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.
KBLB is required by law to file the proper SEC 8-K forms for annual shareholders meetings. One 8-K should be the announcement of an upcoming meeting with all of the details. The other 8-K should be a synopsis of the meeting. They have failed to do that over the past 4 years. They were required to do it, and "should" have done it, but they haven't. They are negligent in their fiduciary duties as a public company.
In 2019, KBLB held their most recent annual shareholders meeting. They haven't had an annual shareholders meeting since (which means that they have been negligent for the past 4 years).
During that year, KBLB posted both 8-Ks (as required by law):
Announcement: https://www.sec.gov/Archives/edgar/data/1413119/000165495419008267/kblb_8k-071519.htm
Ex 99.1 for Announcement: https://www.sec.gov/Archives/edgar/data/1413119/000165495419008126/ex991.htm
Ex 99.2 for Announcement:
https://www.sec.gov/Archives/edgar/data/1413119/000165495419008126/ex992.htm
Summary: https://www.sec.gov/Archives/edgar/data/1413119/000165495419008584/asm8-k.htm
Shareholders should be holding their feet to the fire to have an annual shareholders meeting. Shareholders should want to hear what is going on. Shareholders should be able to vote on crucial matters. Shareholders should want to ask questions and receive answers.
<< Already did. Yesterday >>
Sorry, but you didn't.
You only posted 5 posts yesterday, and none of them contain a link at all (let alone one to an 8-K for the 2022 Annual Shareholder's Meeting).
https://investorshub.advfn.com/boards/profile.aspx?user=427868
So, once again, please post a link for the 8-K for 2022 that shows anything to do with an annual shareholders meeting. Legally, there should be 2 SEC filings (one for the announcement and one for the results).
You won't find any.
There were only two (2) 8-Ks posted by the company in the entirety of 2022. Both of them were for an Item 1.01 - Entry into a Material Definitive Agreement (which was the debt agreement with YA II PN that caused massive dilution which led to the share price plummeting from around 9 cents to 3 cents):
8-K: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001413119/000149315222001765/form8-k.htm
8-K/A: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001413119/000149315222009703/form8-ka.htm
The same can be said for 2021 and 2020.
There hasn't been a proper annual shareholders meeting since July 2019.
<< It’s in the 8-K every year that the directors were installed at the AGM and serve for a year. >>
Please post a link for the 8-K for 2022 that shows anything to do with an annual shareholders meeting. Legally, there should be 2 SEC filings (one for the announcement and one for the results).
You won't find any.
There were only two (2) 8-Ks posted by the company in the entirety of 2022. Both of them were for an Item 1.01 - Entry into a Material Definitive Agreement (which was the debt agreement with YA II PN that caused massive dilution which led to the share price plummeting from around 9 cents to 3 cents):
8-K: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001413119/000149315222001765/form8-k.htm
8-K/A: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001413119/000149315222009703/form8-ka.htm
The same can be said for 2021 and 2020.
There hasn't been a proper annual shareholders meeting since July 2019.
<< No they don’t have to every year. >>
Yes, they do. It's the law.
According to the SEC, a public company MUST hold an annual shareholders meeting at least once every 12 months. The meeting must be held at a reasonable time and place, and it must be announced to shareholders at least 10 days in advance.
KBLB hasn't done that in over 4 years.
In addition, they need to report the results of every annual shareholders meeting in an 8-K.
KBLB hasn't done that in over 4 years either.
Sorry, but KBLB is breaking the law.
By law, the SEC requires a public company to file a form 8-K Item 5.07 with the results of the annual shareholders meeting. They haven't done that in over four years.
KBLB did it back in July 2019 (when the Scumbag CEO tried to trick shareholders into giving him even more control of the company).
https://www.sec.gov/Archives/edgar/data/1413119/000165495419008584/asm8-k.htm
There hasn't been an 8-K filing for a shareholder's meeting since then (in over 4 years).
There have been no annual shareholders meetings over the last few years. That is the point. All public companies are required by law to announce the meeting to shareholders. KBLB is not doing that.
In addition, a public company is legally required to report on the results of the annual shareholders meeting. This is required by the Securities and Exchange Commission (SEC). The report must be filed with the SEC within four business days of the meeting.
The report must include the following information:
- The date, time, and location of the meeting
- The number of shares outstanding and the number of votes cast
- The results of each matter voted on
- Any other information that is required by the SEC
The report must be filed with the SEC electronically through EDGAR. It can also be posted on the company's website.
The purpose of this requirement is to ensure that shareholders have access to information about the decisions that were made at the annual meeting. This information is important for shareholders to make informed decisions about their investment in the company.
Here are some of the reasons why it is important for public companies to report on the results of their annual shareholders meeting:
To ensure transparency: Shareholders have a right to know how their company is being run. The results of the annual shareholders meeting provide shareholders with information about the company's performance, its financial condition, and its plans for the future.
To protect shareholder rights: The results of the annual shareholders meeting can help to protect shareholder rights. For example, if a shareholder voted against a proposal that was approved by the board of directors, the shareholder can use the results of the meeting to challenge the board's decision.
To build trust with shareholders: When a company reports on the results of its annual shareholders meeting, it is demonstrating to its shareholders that it is transparent and accountable. This can help to build trust between the company and its shareholders.
Overall, it is important for public companies to report on the results of their annual shareholders meeting. This is a requirement of the SEC and it is important for shareholders to have access to this information.
*****FILING A COMPLAINT AGAINST KBLB*****
For those that would like to file a complaint against KBLB:
***MORE DILUTION COMING "SOON"***
This is from the most recent quarterly filing:
****** WHEN SHAREHOLDERS MEETING? ******
Annual shareholders meetings are required by law. They are vital because they allow shareholders to vote on important matters affecting the company, such as the election of directors and the approval of major corporate actions.
KBLB hasn't had a shareholders meeting since July 2019 (when the Scumbag CEO tried to scam shareholders into giving him over 90% control of the company).
That means that there hasn't been a shareholders meeting in over 4 years.
According to the Securities and Exchange Commission (SEC), a public company MUST hold an annual shareholders meeting at least once every 12 months. The meeting must be held at a reasonable time and place, and it must be announced to shareholders at least 10 days in advance.
If a company fails to hold an annual shareholders meeting, shareholders can file a lawsuit against the company. The shareholders can also ask the SEC to take action against the company.
The SEC can impose fines on companies that fail to hold annual shareholders meetings. The SEC can also force the company to hold a meeting.
If you are a shareholder in a company that has not held an annual shareholders meeting, you can contact the company and ask why the meeting has not been held. You can also contact the SEC and file a complaint.
Here are the steps on how to force a stock company to have an annual shareholders meeting:
- Contact the company. The first step is to contact the company and ask why the meeting has not been held. You can do this by calling the company's shareholder relations department or by writing a letter to the company's CEO.
- File a complaint with the SEC. If the company does not respond to your inquiry, you can file a complaint with the SEC. You can do this online or by mailing a complaint form to the SEC.
***BIG DOWN DAY ON HEAVY VOLUME***
The share price today was down 8% on very high volume (2 MILLION shares).
And before anyone says that 2 MILLION shares isn't that much, this stock has been averaging 280,000 shares a day over the past month, so that is 7x the daily average.
On top of that, there were 3x as many SELLs than buys (1.51 MILLION SELLS vs 530K buys).
<< Anyone think they are getting close to bankruptcy? >>
According to their most recent financial, they spent $1.2 million in the 1st 6 months (which equates to a burn rate of about $600K per quarter), and had a little over $500K in cash.
Does anyone know how much they raked in with the latest unit program?
Lots of huge sell orders:
300,000 shares
100,000 shares
127,000 shares
487,605 shares
In addition, some of the trades executed at 9:28 am and 9:29 am (before the market opened).
<< Another great KBLB buying opportunity is here! CHEAP SHARES! >>
Anyone who listens to this foolish advice deserves to lose their money.
***1.6 SHARES DUMPED AT THE OPEN***
The share price has dropped over 10.5%!
Ouch! That has got to hurt.....
It looks like a whale is dumping shares.....
Hopefully it isn't the Australian shareholder....
Anyone remember this oldie but goodie (from Apr 2020)?
For newbies, It shows a prepared scene where the Scumbag CEO is trying to make himself look important by approving a document and having “flashes” light up as if it were a press conference. Pathetic.
https://i.ibb.co/xHYPwhL/Kraig-Biocraft-Laboratories-Inc.gif
***** HISTORY OF KBLB CLAIMING "PRODUCTION" (UPDATED) *****
KBLB has (falsely) stated that they have been in production for over 10 years. In reality, they haven't produced more than a few pounds of spider-ish silk (at most).
The following are actual titles of KBLB PRs over the past 10 years that all state that commercial production was "just around the corner" (yet we are all still waiting):
Jan 22, 2013 - Kraig Biocraft Laboratories to Launch Monster Silk Pilot Production Program
Jul 15, 2013 - Kraig to Launch Commercial Production of Monster Silk
Oct 7, 2013 - Kraig Launches Commercial Production of Monster Silk
Mar 20, 2014 - Kraig Biocraft Laboratories’ Spider Silk is on Track for Large Scale Production
May 29, 2014 - Kraig Biocraft Laboratories’ Spider Silk Production Poised to Double
Jul 9, 2014 - Kraig Biocraft Laboratories’ Succeeds In Doubling Its Production Of Monster Silk
May 16, 2016 - Kraig Biocraft Laboratories, Inc. To Establish Additional Production Operations For Spider Silk
Oct 11, 2016 - Kraig Biocraft Laboratories’ New Spider Silk Production Facility Reaches Peak Capacity Ahead Of Schedule
Dec 19, 2016 - Kraig Biocraft Laboratories Completes First Phase Of Dragon Silk Fiber Production For Its Military Contract
Apr 17, 2017 - Kraig Biocraft Laboratories Expands Domestic Spider Silk Production Capacity
Apr 11, 2018 - Kraig Biocraft Laboratories’ New R&D Facility Extends Its Competitive Advantages and Prepares for Large Scale Production
Jul 3, 2018 - Kraig Biocraft Laboratories Management Travels to Vietnam to Oversee the Opening of Its Spider Silk Production Subsidiary, Prodigy Textiles
Jul 24, 2018 - Kraig Biocraft Laboratories Accelerates Its Spider Silk Production Ramp up
May 7, 2019 - Kraig Biocraft Laboratories Expands Production Footprint in Vietnam
May 30, 2019 - Spider Silk Production Breakthrough from Kraig Biocraft Laboratories
Oct 8, 2019 - Kraig Biocraft Laboratories Launches Spider Silk Production Scale up with New Delivery of Silkworms to Prodigy Textiles
Dec 17, 2019 - Kraig Biocraft Laboratories Readies for First Commercial Shipment of Recombinant Spider Silk and Accelerated Growth in Production
May 12, 2020 - Kraig Biocraft Laboratories Prepares for 2020 Production
Oct 28, 2020 - Kraig Biocraft Laboratories Delivers Recombinant Spider Silk Silkworm Eggs To Production Facility In Vietnam
Mar 10, 2021 - Kraig Biocraft Laboratories Increases Planned Production By Doubling Near Term Spider Silk Production Schedule
Jun 01, 2021 - Kraig Biocraft Laboratories Strengthens Production Operations With New Automated Equipment
Jul 27, 2021 - Kraig Biocraft Laboratories Provides Spider Silk Production Update
Aug 17, 2021 - Kraig Biocraft Laboratories Completes Transition Of Production Operations To Custom Designed Silk Rearing Facility
Dec. 02, 2021 - Kraig Biocraft Laboratories Begins Production Of Fourth Generation Recombinant Spider Silk Silkworms In New Production Headquarters
Dec. 09, 2021 - Kraig Biocraft Laboratories Expands Production Footprint, Building Self Reliant Supply Chain
Apr 27, 2022 - Kraig Biocraft Laboratories Kicks Off Q2 Recombinant Spider Silk Production As Lab Increases Testing Throughput Nearly Ten Fold
May 3, 2022 - Kraig Biocraft Laboratories Strengthens Q2 Spider Silk Production Expansion With New Vendor Quality Assurance Program
Jun 21, 2022 - Kraig Biocraft Laboratories Subcontractor Pilot Production Has Achieved Required Spider Silk Production Levels For The Spydasilk Apparel Launch
Jul 6, 2022 - Kraig Biocraft Laboratories Introduces New, Enhanced Line Of Dragon Silk Silkworms For Commercial Production
Jan 26, 2023 - Kraig Biocraft Laboratories Delivers The First Two Hybrid Dragon Silk Silkworm Strains For Commercial Production
Jul 19, 2023 - New Sericulture Experts Join Kraig Biocraft Laboratories, Bringing Extensive Experience Supporting Acceleration Of Production Ramp-up
DON'T BUY THE HYPE, OR THE SNAKE OIL
***MORE DILUTION COMING "SOON"***
This is from the most recent quarterly filing:
<< The 2022 annual report showed an inventory of silk >>
The financials never gave specifics about the inventory. It could be anything (even just supplies).
<< If I recall correctly, KBLB signed the contract with Kings in 2021. >>
That is incorrect. They signed the contract in Nov 2020.
https://www.sec.gov/Archives/edgar/data/1413119/000149315221001811/ex10-1.htm
<< I’m guessing their inventory is between 100 and 200 kilos >>
If you believe that they have 100-200 kilos with a inventory of $6000, then that would put 1 kilo at $30-60. That doesn't sound correct.
*****FILING A COMPLAINT AGAINST KBLB*****
For those that would like to file a complaint against KBLB:
*****KBLB - FAILURE AFTER FAILURE*****
NEW: 2023: Kings / MtheMovement to Purchase Up To $12 Million in Spidersilk - FAILED
NEW: 2023: Commercial production - FAILED
2022: Commercial production - FAILED
2022: Kings / MtheMovement to Purchase Up To $5 Million in Spidersilk - FAILED
2022: Website & apparel launch - FAILED
2021: Kings / MtheMovement to Purchase Up To $3 Million in Spidersilk - FAILED
2021: "Spydasilk should hit the ground running" - FAILED
2021: $250K prepayment from Kings / MtheMovement- FAILED
2019-2020: Uplist to NASDAQ - FAILED
2019: Commercial production - FAILED
2019: Appoint Independent Board of Directors - FAILED
2019: Polartec MOU - FAILED
2018: "Our recombinant spider silk silkworm technology is a direct drop-in replacement for traditional silkworms and allows us to move quickly, with minimal investment, to bring new products to market" - FAILED
2018: ““We are busy preparing silkworm eggs for shipment and putting the team in place at Prodigy to hit the ground running.” - FAILED
2016-2018: Army Contract - FAILED
NEW: 2016: “the Company is on schedule to produce all of the recombinant spider silk necessary to fulfill its contract with the US Government on time” - FAILED
2017: Mulberry facility in Texas - FAILED
2014-2015: "R&D .... is no longer necessary" - FAILED
2014-2015: “Scale and sale” - FAILED
2013-2015: Commercialization of Big Red - FAILED
2013-2014: Warwick Mills Partnership - FAILED
2013: SSM Industries Partnership - FAILED
And those are just a few of the MANY, MANY FAILURES that KBLB has had over the years….
****** WHEN SHAREHOLDERS MEETING? ******
Annual shareholders meetings are required by law. They are vital because they allow shareholders to vote on important matters affecting the company, such as the election of directors and the approval of major corporate actions.
KBLB hasn't had a shareholders meeting since July 2019 (when the Scumbag CEO tried to scam shareholders into giving him over 90% control of the company).
That means that there hasn't been a shareholders meeting in over 4 years.
According to the Securities and Exchange Commission (SEC), a public company MUST hold an annual shareholders meeting at least once every 12 months. The meeting must be held at a reasonable time and place, and it must be announced to shareholders at least 10 days in advance.
If a company fails to hold an annual shareholders meeting, shareholders can file a lawsuit against the company. The shareholders can also ask the SEC to take action against the company.
The SEC can impose fines on companies that fail to hold annual shareholders meetings. The SEC can also force the company to hold a meeting.
If you are a shareholder in a company that has not held an annual shareholders meeting, you can contact the company and ask why the meeting has not been held. You can also contact the SEC and file a complaint.
Here are the steps on how to force a stock company to have an annual shareholders meeting:
- Contact the company. The first step is to contact the company and ask why the meeting has not been held. You can do this by calling the company's shareholder relations department or by writing a letter to the company's CEO.
- File a complaint with the SEC. If the company does not respond to your inquiry, you can file a complaint with the SEC. You can do this online or by mailing a complaint form to the SEC.
***MORE DILUTION COMING "SOON"***
This is from the most recent quarterly filing:
***NEWBIES***
Run like hell from this ticker, and never look back....
KBLB has almost 100 TRILLION authorized shares.
Yes, you read that correctly.
100 TRILLION authorized shares.
https://www.otcmarkets.com/stock/KBLB/security
<< that "fanatic" was you. >>
WRONG AGAIN!
That is totally incorrect. It was your pumper buddy EOT that posted that information (that the Air Force won't respond until July 2024):
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172113689
I was just passing the information that he found to others....
<< Do you foresee the AF making announcements soon? >>
Definitely NOT.
About two months ago, one of the fanatics on the board posted a link that showed that a response date isn't expected until Jul 2024 (in about a year).
And once that is done, then they will need to post an RFP (Request for Proposal), which (once again) will take many, many months to process.
*****KBLB - FAILURE AFTER FAILURE*****
NEW: 2023: Kings / MtheMovement to Purchase Up To $12 Million in Spidersilk - FAILED
NEW: 2023: Commercial production - FAILED
2022: Commercial production - FAILED
2022: Kings / MtheMovement to Purchase Up To $5 Million in Spidersilk - FAILED
2022: Website & apparel launch - FAILED
2021: Kings / MtheMovement to Purchase Up To $3 Million in Spidersilk - FAILED
2021: "Spydasilk should hit the ground running" - FAILED
2021: $250K prepayment from Kings / MtheMovement- FAILED
2019-2020: Uplist to NASDAQ - FAILED
2019: Commercial production - FAILED
2019: Appoint Independent Board of Directors - FAILED
2019: Polartec MOU - FAILED
2018: "Our recombinant spider silk silkworm technology is a direct drop-in replacement for traditional silkworms and allows us to move quickly, with minimal investment, to bring new products to market" - FAILED
2018: ““We are busy preparing silkworm eggs for shipment and putting the team in place at Prodigy to hit the ground running.” - FAILED
2016-2018: Army Contract - FAILED
NEW: 2016: “the Company is on schedule to produce all of the recombinant spider silk necessary to fulfill its contract with the US Government on time” - FAILED
2017: Mulberry facility in Texas - FAILED
2014-2015: "R&D .... is no longer necessary" - FAILED
2014-2015: “Scale and sale” - FAILED
2013-2015: Commercialization of Big Red - FAILED
2013-2014: Warwick Mills Partnership - FAILED
2013: SSM Industries Partnership - FAILED
And those are just a few of the MANY, MANY FAILURES that KBLB has had over the years….
***NEWBIES***
Run like hell from this ticker, and never look back....
KBLB has almost 100 TRILLION authorized shares.
Yes, you read that correctly.
100 TRILLION authorized shares.
https://www.otcmarkets.com/stock/KBLB/security
****NEWBIES****
Don't waste your time with this worthless penny stock.
Here is a quick synopsis of the stock (and all that you really need to know).
In one month, it is down 7%.
In one year, it is down 35%.
In 3 years, it is down 70%.
In 5 years, it is down 42%.
*****FILING A COMPLAINT AGAINST KBLB*****
For those that would like to file a complaint against KBLB:
We have been told over and over again that the company PRs are the ONLY way to know the real "truth" about KBLB.
OK, well, let's take a look at that so-called "truth" from some of KBLB's PRs over the years:
- How about the PR that (falsely) stated that they were going to make their 1st delivery around Oct 16, 2022?
***MORE DILUTION COMING "SOON"***
This is from the most recent quarterly filing:
<< This year in late February I contacted Ben to ask him about the location and to confirm the date (2nd Wednesday in March, March 8 this year) and starting time (11 am) of the ASM. I was told that KBLB was not holding an ASM this year. >>
If you have that in writing, then I would recommend sending that to the SEC and the WY Attorney General. The only way that the Scumbag CEO will make changes that will benefit shareholders is if he is forced to.
*****KBLB - FAILURE AFTER FAILURE*****
NEW: 2023: Kings / MtheMovement to Purchase Up To $12 Million in Spidersilk - FAILED
NEW: 2023: Commercial production - FAILED
2022: Commercial production - FAILED
2022: Kings / MtheMovement to Purchase Up To $5 Million in Spidersilk - FAILED
2022: Website & apparel launch - FAILED
2021: Kings / MtheMovement to Purchase Up To $3 Million in Spidersilk - FAILED
2021: "Spydasilk should hit the ground running" - FAILED
2021: $250K prepayment from Kings / MtheMovement- FAILED
2019-2020: Uplist to NASDAQ - FAILED
2019: Commercial production - FAILED
2019: Appoint Independent Board of Directors - FAILED
2019: Polartec MOU - FAILED
2018: "Our recombinant spider silk silkworm technology is a direct drop-in replacement for traditional silkworms and allows us to move quickly, with minimal investment, to bring new products to market" - FAILED
2018: ““We are busy preparing silkworm eggs for shipment and putting the team in place at Prodigy to hit the ground running.” - FAILED
2016-2018: Army Contract - FAILED
NEW: 2016: “the Company is on schedule to produce all of the recombinant spider silk necessary to fulfill its contract with the US Government on time” - FAILED
2017: Mulberry facility in Texas - FAILED
2014-2015: "R&D .... is no longer necessary" - FAILED
2014-2015: “Scale and sale” - FAILED
2013-2015: Commercialization of Big Red - FAILED
2013-2014: Warwick Mills Partnership - FAILED
2013: SSM Industries Partnership - FAILED
And those are just a few of the MANY, MANY FAILURES that KBLB has had over the years….
<< if they got contracts supplying medical Spider Silk would generate money? >>
KBLB already signed a contract back in Nov 2020 (with MtheMovement) that was supposed to be worth up to $40 million. Since that contract has been signed (which is now over 2 years and 9 months ago), they haven't made a penny in income.
In addition, the Scumbag CEO stated that they were going to receive a $250K prepayment. That was a lie, because they haven't received a penny from that either.
What would make anyone think that signing another meaningless contract would change anything?
But one thing that does happen every day, week, month, and year, is that the Scumbag CEO continues to stuff his pockets full of shareholder's hard-earned money.
****NEWBIES****
Don't waste your time with this worthless penny stock.
Here is a quick synopsis of the stock (and all that you really need to know).
In one week, it is down 3%.
In one month, it is down 6%.
In one year, it is down 38%.
In 3 years, it is down 73%.
In 5 years, it is down 40%.
***NEWBIES***
Run like hell from this ticker, and never look back....
KBLB has almost 100 TRILLION authorized shares.
Yes, you read that correctly.
100 TRILLION authorized shares.
https://www.otcmarkets.com/stock/KBLB/security