to get approval for a ticker symbol.  That makes Introbuzz Phil Kueber's best chance for his next future pump&dump shell.

On October 17, 2011, John Kueber sold his 6,000,000 shares (representing full control of Introbuzz) and a $47,000 debt Note (money he lent the company out of his own pocket) to Kenneth Carter for $600 cash.  Yes that was an amazing deal for Kenneth Carter.

Kenneth Carter (aka Kenny Blaque aka Tem Wu) owns and operates Blaque Technology which is an Internet Marketing Company.  See Kenny's facebook page here.

 

Going public

On January 20, 2012, Introbuzz filed an S-1 to go public.

At the time, Introbuzz had $15 cash, no revenues, a $47,000 debt Note owed to Kenny Blaque, and a forward looking business plan to become a web based social networking service. 

The attorney helping with the S-1 filing was Harold Gewerter (number 11 on our list of attorneys to follow for a future paid promotion).

The accountant helping with the S-1 filing was Peter Messineo who in my opinion should  now be considered the #1 accountant to follow for future pump&dump activity.

Despite what are obvious red flags to me, the SEC found the Introbuzz shell to be credible and approved the S-1 filing on June 1, 2012.

 

Seed Shareholders / Lack of Business Progress

Just prior to getting the S-1 approved, Kenneth Carther (aka Kenny Blaque) agreed to forgive the $47,000 debt note along with the accrued interest and some other expenses owned to him.  All total the amount forgiven was $61,839.

On September 6, 2012, Introbuzz sold 1,086,000 shares to a group of anonymous seed shareholders for $.05/share raising $54,300.

To date, Introbuzz has not even managed to build a website.  Pretty sad since the most crucial part of an online business is having a functioning website.

 

Change of Control

On April 18, 2013, Kenneth Carter was replaced by Marlon Luis Sanchez making Marlon Luis Sanchez the sole officer/director of Introbuzz.

According to his bio, Marlon Luis Sanchez is from San Diego where he has been working as a Partner in Sanchez Medical Services since 2002. A large part of his focus was on the Medical Tourism Industry.  

I did some research on Marlon Sanchez and I could find no Sanchez Medical Service, but I did find him linked to Paodavy Medical Services.  See his photo here.

 

The forward split

On May 6, 2013, as his first act, Marlon Luis Sanchez filed an amendment with the Nevada SOS to do a forward stock split.

 

Screen Shot 2013-05-08 at 6.09.46 PM

 

Since the authorized share count increased from 10,000,000 to 50,000,000, that is a pretty good indication that it was going to be a 50:1 forward split, but today, June 10, 2013, IBZZ filed a PRE14c announcing the the forward split will be a 75:1 forward split.  To go along with the 75:1 forward split, Introbuzz (IBZZ) will be changing its name to Cynk Technology Corp

The Pre14C also discloses that Kenneth Carter has sold his 6,000,000 shares to Marlon L Sanchez for an undisclosed amount of cash.  3,200,000 of those shares were either cancelled before the transaction or immediately after leaving Marlon L. Sanchez with 2,800,000 shares of stock.

 

New Share Count

Assuming it is a 75:1 forward split, the new share count will look as follows:

Authorized - 500,000,000 shares
Outstanding - 291,450,000 shares
Marlon Sanchez - 210,000,000 shares
Seed Shareholders - 81,450,000 shares (free trading) - costing $.001/share

 

What to expect next

On May 8th I wrote that I had the feeling that Marlon Sanchez was just a place holder and that eventually we'll see another change of control.  And that the change of control would come with new business operations through some kind of merger/acquisition and possibly a name/symbol change. 

Now we know there will definitely be new name coming for the ticker, Cynk Technology Corp, and that means a future change business operations.   On May 30, 2013, Phil Kueber reserved the name Cynk Technology Corp at the Nevada SOS.  The same Phil Kueber mentioned in this report as being involved in setting up Introbuzz and being linked to past p&d tickers like RICP, PEPR, WRIT, AMWI, CRWV, and ABOT.

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Screen Shot 2013-06-10 at 5.58.39 PM

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It will take a few weeks to get the name change and forward split approved by FINRA and cleared.  There is still a chance that IBZZ will not gain FINRA approval.  Judging by today's price action, the IBZZ insiders feel confident that the split and name change will clear.   Once everything is approved, we'll see IBZZ file an 8K announced an acquisition/merger making the shell ready for a future paid promotion.

The size of the free trading share count (81,450,000 shares) makes IBZZ only good for a future email spam campaign.  Phil Kueber's involvement in setting up the shell makes IBZZ a possible candidate for the APS family.

IBZZ is still a few weeks (if not months) away from any kind of paid promotion, but we'll continue to keep the ticker on our list of tickers to watch for a future paid promotion.

 

 

 

 

8 Comments
  • nodummy
    nodummy
    Posted at 12:55h, 16 July Reply

    75:1 forward split cleared today

  • nodummy
    nodummy
    Posted at 15:39h, 22 July Reply

    New name/symbol starting tomorrow Cynk Technology Corp (CYNK)

  • alive
    ALiVE
    Posted at 07:20h, 03 September Reply

    Effective August 14, 2013, the corporation moved its corporate office to The Matalon, Coney Drive, Suite 400, Belize City, Belize.

    http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9460842

  • nodummy
    nodummy
    Posted at 13:05h, 11 July Reply

    Thanks Alive, The Legacy and Titan stuff is extremely interesting especially Legacy Global Markets SA. I have a solid source that tells me that the key individual behind Legacy Global Markets is Gregg Mulholland.

    Documents show that FINRA has already opened an investigation into Legacy Global Markets because of their involvement in past Awesome Penny Stock promotions as well as other pump&dump schemes. According to thedeal.com list of offshore brokers being investigated for their roles in pump&dump schemes include:

    “Caledonian Global Financial Services Inc., Caledonian Bank Ltd. and Caledonian Securities Ltd. in the Cayman Islands; Clearwater Securities Inc. in Belize; Legacy Global Markets SA and Argus Stockbrokers Ltd. in Cyprus; CBH Compagnie Bancaire Hevetique SA and Bank Gutenberg AG in Switzerland; and Verdmont Capital SA in Panama.”

    http://www.thedeal.com/content/regulatory/with-law-enforcement-regulators-in-pursuit-awesome-penny-stocks-calls-it-quits.php#ixzz37BOv5Num

    Gregg Mulholland was named in litigation in the past for his role in the Rudy Nutrition (RUNU) pump&dump along with Pawel Dynkowski, Joseph Padilla, Chad Smanjak and others.

    http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70033407

    http://promotionstocksecrets.com/clearing-penny-stock-certs-through-panama/

    It has long been known about Mulholland and Padilla’s involvement in helping clear certs for Awesome Penny Stocks and other pump&dump schemes. Together with the help of people like Robert Banfield providing anonymity for people wanting to set up offshore accounts in Belize, Mulholland and Padilla and other brokers like Bank Gutenberg AG helping to clear certs and control the trading activity, and dirty attorneys like Gewerter providing the legal opinions to make the stock free trading, it makes it very easy for the people that really control the free trading stock (sometimes huge chunks of the entire float) to get away with dumping that stock into the market using paid promotions and other illegal manipulative practices without ever getting caught.

    CYNK became the subject of many media outlets and many negative articles this week after the market cap was blown to a ridiculous $6 billion+. The price climbed from $.22/share from our alert of the unusual activity to $21.95/share. Today the stock was suspended by the SEC and no doubt regulators will be investigating the strange trading activity which I believe included wash trading between insiders to manipulate the price up and cause a major short squeeze. Hopefully the investigators track down who controlled all the free trading stock and which insiders were involved in the market manipulation. I think some of our old research in this report will help get them started.

    • alive
      ALiVE
      Posted at 10:33h, 13 July Reply

      yes indeed ~ very interesting stuff ~ thank you

  • nodummy
    nodummy
    Posted at 15:45h, 12 July Reply

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