Golkor Inc (GKOR)

[Jim Bishop]

Yeppers, it helps. The burn in 2009 was much larger than 2008 and they of course lost a lot more money, but that's no big surprise.

There is no mention of subsequent events and clarification of the $5 million financing but I didn't expect that either.

They are not audited, that does surpise me. To be quoted on the BB and to file with Edgar, 10K year end financials must be audited. So they have to spend the money and get them audited at some point or no "uplisting" will occur.

The big surprise, to me anyway, is how much Ken and Tim Stead's % ownership of the company has dropped.

End of August 2009 it was:

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=27304

Persons owning more than five percent (5%) of the issuer's securities.
Ken Stead 8,868,616 shares 28.10%
Tim Stead 8,514,877 shares 26.90%
James Matheson 8,396,356 shares 26.60%

End of November 2009 their 53% ownership had dropped to 18.8% despite the huge increase in the number of shares they own.

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=30665

Persons owning more than five percent (5%) of the issuer's securities.

Ken Stead 38,868,616 shares 11.44%
Tim Stead 25,000,000 shares 7.36%