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<< Kblb has the fibers with incredible properties... >>
Yes, the rumor mill seems to say so. The problem is that it hasn't been proven in the real world yet. After 10 years, KBLB still doesn't have ONE product. And after 2 years, they still haven't made either of their deliveries to the Army yet. So color me skeptical...
<< i find it curious that he can create fiber that surpasses the qualities of spider silk, yet he is going to make glue? >>
The glue industry is HUGE: Elmer's glue, Gorilla glue, Liquid Nails, Loctite, Titebond, etc.
The Adhesives & Sealants Industry is expected to be worth $67 billion in 2022. Even if they could earn 1/10 of 1%, that would be worth $6.7 million. Not a bad way to start off a company...
I'm sure if KBLB announced that they were going to start selling glue, shareholders would be ecstatic!
In addition, they also have a 30" drone that was created from their spidersilk. They are now looking to create a life-size drone.
Spidey Tek product: the Spidey Bat drone
<< The Spidey Tek Team is the only scientific group in the world with this technology... >>
At first, I laughed at that statement. But then I did some research and found that they indeed might have something EXTREMELY unique here.
It seems that they might have found the holy grail for creating spider silk. They are using microorganisms. The problem with microorganisms is that they haven't been able to create "long proteins" (until now). It seems that Spidey Tek has figured out a way to use microorganisms to create "long proteins".
TRUTH:
Thank you very much for that article.
<< Is KBLB in a Quiet Period? Self-imposed, or other otherwise? >>
NO
<< Or is there just no production or no production news? >>
YES
There seems to be a misconception that KBLB has received the entire $1.1 million from the Army. That is incorrect. They have only received around $129K so far.
Here is an explanation of how revenue is generated by the Army contract...
So far, KBLB has only received about $129K from the Army (out of a total of $1.1 million).
Those quotes are all from KBLB's latest 10K annual report.
If they don't deliver the shootpacks (which were due Apr 2017), then they won't receive (most of) the $100K for that delivery.
If they don't deliver the 100 kgs of "custom" fiber (which are due 24 Jul 2018), then they won't receive (most of) the $920K for that delivery.
KBLB has 7 employees (Kim, Jon + 5) (according to the most recent 2017 Annual Report / 10K)
"As of the date of this filing, we have 7 employees including Kim Thompson, our sole officer and director and Jonathan R. Rice, our Chief Operating Officer."
http://irdirect.net/filings/viewer/index/1413119/000165495418003028/
At the end of 2016, they had 5 employees (Kim, Jon + 3).
Why would they need to post a 10K for 2014? They already released a 10K for 2014.
WOW! Yet ANOTHER excuse! That is unbelievable. I need a scoresheet to keep track of all the excuses. LOL.
Fiber (for the shootpacks) was sent to the "alternative textile research facility" back in January. Yet here we are 3 months later and they still don't have shootpacks.
We are now coming up on 2 years from the award of the original contract with the Army and they still have NOTHING to show for it. How sad.
The most unbelievable part of this entire thing is that a shootpack is smaller than 4" x 4"!
How does anyone expect KBLB to create 100 kgs. of "custom" fiber within the next 3 months, when they can't even create a few ounces of fiber for a 4" x 4" sample swatch given 2 years (especially since the line of fiber used for the shootpacks was supposedly ready for "scale and sale" years ago)???
Since they are still working on creating the "custom" fiber, it looks like they are going to be late for their 2nd delivery as well (otherwise they should be cranking out reels of fiber by now).
That means that they will not be reaping the full benefits of the $900K payment anytime soon. It also means that the Army will probably NOT be extending their contract. Too bad.
That article is dated 2 Aug 2017 and is 8 months old. It has been discussed multiple times in the past. The reporter made a mistake. The shoot packs were never delivered. Instead, KBLB delivered some fiber to the Army. The Army tested the fiber and they liked it enough to go ahead with the contract extension. This has been verified multiple times by many different sources (including KBLB).
The 3Q 2017 newsletter from KBLB (which came out 31 Oct 2017 and 2 months after the article you posted) stated:
I'm not sure if you noticed, but that article is almost 2 years old.
Good luck to you as well
<< as you stated the consultant would have had to pay $15k to exercise the warrant..most people don't actually cough up the cash..it is taken out of the warrant..so the 348,837 shares taken out of the 15 mil total is the $15k he had to pay...thus only 14,651,162 were actually issued.. >>
Yes, that is basically what I said. Thanks for stating it so eloquently. :)
KBLB owed a "consultant" a very large amount of money (about $848K). How was he paid? Did the Army pay him, as some people are insinuating? NO. So then, how was he paid? The answer is that he was paid in KBLB stock. And that is how KBLB is paying for most things.
KBLB is continuing to dilute their stock (to the detriment of the share price).
If you ask me, dilution is a better solution than financing (at 10% or 20% interest per year). Of course, it would be much better if KBLB actually sold something and made some money.
You basically asked "how are the paying the bills"?
I showed you that KBLB is diluting the stock (to the detriment of the shareholders).
According to the 10K, 2017 net losses were $2,333,100 and dilution of shares amounted to $2,185,965. So almost the entire year's loss was funded by dilution.
As an example, you can take a look at those 15 million warrants that they issued 20 Jun 2017. Those warrants were issued "to a consultant for services rendered". For all we know, the "consultant" was a buddy of his that agreed to give him a nice "kickback". The 10K says that the warrants were worth about $848,011. That is one of the biggest expenses for the company, as it is more than a third of the entire year's losses.
15,000,000 shares at $0.001 comes to a total of $15,000. So the "consultant" would have had to pay $15,000 for the 15,000,000 shares.
The 10K says that 14,651,162 shares were issued (instead of the entire 15 million) on 27 Dec 2017.
The closing price on 27 Dec 2017 (the execution date) was 0.043. $15,000 worth of KBLB stock at 0.043 / share comes to a total of 348,837 shares. If you subtract that from 15 million, you get 14,651,162 shares. That is the exact amount that was exercised.
So KBLB is paying for a lot of their expenses with stock (and diluting the stock at the same time).
I guess you are trying to imply that Kim is some sort of stand-up kind of guy. LOL.
Instead of loaning the company $100K, he should reduce his salary by $100K. He would still be making out like the fat rat that he is, but at least he wouldn't be squeezing the poor shareholders more and more over time, and driving the share price down from 8 cents to 2 cents over the past year.
The company has produced NOTHING over 10 years (except for ONE imaginary glove). Yet he pays himself $320K a year, increases his salary by 6% a year, pays himself a bonus every year, the company pays $40K a year for his car, he gives himself 100s of millions of shares, ad infinitum.
BTW, how does a car cost $40K a year! What is he driving a Ferrari?
Yet now you want to claim that he is a stand-up guy. ROTFL!
Sorry, I didn't catch that those were warrants.
In the most recent 10K, search for the following text:
"816,847,910 and 773,627,964 shares issued and outstanding, respectively"
You will see that the $ amount of stock increased by about $2.2 million between 31 Dec 2016 and 31 Dec 2017.
That amount should fund operations for about a year.
"As of November 14, 2017, there were 802,196,748 shares of the issuer’s common stock
There are 816,847,910 shares of common stock issued and outstanding as of March 13 , 2018"
According to your #s, another 14.5 million shares were added in about 4 months. That is about 1/2 million $.
In addition, if you take a look at KBLB's financials, you will see that Kim is loaning the company money (at a profit of course).
It sounds like a paid advertisement.
"24/7 Market News (24/7MN) is a third party publisher and news dissemination service provider that produces regular sponsored and non-sponsored reports, articles, stock market blogs, and newsletters covering equities listed on the NYSE, NASDAQ and micro-cap exchanges."
The Army is definitely NOT funding KBLB
According to KBLB financials, the Army has only given KBLB a TOTAL of about $129K over the last two years. That doesn't even cover 1 months worth of expenses.
If they had either of those documents, they would shout it from the rooftops.
KBLB had previously created a PR about 2 years ago (back in May 2016) stating that they were waiting to receive the documents back from the State Dept. If they created a PR announcing that they had sent in the paperwork, they would certainly create another PR announcing that they received it back. Unfortunately, they are still waiting. But that doesn't surprise me (since the gov't takes forever to do almost anything). So I doubt it will be ready anytime soon. Maybe in another year or two.
http://www.kraiglabs.com/kraig-biocraft-laboratories-finalizes-biosafety-assessment-for-vietnam/
Vietnam still requires documents from the USDA AND State Dept. (both of which KBLB doesn't have) before they will approve KBLB.
Sorry, no soup for you. And definitely no pie! :)
http://i0.kym-cdn.com/entries/icons/original/000/012/980/soup_nazi_large.jpg
<< asked Ben and he said the army was taking care of an emergency order first >>
If Ben told you that then he is breaking SEC regulations by giving you insider (non-public) information. That information should be properly transmitted in a PR.
Closer is relative.
Is an ant climbing an anthill closer to the moon?
I totally agree. That is why I said "they supposedly haven't tested". They probably already know that the fiber isn't up to snuff (and are trying to buy more time as usual).
I wrote about the issues with smaller cocoons about two months ago, but nobody would listen:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=138452398
KBLB has known about these issues for years, but they are just now starting to admit the issues that they are having.
From the latest PR, it looks like they are just starting to deal with the issue, but they have a long, long way to go.
KBLB stated that they have created a larger cocoon, but they supposedly haven't tested the strength of the fibers from those cocoons yet. Their exact words were "Mechanical performance testing of this new hybrid spider silk line is expected to begin shortly."
Once again, this tells me that KBLB is nowhere close to commercialization. They are still a research lab trying to figure out how to get there.
<< Is it possible that the customer (Army) has changed their priorities for the material they have requested? >>
No, definitely not. If they Army wanted to change their mind, then they would need to rewrite the contract (and that hasn't happened otherwise it would show up in the government contract databases - which it hasn't).
KBLB still owes the Army the shootpacks (which are now almost 2 years overdue).
They will also owe the Army 100 kgs of custom spidersilk fiber in a few months (when that part of the contract comes up due).
They will NOT receive the rest of the money from the Army if the don't produce the deliverables (KBLB has so far received only about $129K from the Army in the past year and a half). In addition, you can kiss the Army goodbye if they don't make these deliverables anytime soon (and the Army might have already written KBLB off because of their inability to deliver).
<< I just hope the news is good, especially regarding Vietnam. >>
KBLB needs to provide 2 things to MARD in order to get into Vietnam:
(1) a biosafety document from the U.S. State Dept
(2) a document from the US Department of Agriculture
KBLB has neither of them.
If KBLB receives either of these, you should see a PR in that regards.
Until then, it is all just wishful thinking...
October 3, 2017: "A representative from the Ministry of Agriculture and Rural Development (MARD) has received a dossier from Kraig Biocraft Laboratories, Inc. (USA) for the project to import and produce genetically modified silkworms (spider silkworms). After considering the dossier, the Ministry of Agriculture and Rural Development (MARD) found that the dossier was missing: (1) The biosafety certificate granted for the gene transfer event to the silkworm variety meeting the requirements in Article 22, Article 23 Decree 69/2010 / ND-CP dated 21 June 2010 of the Government on management of biological safety of genetically modified organisms. (2) License for use of genetically modified (AI) silkworms in US Department of Agriculture (USDA) mass production."
http://vietseri.vn/Chi-tiet-tin/Tin-tuc/11752/trien-khai-du-an-nhap-va-nuoi-tam-bien-doi-gen
You can read Vietnamese Decree 69/2010 (Biosafety of Genetically Modified Organisms, Genetic specimen and Products Derived from Genetically Modified Organisms) here:
http://www.biosafetyscanner.org/pdf/doc/456_allegato.pdf
<< In all fairness, they never said they would share the photos in March. >>
Tomorrow is the last day of the month that the stock market will be open and trading. It is the last day that KBLB can fulfill the promises they made (completion of shootpacks, photos of shootpacks, decision on Vietnam, etc) about two months ago.
It's the bottom of the 9th inning with two outs and two strikes. Kim is up at bat. Will KBLB hit the game winning grand slam that everyone is hoping for? Or will the game end and the fans leave the stadium disappointed?
Sorry, but that is incorrect. The range in Jan 2017 was around 5 to 9 cents. That was back in the "good old days" when the share price was actually on the upswing. How far they have fallen...
Today's Trades: 491K Sells & 9K Buys
This stock has been on a downward trend for the last year. There is nothing that will change its momentum over the next few months. Vietnam requires documents that KBLB doesn't have. The Army contract is in peril and they won't make a decision until BOTH deliverables have been received (which is in a few months).
<< I keep hoping and praying for a buyout, and I was thinking of a PPS or around five dollars. At that price, KBLB would still be a steal for just around four billion dollars.. >>
ROTFL.
You'll be lucky if KBLB ever makes it back to 5 cents.
DOW up 650 points, KBLB down 6%
<< kim is creating the scenario where kblb owes him money for different reasons...I don't like that..hes doing it purposely...I don't know the reason why...but it sure stinks to me.. >>
Is it possible that he is preparing for a bankruptcy (where stockholders get zip and creditors will receive their fair due?
KBLB has been around for at least 10 years. In all of that time, they haven't been able to produce a single product.
In Jun 2016, they were awarded a contract with the Army (for about $100,000). That is when the stock price shot up (but ever since then it has plummeted). They were supposed to deliver a few sample shootpacks to the Army by Apr 2017 (10 months later). They missed the deadline and blamed it on another company (their reeler). The Army was then gracious enough to give them another 8 months (until Dec 2017). But they missed that delivery as well. They again blamed it on another company (Warwick Mills). Here we are almost 2 years since they were awarded the contract, and they still haven't delivered anything (not even a few sample shootpacks).
Along the way, the Army received a few fibers from them and they tested them. They must have liked them enough, because the Army then decided to execute the 12-month optional phase of the contract (worth about $900,000) in Aug 2017, which requires KBLB to create custom spider silk (to certain specs). The delivery is due Aug 2018, but they have already started making excuses about how the specs for their worms are out of range and needs to be corrected.
IMO, the only thing this company produces is hope. Every PR and newsletter is filled with forward-looking statements. And nothing is ever produced. It is always "almost there".
KBLB is in the hole about $200,000 / month. Yet, the CEO pays himself over $300,000 / year, he gives himself a raise every year, and he gives himself a 20% bonus every year (that is in addition to the 100s of millions of shares of stock that he has given himself).
The CEO also bought land that he leases back to the company (for a profit).
Here are some notes after a quick review of the 10K:
- KBLB received another $70,096 from the Army in the 4Q 2017. That is less than $25,000 per month.
That brings the total amount received from the Army to $129,176 (since they first signed the contract in 2Q 2016).
- Kim sold about 3.8 millions (personal) shares during 2017. He has about another 200 million shares that he can sell (and still have control over the company).
- Kim's salary is now $315,764 (up from $297,889 (or about 6%) from the prior year).
- The float increased about 36 million shares during 2017.
It has been like that for many days.
But you are correct, there hasn't even been ONE buy today.