Thu, Jun 20, 11:59 AM (79 days ago)
KAT Exploration, Inc. (KATX), a Nevada-incorporated shell company, has been inactive since 2015 and is currently seeking merger or acquisition opportunities. For the fiscal year ending November 30, 2023, KATX reported a net loss of $56,330, primarily due to consulting and accounting expenses. This is an increase from the $44,142 loss in 2022. The company has no revenue and its stockholders' deficit improved slightly to $18,518 from $22,142 the previous year. The company issued 40 million shares for consulting services, increasing its common stock to 1,834,271,048 shares. KATX has no significant assets or cash reserves and is reliant on external financing, raising concerns about its ability to continue as a going concern. The company faces competition from various entities in its search for suitable business transactions. Management has identified no critical audit matters or changes in internal controls. KATX does not expect significant operations until a merger or acquisition is completed.