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It’s just Kim being his usual idiot self. This is why he has no business being CEO. He’s like a robot pretending to pass for human.
It’s not just the time that’s an issue. It’s the money wasted /lost, it’s the current lack of cash needed to spend , and and the small window they apparently had. Who knows what daisy chain of events this creates for them.
You said : “ IF THIS ISN'T PROOF, THEN I DON'T KNOW WHAT IS.”
Correct. You clearly don’t.
I disagree slightly. The business plan has suffered a good setback and timing can be everything. We don’t know if or how bad this screws up his financing plans. Could prove to be costly but we may never know. Kim himself had said he was nervous because he had a very small window to thread the needle and get this uplist /financing done right. So how can you say nothing to see here? I think his business plan has to be shaken up. Time will tell but I fully expect some serious dilution to come.
Well I was being a tad facetious. I agree with your alternative scenarios. Arrogance sounds spot on to me. Kim always thinks he alone can “do it”. I’m sure he also felt the pressure of running out of money combined with partners losing patience.
I trade kblb often and based on the chart trend. I don’t just hold shares for the sake of holding. Has nothing to do with my long term outlook. I still think 2020 could be great but it looks like it’ll be in the second half if it is. This looks like a 6 month setback. Then there is the funding situation.
I bought a bunch at a dime here. Doesn’t mean I am a “believer”. Just means I think it could trend back up. Not always right. It could drop to 7 or 5 cents. So I keep my powder dry “in case”.
This was a great week of price action. The worst weeks are when it’s floating sideways. Can’t do nothing with those.
Lol there’s no rabbit or magic involved. More dilution to come.
Yeah they left that little part out of the letter so let me add it :
“ errr...duh....we uh are flat broke and very desperate and so yeah we’re going to be further diluting existing shareholders so thanks being our piggy bank, suckers”
I couldn’t have said it better. Kim “the methodical planner” now basically says they hadn’t adequately planned for the worm’s food and shelter ? Wow. “We only get one shot at getting this right” Kim had said. Yeah well then you really blew it. I cannot imagine partners and customers continuously putting up with this. This is why the army walked away. They saw the sheet show first hand.
I got more bids in at 8 and 7 just the same ;)
I do agree it’s an overreaction but people do trade on emotion. I picked some 9s up but I wouldn’t be surprised to see it drop to 7 or 8.
“ I am a strong believer in this technology and Kblb will succeed”
So kblb will succeed by just pure act of will and belief ? I didn’t realize this was a faith-based religious investment.
Relatively inexpensive to insulate a shed like that. Did they do it ? I don’t know. If they didn’t then just WOW. Further incompetence.
Could’ve been a virus that wiped out the worms. Kim , as usual , was too vague.
Wow, to think this may get back to a nickel...
Kim really blew it.
Not looking good here before the open. Touch .07 to 8 cents today ?
He’s going to remind you to “know what you own” lol
The way I see it, the setback is somewhere around 6
months but also, it begs the question of finances. The company has no money and yet has to fund operations. There’s not going to be a savior now in light that the company just fell on its face at the starting line the moment the gun went off. The company is now desperate. Dilution is unavoidable. Shareholders are in for a rough year I’m afraid.
No jail, worst case a fine or a lawsuit. And that’s remote. And he’s always done more than enough to stay out of jail. He’s not stupid. And to be real, there are thousands of scam pink and OTC companies and how many of those actually ever see the inside of a jail cell ? I would imagine a very small percentage, even for the ones proven guilty.
KBLB is not a scam and Kim is not on anyone’s radar for something like that. Being an idiot and incompetent is not a crime. At best , it’s a civil lawsuit. The system is a joke ; and that’s why Wall Street operates like it has immunity , it basically does. They have no fear of the SEC.
My point is jail is not a real threat Kim is concerned about.
Good post and I mostly agree. Especially in regards to share price and market value. I also actually gave Kim credit for releasing this bad news; out of character for him.
Where I disagree is I still blame Kim for the following. In all these years he’s had to prepare for mass producing silkworms , he didn’t learn , as an example , that his steel building needs to be well insulated ? He didn’t bother to learn that a 5 degree variance makes a huge difference in the quality of silk ? He’s had all the time in the world to prepare for this moment. He himself said he’s only got one shot at doing it right. And so he has to make sure he’s ready. Well then he should have been prepared for all these factors you mentioned and then some. This was his big moment and he blew it. Does he get another shot ? Yes, because he can simply dilute for more financing again. Unfortunately for bag holders, this means a lot more short term pain coming.
I agree investors deserve to know but we’re dealing with CEO Kim here. He has proven he doesn’t feel obligated to keep investors informed. Remember, this is the guy that didn’t update investors for TWO YEARS when Lam Dung failed and left them thinking he was warehousing silk.
I’m absolutely shocked that we got this update frankly. It’s the first bad news PR I can think of that he allowed out. I think it only happened because he’s now got a select group demanding updates. In other words , he didn’t do it for us but for whomever wants to finance his operation, and maybe a demanding customer. Maybe he did it to placate the yet to be seated board as well. He’s probably looking at least one board member thinking of walking away. He may find he’s got to go through the process of picking another board as well.
Shareholders can demand all they want but truth is the shareholders don’t matter and are only Knats buzzing around him. He’s like a dictator; cannot be voted out.
Yep. That’s why I said uplist is off the table for spring. You’d think he’d address the r/s but since he didn’t one wonders if he plans on r/s anyway. It has an expiration date of June or July I think. May that doesn’t really matter though because he can always hold another fake shareholder vote where “shareholders” re-authorize. I say fake because he holds all the votes that matter. No one else’s vote makes any difference.
I give credit to them for not waiting two years to share the bad news like they did between 2013 and 2015. Now we know why they never seated the board. Uplist is dead for the foreseeable future and so is the board probably. I wouldn’t be surprised to see some board members back out.
Easy money today for those not afraid to flip.
Yep, they blew it. Rushing to uplist meant rushing the prep. Back to the drawing board. They won’t be uplisting in 2020. May still r/s though lol.
Hey Kim , where’s all this money coming from ?
New chant of kblb : We still can’t bear fruit , so we must dilute ! lmao
From the “new” website:
“Discover why Monster Silk™and Dragon Silk™ could be 2018’s Hot Commodity”
You can repackage and put a different color bow on a commode but guess what’? It’s still a commode.
Kblb , you’ve come a long way. All the way back to 9 cents lmao
It’s going to be fun to watch the carnage today. So Kim Thompson sees it fit to release bad news when the stock price is already at basically a year low. Gee , it’s almost as if he wants the share price beaten down. Now I wonder why that could be ...
lmao. I like what u did there.
Doesn’t look like CEO Kim sent any PR email out to its shareholders. Does he think his shareholders are that stupid that they won’t see the PR ? Or is just more incompetence and not paying attention to details?
Kim now desperately needs at least a bridge loan or something to keep the lights on. Dilution is coming. Dilution is coming.
Yeah this setback is bigger than some want to believe. Throws the whole uplist out of whack and the situation becomes more desperate as it takes MONEY to fix problems and they have NONE.
One thing is for sure, trading should prove interesting the next few weeks. This could either trade sideways , stuck between 12 and 15 cents , or it could nosedive to 7 , 8 cents. Let the fun begin ;)
For those who just spoke with IR guru Ben recently , did he tell you just before the PR how wonderful everything was, per usual ? Lol
Well look at the bright side folks. At least CEO Kim didn’t wait two years this time to tell you there are no metric tons being stored lol.
Jon probably convinced him to give the shareholders the bad news. This is not like Kim to give us a bad news PR.
Of course , Kim could have taken the opportunity to take the R/S off the table since it’s not very likely there will be an uplist this spring now. Nope, since he didn’t bother to take the R/S off the table , you can expect the SP to drop to a dime. Way to go Kim! lmao. I’m paraphrasing here but the pr read like “ uh , even though the Asian countries have been harvesting silk for thousands of years , we thought we knew better and could produce it out of season” . Lol so dumb.
I didn’t say he doesn’t respond. He ALWAYS responds. It’s just that he doesn’t have anything to say except duh duh duh. He doesn’t know anything. Waste of one’s time to speak to him
Ha. That’s a good one. A response from Ben? Lmao. He’s more clueless than shareholders
I’ve always suspected Kim wants to take the company private. Over a decade now, he’s demonstrated disdain and contempt for his loyal shareholders. I think he can’t wait to be rid of them and will do so when the best opportunity presents himself.