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RussTheBus

10/03/12 10:46 AM

#118084 RE: TenKay #118083

Pics or it didn't happen. ;)
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berdboy

10/03/12 10:54 AM

#118091 RE: TenKay #118083

RETIRED 250 million shares, bought back 37 mllion shares,..remember all pinksheets sell shares to get going that's the ONLY REASON THEY COME HERE..however once jeff started making money... NO MORE SHARES WERE SOLD..that,s been over 12 months now... doesn't act like any other pinksheet out there...KMAG
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DragonBear

10/03/12 11:33 AM

#118127 RE: TenKay #118083

Yet...the float went up almost 700%

Reid loans the company $383K. Gets back 25M preferred at a 1:25 conversion rate. Converts 20% to 140M shares. Prior to the SEC showing up, if he could have slowly dumped the shares, he gets back $1.25M. Or a total payback over time of $6.25M against that original $383K.

The so called "buy back" might be one of the things the SEC is investigating. Ran across this interesting site.

Questions about KMAG

Our negative outlook on KMAG stems from certain information we were able to gather namely:

1. Unsupported claims of a share buyback. Our research indicates that this is not in fact a share buyback but that a friendly stakeholder may acquire some insignificant position in their "personal" name.
2. An Internet "radio interview" where the CEO pressed on the outstanding share structure issue is clearly avoiding the topic. Our requests to discuss the same are being ignored as well.
3. We are unable to find any proof of any significant existence of China operations.
4. The sensationalism of "Dual Tag" which was circulated in an email alert back in 2009 and just press released Nov 2011 as a new event. As a mystery shopper we were unable to get any proof from the company whatsoever.



All of these areas would be of interest to the SEC. If and when it arrives a Form 10 will reveal what is behind the curtain.