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I understand what your point of view is. I will share the issue that I have. Everything you say may come to fruition . Future shareholders might do well. This Reverse will kill current shareholders. You said that 40 million if fine. and in my opinion 200 million would still be a good SS . Why is the AS 2 billion? why not reduce it also. 500 million or less. I believe. they plan on diluting this to 2 bill. If you have another logical reason please share. I 100%want to be wrong. I will say this, if they plan on adding a bunch of restricted that cant be dumped into the DTC for a while . I am fine with that. However if they plan on diluting non-stop, then this will be back to trips in no time. I honestly want to be wrong. Not bashing. I am way underwater on this. I hope the company has a MC of 100 million. with this new float we will fly. Good luck to everyone.
I would like to clear up some misinformation that has been circulating. The previous management has nothing to do with the current company. the custodian in this case Karen currier Was awarded custodianship of KATX. If I recall, previous management never contested the custodianship. Once this happens, the custodian removes all traces of previous management. Then once everything is up-to-date, they look for a reverse merger candidate. What made KATX attractive was A) no notes B) it had a good share structure. Also the CUSIP number is mining already. Remember anyone that has posted 361 times on a board. Definitely has some sort of agenda. He can’t be a short. They would have covered. My guess is they got rocked on this ticker and can’t move on.
They need their 10 k . They don’t have a fiscal year end on Dec 31 . Theirs falls on Nov.30 . So they need that filing plus a 10 Q for February and the 10Q for May . KATX is an SEC filer they do not need an attorney letter. Hopefully once they file to become current , they will also file to get their solicited quote back.
Yes I agree with you . We definitely do not know how the market will react. We also are not purvey to what is happening behind the scenes. This is definitely a unique situation with a reverse at the same time as the merger. I appreciate your polite reply. Good luck to all of us.
Nothing on OTCM yet
I don’t think FINRA really cares. Not sure what qualifications they use to approve or deny R/S. most large reverse splits kill shareholders. They get approved anyways. The only positive is we don’t really have an idea of the market cap of the merging company. If it’s 100 million ( hypothetical) and they don’t dilute we should be ok. But not holding my breath. These guys couldn’t even file to keep us current. These filings would have been easy since KATX was still a shell.
Everything I mentioned was factual. You should expect opposing views. I am not a keyboard warrior lol. My view is based on facts. FYI you must not trade OTC very much. IGPK was trading at 0001and SPZI at 0005 both went to over a penny to almost 0.02. Guess what with only on a couple of P.R.s They also had bigger share structures . KATX had a chance to be a mega mover. If management just merged the company let the price increase organically. Then called a smaller reverse. I believe they plan on diluting that’s why the OS is 2 billion. JR Mining companies always need cash. However it could be done with issuing restricted shares. We shall see. I am not against this company on the contrary. kATX is by biggest holding. Trust me it’s not a couple of hundred bucks. The companies silence is deafening. I Hub is without a doubt a sess pool of misinformation and useless POV. Still not sure what that has to do with the company keeping shareholders in the dark? Since I am downn99% I have no choice but to hold. Worse case scenario is 99.9% so I wish us all good luck and hope Mr klok is smarter at running a public company than what he has shown so far .
Not sure how you can condone the R/S. you obviously don’t comprehend what a R/s of this size will do . This will be completely illiquid. The A/S is 2 billion. Obviously they plan on diluting this back up to 2 billion. If they didn’t they would have decreased it by a lot more than that. All current shareholders will basically be wiped out. You say that they are contacting all shareholders. One by one lol. A simple P,R. Would take care of that. Maybe a new Twitter page would also take care of that. They obviously have access to OTCM because they filed the reverse. So we definitely have a disconnect between what you are claiming and what is actually happening.. I hope I am wrong because I am heavily invested. Do they realize that 0001 x679 will do nothing ? Even after they become current this will not move because of the pending reverse. .
Honestly I always remember this being 2 bill AS. Not sure why the filings say different
There must be a reason that it didn’t go through. Maybe the deferred it until they become PC
“The Company anticipates that the amendments described will be effected on or before the close of business on April 30, 2024.”
They are definitely working behind the scenes. They now have a verified profile. That costs 5k I believe. I would expect filings soon. I honestly don’t understand why they let it go to expert. It’s still has a shell designation. . Filings would have been easy. Must be a reason I am not purvey to. Or just plain old incompetence
The AS has always been 2 billion. If your post is insinuating that it wasn’t. If not sorry for the confusion.
Don’t expect a response. I have emailed them and texted. I have never received a reply. I did explain that if the R/S went through while in EM the price would plummet ( Americans can’t buy )
I also explained that a large R/s like this one would also cause the price to drop and would be illiquid . I also mentioned that this company could easily get to a penny organically. Then you could R/S on a smaller scale . 1for 10 . This stock has all the ingredients of a big runner , if they become PC and cancel the R/S. unfortunately I feel like it fell on deaf ears.
spoke to a guy who is probably the most informed person on OTC filing regulations out there. . regarding whether or not you have to be pink current to execute the R/S. He said this is a very rare case. Companies who are in expert almost never reverse. Alternate filer would have to be current. He thinks they might be ok because when they filed they were pink current. Also he does not think the SEC cares if they are current or not (speculation,) since they received the def 14 the R/S should go through at the end of the month. 💩💩💩 I am down 90% on this. So I will just wait and see. what's the difference between selling with a 90% loss or a 99% loss.
No dilution since at least March 18. with this SS DTC 684 million 😉we can make big moves as long as they let it breath.
Outstanding Shares
781,209,317
04/01/2024
Restricted
135,040,810
04/01/2024
Unrestricted
646,168,507
04/01/2024
Held at DTC
644,284,956
My goodness, thank god for the ignore button. That Coop guy. Filling up the board with absolutely useless posts. 329 posts all on KATX . SMH .
If they wanted to dilute. Why not raise the AS. This reverse makes no sense. It doesn’t help for an uplist. It’s going to be a tiny float . No liquidity. Dilution is the only reason I can think. of. If this is the case we will be down 99.9 % in no time.
No way Finra processes the RS if they are not current. Either they switch to an alternate filer or file their 10k with SEC . I am assuming we see filings next week, to get us current. What a terd sandwich Klok has served us. Very disappointed. Our only hope is that since the MC is so low (180. 000) that almost any relatively good company should be worth at least 5 + million. Especially if this company already has revs. Don’t know if it does. What’s even worse is the AS is the same. Chances are they plan on diluting a ton. Klok doesn’t give a crap about shareholders. I have messaged them numerous times and they never answer.
My take is that Klok didn't realize that SEC filers who are unsolicited do not get a grace period. I believe they were caught off guard. lets look at the facts. . 1) paid for the shell 2) announce that Klok was bringing in a gold mining co. 3) we have updates on OTCM regarding emails and phone #. I have called and the reception answered KATX. The OTC is about patience. Why would anyone sell their shares at this price, remember the current MC is 183 000. Now we do have the reverse hanging over our heads. try to remember we do not know the MC of the incoming co. If we have a 30-40 mill. market company incoming things could get crazy. Don't forget the Reverse has not been approved yet. It wont be as long as we are in Expert. good luck
I called the number posted on OTCM yesterday. The receptionist answered it as KATX. I mentioned that I was a shareholder and wanted info regarding updates on expert market etc. She transferred me to another number. I got a voicemail. I left a message. I received an automated text that he was busy. I proceeded to text him the same questions. I have not heard back yet
This is the number maybe if he gets enough inquiries he will answer. The only good news is that they they are operating. The shell has not been abandoned. 1(646) 327-7212..
Learn how expert works lol lol lol
No communication required. Just filings. It’s a shell. The filing would be very easy.
Expert is easy to get out of. All they need to do is file. It’s CE that is hard to get out of.
Only a pre 14c has been filed. Next they have to apply to FINRA. It can be denied. 2 billion float ,then if everything is a go you will see a Def 14c filled. Not sure how they can say it’s best for shareholders. But who knows. If this gets declined or they cancel it . We will be back 002 in no time. Not saying it’s going to happen. I know of at least 5 companies in the past 6 months that the RS were denied or cancelled. I just wish they would 8k so we can at least know WTF is up. Good luck. And because I am a degenerate I bought more at 0003.
Please stop talking about what the bid and ask are. This is an unsolicited ticker. Remember it went To EM market . Bid and asks can and are hidden. Sheesh
"to change the number of authorized shares of common stock of the Company to 2,000,000,000" want clarification. It already is 2billy. typo? Also the R/S was worse case scenario. We have to remember we have no idea of the MC going into the company. I am still here only because what's the point selling 85% down. If it tanks I will sell 95% down...bid deal. trying to stay positive. Kloks involvement with Unity mines makes me think he has big plans. time will tell. this all HOPIUM
I am reading posts here from people who don’t have a clue about reverse merger/shell. Gregory Klok is the owner of the shell. The stead brothers have nothing to do with the company. The custodian ( Karen ) job is to wipe out all old management and clean the shell. I am as shocked as anyone else that unity mines is not going to be the reverse merger. It’s going to be a gold mining co. Not sure if this is a start up or a company already mining. My hunch is a start up. Now we are sitting at less than a 1 million MC at 0006. The new mining company will definitely have assets of over 1 million. The biggest problem is the reverse split. It’s deplorable that the first action was to reverse split. If they wanted to reduce OS there were other ways. Ie. share buyback. It’s an odd number that was used for reverse split. At 0016 it does equal 1.00. However the reverse split price will be the days price that the split comes into effect. (0006 currently ) I am down 80% so no point in selling. So I am hoping that maybe the split will not be accepted by FINRA or they decide to cancel it. ( both happen in otc often) . Also this isn’t your typical reverse split. Since we don’t have a clue about the incoming co. We don’t know the market cap. Hence we don’t know where this will settle.
Most companies that reverse are riddled with debt and use it as a way to continue to dilute. There are cases where the reverse has increased shareholder value. KATX is a clean SEC reporting shell. No notes. So I plan on waiting for an 8k and see what Mr klok has in store for us. In no way am I trying to spin this into something positive. Down 80% I might as well HODL. Good luck
Non solicited quote. Remember it was brought out of expert.
market by Currier. they will have to file a 15c-211 to return to solicited quotes. I am certain that will be done as soon as merger is complete