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Thanks, but I am pretty sure that this forum had posted the news many days before that (from an email from Mark). For example, here is a post from 29 Sep:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143859722
Can anyone provide the URL for the post which first mentioned the "quiet period"?
I don't have a subscription to iHub (so I can't search the forum) and I have been trying to search via Google but haven't found it yet.
Let's see how long it takes to make 220 lbs of DS 2.0.
Any predictions?
Mine is 2020.
Another useless forward-looking PR.
No news on the shipment of the eggs. No news on the paperwork. No news on whether DS 2.0 was created genetically or through selective breeding.
Vietnam is sitting idle (for over 6 months - since April) and will continue to sit idle for many more months (especially with Thanksgiving, Christmas, & Tet just around the corner).
It contains more nebulous statements of how great the future will be.
Yet Kim continues to raise his salary every year. LOL.
If you took a look at the link that was posted, you will see that the date on the float shows 04/15/2015. Hence, it hasn't been updated.
<< The Company did receive over a million dollars from the Army... >>
Show me where that money is in the financials...
YOU CAN'T.
Why? Because they didn't receive it.
The contract only pays out when the Army receives deliverables.
In all of 2017 they only received $97K from the Army contract (out of a total of $1 million):
"For the years ended December 31, 2017 and 2016, the Company recognized $97,318 and $31,858 respectively in revenue from the Government contract."
"Revenue is recognized on cost-plus-fixed-fee contracts with the U.S. Government on the basis of partial performance equal to costs incurred plus an estimate of applicable fees earned as the Company becomes contractually entitled to reimbursement of costs and the applicable fees."
So far, in 2018, they have received another $260K:
"For the six months ended June 30, 2018 and 2017, the Company recognized $260,859 and $0 respectively in revenue from the Government contract. These revenues were generated for work performed in the development and production of the Company’s recombinant silks under the base and option period phases of our ongoing contract with the US Army."
That don't add up to a $million...
They still have a long way to go...
Maybe in 2019 or 2020 or ...
That was just a notice that the Army made the money available. If you would check their financials, you will see that they haven't received the majority of that money yet.
They won't receive most of that money (for the 2nd deliverable) until it is delivered. That ain't gonna happen for a LONG time.
Revenue? LOL
The only revenue that this company has received over the past 10 years is a little over $100K from the Army (for the 1st deliverable of shootpack panels).
They can barely produce samples to give to the Army (their only client). Forget about actually producing anything.
<< The initial contract was to.....create... design...customize....establish.... a fibre that the army wants to use. >>
That is incorrect. The initial contract was for the shootpacks. It was originally due Apr 2017. KBLB signed the contract and agreed to the timeline. But they didn't make the delivery in time. The Army graciously extended the contract until Dec 2017. But KBLB was late AGAIN. They finally delivered on 20 Aug 2018. It wasn't a week or a month or a quarter late. It was 16 months late!
The 2nd delivery is for the customized spidersilk. Once again, KBLB signed the contract and agreed to the timeline. It was due Aug 2018. They had a year to produce 220 lbs of the fiber. They were late AGAIN. They asked for an extension until the end of the year. We have no idea if the Army granted the extension. They just announced on 30 Oct that they finally chose the custom fiber (DS 2.0) to deliver to the Army. So they finally were able to choose the fiber that they are going to use 2 months AFTER the delivery was due.
One of the main issues is that KBLB gives everybody the idea that they can do these things immediately, but they know that they can't. In other words, they are lying to everyone. They said that they could deliver the shootpacks within 9 months, but they didn't. It took them over 2 years. They said that they could deliver 220 lbs of custom spidersilk in a year, but they didn't. KBLB stalls and stalls, hoping that they can figure it all out in time for the delivery. But they don't even do that. Then they stall and stall some more. Let's see how long it takes for them to deliver DS 2.0. And let's see how many excuses they come up with this time...
And how do you know that the Army hasn't "gone long ago". I haven't seen anything in the last two years that shows that the Army is still dealing with KBLB at all. There have been no meetings, no talks, no contracts. Nothing at all.
The Army has accepted delivery of a product (the shootpack panels) that they paid for over 2 years ago, but that doesn't show a current relationship.
Not sure what you are looking at, but KBLB has dropped DRAMATICALLY over the past few weeks. The stock price is down about 1/3 (33%). And it is still dropping today. It is down 10% as I write this. The rout isn't over.
And why would anyone want to give a company a contract when they take years to make a delivery? Imagine ordering something for $100K and giving them a year to deliver. But they don't make the delivery on time. You would be calling them up every day trying to find out what is going on. First they give you one excuse, and then a second, and then a third, ad infinitum. Now imagine that it took another year to make the delivery. Would you do business with them again? The answer is DEFINITELY NOT.
In addition, as someone just pointed out, they still owe the 2nd part of the contract. And they are late on that as well! And they just announced that it will be months before they can deliver. My bet is that it won't be delivered until at least 2019 and probably 2020. After all, it took them over 2 years to deliver a few ounces of product. Now they have to deliver about 220 lbs. of product.
<< The Army could releases a supply contract soon. >>
That is bovine manure!
The Army is sick and tired of dealing with KBLB. They can't deliver anything on time and they have problems with producing a consistent product. It took them over 2 years to make a few sample swatches to send to the Army for their 1st delivery. Now they are months late on their 2nd delivery and they owe the Army about 220 lbs. of custom spidersilk. It will probably take them years to get that produced (if ever).
Thanks, I found the following in doc #77 (the Amended Complaint) of the court case (dated 7 Mar 2016):
"Arrayit agreed to contribute on November 14, 2014 (the “Closing Date”) all assets relating to the Food Safety Testing Products to Array Molecular Corp. (“AM”), except for certain patents which were to be licensed to AM (the “Assets”). AM is a company organized and incorporated under the laws of the State of Delaware which is 76% owned by Zalcberg or entities controlled by him."
I believe that statement is from Taub, so I'm sure that ARYC has a different take on the events.
Do you have any idea where the USDA / ARYC product stands? Is it awaiting approval from some agency (FDA, USDA, etc)?
<< Ignorance is in not knowing that they got DS 2.0 from microinjections. >>
There is nothing in the PR that says anything about microinjections. You are trying to add information that just isn't there. The PR states "select breeding", which has nothing to do with microinjections.
In addition, KBLB has stated that DS 2.0 is a domestic product (which makes sense since the product is for the U.S. Army):
"Over the next several months Kraig Labs plans to scale up the production of this new recombinant spider silk fiber at the Company’s domestic facility, in order to fulfil the second phase deliverables to the Army."
(https://www.kraiglabs.com/kraig-biocraft-laboratories-selects-new-high-performance-recombinant-spider-silk-for-delivery-to-us-army/)
KBLB has also stated that the worms from microinjections are slated for Vietnam:
"The transgenics created using the new protocols are expected to be transitioned into Prodigy Textiles’, the Company’s recently announced Vietnamese subsidiary, commercial production process."
So according to KBLB, DS 2.0 & microinjections are two totally separate things.
Thanks for sharing your DD. It is much appreciated.
That is a great catch!
Sounds like the latter to me.
KBLB is now down 18% on 340K shares. Is that still manipulation?
I guess that it is only manipulation if the stock price goes down...
Why don't you just buy another million shares! That will surely pop the price up (at least a little). :)
As usual, you are getting the cart way out in front of the horse. You are projecting a pink-sky, rosy outcome from a forward-looking PR.
The facts are that KBLB was almost 2 years late on their 1st deliverable to the Army (the shootpack panels), and they are now late (once again) on their 2nd deliverable to the Army. You can't actually think that the Army looks favorable on that! We don't know how late the 2nd deliverable will be, but they are already about 2-3 months late as of today. But given that it took them about 2 years to produce a handful of small sample shootpack panels and they now have to produce about 220 lbs. of custom spidersilk, we can assume that they are many, many months from the actual delivery.
By the time they deliver the product (if ever), many of their direct competitors will have caught up to them and possibly even surpassed them. And many of their indirect competitors will have gained ground as well. Do you really think that DuPont is sitting on the sidelines waiting to be replaced? There are all sorts of technologies out there trying to replace Kevlar. One material that is very promising is composite metal foam (CMF) that is extremely light weight and destroys bullets on impact.
If someone tried to tell a financial institution that KBLB has a product because they created a few samples, they would laugh at them. A financial institution wants to see sales figures, signed contracts, collateral, etc. They are bean counters. They aren't a charity to help KBLB out of a tough situation. They want to make sure that they will get their money back if things don't go as planned. Kim can't provide that. Basically, KBLB is flat broke and in debt. Kim even owes his employees money.
The only way that Kim can finance the company at this point is to either sell his own shares, or create more shares of KBLB (aka dilution). Since Kim is a greedy pig, he won't be selling his own shares.
If someone was covering a 6 million share short, then the price would have gone up dramatically (and not down), since they would have had to purchase 6 million shares to cover. So your theory makes no sense.
After two days (Friday and Monday) of a huge sellof (down about 30%), it was another day of selling, as there were about 1 millions sells and only 600,000 buys.
So sad...
Just because someone can cook a burger doesn't mean they can now open up a fast food franchise. Mass production is a major part of having an actual product. Making a sample isn't a product. Everything that this company has produced over the past 10+ years has been samples. A sample glove, and sample shootpack panels. So they don't have a product yet. A financial institution is never going to lend them millions of dollars based on a few samples that were produced over the last 10+ years.
The Army has only had to pay on the 1st deliverable (the shootpack panels), and that was only worth about $100K. If KBLB ever makes the 2nd delivery (for the 100 kgs of custom spidersilk), and it meets the requirements, then they will pay the remainder. So they don't have sales yet. A financial institution is not going to lend them millions of dollars based on $100K of "sales" over a few years.
<< the fact is it hasn't been done and kim has shown no inclination to obtain financing.. >>
We don't know that. It is very possible that Kim has been trying to get financing over the last year, and can't. Kim would never announce that he was turned down. He would only announce if he got the financing.
Who would want to loan them money? They don't have a product, they don't have any sales, they don't have any revenue, they owe millions of dollars, and they don't have collateral of any sort.
In a recent PR dated 9 Oct, KBLB stated:
"The Company expects to have all of the required documentation for this shipment completed within the next two to three weeks and expects to be raising its silkworms in Vietnam in the fourth quarter."
Today is officially 3 weeks. Once again, a forward-looking statement that is not completed on time.
My guess is that it will be early next year (after the Tet holiday is over) before the eggs ship.
<< the fact is the sp was .053 before it dropped 20% yesterday and it’s right back up there >>
The fact is that the SP was at .06 on Friday morning. There was a big selloff on Friday that dropped the price to 5 cents, and then another big selloff yesterday that dropped the price to 4 cents.
The stock is currently struggling to stay in positive territory even though it has lost about 30% of its value over the last few days. That isn't good news no matter how you much makeup you put on it.
There was a HUGE selloff yesterday and then a PR this morning. That is too much of a coincidence for me. They must be related. Someone must have gotten the news early and decided to dump their shares.
I think that you need to update your username to dragon_silk_2_0
:)
We also learned that the Army hasn't tested the shootpack panels yet:
"Kraig Labs delivered shootpack panels to the Army, earlier this summer, made of its original Dragon Silk material and those panels are awaiting testing."
Another worthless, forward-looking PR...
They just admitted that they won't be able to make the 2nd delivery to the Army for months to come:
"Over the next several months Kraig Labs plans to scale up the production of this new recombinant spider silk fiber at the Company’s domestic facility, in order to fulfil the second phase deliverables to the Army."
"Several" means 3 or more. So they won't be making the delivery in 2018.
There was a HUGE amount of shares (5.84 million) traded today on a HUGE drop in the share price (-19.25%). Someone must have found out that something is rotten in Denmark.
<< Your message doesn’t make sense from the standpoint of ‘Kim cashing out’. Dilution creates more shares for $ for KBLB to invest to generate revenue $. >>
Yes, you are correct.
<< ...the pps may take off anyway based on the nature of the hope generated from what said funding will do... >>
If this is dilution, then either Kim is cashing out because he knows that the company is going under, or he is trying to keep his employees paid (so that they don't walk out) and keep the lights on.
From the latest 10Q:
"As of June 30, 2018, the Company owes $1,875,158 in accrued salary to principal stockholder, $23,417 to the Company’s COO, and $7,153 to its office employees."
<< She’s could take off hard soon$ >>
Keep telling yourself that...
Goodbye 5 cents...
<< It’s out there ready to explode if we were told the truth. >>
And therein lies the rub.
We know that Kim has lied at least once (when he said that they were ready for "sale and scale" (aka production) back in Dec 2015):
https://www.kraiglabs.com/kraig-biocraft-laboratories-announces-highlights-of-conference-call/
We also know that Kim paid companies to pump the stock price:
https://globenewswire.com/news-release/2018/06/06/1517383/0/en/Kraig-Biocraft-Laboratories-provides-a-statement-on-the-market-s-response-to-recent-Company-milestones-and-the-creation-of-its-Vietnamese-subsidiary.html
What don't we know about? I'm sure a LOT.
MikeCr: Thanks for sharing all of your DD. I really appreciate it.
<< Really fascinating how you always take the most negative possible outcomes... >>
And this is coming from someone that will NEVER blame Kim for anything and believes that he is the very best CEO in the world. That Kim deserves the $100s of $1000 of dollars a year, the millions of shares, the 2 special shares, and everything else that he receives. A person that puts the rosiest spin on all news, no matter how bad it is. A person that believes that we will receive a PR every week. A person that says he will never sell ANY of his shares, yet admitted that he has on this board this year. A person that believed (and possibly still believes) that there is a secret warehouse that holds tons of KBLB spidersilk. A person that said that Vietnam was the key and here we are many months later. I could go on and on, but I think you get the point...