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You don't just walk into another guy's property and start mining. There is ALWAYS a payment up front to him in either shares or cash or both. And it's only a M O U right now. When a Formal Agreement is made up -- if ever -- there will be details and it will be filed with the S E C. So far it is their usual Mickey Mouse way of doing things. Where is this N R filed -- I can't find it yet ?? Link please.
All I gotta' say so far is ---- PATHETIC !!!!!!!!!!!!!!!!!!!!!!!!!!!!
ALL OF THOSE KAT PROPERTIES are low quality Old Dogs -- dime a dozen !!! 10 cents a mile !!!!
It is just an M O U like the Sandhu thing was for an oil deal. It is a long long way yet from being a done deal. And it's another joke anyway. Very few people make money placer mining. And besides that I can't even find where it is published.
This is the right Board to discuss this on. The onus for the BVIG share bonus distribution to qualifying KATX Shareholders falls squarely on the Brokers and their intelligence and integrity. ( May Heaven help you ). The T A knows who were the registered holders of KATX on the Record Date but he has absolutely no way of knowing who the BENEFICIAL OWNERS are right now. But up til now it is KATX that actually holds the BVIG bonus shares pending distribution. I suppose the T A can cancel them off his records of what KATX is showing. But some of KATX' shares of BVIG may be in street form at some brokerage houses. You see - almost ALWAYS the number of Registered shares in any name is usually LESS than the number of BENEFICIAL shares for this reason. Personally I think this is an accounting ABSOLUTE NIGHTMARE. Created by Ken Stead. Now those poor brokers do not appear to be on the same song sheet and are only adding to the chaos that is starting to build. Then to get back once again to the real problem still here -- there is still no financing in hand for KATG to work in Ghana or anywhere else. I think the market realizes all of this and the continuing lack of volume proves it.
It looks like the retail Joe Sixpacks were not impressed with the news about the M O U for the placer property. Incidentally I am having difficulty even finding it. It was Fluff anyhow.
Ha Ha -- that's a pitifully weak news release and an attempt to start the NEW pump and dump. It's only a M O U just like they had with that Sandu guy for a hot new oil deal. All these guys are basic CONMEN !!! There is a lot of S E C reporting to do now by BVIG - especially the Insider Trading due almost immediately.
Surely you must realize by now what a controversial MESS this is now. Utterly AMAZING that there is such fundamental disagreement. Way to go Ken !!!!!!!!!!
Where do these goofs come from ? More Wannabee miners. This possible new ha ha property is still a speck in Brookes' eyeball or in his dreams still. Placer properties very very very very very seldom make any money for anybody. FACT !! And these guys are soo dumb as to put out a N R BEFORE EVERYONE HAS RECEIVED HIS BONUS BVIG SHARES. The complaints from disgruntled Shareholders are going to get very very loud pretty soon.
WOW !!!!!!!!!! One blunder after another. Announcing news before everyone has their shares. WHAT A BAD BAD MOVE !!! Is there no end to the stupidity of these people ?? Due Bill Pay Day is TOMORROW. And besides that, this new crapola is more of Brookes' old garbage. ANOTHER worn out old property AND STILL NO WORKING CAPITAL IN SIGHT !!! Tsk Tsk Tsk !!!!!!!!!!!!!!!! We'll see if Joe Sixpack takes this new bait tomorrow. ROTFLMAO.
I told everybody this brew ha ha was going to happen !!!!!!! A COMPLETE BUFFOON SHOW. Thank you Mr. Stead.
I O U s DO NOT HIT THE BID !!!!!!!!!!!!!!!!!!!!!!!!
The math does not lie. The other part about either of these companies getting stronger is just guesswork. At to-day's prices there is a net loss of at least 15 % so far - and the figure for KATX just got even worse at closing time. And remember you are still going to get dinged for Income Tax that will be using a much larger number for BVIG than what you see right now. Buying KATX just before Dec. 21, 2011 was a very very very poor investment so far.
Some biggies hit the bid at closing time.
BVIG will never win back the money that was lost by holding the KATX for more than a year. Do the math !!!
THERE IS CONFUSION OVER THAT DATE. See my last post. Hilarious.
May I remind you the OFFICIAL dates - which is possibly not what your brokers are telling you.
Ex Date -- March 5.
PAY DATE -- March 4.
Due Bill PAY DATE -- March 7
Go figure !!!
Can you now not agree what a confusing issue this has become ? THE EX DATE IS PAST !!!!!!!!!!!!!!!!!!! Tomorrow is the Due Bill pay day. I've never seen such a mess !!!!!!!!!!!!!!!
Very very very very few independent arms-length retail people own either of Stead's 2 stocks. This is becoming apparent. But on the flip side - nobody wants to buy either. I think KATG is going to be tough to promote. Tomorrow is Due Bill payout. That should be confusing. And entertaining. LOL. Kenny should fold his tent and go back to house reno's. He can't hack it in this real exploration business. No Newfie bush work in TWO YEARS !!!!!!!!!!!!!!
Good Luck Kenny Boy !!!!!!!!!!!!
http://www.vancouversun.com/business/best+junior+firms+weather+storm+industry+experts/8055849/story.html
Ken made it so F N complicated that we are now seeing the results. AND I THINK HE DID IT PURPOSELY !!!!!!!!!!!!!!! He's a DEVIOUS DUDE !!!!!!!!!!
Yes this is my point too. I'm sorry for you that you don't have yours yet and it reaffirms to both of us what a scumbag this Stead guy really is. Some get favored over others to get to the sell wicket first. There is NO excuse for his conduct. The whole thing could not have been handled any worse than it was. A big big joke - but not everyone will find it funny. I'm sorry for you again - in this matter. No doubt you are quite angry. I know I would be too.
Cash Cow for who ?? For Ken for sure - perhaps for sharp experienced traders for peanuts because you could never do volume - and a big fat maybe for the average retail player with guts. Not really worthwhile with lots of better stocks to play. You need liquidity to make money trading - and solid bids and asks so that you could get fast execution. Those conditions rarely existed on KATX. It was always and still is a cheap chintzy dirty little stock run by promoters with questionable ethics.
The behavior of these 2 companies is very intriguing. They do not react normally and they behave quite erratically. You can't figure them out. They rarely seem to act like you think they should act. I often think they are both terribly THIN -- meaning Ken and gang have most of the shares tied up. Independent retail people own very very very very few shares collectively. IMO. As for what just happened you could build a case that it was indeed devious and was designed to dissuade retail people from selling. Buying makes prices go up and selling makes prices go down - usually. I think Ken meant to throttle as much selling as he could. This also meant that he could sell more easily if he wanted to. If this deal is thoroughly studied after the S-1 was announced we can now see that it implied that to get the bonus you had to hold your KATX FOR MORE THAN ONE FULL YEAR. This is outrageous. I think it worked anyhow - but now we sit right now - back to low volumes and prices with STILL no big retail interest. Very strange stocks indeed.
I really don't know what the Stead strategy is or was -- but everyone in his position does have a strategy for the short term and the long term. Whatever his is or was it has completely ended up in a big mess right now. It may or may not be salvageable. The Ekom Eya alone won't do it for him. If he didn't have such a bad rep right now he could resurrect the Handcamp but he just about blew it the last time he worked there. But anyhow right now he has managed to get his OTC listing and he has brought over some of the original Properties and loyal Shareholders -- AT A TREMENDOUS CREDIBILITY AND REPUTATION EXPENSE. We'll see if he can recover but personally I would not bet on it.
Some Shareholders DO need to be spoon fed and it is up to a caring C E O to do that. THERE SHOULD BE NO AMBIGUITY like in this case there was, is, and will be for a few more days. This was a very unusual and rare Divi and I don't think many were able to decipher it - including Ken's legal team. It was and still is a Buffoon Show. They will make themselves even MORE vulnerable to serious criticism if they DARE put out news OF ANY KIND before the Due Bill payout on the 7 th.
What Ken SHOULD HAVE DONE was advise his Shareholders of Record that THEY HAD TO HOLD THEIR SHARES until an Ex Date was set by the S E C. HE DID NOT !! So much for caring for his Shareholders. This is a FACT !!!! I think he did all this deviousness ON PURPOSE to discourage loyal shareholders from selling -- SO HE COULD SELL HIS MORE EASILY. And I think it has worked out nicely -- FOR HIM. Now it's a growing MESS. Some lucky shareholders are able to sell RIGHT NOW. Some loyal people are NOT able. Yes of course there will be moans and groans soon. Is this FAIR ? ABSOLUTELY NOT !! This whole thing was soooooo badly handled.
I think you will find it the opposite about my opinions on these 2 stocks. Dead RIGHT is more like it. Ha Ha. And NO they did NOT spend $100,000 doing this Spin-Off Fiasco. Perhaps half that but with a very very inept legal crew. And now we are seeing a HUGE mess starting. Without extremely good news soon this share price is going DOWN DOWN DOWN !! Watch it tank.
As more shares show up the pace of the race will pick up. The tide is now going out. Who will the new buyers be ? And why would they buy when immediate new dilution is staring us in the face by way of a new financing ? This is one cruel joke. And the worst is still ahead.
I very very very highly doubt that this BVIG / KATG can make up for the losses taken in KATX plus the upcoming tax bill on the bonus. The math will show it all quite clearly. Thank you Ken.
I wonder how they dealt with the ha ha Air Shares, aka I O U s, aka Naked Shorts. I call BA LONEY on that !!!!!!!!!!!!!!!!!!!!!!!!!!! THERE NEVER NEVER NEVER WERE ANY. LOL.
There is more bad news to come still. I expect to see both these Stead Companies get rolled back in a reverse split. Both are horribly bloated right now. And new financings - if, as, and when will make things even worse. This is all very very sad stuff for those who have been betrayed by this C E O.
Tolja' there would be a big big race to the SELL WICKET !!!!!!!!!!!!!!!!!!!! This stock needs good news -- BADLY !!! And I don't see any coming for a while. This is a DISASTER !!! The ha ha bonus is now a liability because there is a tax bill attached now. Like I said there would be.
It's a simple case of doing your personal math. Each current shareholder in both stocks. I seriously doubt that anyone is sitting in a profit position in KATX right now. And the prospects of its price going up from here are pretty grim. The BVIG bonus is now showing up in accounts -- and it looks like it is already creating selling pressure in the market. I can't see that share price going higher any time soon either. Ken has once again created a DISASTER. And to add insult to injury there will for sure be an income tax bill put on those BVIG bonus shares. Thank you Ken -- INDEED !!!!!!!!!!!!!!!!!!!!!!!!! Let the moans and groans begin.
Look at it this way. I find it highly highly highly doubtful that anyone right now is sitting with a profit in KATX. That's a very very low average price which I don't think anyone has now. It doesn't look like it's going to improve any time soon either. I think you are stuck and will have to eat it. You won't get out with your shirt. If you think your new BVIG shares will bail you out -- dream on. You and a whole bunch of others on the SELL side, along with Ken of course. For a short time here it's going to be a stampede to the SELL window on both these pigs. No amount of B S PRs will pull this out. This is not La La Land. This is reality. Know why ?? Because both of these gems are bloated with Issued Shares. As far as the infamous Naked Shorts or I O U shares are concerned pretty soon we are going to find that there never were any.
SHOW ME THE MONEY !!!! to start up that tiny little gopher-hole ha ha mine. To answer your last post -- that was about I O U shares and there has been nothing said about that yet - whether they did exist or not - I said they did not - that's my 'take' right now. This is my last Freebie til 9 tonite so I'll answer the bragging of smc. Try liquidating completely in the near future before you say how well you are doing. The KATX is about dead, and there is going to be a lot of selling hit the BVIG now. You certainly can't count on $0.068. That one is going well below a penny - and SOON !! Watch.
The game is a long long way from being over. Try selling stock now -- either one -- take your pick. The moaning and groaning is yet to come from a whole bunch of irate Shareholders because of the big ambiguity of the Spin-Off. If you faithfully held your KATX all that time since the record date you are now down a big stack !!! Your divi will not get that loss back for you. So how has this been a good thing ? It hasn't. Share prices do not lie.
Ha Ha Pay Day for all the bag-holders to-day. NOW Ken will have to report his BVIG divi right away because he is an Insider. Let's see if he does it in time. And at the same time another Insider ( KATX ) will have to report as well, - its divestiture of all those shares. Pretty soon we can make some sense out of all this hidden share data. You might be able to hide stuff from a little Newfie accounting firm -- but not the S E C. The KAT's now on the hot seat -- let's watch it squirm.
Ex Divi tomorrow. Theoretically the s.p. should be lower by the value of the ha ha divi. I'm disappointed so far to-day because there is still no official news or reporting of any kind. It was an anti-climax day after Friday.