CYAP's reason for living is unclear. The company describes itself as "dedicated to acquiring and developing a worldwide ecommerce internet platform committed to providing revenues based on the purchase and sale of products and services by way of mobile/computer applications WORLDWIDE, online, 24 hours a day, 7 days a week." This sounds like the company plans to flip apps, but we're not exactly sure why that is a moneymaking endeavor. In its past life under the ticker CETC, the company pretended to be in the medical marijuana business in partnership with another Pump & Dump scam: IMD Companies (ICBU). It also claimed to be a developer of lithium-ion batteries when it traded as SPOW.
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CYAP was the target of penny stock fraud activist, George Sharp, who sued the company for fraud and negligent misrepresentation. That case has since been dismissed suggesting that CYAP settled with Sharp under undisclosed terms after he exposed the scheme. This is often the case with companies sued by Sharp if they cannot withstand the scrutiny that a lawsuit brings.
» Related: ICBU: Chris Jensen Fires Up the Photocopier
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CYAP was the target of penny stock fraud activist, George Sharp, who sued the company for fraud and negligent misrepresentation. That case has since been dismissed suggesting that CYAP settled with Sharp under undisclosed terms after he exposed the scheme. This is often the case with companies sued by Sharp if they cannot withstand the scrutiny that a lawsuit brings.
Those who believe that yet another fresh start will better serve traders should prepare to be sadly mistaken. This campaign starts with the campaign listing no assets of any kind save for a couple of grand in equipment. According to CYAP's own financials, they have no cash and no revenues to report.
We look for this ticker to head due south as the insider's habit of dumping stock resumes under this new banner.