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It seems to be yearround according to this article that talks about rice and coffee farmers there switching to sericulture for a "steady income"
https://en.vietnamplus.vn/lam-dong-sericulture-farmers-find-livelihoods-steady-post166039.vnp
From the Form 424B3 - Prospectus [Rule 424(b)(3)] released yesterday (June 10 2024 - 4:30PM)
We are actively pursuing relationships within our targeted end markets to secure product collaborations with key market channel leaders, but no definitive agreements have been entered into as of the date hereof. We have received numerous unsolicited requests from leading businesses across a range of attractive end markets requesting materials for applications development, which is most likely due to the unique nature of our product. This substantial interest in spider silk materials across abroad spectrum of applications for high performance fibers and textiles, combined with the limited initial production capacity, provides the potential to be selective in choosing the market channel partners best able to quickly bring our product to market at scale. We are working under non-disclosure agreements to secure these collaborative development agreements and to establish limited channel exclusivity for firms we believe mirror our culture of innovation. In January 2021, we entered into a partnership and exclusive purchase agreement with M the Movement by Kings Group, pursuant to which they committed to purchase up to $40 million worth of product. This partnership will establish a jointly owned apparel and fashion brand headquarter in Singapore focuses on sales to the ASEAN region. With recent advancements in our manufacturing capacity, we expect to generate revenues from these relationships in 2023.
This last line seems like a copy and paste from a previous form or a typo.
Risks Related to Our Product and Business
Our business is based on scientific research which has not demonstrated commercial viability and makes our business highly risky.
This is bolded in the report.
All in all, I find the writing in the prospectus much more straightforward than PRs.
I would beg to differ. The only said they expect it to serve as the operational center for the spring trials, which is more ambiguous word salad. At this point, they have it down to a science.
While many on this board disparage your negative vibes (which others could just as easily call "due diligence" or "realistic approach"), your ability to research and your command of the information that has been shared in PRs and on this board over the span of years is nothing short of impressive.
Only time will tell if some form of spider silk will ever be mass produceable. The last 10+ years have shown many almosts, jukes, fakes, fades, and pivots--intentional or not. I hope KBLB can succeed, but enjoy a healthy dose of reality along with my hope.
I don't know. It seems to me this is more of a well-worded PR. If you have silkworms that can produce some form of spider silk, then produce. If you're having a "trial," it implies you don't know if they are viable or not. Otherwise, call it Stage 1 Production. I read "trial" here as being from the same thesaurus entry as "ramping up," "getting ready to," "planning on," "launching," etc.
Setting that aside, I'm happy its at .08 now and not .03.
the launch of spring production trials begin this week...
It might take a little time for shareholders to wake up
The doubling of the PPS in three months is great. This has mostly been done on anticipation of this year's production season.
While these blends are targeted for luxury and fashion wear, the Company remains focused on its development of technical applications for its spider silk materials in defensive textiles, composites, and performance apparel.
Great post WebSlinger. This pretty much sums up the PR.
He did seem a bit more forward in addressing shareholder concerns toward the end though. I count that as a first (or maybe a second...my memory is foggy after countless forward-looking statements over the years).
At the least, this PR tacitly admitted a lot of things this board has pointed out as problems and seemed to imply they'd like to produce but just haven't found out how to do so yet.
A sell request of 100,000 at $0.1545 was entered at 10:28 am. That's curious. It'd take something mighty to get back in the mid-teens
Ah, yes. I remember the feverish excitement of potentially uplisting to Nasdaq, so that institutional investors could finally get a piece of the pie. Haha.
I swear each year or two is like a new season of a TV show called "How the Lab Spins," which viewers originally thought meant the spinning of silkworm silk, spider silk, any sort of thread, but which has become more and more seen as the spinning of a web of deceit, half-truths, forward-looking statements, and new approaches to keep the gravy train flowing. Haha
Season 1: Notre Dame
...
Season 5: Army Shoot Packs
...
Season 10: Vietnam, Land of the Silkworm
Season 11: Vietnam Rebooted
Season 12: M, the Movement
Season 13: The Cold Snap of Vietnam
Season 14: A Cameo by the Air Force (in the form of a news release reporting potential interest in a future product made by a healthy batch of transgenic silkworms yet to be hatched)
I know a few on this board keep hoping in one episode someone will *finally* find a secret stash of spider silk hidden in some forgotten Vietnam warehouse, or even stored on the several acres of trees planted in Texas. It will prove that production was happening all along. Haha
DISCLAIMER: I may have mixed up some facts here and there. My apologies. It's hard to keep so many things straight after so many years.
It's amazing what kind of rebalancing happens to the stock price when shares from toxic debt aren't being sold off all day every day.
Very cool article. Thanks for sharing.
Hopefully their efforts to "explore scaleup and manufacturing possibilities" won't take the same path the KBL did.
Was it Mojo or who that called this?
The Company expects to release the second video in its behind-the-scenes series taking viewers inside its spider silk production facilities next week.
Did you ever think that things are written this way on purpose until KBLB shipments start going out?
Does anyone know why this is the case?
This year it seems there's been a lot of what looks like buffering of the stock price--a large sell order to stop it from going too high and a large buy order to prevent it from dropping too low. What would be the motivation for such? Or am I misreading things completely and it's just most like just two innocuous stock traders doing their thing at 200x - 500x the most common lot unit?
15k buys....471k sells...
I echo that Ruskie; curious plot twist indeed.
But do you know what is not a plot twist?
Kraig Labs is ready to accelerate the scale-up of silkworm production with the scheduled delivery and installation of new quality control (“QC”) lab equipment.
Longrider
I was quoting an older movie "The Princess Bride"; in retrospect, I should have altered the quote to say "those words." I am just trying to bring attention, like others, to the over-the-top (and vague) verbiage in the PRs.
I think a lot of shareholders would love to be loyal. That's why we've been here for so long. But the PRs feel more and more like a shell game.
Q
"The delivery of the first composite fabrics to Spydasilk is a major advancement for the Company"
Blueazur,
Yes, that is what the PR said. The problem for me and others on this board is not what the PR said but what it doesn't say. It's been like this for a long while now--the words seem to say one thing but if you think about it, it does not say anything.
The first batch of recombinant spider silk cocoons has already been completed at this new headquarters for Prodigy Textiles.
South of the equator would be a great place to open another factory if production is still the goal.
Given the silk season in Vietnam is not year round, setting up something in Australia for example would give Kraig a chance at year-round production.
Given the fact that it's July now, I don't see any earth-shattering PRs coming out for this year.
Yay, the long-awaited PR confirming production is here!
Or is it?
considerable investments in strengthening its Vietnam based production operations
Automated equipment...to speed up and expand silk production
Kraig Labs is in the process of receiving and installing equipment
The new equipment will support the next phase of expansion, improving and automating a critical production step
The Company’s production facility has been in continuous operation with output limited by continued COVID-related restrictions on shipping and travel...The new equipment will support continued production, circumventing bottlenecks resulting from COVID-related restrictions
Maybe I’m reading too much into this, but it would explain why we aren’t seeing any follow up announcements on silk being shipped to anyone
Well stated!
Yeah, I was going to say, then why the emphasis on sports wear/casual wear
The majority of the general population doesn't want to deal with dry cleaning casual wear (yet that is what MtheMovement makes).
it causes super shrinkage when wet, making it difficult to maintain the dimensional stability of products made from the material.
Webslinger, there was the shipment of silk that KBLB did to itself. That should count for some sort of proof, right? Oh, wait. There weren't even any pictures of that. Maybe we could get some from Ben? Man, I miss the old days when we actually got to see tangibles, like a roll of silk, the outside of a factory, or even just a clipboard being handed around.
In all seriousness, the most likely application of the 4 mill (in terms of positive interpretation) would be efforts in production. It is just unclear what that would entail. Could it be they're buying cocoon spinning machines (like this one:
And this is a prime example that shows that most people will look at the PRs, but they won't look at the SEC filings. This is one reason why Kim hides many of the details in the SEC filings (eg, the reverse split).
Apparently it's going to take a positive sizeable and specific production report to move the stock price upward.
My lucky day. I ask one poster and get three responses. A sincere thanks.
First a response to Rayovac
You do not go from extremely strong/desirable Spider Silk properties to production by any single logistical advancement. You do not do the impossible with nothing but small steps.
If hiring someone is PR worthy, so is their departure.
Announce production and this is a nothing burger.
No risk of being overly optimistic or seeing any reasons for optimism
Notice how there is never, EVER, any indication of anything that would point to some sort of progress being made?
What part of looking at increased staffing, increased production inputs and accelerated production timelines leads one to believe "undying optimism" is required to feel like the company is progressing?
why don't doubters have any burden of proof?
the rabbit hole of name calling, other than I guess it must make you feel good to try and belittle others
it has implemented new quality assurance management and production procedures at Prodigy Textiles, the Company’s Vietnamese subsidiary, based on lessons learned from its production rollout.
The production hiccup caused by the winter launch is not expected to impact the Company’s business plan or prospects...The Company’s plans to produce its first commercial batch of Dragon Silk are still in progress.
The Company has remained in communication with its collaboration partners, informing them of this temporary delay in shipping,
Here’s KBLB IR answering of their own accord when directly asked
As a result of that contract, the Company brought its research operations in-house, opening its own research laboratories and expanding its scientific staff. This transition to in-house operations has led to a series of new technical breakthroughs and is believed to have accelerated the pace of new development.
Without adequate funding, we are unable to expand operations and accept opportunities for large scale production of our products
Somebody
Facts are sb's opinion. Got it. That makes a lot of sense.
Perhaps you can enlighten me with your facts/opinion:
1. Is the board seated yet?
2. Did the cold weather kill the worms?
3. Did KBLB mention anything of their own accord about their chief scientist leaving/quitting/getting fired?
4. What happened to the Army contract?
5. What is the deal with Polartec's MOU?
6. Is the contract with M for $250k or $4 mil?
7. What happened to the acreage in Texas?
8. What happened to plans to expand into other countries?
9. What happened to the pure spidersilk they achieved in the lab?
10. Are they still using knock-in knock-out?
And to dispel doubts, I generated this list on my own.
Thanks for skipping over everything else in the post.
I guess that makes your defense: LOL.
Nice.
Are they producing (as they have already provided evidence of doing) or not? I'm going with the former.
WRONG...all those things HAVE been announced...you know what HASN'T been announced?....MASS PRODUCTION...and until it is announced, IT DOES NOT EXIST...
Interesting. Care to elaborate on this theory? What would be their motivations?
And if it is related to uplisting, AND the new R/S provision is good until 12/31, are we to expect fluff from now to potentially Dec?
Just curious as to your thoughts on this. I don't know anything about bridge loans, so I'm not sure what control Maxim could have or why they would want to limit PRs to vague statements of wispy air.
After all, if we haven’t heard something directly, publicly, from the company it means nothing is happening.