Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
21 June 2019registration revoked▼ BadMajor
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.
28 Mar 2014director officer appointment● Neutral
Stale Werner Nielsen and Bjorn Rene Singdahlsen resigned from the board - the last remnants of the 2008 Ulsteen/EPS-era board, consistent with the EPS merger's earlier lapse.
30 May 2013director officer appointment● NeutralMajor
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).
16 Apr 2013annual report● NeutralMajor
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.
25 Mar 2013auditor change● Neutral
Dismissed auditor John Kinross-Kennedy and engaged Anton & Chia LLP the same day (March 22, 2013), with no disagreements or reportable events cited - a clean, same-day auditor transition.
27 Mar 2012annual report● Neutral
FY2011 10-K: remained a dormant shell, net loss $56,789 for the year (cumulative deficit about $338,500 since 2006 inception).
29 Mar 2011annual report● Neutral
FY2010 10-K: a quiet year as a dormant shell still seeking a new business combination - net loss $5,276 (cumulative deficit since 2006 inception about $281,700).
31 Mar 2010annual report▼ BadMajor
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.
15 Apr 2009annual report● Neutral
FY2008 10-K: net loss widened to $50,939 (from $35,650 restated FY2007); the board approved a 10-for-1 forward split (authorized shares to 750 million) paid as a stock dividend Dec 12, 2008; the EPS merger was still described as pending, not yet closed.
20 Oct 2008business combination● NeutralMajor
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.
22 Apr 2008capital raising announcement● Neutral
Sold 300,000 restricted shares to accredited investors under Reg D for $12,000 ($0.04/share).
28 Mar 2008annual report▼ Bad
FY2007 10-KSB: reported a $37,753 net loss (deficit $37,979 since 2006 inception) on 3,387,500 shares outstanding, a going-concern qualification, and confirmed it had terminated its Storey County, Nevada mining lease on Jan 28, 2008 - abandoning the original mining plan in favor of exploring a merger, though no binding agreement existed yet.
25 Mar 2008director officer appointment● Neutral
Claydon and Moss resigned as directors and Stale Werner Nielsen and Bjorn Rene Singdahlsen were appointed to the board, completing the board reconstitution flagged in the March 7 Rule 14f-1 notice.
7 Mar 2008director officer appointment● Neutral
Filed the required Rule 14f-1 notice for the board reconstitution triggered by Ulsteen's takeover: Claydon and Moss to resign and Norwegian nominees Stale Werner Nielsen and Bjorn Rene Singdahlsen to join the board about 10 days later.
21 Feb 2008director officer appointment● NeutralMajor
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.
