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I was thinking today…maybe nobody knows what’s going on with Kraig specifically, but many people probably know the chances of Air Force funding…
Sounds about right lol
I used to own 1.5M shares. I now own 250k. The faith I have in this company to produce a commercial quantity of any product they’ve developed is nearly gone. The 250k shares are left not because I believe the company will succeed at selling spider silk, but rather they will produce a pr that pumps the price substantially higher than current level. At that point I’ll sell those also. Really sad what this company has done to their investors over the years.
It would be great if Kim could do one last pump so I could do one last dump????
How much time do I have? I’ve thought this before and had many years ahead to buy at a lower price…
Don’t know Rice’s reasons for exercising the warrants now but if he starts selling large chunks at these levels or lower I’ll be selling along with him.
I’ve sold a ton of shares over the last couple weeks. My main reason is that I have a cost basis around .08 and I’m down plus or minus 50 percent at current levels. There are so many investments that are down the same or more and have a greater chance of upside (in my opinion) as long as the greater market moves up. Kraig has a chance of exponential upside, but I struggle with not knowing how close they really are. Could be in the “coming weeks”, could be years. I’ve been thrown off so many times thinking success was just around the corner. Many here claim that big news is imminent, but it’s purely a guess. What I won’t do, however, is be stuck with an oversized investment that continues to disappoint (or that I claim is a scam), and hold onto it grumbling every day for years. I’d love to see them succeed and I’d buy a Spydasilk product in a heartbeat, but I can’t stomach the thought of financing running out before they get there and I’m left holding a bag that’s much too large. I wish everyone the best and I still have a pretty substantial holding, I just had too many eggs in this basket.
I sold around 900k shares today
That’s why I’ve made the decision to decrease my position this year. Hopefully he can stumble into some sort of success and ease my losses along the way…
True…if they can convey to investors that production is NOT in no man’s land the price can rise. Waiting 2 quarters for a production update only to share news that leaves more questions than answers surely won’t do it. Unfortunately that’s what investors have come to expect. Sentiment can turn on a dime for sure though….
Kim would be the only one to “hit the accelerator” as soon as he saw a speed bump… Breaking the proverbial frame in half lol
You lost me at “the good word of Kim”
That’s my theory exactly
Hope there’s more to come
Anybody selling some of their position this year? I have 1.5 million shares. I plan on selling 100k a month starting this month. Hopefully I’ll see a little strength along the way but I’m not hopeful. I’ve had enough for long enough. The broader market is down so I’ll reinvest and hopefully regain most of those losses in the long term.
Cool let us know what you find out
July 18 pr…”The Company expects to immediately begin operations with this contractor producing hundreds of kilograms of spider silk per month and to achieve production levels reaching multiple metric tons of spider silk per month as early as the first quarter of 2023.”
Well the company did say that the pilot program produced enough silk for the apparel launch. Of course there is so many unknowns so it is hard to estimate, but one would believe that 10 pounds of material is a pretty low number for that kind of event.
They don’t know anything about production production numbers, but we do know about the number of shares they hold. 20k at my last count…they like to keep us updated
Well the share price isn’t tanking…yet anyway
How about this angle… They might not have to harvest tax losses if he’d release some damn news…
Still a few “weeks” left in 2022…anyone “expect” these communications from the company to come to fruition yet this year?
Jan 18 2022
“2022 is positioned to be a breakout year for the commercial sales of Dragon Silk and our broader recombinant spider silk technologies.”
Feb 10 2022
“In the coming weeks, the Company expects to be ready to formally launch the Spydasilk website and brand.”
I’d take 20 cents right now and run so fast you’d think I was sonic the hedgehog
It’s not probable but if/when they achieve mass production it’s not ridiculous at all…
I would like to hear your reasons for withholding this info. Not being facetious, just curious. I don’t know Kim. None of us do I assume, so to make judgments about his character is just more speculation. My issue really is much bigger than a CEO a penny stock company. It’s anyone who is in a position of leadership that doesn’t receive any direct scrutiny from those they are accountable to. (Shareholders in this case). But think about what our lawmakers would do without public scrutiny. Would you just put your trust in them knowing they always had all the best intentions? I should hope not. Some of us assume Kim has the company’s and our best interest in mind, some don’t. Either way, we have absolutely no voice to question anything that management does at any point, and the company will not directly respond to any inquiry in my experience. All we can do is wait.
I don’t think anyone is asking for their trade secrets. I’m certainly not. The “transparency” all the shareholders want to see are in the form of questions like…did you produce a product? How much of it did you produce? How long did it take? Did you get paid for the product? How much did you get paid? Etc…Kraig has held a lot higher share price in the past, probably strides behind where they are now as a company, but eventually some of these questions will have to be answered. Any company becomes uninvestable for many over a long enough period of time without any of these questions answered. If and when they reach “mass production”, of this first-ever product, the company should be shouting it from the rooftops…I can’t think of any logical reason why they wouldn’t….the silence is what makes many feel they’re not there yet. Maybe they are and just not communicating it. The only reason I can possibly come up with …”that’s just Kim”
When your operation has been funded in its entirety by investors, it’s not unreasonable for them to want to know what’s going on. Investing in this type of business is inherently risky but communication from competent leadership can improve investor sentiment greatly. With Kraig’s style of communication, even investors that follow all the Pr’s and do their own dd still have no clue when to expect things like Spydasilk launch, actual production numbers, revenue, etc…only speculation, of which many have been wrong countless times. That uncertainty is the absolute main factor driving the share price. You may say that the share price doesn’t matter, and maybe that’s true in the short term, but WHEN more financing is needed it’s gonna matter…
No doubt, and I keep hearing talk about an uplist…this thing is a short sellers wet dream
I should’ve had the brains to sell when Kim was selling lol
It’s baffling to me that they haven’t disclosed any info on production. Going on 5 months now from my count. Wow. I wasn’t necessarily expecting any news at the 90 day mark because I knew that would make too much sense, but it’s sad we haven’t been told anything.
The only thing I “expect” to see “soon” is the 2022 holiday letter…
I’m right with you there as far as disappointment goes. (Along with many others) A major issue is that the company doesn’t directly deal with any shareholder scrutiny. You can talk to Ben, but you won’t get any real answers. Some posters on here get upset with all the negativity but it’s the only place to vent and try to make the best educated assumptions of what’s really happening based on the limited information available. Sad to see the sp where it is, more than 4 months since last production news, no Spydasilk launch, and no clue when any of this info is coming. I certainly hope they can make something happen before this financing runs out. The company makes it sound like they are so close, but we’ve all seen how that has played out time and time again.
Not gonna get it if the buys are higher. There’s a narrative here.
With all due respect, that statement is just not true. Kim mentioned hundreds of kilogram production with a ramp up of 90 days. It’s been over for months now without a peep. I’m not going to speak for all of his investors, I’ll only speak for myself. I want to know how production is going. Until he tells me that, or launches a product that proves he is producing, he’s not giving me the info I want as an investor. It’s really just a simple as that. Really always has been.
Lol, if I’m going to answer that honestly I’m gonna say we all want to be positive. Almost all anyway. The lack of news and the share price make it challenging. Here’s to hoping the next few months are better than the last few.
On a positive positive note… We should see the news flowing in now… What I’ve been hearing for months now is that the news will be released once the Yorkville selling is over.
I follow Kraig on Facebook. The sentiment over the last say 18 months to two years has been cautiously optimistic. When they released the latest PR, it was very clear that investors in general are just beyond fed up. Three cent share price and no production update in 4 months. We are at the time where people want to hear that the numbers the company claimed back in July are being produced. The problem is, every time the company has supposedly been on track with mass production, it has ended in failure. It’s past time.
How about this novel idea…sell silk
We don’t need a pr that confirms they can convert shares into money to pay off debt…they’ve proven they can do that. We need a pr that says they can convert spider silk into money….