They're getting Rule 144 restricted stock. Kat can't change that...it's quite simple.
No answers to this?
Who is paying for the work on Handcamp? Drilling, trenching etc.
From the filing it appears it's going to be BVIG, but they have no money. They had $28 in cash end of March.
The filing is not even clear on whether or not Cabo was paid the $10k security deposit by Kat or not.
SUBSEQUENT EVENT
KAT Exploration, Inc. has entered into a Diamond Drilling Contract dated February 24, 2010 in which Cabo Drilling (Atlantic) Corp. certain drilling at the Handcamp property. The contract covers various rates, which in the opinion of management represent market value rates, for mobilization and demobilization, overburden penetration (pipe and casing), core drilling, surveys and tests, etc. A security deposit of $10,000 is to be made prior to commencement of mobilization according to the contract.
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