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Yes, I was a newbie at one point (like everyone else here) and I was trying to learn about the company and what they did. I didn't post much at first. Instead I read every post trying to learn. Unfortunately, there is mostly one viewpoint that is supported on this board, and that is what I was able to read. But after a while I started to see opposing viewpoints (and they made some sense). After a few months, I started to see a pattern with the company (that they over-promise and under-deliver). I started to get worried, but stuck with the company for about 6 months.
The company hasn't changed at all since then. They still over-promise and under-deliver. They still haven't delivered the shootpacks. They are going to be late on the delivery of custom spidersilk. Yes, they got a business license in Vietnam, but almost anybody could do that. You pay Vietnam some money, and you get a license. Big deal. They still don't have a "working" facility there. And they definitely aren't producing anything there yet. They don't have employees there (besides Mr. Le who isn't even a true employee). They don't have worms or eggs there yet. In other words, it is a shell corporation at this time.
<< It’s the same as the Military. They don’t extend a contract and give you $1Million extra if you don’t complete the first thing they requested. >>
But that is exactly what happened. The military approved the optional / 2nd phase of the contract, even though the deliverable (the sample shootpacks) for the base contract was never delivered.
<< who goes out of their way to create a username dedicated to a stock they believe is gunna collapse and posts hundreds of posts >>
When I created the username (last year), I was a KBLB believer also. I believed in the hype and the hope that KBLB sold. But that was before I did extensive DD. I now realize that KBLB only sells hopes and dreams. Many people talk about how great the tech is, but they fail to separate the tech from the company. The tech is great, and one day a company will deliver on it. But I don't believe that company will be KBLB. I continue to follow the board just in case I am wrong.
The most basic question that people need to ask is "After 10 years, why hasn't KBLB been able to produce one product?" And when I say "produce", I don't mean a few threads, or one glove. I am talking about producing in quantity. The answer is simple - THEY CAN'T. But they will never tell you that.
After 10 years, they only have one customer - the Army. And they only had 2 deliverables for the Army: sample shootpacks and 100 kgs of custom spidersilk.
The 1st deliverable was sample shootpacks and was due Apr 2017. After 2 years, they still haven't delivered that yet. Why is that? Why can't they deliver a sample product that is only about 4" x 4"? If they can produce product (as many on this board say), then they should have been able to slap that sample together in no time.
The 2nd deliverable is 100 kgs of custom spidersilk and is due within the next month. KBLB had about 12 months to deliver. Yet once again, they weren't able to do it. They are now asking for an extension to the deadline. Why is that?
After 10 years, they have only had to make 2 deliveries to the ONLY customer that they have ever had. And they failed on both accounts. Why is that?
<< He does not believe what he is dishing out. >>
That is a ridiculous statement. Of course I believe what I am saying.
<< According to this word salad PR we are in production.... >>
No, KBLB is NOT in production in Vietnam. You can say it as much as you like, but it still doesn't make it true. KBLB doesn't even have eggs or worms in Vietnam yet.
And what the heck is a "word salad PR"? LOL
Sorry, but I'm not sure I understand your question.
It says that the request for the Dec 2018 extension is for the custom spidersilk (the 2nd deliverable) and not for the shootpacks (the 1st deliverable).
The shootpacks were originally due to the Army in Apr 2017. They missed the deadline and then the date was extended to Dec 2017. I don't know of any other extensions that was ever requested or provided for the shootpacks past that date. So the shootpacks are extremely overdue.
jose0505, great post. You are absolutely correct. The key are the words "contract option".
"The Company has requested an extension of this contract option period through December 2018."
Also, notice that KBLB has "requested" an extension. There is always the possibility that the Army will not grant the extension. Then they will be really screwed.
Since this board loves facts, here is an interesting one:
KBLB was down over 8% today.
Go KBLB!
Once again, there is nothing in that statement that is incorrect.
They still haven't received the entire $1 million from the Army yet. That is because they haven't delivered anything. After 2 years, they have only received a few $100K.
And I am pretty sure that the Army is done with them.
Keep trying though. I am sure that you might find one thing that I got wrong out of the 100s of things that I have posted. LOL.
The contract would have to be specific and have specs (stiffness, strength, elasticity, etc) for the new fiber that KBLB would have to create.
And the 921K wasn't just for a few threads of new fiber. It was for 100 kgs of that fiber. That would make the fiber worth about $4200 / lb.
<< IF the ARMY recently asked for additional properties and it was coming extremely close to the deadline, it would be reasonable to ask for an extension, to satisfy the military request. >>
Once again, the Army can't just change the contract. If that were the case, then KBLB would never be able to complete the contract (because the Army would keep tweaking the contract ad infinitum). I know this because I have worked on many military contracts. The contract is there to protect both parties. The Army can't make tweaks without rewriting the contract or modifying the original contract. If either of those things happened, then we would hear about it (through both a PR and the Army contracts database).
If KBLB is asking for an extension, then it is because they can't make the delivery on time. This has happened with KBLB and the Army MANY times over the past two years. I don't understand why this is such a hard thing to swallow and why people have to come up with all sorts of other reasons to try and explain this away. Just accept the facts for what they are.
I think you are misunderstanding.
The "optional phase" was for custom spidersilk and was a 12-month contract (which was supposed to end within the next month or so). There was a statement in the latest 10Q that said that KBLB was asking for an extension to Dec 2018. Jetow seemed to be implying that they were asking for an extension because the Army asked for (another) tweak. I stated that if the Army asked for (another) tweak, then they would need to either write up a new contract or amend the old contract (and that hasn't been done). So the reason that they are asking for an extension is (obviously) because they can't deliver in time (once again), and has nothing to do with the Army asking for new tweaks.
Nothing you included shows that my statement was incorrect.
The "second phase" was already built into the original contract. It was an "optional phase". They didn't change the original contract one bit.
You can see that even KBLB called it a contract "option":
<< Then they delivered knitted silk. >>
Sorry, but I don't believe that is correct. Knitted or weaved fabric was not a deliverable.
If you believe this to be true, please show me the evidence...
<< They also delivered all the woven thread. >>
No, that is incorrect. That wasn't a deliverable and they haven't delivered that to the Army. The woven fiber supposedly went to a company that can create shootpacks. If that ever gets done, then they will deliver the shootpacks to the Army.
<< I’m feel certain I remember some material already being delivered. >>
The only thing that KBLB has ever delivered to the Army (so far) has been a few threads of spidersilk.
<< They must have asked for a tweak. >>
If the Army asked for a "tweak", then there would need to be another contract or contract extension.
I would have thought that you would have wanted KBLB to make delivery to the Army on time. After all, the Army is their ONLY customer. And KBLB doesn't make much money if they don't make delivery. In addition, it doesn't speak well for a company to over-promise and under-deliver (which is exactly what KBLB has done for 10 years).
<< ...that was 2017. >>
Sorry, but that is totally incorrect.
The following statement was in the 10Q for 2Q 2018 (released last Friday):
Great post sickzone!
<< Kbl has once again failed to meet a deadline with the army contract.
The Company has requested an extension of this contract option period through December 2018. >>
So it makes you wonder, why would KBLB need a contract extension? They already had 12 months to create custom spidersilk for the Army. The Army contract requires 100 kgs (or about 220 lbs) of custom spidersilk. Could it be that they just can't produce in quantity? Or could it be that they haven't created ANY custom spidersilk that matches the Army specs yet?
And do you really think that another 3 months will matter? I don't.
<< I am amazed everyone here has just let this slide by. >>
I'm not.
<< Each day that passes with no news is one day closer to the beginning of a successful journey. >>
Each day that passes with no news is one day closer to bankruptcy.
That photo is from many years ago.
Market Views Latest KBLB 10Q as a Bust
KBLB 10Q came out Friday after hours.
Today, there were only 1.5 million shares traded, and over 1 million shares were sells.
On top of that, the share price dropped 4%.
The market has voted and shown that they have NO confidence in KBLB or their CEO.
<< KBLB can only say so much regarding the shoot packs... >>
That's because they haven't even made them yet! LOL They had 2 years to make a few sample shootpacks and they still don't have them. What a joke this company is. They can't even create a few samples to show their ONE customer.
<< Why can't they do it in large quantities if they can do it in small? >>
Because we aren't even sure that they can produce small quantities consistently. How do we know that they don't have to create 1000 spools of thread, and then throw out 990 of them to keep the 10 spools that are good?
It took KBLB about 18 months to create enough thread for a sample shootpack (which is only about 4" x 4"). To me, that is a HUGE red flag and shows that they can't produce large quantities for some reason.
<< Biting the hand that feeds you is not smart! >>
KBLB isn't feeding anybody but themselves. This stock has gone absolutely nowhere in 8 years. They were at 6 cents in 2010 (8 years ago) and are at that same price today.
<< Ben explained that wherever Jon was, he had sporadic service.... >>
Or it could have been a cruise...
Once again, KBLB was down for most of the day, and in the last few minutes someone bought a few hundred shares (about $50 worth) and pumped the stock back up.
Whoever is doing that - great job! I admire your tenacity and boldness.
<< Many were shocked that KBLB has begun business in Vietnam, shocked that the company CAN mass produce, shocked that the Army continues to stand by the company, and shocked that they have a company in Vietnam called Prodigy Textiles. >>
So far, they haven't done any business in Vietnam (or any where else in the world), they haven't produced anything yet (besides a few rolls of thread and "supposedly" a roll of silk, although that claim is quite suspect since there isn't any proof yet), the Army isn't standing by them at all (and after 2 years they are still waiting for the sample shootpacks).
Show us proof of the supposed business that they are doing. Show us proof that they have sales. Show us proof that they have financing. YOU CAN'T. All you can do is make baseless claims and say "Go KBLB" (as if that will do anything).
Here I'll show you...
Go KBLB!
Did it do anything? NO
LOL
<< Remember, what you truly want and wish to happen may not actually occur in REALITY..... >>
Says the pot to the kettle.
Less than $20K traded today. How sad...
Sorry, but as many have said on this board, the "word" of KBLB execs is worthless. They have made statements time and time again over the last 10 years, and have delivered on almost none of them.
<< The local farming cooperatives have the existing capacity to meet Prodigy’s mulberry needs over the coming months. >>
As usual, this board doesn't answer a simple question. Instead, let's talk about something else.
The photo provided with the PR shows the field that will provide KBLB with mulberry. The field looks empty except for some sticks coming out of the ground (which we can assume is the mulberry). The sign on the field even says that this is the mulberry field for KBLB. So how long will it take for that mulberry to reach maturity?
The quote that you provide says basically nothing. It says that they can provide for "Prodigy’s mulberry needs over the coming months". So let's examine that statement. How many months are included in "the coming months"? Could be two months (since it is plural) or it could be years. That is the beauty of the way that Kim writes his PRs. You never know exactly what he is saying. Let's assume 2 or 3 months for fun. So what will be Prodigy’s mulberry needs over the 2-3 months. Most probably nothing! They still don't have eggs in Vietnam yet. Once the eggs arrive, they will need to be quarantined for a while. After that, they will have to hatch and grow to worms. It will take at least a month before the worms cocoon. So Prodigy doesn't have any mulberry needs for the next few months. Can the farmers handle that. Well, of course they can. LOL.
No matter how you look at the situation, it will be months before worms are cocooning. And that is a best case scenario.
The photo in the latest PR shows an empty "mulberry" field with what looks cuttings or pruned trees sticking out of the ground:
https://www.kraiglabs.com/wp-content/uploads/Prodigy-Textile-Mulberry-Fields.jpeg
How long will it take for those to grow to maturity (until the leaves can be harvested)?
I would guess at least a few months. If that is true, then KBLB will not be able to ship eggs for at least a few months.
<< So I'm a little confused .... As usual. If we are not making any $$ from this mulberry why are they PRing this. It's like me buying a house in a new development and the house next door started building. Who cares? It's not my house. >>
Exactly!
It is called "sleight of hand". Wave one hand around (so everyone looks at it), while the other hand is stealing your wallet. LOL.
The market obviously wasn't fooled by today's worthless PR.
Also, notice that there has been absolutely no mention of the 220 lbs. of custom spider silk that is supposed to be delivered to the Army within the next month. As usual, KBLB will most likely be late. I wonder what the excuse will be this time?
The Army is their ONLY customer, yet they can't seem to even make one delivery to them. The shoot packs are now about 2 years late. 2 YEARS! I can't see how anyone could even think that the Army would want to do business with KBLB after the past two years.
Well, IMHO, this company will be bankrupt within the next year or so. The only income they have had in the last 10 years, is around $250K from the Army contract. They have absolutely no current income, and there is none in sight. There are no current deals with anyone (Army, Nike, Under Armor, medical institutions, etc), nor any on the horizon. They have no financing, and nothing in sight. The CEO pays himself over $300K a year and gives himself a raise year after year. The company spends millions of dollars a year. Follow the money (or lack thereof)...
Oh yeah, I forgot...
Go KBLB!
All you have to do is read the last few PRs. They state that there are no worms, eggs, employees, or equipment yet.
No, KBLB is really NOT in Vietnam (besides one employee that was there for a photo op).
They don't have worms or eggs there. They don't have any permanent employees there. They haven't finished setting up equipment at the facility.
There is basically an empty facility waiting for eggs, worms, equipment, and employees. I would be surprised if all of that stuff is there before the end of the year (or by the time they go bankrupt).
NEW PR: Arrayit Corporation Signs Allergy Testing Contracts with a Nationwide Consortium of Medical Clinics
Sunnyvale, July 30, 2018 (GLOBE NEWSWIRE) -- July 30, 2018 - Sunnyvale, CA – Arrayit Corporation (OTC: ARYC), a life sciences and personalized medicine company, signs allergy testing contracts with a consortium of medical clinics nationwide. The network comprises 178 medical clinics in 29 of the 48 contiguous United States including the Northeast, Southeast, Midwest, South, Southwest, Pacific and Pacific Northwest regions, with single clinics staffing up to 70 physicians. The clinics are using Arrayit allergy testing services to assist physicians in diagnosing and treating allergy and asthma across a wide range of medical specialties and focus areas including anti-aging, back pain and sciatica, chiropractic care, dermatology, digestive health, ear nose and throat (ENT), family medicine, gastroenterology, health and beauty, immunology, integrative medicine, internal medicine, obesity, obstetrics and gynecology (OB-GYN), pain relief, pediatrics, personalized medicine, preventative medicine, primary care, rehabilitation, sinus, spinal care, urgent care, weight loss, wellness and women’s health.
Arrayit recently established a nationwide sales network of 1,700 sales professionals to sell and distribute the company’s finger stick microarray tests to medical clinics and retail chains, completed allergy pilot testing with one the nation’s largest chains of retail stores, met with top officials at the United States Food and Drug Administration (FDA) to discuss FDA approval of a major product line, and reported the sale of clinical instrumentation to the FDA. Arrayit microarray tests conveniently use a few drops of patient blood collected on a blood card to assist doctors in identifying and treating food intolerance, allergy and asthma, and pipeline indications for more serious conditions such as ovarian cancer and Parkinson’s Disease. Doctors can use allergy test results as quantitative tools to inform decisions regarding allergy medicines, immunotherapy, food elimination and lifestyle changes.
Arrayit CEO Rene Schena states, “We are pleased to announce allergy testing contracts with a medical clinics consortium comprising a remarkable breadth and depth of medical specialties and focus areas. Arrayit’s accurate and non-invasive allergy testing services can provide a healthcare cornerstone by empowering physicians to better treat and manage allergy and asthma and mitigate the acute and chronic consequences of these conditions.”
About Arrayit
Arrayit Corporation, headquartered in Sunnyvale, California, leads and empowers the research, biotechnology, pharmaceutical, clinical and healthcare sectors through the discovery, development and manufacture of proprietary life science and personalized medicine products and services to advance biomedical research and improve wellness and human health. Please visit www.arrayit.com for more information.
Safe Harbor Statement
We have identified forward-looking statements by using words such as "expect", "believe", and "should". Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's public filings.
NEW TWEET: Arrayit Corporation Signs Allergy Testing Contracts with a Nationwide Consortium of Medical Clinics
Arrayit Corporation Signs Allergy Testing Contracts with a Nationwide Consortium of Medical Clinics https://t.co/EZTp9eaMdv
— Arrayit Corporation (@arrayit) July 30, 2018