KAT Exploration Inc (KATX)

[Cretanboy]

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