Cynk Technology (CYNK), a company with no assets, no revenue, and one employee, for one hour in July had a market value of more than $6 billion.
Cynk had started trading in 2013, for a few pennies. That was until June 17, 2014, when shares that were at 6¢ jumped to $2.25.
In filings with the Securities and Exchange Commission, Cynk lists its offices as the The Matalon, a six-story glass building in Belize City, Belize – Suite 400. There is no Suite 400. The building manager says the company has never had an office there. There aren’t any $6 billion companies in Belize.
One of the biggest boosters tied to Belize, AwesomePennyStocks, was able to stay anonymous until the Bugatti- and Lamborghini-driving 26-year-old behind it was sued in March by U.S. regulators. He settled on July 7 for $3.6 million without admitting the allegations.