KAT Exploration Files 2023 Annual Report

TL;DR

KATX filed its 2023 10-K. All systems go for now.

AI Summary

KAT Exploration, Inc. filed its 2023 10-K on June 20, 2024, reporting its fiscal year ending November 30, 2023. The company, operating under the SIC code for Blank Checks, is based in Sunny Isles, Florida. The filing covers financial data and business operations for the period.

Why It Matters

This 10-K filing provides a comprehensive overview of KAT Exploration's financial health and business activities for the fiscal year 2023, crucial for investors and stakeholders to assess the company's performance and future prospects.

Risk Assessment

Risk Level: low — The provided text is a header and does not contain substantive financial or operational details that would indicate significant risk.

Key Numbers

• 20231130 — Fiscal Year End (Reporting period for the 10-K)
• 20240620 — Filing Date (Date the 10-K was submitted)

Key Players & Entities

• KAT EXPLORATION, INC. (company) — Filer
• 323 SUNNY ISLES BLVD, SUITE 745 (location) — Business Address
• SUNNY ISLES (location) — City
• FL (location) — State
• 33160 (location) — ZIP Code

FAQ

Key Financial Figures

• $10,000 — y, we expect to incur a loss of between $10,000 to $12,000 for the fourth quarter endin
• $12,000 — t to incur a loss of between $10,000 to $12,000 for the fourth quarter ending November
• $1,000 — mber 30, 2023 and thereafter of between $1,000 to $2,000 per quarter. The increase in
• $2,000 — 023 and thereafter of between $1,000 to $2,000 per quarter. The increase in fourth qua
• $56,330.00 — e Company had a loss from operations of $56,330.00. The loss is attributable to the consul
• $44,142.00 — 30, 2022, the loss from operations was $44,142.00. Liquidity and Capital Resources Sto
• $18,518 — rs' deficit as of November 30, 2023 was $18,518, as compared to $22,142 at November 30,
• $22,142 — er 30, 2023 was $18,518, as compared to $22,142 at November 30, 2022. The changes was d
• $125 — vember 30, 2023 of $NIL, as compared to $125 at November 30, 2022. The Company does

Filing Documents

• katx_i10k-113023.htm (10-K) — 303KB
• katx_ex3101.htm (EX-31.1) — 11KB
• katx_ex3102.htm (EX-31.2) — 11KB
• katx_ex3201.htm (EX-32.1) — 4KB
• katx_ex3202.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 9KB
• image_002.jpg (GRAPHIC) — 1KB
• 0001683168-24-004347.txt ( ) — 1648KB
• katx-20231130.xsd (EX-101.SCH) — 12KB
• katx-20231130_cal.xml (EX-101.CAL) — 17KB
• katx-20231130_def.xml (EX-101.DEF) — 22KB
• katx-20231130_lab.xml (EX-101.LAB) — 147KB
• katx-20231130_pre.xml (EX-101.PRE) — 114KB
• katx_i10k-113023_htm.xml (XML) — 102KB

Selected Financial Data

Selected Financial Data. 4 Item 7.

Management's Discussion And Analysis Of Financial Condition And Results Of Operations

Management's Discussion And Analysis Of Financial Condition And Results Of Operations. 4 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 5 Item 7B. Subsequent Events. 5 Item 8.

Financial Statements

Financial Statements. 6 Item 9. Changes In and Disagreements With Accountants On Accounting And Financial Disclosure. 6 Item 9A.

Controls and Procedures

Controls and Procedures. 6 Item 9B. Other Information. 7 PART III Item 10. Directors, Executive Officers and Corporate Governance. 8 Item 11.

Executive Compensation

Executive Compensation. 9 Item 12.

Security Ownership Of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership Of Certain Beneficial Owners and Management and Related Stockholder Matters. 10 Item 13. Certain Relationships and Related Transactions, and Director Independence. 10 Item 14. Principal Accountant Fees and Services. 10 PART IV Item 15. Exhibits. 12 i SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION This annual report on Form 10-K and other publicly available documents, including the documents incorporated herein by reference, contain, and our officers and representatives may from time to time make, "forward-looking" statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "believe," "expect," "future," "intend", "likely," "may," "plan," "seek," "will" and similar references to future periods actions or results. Examples of forward-looking statements include our prospects for one or more future material transactions, potential sources of financing, and expenses for future periods.

Forward-looking statements

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these

forward-looking statements

forward-looking statements. Any forward-looking statement made by us in this annual report on Form 10-K is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. ii PART I Item 1. Business. General KAT Exploration, Inc. (OTC "KATX") was incorporated under the laws of the State of Nevada on July 7, 1992 under the name Select Media Communications, Inc. The Company changed its name to In Full Affect, Inc in February 2005, and then to Western Transitions, Inc. in May 2005 and then to KAT Exploration, Inc. in May 2009. The Company maintains its principal executive offices at 323 Sunny Isles Blvd, Suite 745, Sunny Isles, FL, Telephone Number +1 (561) 899-8518. KATX is authorized to issue 2,450,000,000 shares of common stock, .001 par value. The Company had 1,834,271,048 shares of common stock issued and outstanding at May 19, 2024. The Company has had limited operations since November 30, 2015, and is a "shell company" as defined in Rule 13b-2 of the Exchange Act. Such operations consist of a search for appropriate transactions such as a merger, acquisition, reverse merger or other business combination with an operating business or other appropriate financial transaction. See "Current Business" below. Current Business Since November 30, 2015, the Company's operations ceased. The company failed to maintain their OTC and SEC filings at that time. On June 19, 2021, Acropolis Capital Partners was granted the Custodian for KAT Exploration, Inc. (KATX). Acropolis is qualified to serve as custodian because it has satisfied the requirements of NRS 78.347(2). Ash has established a "reasonable likelihood of success" on the merits and that if the relief is not granted, KATX and its shareholders, including Ash wi

Selected Financial Data

Selected Financial Data. Smaller reporting companies are not required to provide the information required by this item. Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion of our financial condition and results of operations should be read in conjunction with the selected historical consolidated financial data and consolidated financial statements and notes thereto appearing elsewhere in this annual report on Form 10-K. This discussion and analysis contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of various factors. See "Special Note Regarding Forward-Looking Information." 4 General The Company has limited operations and is actively seeking merger, reverse merger, acquisition or business combination opportunities with an operating business or other financial transaction opportunities. Until a transaction is effectuated, the Company does not expect to have significant operations. Accordingly, during such period, the Company does not expect to achieve sufficient income to offset its operating expenses, resulting in operating losses that may require the Company to use and thereby reduce its cash balance. For further information on the Company's plan of operation and business, see Item I, Current Business. Until the Company completes a merger, reverse merger or other financial transaction, and unless interest rates increase dramatically, the Company expects to continue to incur a loss of between $10,000 to $12,000 for the fourth quarter ending November 30, 2023 and thereafter of between $1,000 to $2,000 per quarter. The increase in fourth quarter expenses relates to a Company audit and 10K filings. Results of Operations and Financial Condition During the year ended November 30, 2023, the Company had a loss from operations of $56,330.00. The loss is attributable to the consulting fee and accounting expenses incurred during the year. During the year ended November 30, 2022, the loss fro

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. Smaller reporting companies are not required to provide the information required by this item. Item 7B. Subsequent Events None 5 Item 8.

Financial Statements

Financial Statements. KAT EXPLORATION, INC. INDEX TO FINANCIAL STATEMENTS Report of Independent Registered Public Accounting Firm F-2 Balance Sheets as of November 30, 2023, and 2022 F-3 F-4 F-5 F-6 Notes to the Financial Statements F-7 Item 9. Changes In and Disagreements With Accountants On Accounting And Financial Disclosure. None Item 9A.

Controls and Procedures

Controls and Procedures. Evaluation of Disclosure Controls and Procedures Our Chief Executive Officer who is also the Principal Financial Officer, after evaluating the effectiveness of our "disclosure controls and procedures" (as defined in Sections 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934) as of the end of the period reported in this annual report (the "Evaluation Date"), concluded that our disclosure controls and procedures were effective and designed to ensure that material information relating to the Company is accumulated and would be made known to them by others as appropriate to allow timely decisions regarding required disclosures. Management's Annual Report on Internal Control over Financial Reporting The Company's management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rule 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. Our internal control over financial reporting is a process designed by, or under the supervision of, the Company's Chief Executive Officer, who is also the Company's Principal Financial Officer, to provide reasonable assurance to the Company's Board of Directors regarding the reliability of financial reporting and the preparation and fair presentation of published financial statements in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Internal control over financial reporting including those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the Company's transactions and dispositions of the Company's assets; (2) provide reasonable assurances that the Company's transactions are recorded as necessary to permit preparation of the Company's financial statements in accordance with GAAP, and that receipts and expenditures are being made only in accordance with authorizations of the Company's management

View Full Filing

View this 10-K filing on SEC EDGAR