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investor911

01/13/10 6:23 PM

#10406 RE: budgetcuts0 #10405

This was cancelled while back. Not sure if the cancellation was ever PR'ed but few posters confirmed this via email from KEN.
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Biochemist79

01/13/10 6:34 PM

#10407 RE: budgetcuts0 #10405

I took it as Er0ck's opinion based on his personal experience with Ken. I don't think his intention was to mislead anyone. I highly doubt anyone on the board knows every detail about the company. In my opinion Er0ck has gone above and beyond to relay as much info as possible to others on the board. In any case, Ken seems to have been fairly straightforward (in my opinion) and has been quick to reply to questions. But I agree, clarification on that would be nice if anyone knows- I believe it was cancelled?
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Mr. Zen

01/13/10 6:45 PM

#10409 RE: budgetcuts0 #10405

If you would read the fine print in the filing you would notice one thing
Total Amount Sold $57,000 USD (peanuts).

Money was needed to survive, plain and simple.. it is over, other avenues have been found and it will be answered soon enough

you do not need to kick a hornets nest for no reason, we have gone over this before
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Er0ck

01/13/10 7:08 PM

#10410 RE: budgetcuts0 #10405

While I thank you for pointing that out, I didn't mention it because there was nothing to mention. As others have stated, it's a done deal. Basicly what happened was KATX issued some Form D 504s a while back to raise money and it caused all kinds of problems. They took care of it long ago and Ken has stated many times that they would never look to doing 504s again and that they learned their lesson from them.

We have had quite a few people on here email Ken directly about this very issue, and he has always been stright forward about this and has allowed us to publicly post his email responses about this question. While some of what you quoted me as saying was my own personal opinion, most of that quote was actually facts or based on facts like the one I just talked about. Ken is a very honest and open CEO, and I stand by that statement.

I hope this helps clear up any questions you might have had about this.