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Thursday, January 06, 2011 6:12:23 PM
While the Company’s business strategy includes acquiring additional gold properties, if possible, the Company has no present intention to acquire additional properties from KATX or any other source and does not in any event presently have the means to make any further acquisitions. The Company would have to raise additional financing over and above the sums discussed above in order to contemplate making acquisitions of any other gold properties. There can be no assurance that the Company will be able to acquire any gold properties in addition to the Handcamp property...
...The Company is in discussions with prospective investors to provide such funding and anticipates that the receipt of such funds would enable it to satisfy its cash requirements for a period of six (6) months.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7621865
This filing was more recent. So, I'm going to go with the filing. However, if they got financing from the "prospective investors" since Dec 22, I'd appreciate them reporting the "material event."
Now, going back to the October 27, 2010 8-K:
Based upon the Company’s present cash position, it will need to raise additional capital prior to December 31, 2010 in order to fund further exploration and acquisitions. The Company is in discussions with prospective investors to provide additional funding in exchange for equity. In order to finance further exploration and acquisitions, the Company will need to raise a minimum of $2.5 million. However, there can be no assurance that the requisite financing will be raised in the necessary time frame or on terms acceptable to the Company, if at all. Should the Company be unable to raise sufficient funds, it may be required to curtail its operating plans if not cease them entirely. There can be no assurance that the Company will be able to operate profitably on a consistent basis, or at all, in the future.
There are at present no specific plans to acquire properties from KATX.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7519490
