How Arrogant
Clearly......... Please don't sue us and screw you all in the same breath.....
Claiming to hurt the company... It has nothing.....they would have to spend shareholders money, in their pockets to defend their actions. Oh yes... And they are a US Registered Business..... But read what it says....you can't touch us....because we live in Canada....Oh yes they can be touched......Again.........How Arrogant
Keep in mind KATX is a non-asset based corp. meaning they own nothing...No Equipment...ken rents or leases everything....that's the quickest way to bankruptcy
From the S1
Quote:
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Our parent company publicized a record date that was subsequently withdrawn in favor of a later record date. Investors who sold shares between these two dates will not receive any shares in the Spin-Off, and could pursue litigation against our parent company.
On June 25, 2010, our parent company issued a press release which stated, among other items, that a record date of July 16, 2010 had been established for the distribution of restricted shares of our common stock to its shareholders. Our parent company subsequently withdrew the record date referred to above and established it as December 21, 2011. This date was first publicly disseminated in the registration statement of which this prospectus forms a part filed with the SEC on April 13, 2012.
It is possible that certain people who purchased shares of common stock of our parent company and sold the shares after the announced but subsequently withdrawn record date of July 16, 2010 would initiate legal proceedings against our parent company and may even attempt to implicate our company in any such litigation. While we cannot predict the eventual outcome of any such litigation, if initiated, any such litigation would in all likelihood at minimum divert management’s attention and resources and could thereby harm our business and financial condition. In the event that litigation is brought against us or our parent company, we would defend ourselves vigorously.
You may not be able to enforce your claims in Canada or Ghana
While our company is a Nevada corporation, virtually all our assets are located in Newfoundland, Canada and Ghana. We cannot assure you that a court located in Canada or Ghana would not deem the enforcement of foreign judgments requiring our company to make payments outside of Canada or Ghana, as applicable, to be contrary to policy and/or unenforceable in Canada or Ghana, as applicable.
All of our officers and directors reside outside of the United States which could make it difficult to enforce potential civil liabilities and judgments.
Kenneth Stead, our president and chief executive officer, is a resident of Canada, and all our assets are located outside the United States. As a result, it may be impossible for investors to effect service of process within the United States upon such persons or enforce in the United States against such persons judgments obtained in United States courts, including judgments predicated upon the civil liability provisions of United States federal securities laws or state securities laws.
AI
