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Something I've been waiting for for years
This will only happen if there are no more adjustments otherwise we go into next week. This is the normal process once the S-1A if filed. Plenty of companies out there as a reference
Pre split price of .1195 with dilution.
Wait a minute, so the talk of Kim's voting power increasing 40 fold (which has been touted as one of his main reasons Kim wanted to do the RS), is actually complete rubbish? I wonder how some will try to spin this to sound bad?
It is Thompson’s job to promote KBLB to shareholders and customers.
So far, no one has offered the slightest reason why Thompson would want to keep such a positive development secret from shareholders. What is your explanation?
The latter.
Quote:
KBLB is abiding by SEC guidelines. Always have. Always will.
Not too sure of that...
Due diligence.
EOD
“So if the reverse split is kapoot, which means that the uplisting is kapoot, which means that the S-1 is kapoot, then why is there a quiet period? The answer is that there isn't a quiet period any longer. Kim is just silent because he is in hiding.”
Can you prove any of this is true? The company states they are in a quiet period and you say they aren’t. So either they are lying or you are?
[/quote]In other words, the SEC sent them a letter... [/quote]
Which "SEC" letter? The normal correspondence from S-1 or S-1/a interactions? Or are you talking about the "OTC" letter?
The presumption that our provisional patent applications have been abandoned is an obvious one to make, given the public record.
Lots of folks who understand these issues will reach the same conclusion.
All Thompson has to do is provide an update and lay rest to any incorrect interpretations.
A material event is something that can affect the share price.
Are you positive it is considered a material event?
So the "five new provisional patent applications, for technologies related to its recombinant spider silk technologies." are dead, and have been since May. Isn't that wonderful!
I pulled the tags last year
So lets get this straight...
The share price was up near 50 cents last year.
Then Kim announce his desire to reverse split and the share price instantly nose dives. Shareholders complain that they don't want a reverse split.
Now the RS has expired and shareholders are reacting like they wanted it the whole time and are disappointed?
Some of you all are hilarious.
One thing I will add that I don't think many people know is that, unlike most SEC forms, the correspondence between the company and the SEC regarding form amendments is not published in real time. It has a 45 day lag in regards to being published on the SEC website.
Very good post. It's what I've been trying to convey for the last couple days but some still don't seem to understand.
SEC response times to the registration statement vary depending on a number of factors including the complexity of the specific filing and state of the market at the time of the filing, among other factors. However, the SEC has reported that its goal is to respond to the initial Registration Statement within 4 weeks.
This can be a lengthy process which can continue until the SEC is satisfied that its disclosure requirements are fulfilled.
It also means that the S-1 can't happen (at this time or in the next few months), because it was dependent on the uplisting (as stated in the S-1).
I’m fairly confident you know nothing about the salmon industry, GMO or otherwise
Remember, as I’ve often heard around here , that this is a process thousands of years old....you would just assume the genius would have anticipated the red tape from the beginning
Kim's plan was to reverse split, uplist, and then S-1. That is plainly evident by the documentation that has been filed by KBLB.
That also means that the S-1 is now kaput as well (since the S-1 is tied directly to the uplisting.
I’m fairly confident in saying if this was a viable product, even I could have brought it to mass production by now
It is completely correct.
Reread my post.
The S-1 is dependent on uplisting to the NASDAQ (which in turn is dependent on the reverse split).
Therefore, if the reverse split expires, then the uplist and S-1 will "expire" as well (at least for the near future).
Haha. Wow. Good find.
Looks like that amendment was made public about an hour ago on the WYO Secretary of State office website. But it was filed 3 days ago, so it wasn't any reaction to today.
But, yes, you are right. It looks like they are rescinding the 40-1 R/S amendment so it is not happening.
This is too wild
Still looks to me like a 40-1 reverse split by Wednesday. Window to uplist by then is almost shut down, though he could still uplist Thursday or later as that vote was only advisory.
The fact that KBLB has not made plans for annual shareholder meeting by July 23 is also telling. NASDAQ will not be happy if we don’t have an annual shareholders meeting every year.
I recently speculated that KBLB might finalize their S-1 and announce the reverse split today. Neither happened.
Well done
...You are absolutely right when you say:
I think they need $24M exactly for what they have planned.
Why in the world is the share price on the rise?
That is false
I don't think anyone will believe it.
Even in the exact addendum it says this right in the beginning...
In exchange for Mr. Thompson's entering into this addendum and surrendering the rights contained in former sections 2 and 3, the Company shall use its best reasonable efforts Lo issue to Mr. Thompson, within 12 months from the cafe of this agreement, 200,000 shares of the Company's preferred stock, Said stock shall have no preference for the payment of dividends, and may be issued without any right to recieve any dividend. The preferred shares will however have super voting rights equivalent to 100 votes of Class A Common shares per share of preferred, such that the total issuance of preferred shares to Mr. Thompson shall have the voting power of 20,000,000 Class A shares.
2. Royalties. The Corporation further agrees that Mr. Thompson shall receive from the Corporation, its licensees, subsidiaries, successors and assigns, royalties on all products employing certain aspects of the Technology, Specifically Corporation grants and guarantees Mr. Thompson the following royalty payments:
a. A 1.65 % royalty on al/ use or gross solos of products that are composed of a protein fiber where one or more protein constituents of the fiber are endogenous to 2ornbyx, and one or more are exogenous to Bombyx, or where two or more proteins which are not found together in silk fibers in nature, are expressed in Bombyx to create a new silk fiber. With the exception that no royalty under this provision shall be owing in the event that said silk fiber is composed entirely of synthetic proteins that do not occur in nature. Said royalty is payable within 60 days of each financial quarter.
b. A 1.65 % royalty on alt use or gross sales of products that are composed of a protein fiber where one or more protein constituents of the fiber are exogenous to Bombyx, and where erre or more of said exogenous protein(s) is not a synthetic protein that is not found in nature, or is not a protein(s) that is found in spiders. Said royalty is payable within 60 days of each financial quarter.
c. A 0.85 % royalty on all use or gross sales of products that are composed of a protein fiber which is produced in or from the silk glands of 8ornbyx, through the use of genetic engineering or DNA manipulation, or RNA manipulation, or induced mutation, or the interdiction of genetic sequences which are foreign to Bombyx. Said royalty is payable within 60 days of each financial quarter.
For purposes of this section it is understood that silk is a protein fiber.
The maximum total royalty due under this Section 2 shall be 1 .75%.
In the event of Mr. Thompson's death, the royalty payments will continue to Mr. Thompson's designee, as he may hereafter appoint. The Company's obligation to pay royalties to Ivir. Thompson or his designee on each of the products shall be in force from the date of this agreement and shall remain in effect on each of the product as described above until the longer of (I) expiration of the last-to-expire patent, held or licensed by the Company on such a product or its method of creation or on the transgenic organism which expresses the product or its protein component(s) or (ii) eighteen years from the date of the first commercial sale of such a product which is covered by this Agreement. In no event shall royalties be owed under this paragraph after twenty seven years from the dale of this agreement.
3. Exclusive license for non protective apparel. The Corporation further agrees that Mr. Thompson shalt receive from the Corporation an exclusive license on all non-protective apparel applications of the company's products and technology. Pursuant to said license, Mr. Thompson will have exclusive rights to sea, make, or have made, non-protective apparel which uses the Company's technology or products worldwide. Non-protective apparel, as used herein, refers to articles of clothing or decoration which are sold primarily to markets and customers who are not purchasing the products primarily for protective purposes. Use of the Company's technology to make shirts, pants, kimonos, undergarments, dresses, business suits, and curtains are all examples of non-protective apparel. Sporting goods and sporting protective apparel are excluded from the definition of non-protective apparel. Shirts with moisture wicking properties sold to runners is for example excluded, but shirts sold with a sports brand logo, but used primarily as an article of casual apparel is included as non-protective apparel within the meaning of this article.
The party's anticipate that Mr. Thompson will assign these rights to a corporation to be formed and referred to herein as "New Company" The Company will receive 24% of the founder's equity in "New Company, and Mr. Thompson will receive 76% of the founder's equity.' "New Company" will be responsible to pay any royalties an its sales that Company would otherwise be obligated to pay. In the event that Mr. Thompson so elects, he may exclude the Company from equity participation in New Company and otherwise retains the rights described in this provision, provided that he will pay the Company a 4% royalty on all of his use or gross sales of the products described in this numbered paragraph 3. Otherwise, Mr. Thompson may elect to relinquish all such rights to the Corporation, in exchange for a 7% royalty on all use or gross sales of the products described in this numbered paragraph 3, or 45% of the net proceeds thereof, whichever is greater.
It wouldn't have been included if it wasn't pertinent. And there is no other document listed in the S-1 that supercedes it.
NOTE 9 RELATED PARTY TRANSACTIONS
On December 26, 2006, the Company entered into an addendum to the intellectual property transfer agreement with Mr. Thompson, its CEO. Pursuant to the addendum, the Company agreed to issue either 200,000 preferred shares with the following preferences; no dividends and voting rights equal to 100 common shares per share of preferred stock or the payment of $120,000, the officer agreed to terminate the royalty payments due under the agreement and give title to the exclusive license for the non-protective apparel use of the intellectual property to the Company.
Please do DD.
The drugs in question, therapeutic mAbs (aka monoclonal antibodies), are used in the treatment of human diseases including cancer. They are commonly produced in large bioreactors using cultured cells from mammals. But this process is extremely expensive, which in turn raises the cost for customers who may desperately need the drugs.
IMO, unless I see clearer proof it is $3 for 5 consecutive days closings above.
Thank you for posting the whole rule but, I've read that dozens of times over the years. It says it right in there.
Lets start with the first line of Rule 5505:
A Company applying to list its Primary Equity Security on the Capital Market must meet all of the requirements set forth in Rule 5505 (a) and at least one of the Standards in Rule 5505 (b).
current publicly traded Companies must meet this requirement and the price requirement for 90 consecutive trading days prior to applying for listing if qualifying to list only under the Market Value of Listed Securities Standard
I doubt that based on the way it’s written. I do see how we could qualify for $3 though now. ... Fact is the Kim said at the ASM he thought it would be at the $4 requirement.
* Currently traded companies qualifying solely under the Market Value Standard must meet the $50 million Market Value of Listed Securities and the applicable bid price requirement for 90 consecutive trading days before applying.
*** To qualify under the closing price alternative, a company must have: (i) average annual revenues of $6 million for three years, or (ii) net tangible assets of $5 million, or (iii) net tangible assets of $2 million and a 3 year operating history, in addition to satisfying the other financial and liquidity requirements listed above.
You are correct. It would be $2 for 5 days. Other previous posts suggested $2 for 90 days. That was what I was contending.
Thanks