K's Media (KVME.OB)

Until very recently this was Kingslake Resources which was in such great shape that they had a going concern of

"In September 2007, the Company dropped the property as a review of the aeromagnetics of the property showed no apparent anomalies and the geologist recommended no further work on this property."
http://sec.gov/Archives/edgar/data/1368256/000139327908000041/file10qsb.htm

whoops looks like they bought the wrong land.There is as they say "No gold in them hills". So their solution was to become a chinese nightclub advertiser! Clearly the synergies are obvious.

"As a result of the share exchange, the Company is involved in advertising business that targets at high end consumers in China by placing premium brand advertising in "KTV" clubs on behalf of top-tier consumer products clients. KTV clubs are popular entertainment establishments in Asia that rent private rooms containing karaoke singing equipment, typically to groups of friends and business colleagues."

Sweet the company is saved or is it?

"The Company has incurred net operating losses since inception. The Company faces all the risks common to companies that are relatively new, including under capitalization and uncertainty of funding sources, high initial expenditure levels, uncertain revenue streams, and difficulties in managing growth. At January 31, 2008, the Company has accumulated losses of $23,823 since inception. The Company’s recurring losses raise substantial doubt about its ability to continue as a going concern. The Company’s financial statements do not reflect any adjustments that might result from the outcome of this uncertainty. The Company expects to incur losses from its business operations and will require additional funding during 2008. The future of the Company hereafter will depend in large part on the Company’s ability to successfully raise capital from external sources to pay for planned expenditures and to fund operations."

ooh guess not, they need money . guess how they are going to raise it?
http://biz.yahoo.com/prnews/080425/cnf025.html?.v=7

"The capital will be raised via private placement and is expected to be finalized shortly. Prior to this placement, K's Media reserved HK $10,000,000 (approximately US $1,280,000) to execute its business plan in the advertising market. With the additional $5 million working capital, K's Media will be better equipped to achieve its goals.

"With these funds we will also be qualified to apply to the upper level of the stock market, such as NASDAQ. This means we will be able to drum up more investors. I believe K's Media will become one of the most prominent media companies in China with our unique advertising system and our sustainable development," commented Yan Zhuang, CEO of the Company.

well PIPES do suck but it's not the end of the world necessarily but Forbes Informer might be
http://www.forbes.com/business/forbes/2008/0505/030.html

"Singing the Same Old Song

In eight months split-adjusted shares of a young Canadian outfit once named Kinglake Resources and now named K's Media have jumped 16,000% to a recent $5.49 for a $116 million market cap (U.S. dollars). That's 100 times the latest book value for the firm, which had reported no revenue during its two-year quest for minerals in mineral-rich Canada. The company has listed at least three different headquarters addresses around Vancouver; the latest is at a mail-drop business center. Thanks to a reverse merger, the unexpected new line of work: placing advertising at entertainment clubs in China featuring karaoke (the K in the new name). A p.r. rep for K's Media declares, "Investors have confidence in the Chinese media sector."

--William P. Barrett "

This ought to be fun. :-)