OTCPK:KATFF - Post by User
Comment by
Stevercanon Apr 23, 2018 4:53pm
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Post# 27928704
RE:RE:RE:RE:Does anyone know ??
RE:RE:RE:RE:Does anyone know ?? Its best to have the quote from Dec 16th as well.
Stevercan wrote: The debt would be owned by glencore with the KAT assets/revenue as collateral. Glencore could at any time call the debt and force Kat into bankrupcy. I suggest this will happen for tax writeoffs and they will buy the assets at a far reduced value and own it all. Why would they not? They don't need the 13% shareholders. I suspect someone of importance still owns shares and did not want to sell.
As mentioned earlier, I have significant concerns:
- There is little cash left. If I recall it was either $13m or $33m. Either way - Peanuts!
- They are authorized for up to 3.1 billion more shares
- They have already been advanced over $1.5B in cash for future sales revenue with no expenses to offset. The cash is already spent. That will take years to overcome. Very very concerning.
- They are in the Congo
Additional concerns:
- To think that Cobalt will be the only solution for electric cars is ridiculous. Technology advances way to fast. Current technology is not near good enough.
- In my opinion, it appeared that someone was propping up the SP Friday. Interesting that with essentially everyone in a profit situation that more shares were not sold. Very little volume in the afternoon. A floor was set.
Do NOT underestimate Glencore. Nobody/corporation gets filthy rich by being nice nor honest. Its a business, not a charity.
Just my opinion. I have had fun and will be back in later.
Good luck.