Kabe Exploration Inc.

The SEC revoked Kabe Exploration's securities registration by default (Opinion dated June 20, 2019, following a Sept 2018 order and a Dec 2018 show-cause order the company never answered), grouped with two unrelated companies - CrossClick Media, Inc. and Swingplane Ventures, Inc. - for failing to file periodic reports.

registration revoked

Entered letters of intent to buy Deep Rights on south-central Kansas (Cowley County) oil and gas leases: from Fortune Oil & Gas Ltd. for $781,000 (7,810,000 shares at $0.10, Jan 15, 2013) and from Sal Mazullo for $39,000 (Feb 15, 2013); also signed a non-binding term sheet with Phoenix Group Capital Markets, LP for Phoenix to buy up to $5 million of stock over 36 months at 50% of the lowest 10-day volume-weighted average price - a heavily dilutive structure. Separately appointed Roger A T Smith, a 35-year oil/gas drilling veteran, as director (350,000 shares).

director officer appointment

FY2012 10-K: net loss widened to $135,796 (from $56,789 FY2011; cumulative deficit $474,292 since 2006 inception) on 123.9 million shares outstanding; disclosed real progress on the new Kansas oil/gas pivot - a consulting agreement with geologist Sal Mazullo for drilling-site selection and an application for operator status with the State of Kansas; Ulsteen remained the company's only employee.

annual report

FY2009 10-K: net loss widened sharply to $183,342 (from $50,938 FY2008), including a $5,000 write-off from formally abandoning the Storey County mining leases and $50,000 in consultant fees; the EPS merger was no longer mentioned at all, replaced again by generic blank-check language - the deal appears to have lapsed without closing, though no termination was separately disclosed.

annual report

Signed an Agreement and Plan of Merger with Erik Ulsteen's own company, Emission & Power Solutions, Inc. (EPS) and merger subsidiary EPS Acquisition, Inc.: EPS shareholders would receive 1 Kabe share for every 5 EPS shares, closing conditioned on EPS shareholder approval - a reverse merger using the Kabe shell Ulsteen had taken over eight months earlier.

business combination

Erik Ulsteen bought 1,750,000 shares (51.7% of the company) from Antony Claydon and Rory Moss for $50,000 cash, taking control; Claydon resigned as President/CFO/Secretary and Ulsteen took those roles. Ulsteen had been CEO and Chairman of Emission & Power Solutions, Inc. (formerly Fuel FX International, Inc.) since 2004.

director officer appointment