Kraig Biocraft Laboratories Inc (KBLB)

[DimesForShares]

Funding Entogenetics...

Entogenetics received a contract W91CRB10R0073 for $309,159 and received the full disbursement on 6/17/2013.

But a second transaction pulled $46,374 back from the company on 3/3/2016. The purpose was to de-obligate last 3 performance base payments. My guess is that Entogenetics could not supply whatever they agreed to in the contract and so the Army cancelled the contract and demanded their money back.

KBLB has a different kind of contract. The initial phase was for $99,962, while the total contract has a value of $1,021,902. This contract ends on 6/23/2018. If they pass the Phase I trials, they will receive the balance of funds for Phase II.

Evidently Entogenetics has not been able to patent their gene sequences as of October 2014. KBLB's gene sequence is protected by a patent from U of Wy.