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An announced $250K is unaccounted for? Sounds like a material event to me. That would leave Kim in violation for not PR-ing the event. Belittling or dismissing the issue doesn’t make it go away. There’s just no world in which $250K is chump change (that’s a LOTTA burgers) to a tiny silk company that has never sold an ounce of silk. Further, it’s dilution - at the expense of shareholders - keeping the company afloat so poo-pooing $250K in announced revenue - cash that WASN’T sucked from shareholder value - is more a rationalization to reduce the obvious black-eye embarrassment to KBLB than it is derived from common sense. There’s no world where $250K can be construed as chump change to a small company with zero revenues, whether it’s part of a $40 million contract or a $3 million contract for that matter - especially when the company hasn’t earned one red cent from said contract. To date, all arguments posted regarding the missing $250K payment as chump change or otherwise have been laughable. Even if $250K wouldn’t fund operations for very long the fact is that, without explanation, the $250K never materialized, most likely because there was no viable silk produced or delivered or perhaps it was just a flat out lie. While we don’t know the answer/reason for sure, you can bet your bottom dollar that if the truth about the matter came out it wouldn’t bode well for KBLB and that’s likely why we haven’t been informed.
Such faith being put into a business license and the Lam Dong locale. To believe KBLB’s contractors will successfully produce there, one has to believe the worms will be genetically capable of such. I don’t believe KBLB has such worms. Given KBLB’s track record, they don’t get the benefit of the doubt - they’re guilty until proven innocent and such innocence comes only from a quarterly report showing revenue derived from commercial quantities of viable tested silk sold and delivered to a customer. Has anything come out of Lam Dong yet? Will anything viable come out of Lam Dong? Time will tell because right now KBLB’s got nothing to show for any production that’s taken place, anywhere, Lam Dong or otherwise. Wake me up when revenue shows up on a quarterly. Have a good night.
If you believe “time has told” you’ve likely taken your eye off of the prize, notably the ONLY thing that could save KBLB - revenue derived from commercial quantities of tested, viable silk. On that front the clock is still ticking with little more than nine months to go and four quarterly reports. If Lam Dong has anything to do with saving KBLB, God bless ‘em. Time WILL tell (PRs and conforming Q reports) not speculations made on this board by me or anyone else.
I wouldn’t get caught up in that narrative. Far east governments are notoriously corrupt and are for the most part about as trustworthy as, well, Kim. The about face could just as easily have been a greased palm as a try harder attempt on KBLB’s part.
Ok, yes. Maybe they simply told or showed Lam Dong what Lam Dong needed to hear or see. The result is the same. Time will tell - with each passing quarter.
Nobody can say for sure. Maybe Kim greased a palm (corruption is not unheard of in the far east). Maybe Lam Dong wanted another employer in its midst to increase its tax base. Maybe getting a business license or a mysterious new contractor or a Dorton were the steps needed to achieve greatness, or maybe they’re all relatively inexpensive window dressing to keep investors on the hook through the next phase of dilution. Time will tell because Kim won’t.
“KBLB is the only company doing what they're doing.” Do you mean not producing as they claim and intentionally misleading investors? True, there aren’t may companies doing that.
“That makes them experts in their field by default.” Experts at deceiving investors? Not a good look.
“As disappointing as that may be for some.” Yes. It’s very disappointing and that disappointment grows with every passing quarter.
Once again, opinions expressed here have little to nothing to do with KBLB’s success or failure - or its share price. Nothing one can say here will impact whether or not KBLB can produce what they claim. That’s all on Kim, “the science” and the execution of its own activities and those of its contractors. If KBLB delivers one tenth of what Kim’s promised (or suggested or implied), the company will be bought out by a larger concern. KBLB’s dismal share price performance has everything to do with the company’s dismal execution to date and its ongoing deceptive practices - it wasn’t just dilution selling. Ironically it’s those very same deceptive practices keeping the public in the dark that may be keeping the share price as high as it is. If anyone needs to do DD on KBLB, they’re advised to focus on the PRs, the profligate failures and zero quarterly reports to see why this company, “on the precipice of greatness”, sits at three and a half cents.
Why make a Lame Dung t-shirt for $20 when you can have 571 shares of KBLB instead?
People talk about KBLB tech being valuable, but it’s only valuable to the extent it can be commercialized - repeatedly, reliably and consistently - and generate revenue. That hasn’t happened to date, so I agree with you in spirit. I wonder, though, if KBLB could reliably produce good silk at small quantities that weren’t profitable (for KBLB) I’d still have to believe that Kim would know that even such low levels of production would make a good case for a buyout by a larger concern. Still, that hasn’t happened either.
“Every fail makes the path to success that much better.”
That would make sense if one were to believe that “success” for Kim is producing mass quantities of viable, tested, spider-ish silk. That success may have been the goal from the start, but somewhere along the way I feel that Kim realized it ain’t gonna happen and his “success” changed from silk production to keeping his job long enough to retire comfortably, a task it looks like he’ll readily achieve - even if the stock ultimately goes to zero.
Exposing Kim for who and what he is (and his despicable MO) - neither helps nor hurts the investment to any significant degree. KBLB will live or die based on whether or not it produces commercial quantities of viable tested silk, not whether or not people make disparaging remarks about Kim and KBLB.
Not that I know of. Then again, why put “faith”, in a CEO who has engendered so little of it?
The phrase wasn’t meant to be unkind but rather to make even the most optimistic think rationally about what time frame is acceptable to wait before considering that it’s not gonna happen. It’s also an important point to be addressed by anyone interested in buying KBLB shares given that so much time has passed without revenue whether one’s starting point is 14 years ago, nine years ago, October 2020 or 12/2022. If 2023 passes without revenue, it’s safe to say the dilution solution will rear its ugly head, and if that happens, who’ll still “have faith” in Kim?
I agree in that it’s all just “wait and see”, but in a reply to EOT a few moments ago I asked just how long it makes sense to wait before “calling it”. Kim bought himself a year (with some) via statements made in the Christmas letter - more time than some felt was needed to achieve tonnage of tested, viable silk - but if yet another year passes without revenue, when does it become obvious that the wait has to end? Some here believe, “as long as it takes”, while others are more pragmatic. What’s your time frame?
NDAs are a convenient means to explain away Kim’s silence on the only important metric, production quantities of tested, viable silk. The NDA is essentially a gag order on those with whom KBLB does business, but it does not necessarily “…pretty much covers all sides”. Why would KBLB gag themselves? Since we don’t know whether or not any NDAs exist, or if KBLB has subjected itself to such, it’s all speculation. Nevertheless, I think it’s more logical that KBLB has clammed up about production because they have nothing nice to say than they’re silent because they’ve gagged themselves.
“…as the Chinese haven't reported anything on their SS progress. Why don't they keep us informed on their SS development?”
Because (like KBLB) they haven’t cracked the code yet either. If they had, it’d likely be for sale or at least known to the military community which is often fairy current on the activities of their international counterparts. As for keeping us apprised of their SS development, they’re the world’s most powerful communist government which happens to control its private industry (just ask Jack Ma) so they’re not going to tell anything to anyone for a wide variety of reasons. Kim doesn’t tell anything to anyone because…. We can’t know for sure why Kim does what he does. All we can do is speculate as to what his motives are.
KBLB boosters argue that actual production of a tested and viable spider-ish silk in commercial quantities doesn’t constitute a material event and thus doesn’t have to be reported. The issue here is that not reporting quantities produced (including whether or not such silk was tested and viable) could mean that they’re intentionally withholding such information - legally - or that they simply have produced so little of it that it cannot be mentioned without harming the pps further.
Of COURSE it’s intentional. Spot on.
Intentionally vague. Intentionally misleading. Intentionally nebulous. Intentionally non-committal.
“And the sad part is that all of that could be fixed with clear, honest communication from Kim and Jon.”
Ironically, by being vague, misleading, etc. they’re actually bolstering the share price because if the public knew as fact what the use of intentionally deceptive language implies, more would sell and the share price would drop further. So let’s all raise a glass to Kim and company for keeping the share price as high as it is.
“I say again that KBLB will not do the great reveal until production is at hand.”
The only reveal I see happening is pulling back the curtain on Oz to find there’s nothing there but a mere shell of a man who’s played everyone for well over decade. Anyone expecting something more than that is likely to be sorely disappointed as each successive quarter will likely be the same as quarters past. As such, by this time next year the Dilution Solution will rear its ugly head and jow will stand by KBLB then?
The Spydasilk debacle is the single most damning sign - since the army fiasco - that KBLB is not an investable stock. I guess one could gamble on it, but not invest in it. An investment generally has the expectation of a reasonable return within a reasonable time frame and KBLB is damningly absent on both fronts - OTC as it is.
The story continues…
"The wiser among the onlookers..."
sold most or all of their shares, a few retained some FOMO for an unlikely “just in case”, as even a broken clock shows accurate time twice per day upon its face.
The problem with the King, unlike the broken clock, is he’s not been accurate once, with PR’s doth he mock.
His holiday message was read, “That’ll keep ‘em on the hook”,
for another year he’d rob them
just like a common crook.
But they’d know not his cruel MO, because he keeps them in the dark. Each day they’d heap upon him praise not seeing they’re just his mark.
Still the serfs would till the fields, pay their tax and toil for their king, while he’d just reap rewards providing them hardly anything.
The deceitful King continued to “produce” or so his subjects thought, but an attempt not made in earnest will almost always result in naught.
With a silver tongue he’d lead them. Foul words upon the air,
but quarter to quarter to quarter promised nothing but despair.
Many thought to leave their land but had invested far too much, hoping still the king would bestow on them a saving Midas touch. To date the touch evades him, though he’s made for himself quite a life, at the expense of his serfs and subjects who’ve known nothing but the strife. Other lands are far more fertile with more kindly benevolent kings, but to those drunk on hopium, those are not important things.
Though this tale is not yet over there is something to be learned: buying shares of a three cent stock will likely get you burned - DON’T DO IT!
The End? Coming soon… Maybe. Stay tuned for the next chapter, “His Dilution Solution”.
That’s quite a fairytale. A more likely version hews closer to the original in that Kim would walk around seemingly without any clothes on because Dorton wasn’t given enough silk to make any clothing in the first place. A few of Kim’s most loyal subjects thought it was the sheerness of Kim’s spider silk garments that allowed them to see his naked body. What untold strength these fibers must have to be so sheer yet clothe our king! “When can we get our hands on some of this wondrous material?!?” the masses cried out. “Soon”, was the reply. “Soon”. The masses rejoiced, saying, “we’ve heard that before but we still believe you”. The wiser among the onlookers rolled their eyes saying, “not again”, as they collectively smacked their foreheads in disbelief. The End?
“Now we have production….So every one of those partners have likely received enough Spider Silk for product development by now. Why wouldn’t they?”
Why wouldn’t they? Because Spydasilk - KBLB’s biggest “partner” - supposedly received enough to start up well over a year ago but we know that’s not true because after all this time there is STILL no Spydasilk, so why believe any of the other “partners” received enough silk to do anything? Because Kim says so? No.
I often thought of that as it would explain some of the ridiculous pie-in-the-sky claims about KBLB’s production and prospects. That said, there’s no evidence for it and more importantly, I don’t think any cheerleading from a KBLB employee would happen without serious risk of future legal action for “pumping” in the perpetual absence of revenue. The digital paper trail would be too damning. Alternatively, a KBLB employee could be (and likely is) monitoring the board without interjecting one way or the other. Regardless of what the actual truth is, there’s no amount of digital jockeying from anyone that’s gonna help Kim produce substantive quantities of quality tested spider-ish silk from operations so this is yet another moot topic.
“My current opinion is staff leave as they realize it’s a sham. This is not advertised. New hires are advertised, giving the appearance of an ever growing company. Meanwhile it’s a cover for a shell printing ever devalued shared.”
I agree. Absent any evidence one way or the other, the turnover could just as easily be low pay as leaving due to the potential scam aspect, but you’d think the turnover would make Kim offer higher salaries to prevent these key employees from leaving. More importantly though, if the company is truly on the verge of a breakthrough - which could add substantial scientific clout to their resumes - higher pay wouldn’t likely lure these workers away and that is why I’m leaning more to the pessimistic cause of their departure.
KBLB reminds me of “The Matrix”.
A future robotic race enslaves humanity using their bodies as human batteries to keep themselves juiced up and does so by plugging people into a computer generated false reality where they perceive a pleasant world with a bright future until they’ve been used up and are converted into a protein-rich soup to feed to the next unwitting generation of batteries. Realizing the tolerance of his shenanigans has grown thin, Kim wisely bought himself twelve months (instead of the usual quarter or two) after the failure of last year’s latest “attempt at production”. At the end of this year, if revenue fails to appear as I believe will be the case, how many batteries will remain? Will the specter of yet another round of the dilution solution be enough to convince the few remaining to “unplug” and get back to reality? Time will tell because Kim won’t. Less than ten months to go before we see how this plays out.
Perhaps a little premature on the “congrats”. I’m long on Tesla for several years now and continue to buy on the dips, one of which was conveniently provided by a less than stellar Investor Day.
It’s beginning to appear that way, though it could be argued that KBLB needs more time to produce a quality tested silk in sufficient quantities before “calling it”. How much time one is willing to give varies from “none” to December 31st to an incredulous, “however long it takes”.
“The point being made is it's my opinion the contractor is covered whether quality spider silk is produced or not.”
Yeah, just like Kim gets paid regardless of whether or not there’s any quality silk produced. That he is seemingly overpaid is another matter entirely.
It’d be nice if his pay was tied to performance but given that KBLB is still pre-revenue, he understandably couldn’t and wouldn’t agree to that.
“Either way they most likely are covered whether quality spider silk is produced or not.”
Just like Kim.
“6 years ago, and the source was Ben (the $400).”
Thank you for that. I won’t quote that $5K number anymore, though I saw it so many times in the past I’m shocked it wasn’t noted by others more recently. We all make mistakes, and it’s healthy to admit them.
I didn’t start the $5000 number. That’s the figure quoted numerous times by several other posters on this board over the years. I never looked into it and have no idea of the actual PR cost for KBLB but never had any reason to question the number because nobody else ever questioned it and if there was ever a place where someone would call BS on any given point, it’s here but nobody ever did, until today. Why is that? I don’t know. If someone knows the actual number, I’m sure we’d all like to know.
If you’re cheekily referring to me, I don’t know what it costs Kim to issue a PR but the $5K number was out there as the figure quoted by others on this board for years. If anyone is aware of the actual cost paid by Kim, I’d like to know it and will always admit when and if I’m wrong. Regardless, if you’re inferring the PR cost was $400, let me know where that number came from. Today’s PR wasn’t worth forty bucks so even $400 would’ve been too much. What it implied (to me) was that there might not be anything more newsworthy going on and that’s not very inspiring, but who knows at this point.
“…shows that they are either digging deep for anything to PR, or they are hopelessly disconnected from what their shareholders want to hear.”
They know what we want to hear but cannot provide that information with a straight face so it remains unsaid which is why “they have to dig deep for anything to PR”. Also of concern is the reason their scientific staff turns over so much. I don’t know the reason, but if KBLB is on the verge of a breakthrough (or already broke through and is actively scaling up) one would think the staff wouldn’t leave.
There’s no impasse. Going back to your original post reveals the verifiably false statement, the weak analogy and the character-revealing lack of owning up to one’s own error. Weak sauce.
Should I spend $5K PR-ing my help wanted ad in the Pennysaver? I require a canine perambulatory technician as well as a Landscaping aesthetician.
Does it make sense for KBLB to pay five grand to reveal a help wanted ad? Maybe? Perhaps if it aids in getting a new hire. Or is this just window dressing? I don’t know. We’ll see how it all pans out in the next ten months.
Lotsa words, but nothing of substance said. Where’s the admission that your statement regarding Tesla’s profits only coming from regulatory credit sales was patently false since Tesla has been profitably selling cars since 2021? It seems silly to have to bring up Tesla on a KBLB board but the Tesla profitability analogy used made no sense in the context of KBLB which was already thoroughly explained to you so I won’t waste words explaining it again. If one doesn’t realize the above, there’s nothing more to be said. Character counts.
Ridiculous. C’mon. Let’s at least make sense.
Tesla was producing and selling cars within six years of the company’s formation, but you didn’t mention that. Instead, an incongruous stat was selected that would hopefully fit the narrative. “See, it took Tesla 18 years to become profitable” - laughable - as if that would somehow absolve or justify KBLB’s 14+ years of producing nothing that generated one thin dime of revenue from sales. Obviously KBLB doesn’t need to be profitable to achieve success, they just need to produce spider-ish silk that’s tested and sold so KBLB receives revenue, demonstrating that this thing can work. To date, KBLB hasn’t done that.
“if they would just deliver some damn Spidersilk.”
I think the implication was, “If they would just deliver enough silk (viable, tested silk) to launch Spydasilk”… so they could then generate some revenue for KBLB, yadda, yadda, yadda.