CYNX - Looks like this one is waking up - time to
Thepast year has been pretty crappy for the share valuation but look atthe 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:
"...announcethe acquisition of the master global marketing and distribution rightsfor 5Barz products, as well as a 50% interest in the intellectualproperty developed by CelLynx Group Inc. The 5Barz technology is thefirst one-step plug and play cellular network extender in the industry.The 5Barz product line combines high-performance hardware with extensivesoftware development, integrating complex algorithms and intuitiveinterfaces resulting in a consumer friendly product which amplifies acell signal as soon as you turn on the device.
Theconsideration paid for the assignment of the assets is comprised of anote payable in the amount of $370,000 USD to Dollardex Group Corp. Inaddition, 5Barz will issue 15,600,000 shares of the common stock of5Barz International, Inc. to Dollardex Group Corp., representing 17.8%of the issued and outstanding common stock of the Company. Theagreements provide for the acquisition of the intellectual property for$1.5 million USD payable in a series of payments to be completed byFebruary 28, 2011. In addition the Company is making a revolving line ofcredit in the amount of $2.5 million USD available to CelLynx to befully funded if required by March 31, 2011, which is secured by thebalance of the intellectual property.
About 5Barz International, Inc.
5BarzInternational, Inc. has entered into an exclusive, international,marketing and distribution agreement with CelLynx Group Inc, a winner ofthe International CES Innovations 2010 Design and Engineering Awardsfor its new, patent pending 5Barz cellular network extenders. 5BarzInternational, Inc. acquired a 50% interest in that technology andaspires to service an international marketplace of some 4.8 billionmobile phone users. Built on breakthrough technology, 5Barz technologydelivers faster data service and clearer phone calls in zones with eventhe weakest signals. Unlike competing technologies, the patent-pending5Barz™ technology does not require any installation, outside antennas orcables. It capitalizes on widespread customer dissatisfaction withindoor and vehicular cell phone coverage, and on the phenomenalworldwide growth of voice, data and video applications on cellularnetworks. 5Barz International, Inc. will focus on the sales andmarketing of the 5Barz products incorporating this cellular networkextender technology globally once the Company has completed theacquisition of those assets referred to herein."