Kraig Biocraft Laboratories Inc (KBLB)

[Eskaminagaga]

The info I contacted Ben about had nothing to do with the transgenic silkworms, it is completely irrelevant to this discussion other than it shows evidence that old info is carried forward.

The wording concerning the transgenic silkworm was never changed. I looked all the way back to 2010 and the wording for the sentences that are in the S-1 that refer to not yet having transgenic silkworms are the same as the ones in the recent one.

Click Here for the June 2010 S-1/A.

2010's 1st statement:

We are a development stage company, and we may be unable to generate significant revenues and may never become profitable.

We are a development stage company that has not generated any revenues to date. We expect to incur significant research and development costs for the foreseeable future. We may not be able to successfully achieve a transgenic silkworm and/or successfully market fiber products we produce in the future that will generate significant revenues. In addition, any revenues that we may generate may be insufficient for us to become profitable.

2010's 2nd statement:

As a result of our limited operating history, we may not be able to correctly estimate our future operating expenses, which could lead to cash shortfalls.

We have a limited operating history from which to evaluate our business. We have not generated any revenues to date, and we have not produced a transgenic silkworm nor have we demonstrated the viability of our technology. Our failure to develop a transgenic silkworm would have a material adverse effect on our ability to continue operating. Accordingly, our prospects must be considered in light of the risks, expenses, and difficulties frequently encountered by companies in an early stage of development. We may not be successful in addressing such risks, and the failure to do so could have a material adverse effect on our business, operating results and financial condition.

Compare this to the recent S-1/A (Click Here):

2015's 1st statement:

We may be unable to generate significant revenues and may never become profitable.

We have not generated any revenues to date. We expect to incur significant research and development costs for the foreseeable future. We may not be able to successfully achieve a transgenic silkworm and/or successfully market fiber products we produce in the future that will generate significant revenues. In addition, any revenues that we may generate may be insufficient for us to become profitable.

2015's 2nd Statement:

As a result of our limited operating history, we may not be able to correctly estimate our future operating expenses, which could lead to cash shortfalls.

We have a limited operating history from which to evaluate our business. We have not generated any revenues to date, and we have not produced a transgenic silkworm nor have we demonstrated the viability of our technology. Our failure to develop a transgenic silkworm would have a material adverse effect on our ability to continue operating. Accordingly, our prospects must be considered in light of the risks, expenses, and difficulties frequently encountered by companies in an early stage of development. We may not be successful in addressing such risks, and the failure to do so could have a material adverse effect on our business, operating results and financial condition.

As you can see, other than removing the statements about being a development stage company, the wording is exactly the same. It is just copied and pasted from the previous S-1s.

I do agree that it should have been caught and corrected before now, though...