CYNX - Looks like this one is waking up - time to get in?
The past year has been pretty crappy for the share valuation but look at the chart over the past few months and especially the past few days.
It looks like whatever deal they were working on with "Dollardex" (see the recent 8k) seems to moving forward.
Dollardex is now a listed company: 5Barz International (BARZ:OTC)
In their recent news release the President said they were pleased to:
"...announce the acquisition of the master global marketing and distribution rights for 5Barz products, as well as a 50% interest in the intellectual property developed by CelLynx Group Inc. The 5Barz technology is the first one-step plug and play cellular network extender in the industry. The 5Barz product line combines high-performance hardware with extensive software development, integrating complex algorithms and intuitive interfaces resulting in a consumer friendly product which amplifies a cell signal as soon as you turn on the device.
The consideration paid for the assignment of the assets is comprised of a note payable in the amount of $370,000 USD to Dollardex Group Corp. In addition, 5Barz will issue 15,600,000 shares of the common stock of 5Barz International, Inc. to Dollardex Group Corp., representing 17.8% of the issued and outstanding common stock of the Company. The agreements provide for the acquisition of the intellectual property for $1.5 million USD payable in a series of payments to be completed by February 28, 2011. In addition the Company is making a revolving line of credit in the amount of $2.5 million USD available to CelLynx to be fully funded if required by March 31, 2011, which is secured by the balance of the intellectual property.
About 5Barz International, Inc.
5Barz International, Inc. has entered into an exclusive, international, marketing and distribution agreement with CelLynx Group Inc, a winner of the International CES Innovations 2010 Design and Engineering Awards for its new, patent pending 5Barz cellular network extenders. 5Barz International, Inc. acquired a 50% interest in that technology and aspires to service an international marketplace of some 4.8 billion mobile phone users. Built on breakthrough technology, 5Barz technology delivers faster data service and clearer phone calls in zones with even the weakest signals. Unlike competing technologies, the patent-pending 5Barz™ technology does not require any installation, outside antennas or cables. It capitalizes on widespread customer dissatisfaction with indoor and vehicular cell phone coverage, and on the phenomenal worldwide growth of voice, data and video applications on cellular networks. 5Barz International, Inc. will focus on the sales and marketing of the 5Barz products incorporating this cellular network extender technology globally once the Company has completed the acquisition of those assets referred to herein." |
