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I agree. We should start to climb again today. At least break the .23 mark. Start touching .26 again. Now that the RS isn’t even a guarantee and it was made even more clear that the RS is for up listing as needed or other financing from an institutional investor.
Either one is great news. Plus as you pointed out the vote was pretty one sided. The people seem to be trusting Kim.
Also now that the meeting is over news will likely start to flow again.
The weeks ahead should be pleasant.
If there are 836 million shares outstanding and Kim has 225 of them. That leaves 611 million. So then he has 400 million voting rights. That’s a total of 625 million. So it’s pretty much 51/49 give or take 1/2%. That’s a far cry from 75%.
“The Company’s board anticipates that, if exercised, a reverse split would be completed to meet the listing requirements of an uplist to a national securities exchange, or to allow investment from larger institutional investors currently prohibited from investing in the Company”
This makes it sound like even if we didn’t get up listed. Just having a higher valuation would allow for other investors to step in.
Am I reading that right?
Less than 10% voted against the reverse split. I would think that if it were as big of deal as many claimed. That number would be closer to 40%.
ANN ARBOR, Mich., – July 29, 2019 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announces today that the Company’s shareholders have voted to approve uplisting to a national securities exchange, during its annual shareholder meeting (“meeting”) held on July 24. Additionally, shareholders overwhelmingly approved all proposed ballot measures.
The meeting attendance greatly exceeded Company management’s expectations, including shareholders from outside of the US in the audience. Originally planned for forty five minutes, the meeting lasted for over three and a half hours, with Company management holding open question and answer sessions during both the formal and informal portions of the meeting.
Kim Thompson, the founder and CEO of Kraig Labs, provided a presentation to shareholders on the significance of the Company strategy to uplist to a national exchange and the underlying efforts the Company has made to prepare for this transition.
Jon Rice, the Company’s COO, shared an overview of the Company’s multiphase production model, progress in the buildout of its overseas factory, and the Company’s go to market strategies leveraging collaborations with leading brands in select market channels.
Several member of the Kraig Labs staff were in attendance at the meeting, including Dr Trevor Kane, the Company’s newly appointed Chief Scientist. Samples of the Company’s recombinant spider silk thread and silkworms, at each stage of the lifecycle, were on display for shareholders to see and touch.
“I believe that today’s shareholder vote and approval of all of the ballot measures puts Kraig Labs on a solid footing for our future growth,” said Thompson. “I would like to personally thank all of our shareholders for their support of the proposals. With their overwhelming support and encouragement we are emboldened to carry forward with our plans to disrupt the textile markets with our eco-friendly and affordable recombinant spider silk.”
Cautionary Statement: While management and shareholders have approved an uplist, there can be no guarantee that these plans will come to fruition. There are a number of obstacles that the Company will have to successfully navigate before an uplist can be implemented.
“The shareholder meeting was an absolute success. It was a pleasure to meet with so many of our shareholders and share our mutual excitement for the future of Kraig Labs,” said COO Jon Rice.
Details of the voting results can be found on the Company’s website, please go to www.KraigLabs.com/sec-filings/
To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news
Name one person who has been in this stock for more than 6 months or more, who held there shares, that is hurting with today’s price.
Thanks little G. So it’s safe to say that my assumption that Kim is 10 steps ahead of us is a safe assumption? I always figured once we hit the ground we will be running.
I have never seen the bid ask stacked up like this. There’s also a small c in front of the mm name. Does anyone no what that’s about? Both bid and ask are way higher then close on level 2.
My point with that statement was that sunny is trying to sell it as a doom and gloom concept. Yet it’s kind of the same as a buyout scenario. Which many people would be happy with.
If Kim screws us over he screws over Notre Dame, whoever gave him the million dollar loan recently, and anyone else that he is given shares to you in exchange for something.
Sure it wouldn’t likely be ideal compared to many goals here on the board. But I’m sure that we would walk away with a reasonable amount of money greater than we started with.
Sunny said he’s out. Why does he need followers. Because he isn’t completely convinced himself?
Oh I get it. So it’s the second step and he’s just doing it first.
Seriously?
Pretty sure this is just a blanket statement. Similar to a boilerplate statement.
Elon Musk said he was going private and the stock went up.
I thought that was the value I read for up listing.
Mojo’s idea is implying that Kim is blatantly lying. I have never seen anything that would make me think Kim would do that. He has been wrong or off on something’s. But I don’t think he would just lie up front. Dilution is the same at this level as up listed. It’s just a difference in the quantity of shares. We’re not sitting at .0001 where he can’t sell into it. Note I’m not implying he intends to dilute. Just saying what’s the difference between now and post split.
Just wondering if a contract for 80mil would count as as an asset for the up list process? I realize that’s a tall order. Just throwing ideas out there.
That’s why I mentioned the PRs. I think he would use whatever info he can to raise the SP and then figure out the RS.
I hope for news tomorrow. If mojo is correct and I kind of think he is. RS will come fast. So why not start right before the meeting with a PR. That way he won’t be met with hostility from shareholders. And then continue from there followed by a minimum RS.
There were a lot of shares accumulated between 19-21. I think we would need volume of 20 million plus to break through that.
I think the market has shown it’s pretty comfortable in the low 20s. I think we will maintain here until further news. Of coarse it depends how long news takes. Pretty good chance we will hear something this week. We just don’t know what.
We will recover in the afternoon in hopes of a PR tomorrow. If no PR then rinse and repeat tomorrow. Down in the morning recover in the afternoon. Just my 2 cents.
It’s funny how people view things differently. From my perspective we’re over 300% up. Stock don’t ever travel linear. OTC has big swings. Happens all over. Especially after a good run.
A lot of people probably saw the writing on the wall, in terms of the share price dropping, and capitalized on it. I definitely saw it. Just didn’t know how bad it would be. I have a job that makes it difficult to capitalize on it. I also don’t have a traders account. So I’m limited on how many trades I can make. The morning the RS was spoke of I had none stop people in my office until it had dropped in the low 30s. I wish I had been able to sell some and buy more shares. I did get a small trade in on Wednesday. Added a few more shares.
Some of those are the exact picture that luvsilk posted. Did he still have them available somewhere?
My state won’t be any less true next week. I said today we will be green. And it was even better than I thought it would be. I was hoping .23. Nice buying in power hr. Next week should be interesting.
I think I pick the fast lane.
I maybe over thinking this. But I wonder if they wouldn’t have a dummy location set up.
I’m not sure that there is a minimum time frame. But you could get notice weeks before it takes place. We have already seen a good share of the fallout already. I think if Kim does it right away it will be less devastating in my opinion. But of course I think that would be after putting out some PRs to help the price. One thing is for sure. We will all find out. I keep thinking big picture. That’s what investing is. Trading is small picture. Good luck to you.
Agreed. There is no way he wants to face a group of hostile shareholders. I think he means to make some very fast moves. Uncharacteristic I know. Lol. I say day of or day before the meeting he will release news and after the meeting he will keep the ball rolling quickly on his plan.
Lewis left before he all the issues with consistency and quality came up. He still has a couple years of work left I’m sure. He may move faster then Kim, but first punch usually wins the fight. Not to say there isn’t room for multiple companies to make spider silk. But the first one is usually the well know name. Also the one that gets a premium. Look at Red Bull Harley Davidson, Gibson guitars. They all sell for a premium and are the most well known.
Kim achieved this ten years ago. Still a long road ahead. Kim had to do a lot more then just get the worm to produce near spider silk. That’s what the first 5 years of nothing happening with this stock was all about.
The fact that it has gone down so much in a short time is a reason to believe we have a Green Day. Maybe not by much. But 5 days straight in the red is unlikely.
Fantastic post. Sums it up nicely
I think we will dwell around.20 until afternoon and close green. Just my WAG
Peoples expectations don’t usually match reality. Truth is Americans work harder and longer then every other country. Look up the Average vacation days for other countries. It’s mine blowing most countries get more than twice as many days off every year then Americans do. sometimes three times as many. The working conditions in other countries may not be great, but they don’t work like slaves. Like I think a lot of people’s perceptions.
OIC. I misunderstood what you were saying. Absolutely. I can’t wait to up list. I keep a level head but days like to day are still hard to bare. Once we Uplist and start selling product we will see a nice more uniform rise in the share price. It’s all about the total valuation. Not the share price. This company has multi billion dollar potential.
Mundane silk market 5billion. I think we can bite off a big chunk I of that. (MS)
Kevlar does 4 billion a year roughly I think we can take a good chunk of that as well (DS 2.0)
Based on our ability to manipulate the characteristics of our silk I think we can take a pretty good chunk of the 160 billion dollar technical textiles market 5 to 10% maybe long-term 20 year plan (TBD)
But A P/E ratio after up listing could reflect that much sooner. Not real soon mind you. I don’t want to mislead.
The RS isn’t going to hinder the amount of money that can be made. Split or no split. Ratios are still the same. Instead of sitting at .50 waiting to go to $5.00. We will sit at $5.00 waiting to go to $50.00. Mojo will bring up dilution but even if we get it it won’t be that bad. But I get the gist of what you are saying. About 6months ago we were at a nickel. Now we are almost 5 times that and holding up pretty well for 2.5months. If things weren’t about to take off we would have already drifted back to a dime.
You can’t please everyone. I think it turned into a bigger deal then it needed to be. Blows my mind. Thanks for the effort anyway. Share price dropping always makes people go crazy. Like a bunch of children who need a nap.
Steal siding rusts in a tropical climate. Hell it Rust’s right here in the USA. That don’t mean it’s leaking. It’s on the outside. If the are any interior leaks you wouldn’t see them in those pictures. Nor would you see signs of repairing said leaks.
If Kim actually wastes money to make the outside look good before we have serious revenue I would finally agree with mojo about Kim. New sign and lock. Good enjoy for me. The outside has no value in production. It’s not a corporate headquarters. It’s not a retail store. Anyone who made a decision to sell based on the looks of the outside of the building is an idiot.
Sounds reasonable
I suppose the news before and after will all come into play as well.
“kims an idiot...maybe now you are starting to get why I say that.. “
Kim is doing what he seems to feel is necessary. Maybe for reasons beyond his control. I’ll wait for the end result to make judgement.
“everyone thought hitting .30 sucked..if kim puts out news that gets us back there, we'll start hearing the holding the golden again and how kim is a genius..lol “
Just like when the price drops the sky is falling and Kim failed.
cooperatives to develop and simultaneously combine product kings between kbl and Singapore company.
Somewhere around the 1:30-1:45 mark