KAT Exploration Inc (KATX)

[B402]

Facts,,No Known Reserves,,,Litigation Possible,,

Funny how they claimed to be a Gold Producer,,Then
To have Indicated Reserves,,Then
To have Inferred Resources

Now Its "No Known Resources"

Bear Raider Friday, October 19, 2012 10:38:32 AM
Re: B402 post# 207179 Post # of 207238


Litigation

Quote:
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S-1/A#4 Page 16

Our parent company publicized a record date that was subsequently withdrawn in favor of a later record date. Investors who sold shares between these two dates will not receive any shares in the Spin-Off, and could pursue litigation against our parent company.

On June 25, 2010, our parent company issued a press release which stated, among other items, that a record date of July 16, 2010 had been established for the distribution of restricted shares of our common stock to its shareholders. Our parent company subsequently withdrew the record date referred to above and established it as December 21, 2011. This date was first publicly disseminated in the registration statement of which this prospectus forms a part filed with the SEC on April 13, 2012.

It is possible that certain people who purchased shares of common stock of our parent company and sold the shares after the announced but subsequently withdrawn record date of July 16, 2010 would initiate legal proceedings against our parent company and may even attempt to implicate our company in any such litigation. While we cannot predict the eventual outcome of any such litigation, if initiated, any such
litigation would in all likelihood at minimum divert management’s attention and resources and could thereby harm our business and financial condition. In the event that litigation is brought against us or our parent company, we would defend ourselves vigorously.
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Truth is, the KATX web blogs and additional press releases; which are on SEC permanent file; http://www.sec.gov/Archives/edgar/data/1412126/000093041310006119/filename1.htm Appendix C, go into great detail of the July 16, 2010 1 for 4 record date. Clearly far more than a press release (singular) as noted in page 16.

String it along.