[BitFunder] - KENILWORTH - Real World Mining Opportunity with Bitcoins

[jedunnigan]

https://creditorwatch.com.au/express/asic/organisation/119439691

NOTICE OF PROPOSED DEREGISTRATION - ASIC initiated Company details Company: KENILWORTH EXPLORATION LIMITED ACN: 119 439 691

Notice
ASIC proposes to deregister the Company under section 601AB.
ASIC may deregister the Company when two months have passed since publication of this notice. Date of publication: 16 July 2013

Anyone have anything to say about this?

[1715290343]

1715290343

[tinus42]

http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s601ab.html

It looks like even when they are not related to ASICs, ASIC wants to relate to them.

ASIC = Australian Securities and Investments Commission = the Australian stockmarket regulator (similar to the US SEC).

http://www.asic.gov.au/

[freedomno1]

Think this deserves being addressed also darn ASIC imitators XD

[eltonjock]

https://creditorwatch.com.au/express/asic/organisation/119439691

NOTICE OF PROPOSED DEREGISTRATION - ASIC initiated Company details Company: KENILWORTH EXPLORATION LIMITED ACN: 119 439 691

Notice
ASIC proposes to deregister the Company under section 601AB.
ASIC may deregister the Company when two months have passed since publication of this notice. Date of publication: 16 July 2013

Anyone have anything to say about this?

Well, that's the nail in the coffin for me...

[MrMochi]

Hope Prendergast does an update on what happens with the shares.

[Prendergast123]

Link to ASIC site:    

http://bit.ly/12XzZ9d

After looking at the site, please feel free to reTweet:
http://clicktotweet.com/dhw2c

[lg15x]

This is very curious that the price in BTCT is above 0.0017 but in Bitfunder is under 0.0006.

[adameb]

Link to ASIC site:    

http://bit.ly/12XzZ9d

After looking at the site, please feel free to reTweet:
http://clicktotweet.com/dhw2c

This is fine, but according to the this corporations act on from ASIC, http://www.austlii.edu.au/au/legis/cth/repealed_act/cl184/s601ab.html, the deregistering takes place 2 months afterwards.  The date of publication was July 16, so the fact that it hasn't been deregistered on Aug 7 doesn't mean much.

It begs the question, which of these reasons was the one that started the deregistering procedure?

   ASIC may decide to deregister a company if:

(a)
    the company's annual return is at least 6 months late; and
(b)
    the company has not lodged any other documents under this Law in the last 18 months; and
(c)
    ASIC has no reason to believe that the company is carrying on business.


    ASIC may also decide to deregister a company if the company is being wound up and ASIC has reason to believe that:

(a)
    the liquidator is no longer acting; or
(b)
    the company's affairs have been fully wound up and a return that the liquidator should have lodged is at least 6 months late; or
(c)
    the company's affairs have been fully wound up under Part 5.4 and the company has no property or not enough property to cover the costs of obtaining a Court order for the company's deregistration.

[jedunnigan]

Yea, a little more information would be nice.

[shadallion]

NEED AN UPDATE!!!

[Omen1855]

I also had my worries and contacted Mr. Prendergast. I support breaking out of the meta-bitcoin securities, and getting (also) into the real world. So I find this a very appealing investment for many reasons, if only it helps BTC becoming more mainstream.

Here are some answers from Mr. Prendergast that he gave permission for to publish:

Thanks for your support and I hope we can justify your confidence in our company and our IPO.
I wish to assure you that we are addressing all issues you bring up and we are very confident that
Kenilworth Exploration Ltd will succeed in closing its first round and returning our EM readings and improved valuation to shareholders. We believe that by putting our company stock completely into bitcoin that we are safeguarded our mineral resource value from currency and share fluctuations that will  inevitable occur as conventional fiat  currencies are reconfigured in the not too distant future as a result of QE pressure. I answer you questions below but would like further comment or questions and Thanks again for your support.


https://creditorwatch.com.au/express/asic/organisation/119439691
More so since ASIC in Australia in the mining business is not something I know a lot about. I have faith in your team and am willing to take a risk, but it would help if you would address that issue.

Answer:
Firstly : we have paid the ASIC fee and hope to have this rectified within a day on the official ASIC website / this issues is solely due to a error in payment transfer by OKpay a number that we have had in the past month

Next, what happens when the IPO fails reach its goal in the nr of sold shares? Is there is a guarantee of a buyback at failure in raising the capital, I could not find anything mentioned about that in the documentation, but I might have missed it. Or is investor loss just implied?

Answer:

Now we are working to make it succeed and we have taken out Advertisments in bitcoin magazine and want more suggestions on getting out to more people since two thirds of the visits to our site are from China we are putting up our offer document in Chinese and have employed a Chinese person we work with in another area to monitor and answer questions on the Chinese forum this should start next week.
If after three months we have not hit our target for round one,  I (Patrick T Prendergast ) will subscribe to close round one from funds I am currently in the process of making from the sale of a drug for hepatitis C which I invented and which has completed a 28patient study in Beijing this drug was valued at $75mil prior to patient  studies and from the results we expect to license for enough to our company Canopus BioPharma Inc to allow them pay outstanding royalty payments to me to allow me to contribute to complete round 1 and get the EM survey completed which we have great confidence will enhance our independent valuation which should be reflected in our stock price on BTCT and bitfunder .

I look forward to your comments and questions.

Regards

Patrick.

Patrick T Prendergast PhD.

Hope it helps, and make your own conclusions.

[Omen1855]

And afterwards,

Subject: Kenilworth registered again


Organisations & Business Names
    
KENILWORTH EXPLORATION LIMITED ACN 119 439 691      
 
Company Summary
   
 
Name:   KENILWORTH EXPLORATION LIMITED
ACN:   119 439 691
ABN:   25 119 439 691
Registration date:   27/04/2006
Next review date:   27/04/2014
Former name(s):   KENILWORTH EXPLORATION PTY LTD

Status:   Registered
Type:   Australian Public Company, Limited By Shares
Locality of registered office:   Dubbo NSW 2830
Regulator:   Australian Securities & Investments Commission

Which seems to apply to this http://dynamicbusiness.com.au/extracts/asic/organisation/119439691
Any Aussies or other people here that can verify this?

[101111]

Hope it helps, and make your own conclusions.

Confirms they are seriously incompetent. Sell while you still can.

[Sou]

I almost considered considering this as a good investment, but then i reconsidered.

[jedunnigan]

I almost considered considering this as a good investment, but then i reconsidered.

Lol, comedy gold.

[Peter Lambert]

So, no news, and no one is worried?

Have you been reading the thread?

I almost considered considering this as a good investment, but then i reconsidered.

Hope it helps, and make your own conclusions.

Confirms they are seriously incompetent. Sell while you still can.

Yea, a little more information would be nice.

Looks like other people are starting to worry.

[freedomno1]

So, no news, and no one is worried?

Have you been reading the thread?

I almost considered considering this as a good investment, but then i reconsidered.

Hope it helps, and make your own conclusions.

Confirms they are seriously incompetent. Sell while you still can.

Yea, a little more information would be nice.

Looks like other people are starting to worry.

Heck I would be too just watching this thread also gold price and the cutbacks to big names like Kinross and Barrick Gold makes the gold market unappetizing
http://www.cbc.ca/news/business/story/2013/08/01/barrick-gold-loss.html

[Prendergast123]

Link to Kenilworth Webinar - 8.21.13 :    

Time: 8/21/2013 5:00 PM (UTC-05:00) Eastern Time (US & Canada) for 60 minutes

Audience Log-in URL
http://www.anymeeting.com/kenilworth1

Registration Form URL
http://www.anymeeting.com/PIID=E958DF82864838

The company has secured funding to allow the initiation of the EM program.
We will have more details on Wednesday thus the rescheduling.

Apologies for the delay but the management believes
having the webinar on Wednesday, will be more informative.
As they will be able to share all of the new developments
which have enabled the commencement of the EM scan.

Sorry for any inconvenience which this short notice change of time/date has caused.

[Prendergast123]

Kenilworth Press Release - 8.21.13 :    

We are pleased to announce that Kenilworth Exploration Ltd, has secured an investment of $250,000 Australian dollars into our IPO at a value per share of BTC0.0018. These funds will be available in September together with funds already invested by our current shareholders. This now gives us sufficient funds to initiate our Electromagnetic Survey (EM) using Helitem Technology for certain portions of our three EL's. Helitem is the worlds most powerful time-domain electromagnetic system, ensuring the greatest depth of exploration possible for any electromagnetic system.

The IPO will remain open at the current offer price as this EM survey commences and the IPO (Round 1) will close on the presentation of our survey results in approximately four months. Our initial EM survey was budgeted to cost $456,663 Australian Dollars however this did not include supervision and analysis costs, so our current program will be reduced in size and be very targeted.

We intend to complete the full EM survey area following increased investor confidence with the release of the results in four months. We appreciate that investors on the bitcoin exchanges have been cautious in their support of our IPO. However, we believe by staying the course and proving the presence of mineralization we will build confidence in the permanence and long term value of our mineral assets.

Please feel free to reTweet:
http://clicktotweet.com/cvG22

[Prendergast123]

Click Link to listen:    

http://snd.sc/1753qp4