Who knows? I did some lookup on them today and found it consists of only one employee. Their website is down. So unless someone or group of people want to buy this shell and do something with it then I don't see anything happening. For all I know it is no longer a business at all. Lasted what, 3 years since it's inception in 2009? I did find a PR from Jan. 2012 saying it signed a 5 year contract with Stroup Mining giving KGRI 100% mining and mineral rights having to do with coal:
DALLAS, Jan. 9, 2012 /PRNewswire/ -- The Kiley Group, Inc. (Pinksheets: KGRI.PK - News) is proud to announce today that a 60 month contract has been signed with Stroup Mining, giving The Kiley Group 100% of the mining and mineral rights. Stroup Mining is located in Pikeville, KY positioned on 58 acres. Previous geological reports have shown upward of 75 million dollars in coal reserves in today's prices which are locked into 40 inch seams throughout the property. The exact amount of natural gas reserves have yet to be determined. For the past 44 years Stroup Mining has been owned and operated by the same family group.
William Smart, president of the Kiley Group stated," We are thrilled to enter into this thriving market. With technological advances in the natural resource industry, the demand for coal has been rising dramatically. Growth in this arena has been phenomenal over the last few years and we believe we are positioning The Kiley Group to be extremely successful. We will be updating shareholders regularly on the rapid progress being made."
In addition to the rights, The Kiley Group has full access and use of the buildings and equipment for the mines located on the property. The company is currently negotiating the final purchase price of those assets as well.
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I know it's old news to some here but to me it's new since I did no research on KGRI before I bought a year ago. I bought based off the chart. So now KGRI is 3.5 years into this mining contract with 1.5 years left.
