Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
A good book for background information on how I think Kim wants to do business is:
Global Embrace, Corporate Challenges In A Transnational World by no other than Henry Wendt.
My guess is that we will be producing BIG RED in Vietnam.
We at one time had a guy who used to post here called dadofduck who is a Brit business man living and working in Vietnam. Unfortunately he was banned for speaking the truth a little to forcefully. I hope he is still reading the KBLB board and decides to post again under another name. We could used his insight on the latest developments.
Hope all is well with the little duck also.
You are bruising my brain with EteRNA.cmu.edu but I am a glutton for punishment. ;)
How about some verifiable proof that you are not. :)
Is anyone familiar with a book called "Regenesis" by George Church and Ed Regis?
I am reading it now and recommend it to anyone who wants a better depth of understanding of the mechanics of the science involved in what KBLB is doing. Very cool stuff!!!!
It is a great explanation of "how synthetic biology will reinvent nature and ourselves".
Only Daddy-Long-Legs break the rules. hahaha
I agree with you at C or D.
Another survey question for everyone as we all seem to have nothing better to do today ;)
What do you think the pps will be one week after the first PR of 2014?
I know there are major variables on this but my wild guess is: ".09"
That helps...
This been around the block on the board many times in the past but it is still popping up in Reuters UK from time to time.
http://uk.reuters.com/video/2014/01/02/human-skin-strengthened-with-spider-silk?videoId=221678214
Thank you ray. You are right. The date at the top got me.
Ho-Ho-Ho
Form 10-K/A for KRAIG BIOCRAFT LABORATORIES, INC
--------------------------------------------------------------------------------
24-Dec-2013
Annual Report
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
Caution Regarding Forward-Looking Information
Certain statements contained herein, including, without limitation, statements containing the words "believes," "anticipates," "expects," "plan" and words of similar import, constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
--------------------------------------------------------------------------------
Such factors include, among others, the following: international, national and local general economic and market conditions: demographic changes; the ability of the Company to sustain, manage or forecast its growth; the ability of the Company to successfully make and integrate acquisitions; raw material costs and availability; new product development and introduction; existing government regulations and changes in, or the failure to comply with, government regulations; adverse publicity; competition; the loss of significant customers or suppliers; fluctuations and difficulty in forecasting operating results; changes in business strategy or development plans; business disruptions; the ability to attract and retain qualified personnel; the ability to obtain sufficient financing to continue and expand business operations; the ability to develop technology and products; changes in technology and the development of technology and intellectual property by competitors; the ability to protect technology and develop intellectual property; and other factors referenced in this and previous filings.
Given these uncertainties, readers of this filing and investors are cautioned not to place undue reliance on such forward-looking statements.
Recent Developments
On September 29, 2010 the Company jointly announced with the University of Notre Dame that it had succeeded in producing transgenic silkworms capable of spinning artificial spider silks. Approximately twenty different strains of transgenic silkworm were produced by incorporating spider silk DNA into the silkworm's genome. The resulting transgenic silkworms produce a new recombinant silk fiber which is a composite silk consisting of both spider silk proteins and endogenous silkworm proteins.
On April 8, 2011, the Company entered into a licensing agreement with Sigma-Aldrich. That agreement enables the Company to use Sigma-Aldrich's proprietary zinc finger technology for the development of new recombinant silk fibers The agreement also contains an option which Kraig can exercise for the commercialization rights on products it develops with this technology. Management believes that this technology will greatly accelerate the Company's development of new products and significantly streamline the research and development process. Management also believes that the precise gene targeting and high efficiency of this zinc finger technology will allow the Company to build on the research success it announced in September 2010 by enabling the Company to concomitantly target the insertion of spider silk genes into the silkworm genome while removing endogenous silkworm silk genes. The Company expects that the resulting transgenic silkworm will be capable of spinning pure spider silk at commercially viable production levels.
On June 28, 2011, the Company entered into a letter agreement for an equity line of credit (the "Letter Agreement") with Calm Seas Capital, LLC ("Calm Seas"). Under the Letter Agreement, during the period ending on August 12, 2013 we may put to Calm Seas up to an aggregate of $1,500,000 in shares of our Class A common stock for a purchase price equal to 80% of the lowest closing "bid" price of our Class A common stock during the five consecutive trading days immediately following the date we deliver notice to Calm Seas of our election to put shares pursuant to the Letter Agreement. We may only put shares at the beginning of each calendar month, unless Calm Seas accepts an additional put (as described below). The dollar value that we will be permitted to put each month pursuant to the Letter Agreement will be the lesser of: (A) the product of (i) 200% of the average daily volume in the US market of our Class A common stock for the ten trading days prior to the date we deliver our put notice to Calm Seas multiplied by (ii) the average of the daily closing prices for the ten (10) trading days immediately preceding the date we deliver our put notice to Calm Seas, or (B) $100,000. We will automatically withdraw our put notice to Calm Seas if the lowest closing bid price used to determine the purchase price of the put shares is not at least equal to seventy-five percent (75%) of the average closing "bid" price for our Class A common stock for the ten (10) trading days prior to the date we deliver our put notice to Calm Seas.
On the seventh business day after we deliver our put notice to it, Calm Seas will purchase the number of shares set forth in the put notice at the dollar value set forth in the put notice by delivering such amount to us by wire transfer.
Notwithstanding the $100,000 ceiling for each monthly put, as described above, we may at any time request Calm Seas to purchase shares in excess of such ceiling, either as a part of a monthly put or as an additional put(s) during such month. If Calm Seas, in its sole discretion, accepts such request to purchase additional shares, then we may include the put for additional shares in our monthly put request or submit an additional put for such additional shares in accordance with the procedure set forth above.
--------------------------------------------------------------------------------
On October 28, 2011, the Company entered into a license agreement with the University of Notre Dame. Under the agreement, the Company received exclusive and non-exclusive rights to certain spider silk technologies including commercial rights with the right to sublicense such intellectual property.
Plan of Operations
During the next twelve months, we expect to take the following steps in connection with the further development of our business and the implementation of our plan of operations:
? We expect to spend approximately $35,000 per quarter through March 2014 on collaborative research and development of high strength polymers at the University of Notre Dame. If our financing will allow, management will give strong consideration to accelerating the pace of spending on research and development within the University of Notre Dame's laboratories.
? We expect to spend approximately $13,700 on collaborative research and development of high strength polymers and spider silk protein at the University of Wyoming over the next twelve months. This level of research spending at the university is also a requirement of our licensing agreement with the university. If our financing will allow, management will give strong consideration to accelerating the pace of spending on research and development within the University of Wyoming's laboratories.
? We will actively consider pursuing collaborative research opportunities with other university laboratories in the area of high strength polymers. If our financing will allow, management will give strong consideration to increasing the depth of our research to include polymer production technologies that are closely related to our core research
? We will consider buying an established revenue producing company in a compatible business, in order to broaden our financial base and facilitate the commercialization of our products. We expect to use a combination of stock and cash for any such purchase.
? We will also actively consider pursuing collaborative research opportunities with both private and university laboratories in areas of research which overlap the company's existing research and development. One such potential area for collaborative research which the company is considering is protein expression platforms. If our financing will allow, management will give strong consideration to increasing the breadth of our research to include protein expression platform technologies.
? We plan to actively pursue collaborative research and product testing, opportunities with companies in the biotechnology, materials, textile and other industries.
? We plan to actively pursue collaborative commercialization, marketing and manufacturing ? opportunities with companies in the textile and material sectors for the fibers we developed and for any new polymers that we create in 2013.
We plan to actively pursue the development of commercial scal production of our recombinante materials including Monster SilkTM.
Limited Operating History
We have not previously demonstrated that we will be able to expand our business through an increased investment in our research and development efforts. We cannot guarantee that the research and development efforts described in this filing will be successful. Our business is subject to risks inherent in growing an enterprise, including limited capital resources, risks inherent in the research and development process and possible rejection of our products in development.
--------------------------------------------------------------------------------
If financing is not available on satisfactory terms, we may be unable to continue expanding our operations. Equity financing will result in a dilution to existing shareholders.
Results of Operations for the Years ended December 31, 2011 and 2010.
Revenue for the twelve months ended December 31, 2012 was $0. This compares to $0 in revenue for the for the twelve month period which ended December 31, 2011.
Operating expenses for the twelve months ended December 31, 2012 were $ 1,560,406. This compares to $1,297,410 in expenses during the twelve month period which ended December 31, 2011. Research and development expenses for the twelve months ended December 31, 2012 were $465,293. This compares to $250,598 spent on research and development during the twelve months ended December 31, 2011. The increase in research and development spending was the result of the reimbursement nature of our collaborative research agreement with the University of Notre Dame. In addition, we had the following expenses during the twelve month period which ended December 31, 2012: general and administrative $379,326, professional fees $48,667, officer's salary $267,120 and public relations $400,000. This compares to the same expenses during the twelve month period which ended December 31, 2011: general and administrative $786,909, professional fees $49,903, officer's salary $210,000 and public relations $0.
Capital Resources and Liquidity
As of December 31, 2012 we had $53,782 in cash compared to $195,409 as of December 31, 2011.
We believe we can not satisfy our cash requirements for the next twelve months with our current cash. Completion of our plan of operation is subject to attaining adequate financing. We cannot assure investors that adequate financing will be available. In the absence of such financing, we may be unable to proceed with our plan of operations.
We anticipate that our operational, and general & administrative expenses for the next 12 months will total approximately $1,200,000. We do not anticipate the purchase or sale of any significant equipment. We also do not expect any significant additions to the number of employees. The foregoing represents our best estimate of our cash needs based on current planning and business conditions. The exact allocation, purposes and timing of any monies raised in subsequent private financings may vary significantly depending upon the exact amount of funds raised and our progress with the execution of our business plan.
In the event we are not successful in obtaining financing, we may not be able to proceed with our business plan for the commercialization of our products and further research and development of new products. We anticipate that we will incur operating losses in the foreseeable future. Therefore, our auditors have raised substantial doubt about our ability to continue as a going concern.
On March 23, 2009, the Company's Board of Directors declared a nine-for-one stock split to be effected in the form of a stock dividend. The stock dividend was distributed to shareholders of record on April 27, 2009. A total of 449,773,650 shares of common stock were issued. All basic and diluted loss per share and average shares outstanding information has been adjusted to reflect the aforementioned stock dividend.
--------------------------------------------------------------------------------
Critical Accounting Policies
Our financial statements and related public financial information are based on the application of accounting principles generally accepted in the United States ("GAAP"). GAAP requires the use of estimates; assumptions, judgments and subjective interpretations of accounting principles that have an impact on the assets, liabilities, and revenue and expense amounts reported. These estimates can also affect supplemental information contained in our external disclosures including information regarding contingencies, risk and financial condition. We believe our use of estimates and underlying accounting assumptions adhere to GAAP and are consistently and conservatively applied. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different assumptions or conditions. We continue to monitor significant estimates made during the preparation of our financial statements.
Our significant accounting policies are summarized in Note 1 of our financial statements. While all these significant accounting policies impact its financial condition and results of operations, we view certain of these policies as critical. Policies determined to be critical are those policies that have the most significant impact on our financial statements and require management to use a greater degree of judgment and estimates. Actual results may differ from those estimates. Our management believes that given current facts and circumstances, it is unlikely that applying any other reasonable judgments or estimate methodologies would cause effect on our results of operations, financial position or liquidity for the periods presented in this report.
Recent Accounting Pronouncements
In October 2009, the Financial Accounting Standards Board ("FASB") issued an Accounting Standard Update ("ASU") No. 2009-13, which addresses the accounting for multiple-deliverable arrangements to enable vendors to account for products or services separately rather than as a combined unit and modifies the manner in which the transaction consideration is allocated across the separately identified deliverables. The ASU significantly expands the disclosure requirements for multiple-deliverable revenue arrangements. The ASU will be effective for the first annual reporting period beginning on or after June 15, 2010, and may be applied retrospectively for all periods presented or prospectively to arrangements entered into or materially modified after the adoption date. Early adoption is permitted, provided that the guidance is retroactively applied to the beginning of the year of adoption. The Company does not expect the adoption of ASU No. 2009-13 to have any effect on its financial statements upon its required adoption on January 1, 2011.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements, financings, or other relationships with unconsolidated entities or other persons, also known as "special purpose entities" (SPEs).
RIGHT ON! EC
Today is a good day for all of us who have been "relatively" good boys and girls to give ourselves a little gift that will keep on giving. BUY, BUY, BUY!!!!!!!!
I agree.
Mike, Could this be a way for Kim to retire a significant number of shares thereby increasing the value of all remaining shares and continue to retain control of the company?
Nice to see you are in saint. The future looks bright!
There is a lot of information here: http://www.google.com/patents/EP2621957A2
I agree see post #65164
At least the shares sold today are now in stronger hands. At least.
Interesting photo? Mulberry leaves? Some sort of silk on them? Any ideas?
The sky is the limit. Future KBLB products may go a long way. Litterially http://www.nature.com/srep/2013/131205/srep03428/full/srep03428.html
Word is getting out in the biotech world. http://www.biospace.com/News/kraig-biocraft-laboratories-inc-delivers-first/318055
Well said jetow. I agree on all points.
Competition like this right? LOL http://chemistscorner.com/spider-silk-in-your-skin-lotion/
Spider Silk in Your Skin Lotion?
by Perry Romanowski on 12/05/2013
I had a spider that was living on my front porch this fall. She was a cool creature and made some excellent webs. I’ve always been a fan of spiders and also a fan of our efforts to create spider silk without the spiders. Well, one cosmetic raw material company wants you to believe that they’ve done just that. spider silk protein
What do you get when a scientist who figures out a cool way to make the building block proteins of spider silk teams up with a marketing consultant?
Spidersilk by AMSilk
According to this report, AMSilk has just announced that they are now able to supply the cosmetic industry with a novel protein that “is similar” to spider silk protein.
Marketing Spin
You might be wondering what’s the big deal? There have been lots of silk proteins available to cosmetic chemists for a long time. Why is Spidersilk different?
The company says that Spidersilk is not like those other silk proteins that are hydrolyzed and have lost all their “silky” benefit. Spidersilk is the first “truly functional silk formulation…”
What exactly does that mean?
In the press release, they say a bunch of generic things like the ingredient will “add smoothness and moisture management” or that it “leaves a silky feeling.”
I don’t know. I just don’t get it. What exactly is this functionality that they are talking about? If you want to add smoothness or moisturize you use petrolatum in your lotion. If you want a silky feeling, you would use a silicone. Why would anyone use this ingredient?
Formulating reality
The reality is that if you want to create a finished cosmetic product that has the functionality described and but you want a silk story, you could simply create a standard lotion, add a drop of standard silk protein, and it will sell just as well. No spidersilk technology required.
When will raw material companies start coming up with ingredients that actually do have some new functionality?
We cosmetic chemists are still waiting.
Note: no spiders are harmed in the making of Spidersilk protein.
Yep:
transgenic silkworm/spider silk production
systems have been developed to produce tough fibres. It is
possible to mix and match key modules via recombinant
approaches, providing additional insights into the role of
individual modules and effects of neighbouring elements
on properties. This approach should lead to the development
of custom structures built from specific silk elements.
Future challenges will include development of tailor-made
production systems for recombinant silks keeping in mind
differences in chemical and physical properties of individual
silk modules, scaling up silk production, prevention of
the formation of aggregates and matches to the mechanical
properties of silk fibres.
Bob, I imagine that the qualities are very different except for a possible similarity in color. This article describes a silkworm silk that is pink as a result of dyed food. BR's recombinant spider/silkworm silk color is probably a result of a genetic marker. I don't think this will have any influence of Big Red being accepted as a viable fiber. It will stand on it's own merits.
I think Joe was right on just about everything except his timetable. We will get there eventually and those of us who have been slowly accumulating shares will be glad we had more time to do so IN THE LONG RUN.
I wish him a speedy recovery and I think KBLB's products will be part of many medical devices in the future.
Synchronistic?
I bet they would love to get their hands on MS or BR.