This is the email from IR not long after the PR,which I received from some body else not long ago and have permission to post from the one who received it:

"KMG will become a publicly traded reporting company ASAP, once all SEC requirements (audits,etc.) have been met.

Sincerely, KMG Public Relations.'

logically only reason to mention audits is to have audited financials-which is a requirement for being an SEC (OTCBB) reporting company

pinksheets very rarely have audited -and when they do its usually part of a process to uplist- only OTCBB (fully reporting companies) have audited.

Everything we know indicates they intend on uplisting  to OTCBB just as Bob intended -May 26 2011 PR- but couldnt due to JV partner allegedly withholding and commingling receipts-thus blocking financials. This should not be a problem moving forward now because no JV activities since the Loreto ship left ca Aug 7 2011-so now they can do 2 years audited financials-w notes re legal