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Correction Notice: Orpheum Property, Inc. (OTC: PLFF) issued a correction to its March 11, 2022 press release. The correction relates to the company's transaction involving 31,911 XUSD Prime (XUSDP) crypto coins, which were contracted for $25 million. The firm sold 5,000 XUSDP coins for a $5 million Promissory Note. Currently, the Company is collaborating with RoRa Corp to develop its own tokens, separate from XUSD Blockchain Holdings. Forward-looking statements reveal management's belief and expectations regarding future operations.
ORPHEUM Property, Inc. (OTC: PLFF) announced on March 11, 2022, that its division, KLMKH, Inc., filed for Chapter 11 bankruptcy protection in North Carolina due to a $4.67 million judgment. This move aims to address financial obligations while keeping the Company's separate assets unaffected. The Company is expanding its operations, including into cryptocurrency and energy sectors, with plans for significant revenues through major project negotiations. Management anticipates resolving KLMKH's financial issues within 60 days, utilizing revenue and loans.
On December 23, 2021, ORPHEUM Property, Inc. (OTC: PLFF), doing business as KLMKH, announced that Appalachian Royalty Company (ARC) received a court order allowing it to collect on a judgment from June 2021. This judgment stems from a failed delivery contract affected by COVID-19. CEO Randy Franklin indicated the company is prepared for the collection and is working on projects to address this and other debts. KLMKH focuses on oil, gas, and solar energy, aiming to expand its operations and fulfill financial obligations by leveraging potential new projects.
KLMKH Inc. (OTC: PLFF) announced a partnership with Turvata Holdings Limited, a lead investor for its 144a Convertible Digital Token Notes. The company, which operates in oil, gas, and solar industries, will now accept major digital tokens for transactions, positioning itself to raise capital and achieve long-term goals in green energy. This collaboration focuses on sustainability in energy sectors and digital markets. KLMKH continues to expand operations through acquisitions while leveraging advanced techniques for oil and gas production.
KLMKH, Inc. (OTC: PLFF) has amended its Definitive Merger Agreement to authorize and issue additional shares for the merger's completion. The company is enhancing its oil field infrastructure in Kansas, with a new lift design improving performance and reducing operating costs. Current production is expected to rise from 30-50 to 100-120 barrels per day by Q2 2021. Additionally, KLMKH is exploring cryptocurrency development as a future revenue stream. These initiatives showcase the company's strategy to diversify its operations and strengthen its market position.
On March 10, 2021, ORPHEUM Property, Inc. (OTC: PLFF) announced a tax-free share exchange with KLMKH Inc., effective January 29, 2021. Following the merger, the company will adopt the name KLMKH Inc. and maintain the ticker symbol PLFF. A reverse stock split at a ratio of 1 to 0.304233 will also occur. KLMKH, a diversified energy company focusing on oil, gas, and solar, is expanding operations through acquisitions, particularly in the Midwest. This merger aims to enhance its growth strategy and accelerate development in traditional and renewable energy sectors.
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