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cyrk

Cyrk was once one of the largest promotions companies in the world with over 2000 employees worldwide. The company's stock was listed on NASDAQ under the ticker symbol CYRK. From its earliest days as a public company and headquartered in Massachusetts, CYRK struggled with three significant gating factors in its public company business model: 1) customer concentration consisting primarily of Fortune 50 "Power Brands" 2) client disclosure restrictions imposed by the Power Brands which hindered CYRK's ability to provide quarterly forward looking guidance strongly demanded by Wall St. analysts and market makers and 3) volatility associated with the meteoric success of its consumer loyalty promotions totaling hundreds of millions of dollars over relatively short periods of time only to be followed in subsequent reporting periods by a resulting contraction in its sales base once the "Power Brands" marketing needs waned as consumers became engaged and increasingly loyal. The bulk of CYRK's revenues were generated from the sale of custom promotional products employed as consumer rewards in points-based consumer loyalty promotions. CYRK had three very successful public offerings between early 1993 and late 1994 underwritten by Montgomery Securities, all of which were oversubscribed.

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