KAT EXPLORATION, INC. Files Q3 2024 10-Q

TL;DR

KATX 10-Q filed for Aug 31, 2024. Financials for Q3 out.

AI Summary

KAT EXPLORATION, INC. filed its 10-Q for the period ending August 31, 2024. The filing details financial information for the company, which operates in the real estate and construction sector, specifically as a blank check company. Key financial periods covered include the three and nine months ended August 31, 2024, and comparative periods in 2023.

Why It Matters

This 10-Q filing provides investors with an update on KAT EXPLORATION, INC.'s financial performance and position as of August 31, 2024, crucial for understanding the company's operational status and future prospects.

Risk Assessment

Risk Level: medium — As a blank check company, KAT EXPLORATION, INC. faces inherent risks related to its future business combination and operational execution.

Key Numbers

• 2024-08-31 — Reporting Period End Date (Indicates the end of the fiscal quarter and nine-month period covered by the report.)
• 2023-11-30 — Fiscal Year End (Specifies the company's fiscal year-end date.)
• 2024-10-18 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• KAT EXPLORATION, INC. (company) — Filer of the 10-Q
• August 31, 2024 (date) — End of the reporting period
• 20241018 (date) — Filing date
• 6770 (dollar_amount) — Standard Industrial Classification code for Blank Checks

FAQ

Key Financial Figures

• $1,000 — cts to continue to incur losses between $1,000 to $2,000 per quarter. The Company does
• $2,000 — tinue to incur losses between $1,000 to $2,000 per quarter. The Company does not have
• $120,991 — e Company had a loss from operations of $120,991. During the quarter ended August 31, 20
• $560 — 31, 2023, the loss from operations was $560. No taxes were paid in the quarters end
• $18,518 — t 31, 2024, was $(152,324), compared to $18,518 at November 30, 2023. The attributable
• $40,370 — t cash used in operating activities was $40,370 during the nine months ended August 31,

Filing Documents

• katx_i10q-083124.htm (10-Q) — 301KB
• 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
• 0001683168-24-007215.txt ( ) — 1474KB
• katx-20240831.xsd (EX-101.SCH) — 9KB
• katx-20240831_cal.xml (EX-101.CAL) — 19KB
• katx-20240831_def.xml (EX-101.DEF) — 17KB
• katx-20240831_lab.xml (EX-101.LAB) — 132KB
• katx-20240831_pre.xml (EX-101.PRE) — 101KB
• katx_i10q-083124_htm.xml (XML) — 107KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Financial Statements. 4 CONDENSED BALANCE SHEETS 4 CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) 5 CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) 6 CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) 7 NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) 9 Item 2.

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

Management's Discussion and Analysis of Financial Conditions and Results of Operations. 10 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 11 Item 4.

Controls and Procedures

Controls and Procedures. 12

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1. Legal Proceedings. 13 Item 1A. Risk Factors. 13 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 13 Item 3. Defaults Upon Senior Securities. 13 Item 4. Mine Safety Disclosures. 13 Item 5. Other Information. 13 Item 6. Exhibits. 14 2 SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION This quarterly report on Form 10-Q 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," "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 quarterly report on Form 10-Q 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. Factors that could cause or contribute to such differences may include, but are not limited to, those described under the heading "Risk Factors" which may be included in the Company's Annual Report on Form 10-K for the fiscal year ended November 30, 2022 as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. The Company undertakes no obligation to revise any forward-looking statements in order to reflect events or circumstances that may subsequently arise. Readers are urged to carefully review and consider the various disclosures made by the Company in this report and in the Company's other reports filed with the Commission that advise interested parties of the risks and factors that may affect the Company's business. 3

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Financial Statements

Item 1. Condensed Financial Statements. KAT EXPLORATION, INC. BALANCE SHEETS August 31, 2024 (Unaudited) November 30, 2023 (Audited) ASSETS Current Assets: Cash and bank $ 40,370 $ – Prepaid Rent 5,000 5,000 Total Assets $ 45,370 $ 5,000 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Due to Related Party $ 182,851 $ 10,925 Accrued Expense 14,842 12,593 Total Liabilities 197,693 23,518 Stockholders' Deficit: Common stock, $ 0.001 par value; 1,834,271,048 shares issued and outstanding as of August 31, 2024 and 1,834,271,048 as of November 30, 2023 1,834,271 1,834,271 Additional paid-in capital 884,054 884,054 Accumulated deficit ( 2,870,649 ) ( 2,736,843 ) Total Stockholders' Deficit ( 152,324 ) ( 18,518 ) Total Liabilities and Stockholders' Deficit $ 45,370 $ 5,000 See accompanying notes to financial statements 4 KAT EXPLORATION, INC. (UNAUDITED) For the Three Months Ended For the Nine Months Ended August 31, August 31, August 31, August 31, 2024 2023 2024 2023 Income $ – $ – $ – $ – Cost of Sales – – – – Gross Margin – – – – Operating Expenses Advertising and promotion – – – – Consulting expenses 62,743 – 68,924 43,510 General and administrative expenses 58,248 560 64,881 862 Sales incentives – – – – Travel and entertainment – – – – Depreciation expense – – – – Total Operating Expenses 120,991 560 133,805 44,372 Loss from operations ( 120,991 ) ( 560 ) ( 133,805 ) ( 44,372 ) Other Income (Expenses) Other Income – – – – Total Other Expenses – – – – Net Loss before Income Taxes ( 120,991 ) ( 560 ) ( 133,805 ) ( 44,372 ) Income Tax Benefit – – – – Net Loss $ ( 120,991 ) $ ( 560 ) $ ( 133,805 ) $ ( 44,372 ) Net Loss per Common Share - Basic and Diluted $ – $ – $ – $ – Weighted Average Number of Common Shares Outstanding - Basic and Diluted 1,8

Management's Discussion and Analysis

Item 2. Management's Discussion and Analysis of Financial Conditions and Results of Operations.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS The following discussion may contain forward-looking posed by many factors and events that could cause the Company's actual business, prospects and results of operations to differ materially from those that may be anticipated by such forward-looking statements. The risks and uncertainties may be summarized in other documents that the Company may file with the Securities Exchange Commission, such as our Annual Report on Form 10-K for the year ended November 30, 2023. These forward-looking statements reflect our view only as of the date of this report. The Company cannot guarantee future results, levels of activity, performance, or achievement. The Company does not undertake any obligation to update or correct any forward-looking ANALYSIS OF OPERATIONS AND FINANCIAL CONDITION The Company has limited operations and is actively seeking a 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 this period the Company does not expect to achieve sufficient income to offset the Company's operating expenses, resulting in operating losses that may require the Company to use and thereby reduce the Company's limited cash balance. The Company's prepaid expenses during the nine-months ended August 31, 2024 remained unchanged. 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 losses between $1,000 to $2,000 per quarter. The Company does not have any arrangements with banks or financial institutions with respect to the availability of financing in the future. The payment of a

Quantitative and Qualitative Disclosures

Item 3. Quantitative and Qualitative Disclosures about Market Risk. Smaller reporting companies are not required to provide the information required under this Item. 11

Controls and Procedures

Item 4. Controls and Procedures. Evaluation of Disclosure Controls and Procedures As of the end of the period covered by this Quarterly Report on Form 10-Q, the Company's management has evaluated, under the supervision and with the participation of the Company's Chief Executive Officer and Chief Financial Officer, the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934). Disclosure controls and procedures are designed to ensure that information required to be disclosed in the Company's reports filed under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms and that such information is accumulated and communicated to the Company's management, including the Company's Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure. Based on this evaluation, the Company's Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective as of August 31, 2024. Changes in Internal Control over Financial Reporting There were no changes in the Company's internal control over financial reporting during the quarter ended August 31, 2024, that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting. Management does not believe that there are significant deficiencies in the design or operation of the Company's internal controls that could adversely affect the Company's ability to record, process, summarize and report financial data. 12

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings. None.

Risk Factors

Item 1A. Risk Factors. Smaller reporting companies are not required to provide the information required under this Item.

Unregistered Sales of Equity Securities

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. None.

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities. None.

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. Not Applicable.

Other Information

Item 5. Other Information. During the quarter ended August 31, 2024, no director or officer adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, as each term is defined in

(a) of Regulation S-K

Item 408(a) of Regulation S-K. 13

Exhibits

Item 6. Exhibits. Exhibit Number Description 3.1 Composite Amended and Restated Certificate of Incorporation, as amended through January 23, 2004 (incorporated by reference to Exhibit 3.1 to Form 10-12G filed with the SEC on October 4, 2021) 3.2 Composite Amended and Restated By-Laws, as amended through November 27, 2007 (incorporated by reference to Exhibit 3.2 to Form 10-12G filed with the SEC on November 15, 2021) 31.1 Certification of Principal Executive Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended 31.2 Certification of Principal Financial Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended 32.1 Certification of Chief Executive Officer pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 32.2 Certification of Chief Financial Officer pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 101 The following materials from KAT Exploration, Inc.'s Quarterly Report on Form 10-Q for the fiscal period ended August 31, 2023, as filed with the Security and Exchange Commission, formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Condensed Balance Sheets; (ii) Condensed Statements of Operations; (iii) Condensed Statements of Cash Flows; (iv) Condensed Statements of Stockholders' Equity; and (vi) the Notes to the Condensed Financial Statements. 104 Cover Page formatted in iXBRL (included in Exhibit 101) 14

SIGNATURES

SIGNATURES In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. KAT EXPLORATION, INC. Date: October 18, 2024 By: /s/ Gregory Klok Gregory Klok Chief Executive Officer and Vice President (duly authorized officer) Date: October 18, 2024 By: /s/ Gregory Klok Chief Financial Officer (principal financial officer) 15

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