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Wednesday, June 15, 2011 7:58:21 PM
http://www.otcmarkets.com/stock/KATX/financials
First, I feel I must note that I see no mention of the mysterious increase in the A/S from 700 million to 980 million according to amendments filed with the Nevada Secretary of State on 4/11/2011
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=J8szY3FcAPHkNelvFsm4DA%253d%253d&CorpName=KAT+EXPLORATION%2c+INC.
If this filing is correct, and the A/S is still 700 million, then I must ask, why has the company not corrected the A/S with the Nevada Secretary of State?
So, it appears the company issued an additional 46,364,940 shares since February 28th, 2011 (note the increase in the O/S). For simplicity, if we multiply that amount of newly issued shares by 0.015, that would be worth approximately $695,471 (I'm estimating the approximate price KAT has traded in over the last couple months). As I stated before, I suspected the company was selling shares (or issuing shares) to raise capital.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62243402
Of note, the float increased since February 28th by 60,248,869 (or an increase of 57,942,376 if you're going by the float listed as of November 30, 2010). So, Most likely either some shares became unrestricted or some of the newly issued 46,364,940 shares were unrestricted. I'm inclined to think the increased float (by 57.9 ot 60.2 million shares) has to do with previously restricted shares becoming unrestricted.
I did note that KATX spent $66,024 on Handcamp in Q2.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=53807
This has caught my interest, but I wonder what what work was done. We know according to the Kat Gold (BVIG) filings that 73km of line-cutting was completed in 2010.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7621865
I also note that they had $24,676 cash at the end of the period as compared to about $1,200 cash at the end of period ending February 28, 2011.
I'd just like to note that although the attorney certifies the information contained in today's filings to be current and accurate as of June 15, 2011, he is mistaken.
In this most recent filing, the claims information is NOT current with regard to the number of claims for Clifton, Shaylee, Twilite, Rusty Ridge, and the Cabot.
The number of Clifton claims listed today is not current.
All 346 Clifton claims were cancelled:
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=017506M
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=017514M
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=017513M
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=017506M
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=017510M
All 21 of the Shaylee claimes were cancelled on 5/17/11 (before this filing period):
http://gis.geosurv.gov.nl.ca/mrinquiry/license.asp?license=017389M
Twilite consists of 20 claims, NOT the 114 listed in today's filing
94 claims cancelled on 5/30/11 (also prior to this reporting period ending 5/31/11)
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=017311M
They do still maintain 20 Twilite claims under license 016389M
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=016389M
Rusty Ridge consists of 155 claims, NOT 185 as listed in the filing. The maintain the following Rusty Ridge claims:
102 claims http://gis.geosurv.gov.nl.ca/mrinquiry/license.asp?license=018404M
32 claims http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=016773M
21 claims http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=015991M
They dropped these 30 claims on RR: (also prior to 5/31/11)
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=016772M
So KATX should have 155 claims on Rusty Ridge, NOT the 185 claims listed in this report.
Cabot is now 108 claims NOT 138:
30 claims under Kenneth Lewis' name were cancelled on 5/25/11 (also prior to this filing date of 5/31/11)
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=017422M
28 claims under Kenneth Lewis' name http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=015888M
28 claims under Victor Noseworthy's name
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=005567M
12 claims under Daniel Jacobs' name
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=016008M
40 claims under Daniel Jacobs' name still maintained
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=017831M
They still maintain the 49 Luck North claims:
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=016909M
They still maintain the 6 Lucky South claims:
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=015995M
They do still maintain the 20 Colliers claims:
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=011706M
They do still maintain 226 Handcamp claims:
77 claims http://gis.gov.nl.ca/mrinquiry/License.asp?License=017917M
52 claims http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=017485M
86 claims http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=017308M
11 claims http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=011745M
I would like the company to update the filing to more accurately reflect the CURRENT status of KATX claims, and the possible error with the listed A/S.
With regard to the company's plan of operation, I note the similarity with previous plans:
According to the June 15, 2011 filing:
According to the Dec 22, 2009 Initial Company Information and Disclosure Statement
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