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My estimate is based on two generations of hybrids (from quad to dual, 45 days, and from dual to single, 45 days) followed by a single round of production (32 days) starting at the beginning of February of next year.
It’s a back-of-the envelope calculation and is intended as an approximation, but useful in me setting expectations for KBLB.
I’m not sure where you got your data but I am certain it is either wrong or not what you think it means. Might provide a source?
Jetow: “I believe he realizes it's about to be the big bounce and he's getting frantic. His day is past!”
Well, his day doesn’t seem to be passed today. Probably not tomorrow either. But soon, right. We all understand his day will be past … soon.
More vague promises. Do you understand how long we have all been hearing this same tune? Your song has played so many times, the needle has cut all the way through the record.
I’m not convinced by this lazy excuse for a reasoned argument. But I understand how hard it is to convince others about the strength of your hand when you don’t even have a pair of deuces.
What I’m seeing is:
Share price in the low 3 cent range and dropping slowly;
No production;
No sales;
No revenue;
Sporadic and vague information being released about the quad-line hybrids;
No increase in silk inventory;
No updates to partnership with Kings;
Sporadic and vague information about production problems.
I don’t even know what the share price did today. Haven’t checked. Even if it makes a positive bounce and that formed an amazing almost-never-seen triple golden cross, I expect a slow slide until solid news arrives. But I can’t rule out a catastrophic slide, either.
I doubt we will have solid news about production until early June, 2024. But hopefully we will get more updates about progress towards a restart and the early phases of the actual restart.
Efforts to portray KBLB in a positive light at this point have taken on an almost tragi-comedic flavor. Information is twisted around in unrecognizable ways and always topped off with a dash of ‘soon.’
I’m sorry if my one-or-two posts each day is too much for you to handle. Please feel free to print out the fantasies that appear in numerous posts each day and paste them into your scrapbook. Use a big font, too. Then you can comfort yourself with happy thoughts. May not hurt to put me on ‘ignore’ if my posts make you too uncomfortable.
Best wishes for a magical day.
But I want to believe in Santa Claus and the Tooth Fairy, so they must be real. All of these skeptics make me want to stamp my foot. How dare you threaten my fantasy world?
/s in case anyone wasn’t sure.
You are right. The experts are needed at the source of the problems: Right in the US facility where the problems originate.
If KBLB keeps sending sickly and vulnerable silkworms to Vietnam, Prodigy won’t have a chance.
There is no mention of Prodigy in the PR, but some discussion of the lab. As far as we know, Prodigy is shut down right now and there would be nothing for them to do there but wait.
It makes no sense to assume these experts are a part of the Prodigy staff. They should be included in the US budget.
If these investors are getting cues from Yorkville, who is getting information from KBLB that has not been made available to everyone via a PR, then they are trading on insider information. That is illegal. Ask Martha Stewart.
KBLB’s own SEC filings make it clear that no one is authorized to provide information to investors outside of what the company has made public through its own channels.
If information ever comes to light that these investors have been trading on insider information, they can be arrested and put into jail. Their jeopardy extends into the future, not just the present moment. Ask Martha Stewart.
Yorkville certainly vets the companies they decide to provide financing to and the pool of investors that Yorkville offers shares to understands that. If Yorkville remains in contact with KBLB management about the status of the company, one would certainly question why. Their financing relationship has been concluded.
As time passes, the investors who purchased from Yorkville have to be looking at what KBLB is doing … and what they are not doing. They are not producing, they have no revenues, they are working towards yet another restart of production that may or may not be successful, and they are not holding annual shareholder meetings.
I can’t believe these people are happy at their paper losses on the shares with no clear timeline for a production restart. They cannot be happy with the lack of information from KBLB.
Perhaps they will hold onto their shares in hopes of recouping their losses. But they may decide to dump, take the loss, and use it as a tax write off.
Time will tell, but the good guys are looking awful beat up right now. Deep down, I think a lot of people who appear so enthusiastic about this stock either understand these risks or are simply delusional.
Pick your category.
My 306 million came from the S1/A form filed on September 1st of this year. The annual report for 2022 lists the shares transferred to Yorkville by date. I could not find a total amount of shares issued and didn’t want to go to the hassle of adding up all of these individual transactions. There are more than 2 pages of them. Clearly Thompson could have reported the total but neglected to do so.
In any case, that was my reason for indicating I was uncertain that my figures were correct and thank WebSlinger for his providing accurate totals and share price.
WebSlinger is correct that the purchase price could differ from the market price by more (or less) than the contractual percentage. The contractual discount is based on something like “the average closing price for the past 5 days.” We all know that the average closing price can be manipulated by a small transaction just before closing time. To illustrate (please do not confuse this with an actual situation — I am only showing how the math works): Suppose the average sale price over a 5 day period is 10 cents/share and almost every transaction was within a penny of that price. However, just before closing on the first four of those 5 days, 100 shares were traded at a price of 5 cents and thus the average closing price was (5+5+5+5+10/5 =) 6 cents. Shares provided to Yorkville were based on that artificially low average closing price and thus were at a considerable discount over the average share price during that previous week.
I am providing this example in detail because the issue has been discussed before and it apparently wasn’t understood.
None of this changes the issue that the shareholders who purchased the issued shares from Yorkville don’t know any more about the company than we do, other than the fact that Yorkville was willing to make the offering.
WebSlinger’s data makes it clear that Yorkville investors are looking at a bunch of red. Most of the wealthy people I know are not particularly happy about losing money especially when the company provides few meaningful updates. Depending on how the broader market does by the end of the year, they might want to dump their shares to offset some of their gains with losses. I can’t imagine they are happy with Yorkville about the situation either. If a couple of them decide to unload 10’s of millions of shares each, the share price might well tank in late December.
It would certainly be nice to get some information from Thompson before that time.
Shareholder meetings are not being held. If you go to the office at the stated date and time, you will discover there is no meeting being held.
This was reported to me directly by Ben. It is further supported by the lack of any shareholder meeting reports that are required to be filed by the SEC.
KBLB is not holding shareholder meetings and this is in violation of SEC regulations and Wyoming business laws. If you are unhappy, WebSlinger’s advice about submitting a complaint to the SEC is useful.
Mojo: “i see kim making preparations for a company about to succeed....”
I question your confidence. Unfortunately his actions are ambiguous. He could be making preparations for a company on the brink of success, or he could be grabbing for a lifeline for a company on the brink of failure. The truth will only become apparent when we learn more.
Mojo: “the other thing ill add is that there are hundreds of millions of shares in the hands of wealthy investors due to the yorkville deal...”
Agree. As best I can quickly determine, it looks like KBLB transferred 306 million shares to Yorkville and received a little less than $8 million. If my arithmetic is correct, they paid about $0.0261 per share. If my numbers are accurate, these people are still in the black. (One complication is that the share price was decreasing over time. Shares were initially higher and then the price declined as funds were transferred. This is only an average for the whole pool, not what any one given shareholder paid.)
One investor has a > 5% share which was 60 million shares. The rest of the investors have less than a 5% stake in KBLB. That means they have less than about 55 million shares. Each 10 million share stake at 2.61 cents/share is $261K.
WebSlinger could probably produce far more accurate information. Their average investor cost/share is worth pinning down. If these well-heeled investors start to lose confidence and begin selling off their positions, the share price would probably drop quite quickly.
Mojo: “they quite likely know more than you or me...”
Disagree. If these investors know more than we do, they are trading illegally based on insider knowledge. Please forward your records of these crimes to the SEC right away. KBLB stated quite clearly in their SEC forms that no one had been authorized to disclose information beyond what was in the SEC filings. The only thing they know is that Yorkville was willing to provide this offering and they probably trust that Yorkville thought it was good for their investors, but they probably don’t know any more than that.
Mojo: “and they are not selling...”
Mostly agree. If 300+ million shares had been dumped onto the open market, the share price would be quite a bit lower than it is now. I agree with Mojo that very little of these shares have been sold on the open market. However, we know that the Aussie who bought 60 million shares was later reported as having 56 million shares, so he sold at least 4 million of his stake, an inconsequential reduction, but it speaks to his partial lack of confidence in KBLB.
KBLB iHUB: A titanic tug-of-war between promoters and critics, full of sound and fury, accompanied by a slumping share price, signifying Much Ado About Nothing.
A change in this Shakespearean forcast will only occur if KBLB provides sufficient information to convince investors the company’s fortunes have improved. Until then, let the Tempest in a teapot continue.
If it was as simple as temperature, KBLB would have been able to rear some silkworms early in the year. Thompson isn’t providing much detail about the specific production issues he is facing, but I suspect that disease may be a much bigger factor than temperature.
Another data point comes from Prodigy, which has air conditioning in their colony rooms. As far as we know, Prodigy has been shut down all year as well. This strengthens the case for silkworm diseases playing an important role in production issues. An air conditioner is not going to reduce disease pathogens, unfortunately.
I’m blaming that Golden Double-Cross we heard so much about before. Yep — we got double-crossed.
My original moniker was Pennies For Shares. Given that I bought some shares in Warren Buffet’s company from some of the profits I pulled out of KBLB a long time ago, my average share price is now 6.6 cents/share. DFS is an exaggeration, but I’m still at the Nickels For Shares level.
So far this month, my 403B has lost more than 50% of my investment in KBLB. Some good news would be appreciated even though it is not expected.
No doubt there will be an explanation about why opinions have become positive even though KBLB’s fundamentals (no sales, revenues, profits) and murky future (no ongoing efforts to produce silk in Vietnam) remain the same.
But I probably won’t believe them.
The DoD moves money around for emergency needs. It moves money around when Congress fails to pass appropriations bills. They would rather cut paychecks to soldiers than give a grant out for spider silk. Grants can wait, personnel need to be fed.
I don’t know what will happen, but I estimate the odds of Air Force funding for KBLB to be in the range of 10% to 20%. You clearly feel differently. We’ll find out some day who is right.
Rayo: “Research will go on for years to come.”
Only if KBLB doesn’t go belly up first. Right now, the odds look to be about 50/50.
Rayo : “Perfecting a science, preparing for AF/DoD funding, and production in the US.”
Instead of perfecting the science, I want KBLB to produce and sell silk. The Air Force will not give any signals to KBLB about their chances for funding before a decision is made. Right now, the DoD may be focused more on Ukraine and Israel and a fractured House Republican Party than spider silk.
You assume the production rate was 35% or so. But we have no idea what it really was. Maybe they only had a 10% survival rate. It was bad enough that KBLB shut down both. GSS and Prodigy for at least 10 months in 2023. That indicates the problem is big and serious, not a little tweak. And yes, I am looking to the future. June 2024, to be precise. Hope we get good news then, expect a rocky road for investors until that time.
Arachnodude, EoT, Bob, the list goes much further than that, but my point is amply documented.
You’re welcome.
Web, I don’t consider this merely a fluff PR. Why is KBLB hiring these new people? It’s not like they are flush with cash at the current moment.
To me, it speaks to an ongoing problem they are having in creating GMO silkworms that can be ramped up to commercial production. Thompson is all-but-admitting he can’t get his silkworms to produce DS without dying.
KBLB just can’t seem to find the right mix to create viable silkworms. They probably have until February to create the next generation quad silkworm hybrids and keep to my early June timeline. My suspicion: the timeline will get kicked back even later. But we won’t know for certain until we hear more from KBLB about their progress (or lack thereof).
Reciting facts about KBLB is considered “bashing.”
Who knew?
Should we call posts that endlessly describe a fact-free rainbow unicorn fantasy of the fantastic future of KBLB and the genius direction of Thompson — “pumping?”
Doesn’t quite have the right zing, but perhaps a better term can be found.
If you don’t like the message, shoot the messenger. Especially useful if the message is true and accurate.
Could it be that those who fiercely promote KBLB and attack those who share a more reality based view are shareholders who lost a lot of money by investing heavily when KBLB was higher priced and are now hoping to pump the stock back up to recover their losses?
Ouch!
From the December 2022 letter to shareholders:
“We remain confident that implementing these processes and technologies is the best path to successfully grow our production output to match the targeted metric ton per month levels we have contracted with them to produce by late 2023.…
“Work with our third-party contract manufacturer has identified opportunities and incentives to accelerate our multi-line hybrid production models. Ramp-up of this work is already underway in the Company’s US facilities, and we expect this will be ready for the transition to production in Q1 2023.
“The first phase of this program will be the transition to single-line cross-hybrids, which we developed in our labs over the last six months to boost resilience and environmental tolerance. Upon successful deployment, we will transition into the second phase of this program with the introduction of a multi-strain cross-mating program for all production operations. Our target is single strain hybrid rollout in Q1 and dual strains for the utilization of first-generation hybrids as early as Q2.”
Things get pretty murky here with KBLB’s fuzzy use of terms. In January of 2023, KBLB reported delivery of two parent strains on January 6. Is this the ‘single strain hybrid’ or the ‘dual strain’ version. My assumption is the latter, the single strain hybrid apparently evaporating and the dual strain version delivered a quarter early. Yay!
But then the dual-strain hybrid was never heard from again. The targeted ‘metric ton per month’ that was to be achieved ‘by late 2023’ has also evaporated.
When someone asks why KBLB investors expected production, sales, and revenue in 2023, we have a clear basis for those expectations.
The January 26, 2022 PR also contained the following information:
“As part of the Company’s ongoing development efforts to commercialize spider silk production, it is also developing a four-line hybrid-cross program that should further improve yields. This program is under development at the Company’s R&D headquarters located in the USA and is planned to begin rollout in stages later this year following the successful implementation of the two-line hybrid-cross model.”
KBLB did not explain what would happen following the unsuccessful implementation of the two-line hybrid-cross model, but they are reportedly at work on the quad-line hybrid-cross model. We cannot be certain when they will announce the rollout of this model but we haven’t received any updates as of today. I cannot tell if the quad-line model will require maintaining four lines of silkworms, breeding gen 1 crossbreeds from pairs of those lines, then breeding gen 1 from those parents for production OR the quad-line hybrids will be bred to produce stable two-line hybrid parents, which then can be bred for the gen 1 silkworms. Keeping 7 different lines of silkworms is a greater challenge than just keeping 3. But with KBLB, one seldom gets the full picture.
Did investors have every right to expect production, sales, and revenue in 2022? Yes. Jon’s quote at the beginning of the year was sufficient for that expectation. Did investors have every right to expect production, sales, and revenue in 2023? Yes.
If you are trying to understand why investors are disappointed, you don’t have to look any further than the failures to reach milestones promised in letters to shareholders and PR statements.
WebSlinger, thanks for the date and the full quote:
"Jan. 18, 2022 - 2022 is positioned to be a breakout year for the commercial sales of Dragon Silk and our broader recombinant spider silk technologies.”"
I suppose the question is: should investors have expected 2022 to be the year that KBLB had production, sales, and revenues given his statement.
To my way of thinking, that expectation was completely justified by his quote.
No. Your interpretation of my statement is disingenuous at best. I said it would likely be 6 months before KBLB attempted to restart production at GSS. I hope they will provide updates on their efforts before that time. I want them to provide updates before that time. But whatever KBLB says about their efforts will be measured against the harsh reality that KBLB has tried to produce silk on a commercial basis on four different occasions and each attempt ended in failure.
For that reason, investors (and KBLB) won’t know if their latest effort to produce silk on a commercial basis will succeed or fail until they attempt to produce silk on a commercial basis and succeed. By my estimate, data on that critical point will not become available until 7.5 months from now, roughly June 1st of 2024.
If Thompson is seized by a fit of garrrulousness and provides investors with considerable detail about the development and testing done on the new quad-parent hybrid lines, investors might have more faith in the new production effort than if he simply announces the shipment of four new lines to Vietnam and progress in scaling up these lines for egg production.
From what the company has told us so far this year, what led you to believe there would be products and revenues at any time in the next decade?
We don’t know what their mystery timetable is, if they are still on track or not, or any other specifics.
I thought Jon Rice was predicting 2023 to be their ‘breakout year.’ Or was that 2022? Regardless, what did he mean by that? The year investors broke out in hives from lack of progress?
Silkworms produce an enzyme that eats through silk when they are ready to emerge. Even if the enzyme just dissolved the sericin, that would probably suffice. If that wasn’t working, KBLB could just use a pair of scissors to break them out. But I doubt that is the problem.
Times change, but the lack of ongoing production never seem to. After the production failure in 2019, it took KBLB two more years to attempt a production restart. After the production failure in October 2022, we have waited a year to restart production but KBLB hasn’t yet told us they have found the right mis of parent strains. So it looks like six more months to attempt another production restart, if not longer.
Times change. Production follies remain.
Dang it. I didn’t make the cut this week. Guess I’ll have to try harder next week.
How many fan-boi posts lacking evidence or fabricating a positive interpretation out of thin air? Curious about the ratio.
One of the two you counted I suggest not responding to. As far as I can tell, his inconsistent attitudes mean he is only here for the attention. I’ve not found him to say much of anything worth responding to. But this is just a suggestion.
Believe it or not, there are proponents of KBLB that I seldom respond to for pretty much the same reason: argumentative, NUI (No Useful Information).
Wow. Comparing a company that is making and selling products unfavorably against a company that has been trying to get out of the starting gate for almost a decade and failing.
Gutsy call.
Not one I would make.
KBLB will struggle to equal Spiber’s current level of success before 2025. Anyone up for 2026?
Do you remember the initial attempt to start up in 2019? That was in the old facility. It was clear they were trying to raise off-season. GSS will be in the same situation and is about the same part of the country.
Part of the problem is temperature, but fresh mulberry is also difficult to obtain during those months.
No reason to believe GSS will pull off a miracle.
Appreciate the updates. Interesting to see Bolt is back in the spider silk business, sort of. I don’t think they will be competing with KBLB, though.
Spiber certainly knows how to keep the lights on and the money flowing. Can’t dismiss them as a competitor at this time.
Meanwhile, looking over the 2023 PRs and Letters to Shareholders from KBLB, the PR in January mentioned shipment of two parent lines for a double-hybrid system. Given the lack of any apparent production from that system, it looks like a complete bust.
KBLB indicated they might have their quad-hybrid system as early as Q3. Obviously nothing was announced in Q3, so we are waiting until Q4. Given the information you shared earlier about silkworm production in northern Vietnam, I suspect we have missed any chance of producing in Vietnam this year and will have to wait until the February/March 2024 time frame as the earliest the quad-hybrid model could be started.
I’m hopeful that Prodigy might be able to breed some of the parent lines even during the off-season. That may be part of the reason for the shakeup there. If so, the Feb/March crop might be of actual silkworm eggs. Otherwise, KBLB could end up with a generation or two of expanding the breeding lines before production could start.
These assumptions produce the following projections:
Next silk, earliest time: Early April 2024
Next silk, latest time: Early August 2024
These are all predicated on happiness and sunshine, such as the fact that the quad hybrid lines all do quite well in Vietnam regardless of the season.
Want2retire: “Let's take a look at what you found in the PRs or what you have added as your own opinion scarred by past experiences:”
DFS: “2) no increase in the quantity of silk in inventory to date.
4) silkworms at HQ were unhealthy. A new screening protocol has been implemented.”
Want2retire: “Can you point me to where these were included in PRs? Not your interpretation of the PRs but stated in the PRs.”
Oh. Sorry, my bad. I didn’t realize that using quarterly financial reports to determine that no increase in the quantity of silk inventory had occurred to date was out of bounds. Shame on me for relying on their financial reports.
The statement about the unhealthy silkworms? Sure enough! That was in a letter to shareholders, not a PR.
I apologize for attempting to use all of the information provided by the company to understand what is going on, when clearly I am only allowed to rely on the PRs.
Not only that, I am not supposed to point out things that KBLB has failed to report but that might help us understand what the situation is. But relying on an oblique, off-hand comment that the ‘technologies … are ready for large-scale production,” similar to many such statements in the past that never came to pass, is deeply meaningful.
Unfortunately, I can’t accept that comment as an confirmation that KBLB has developed and tested its latest 4-line hybrid crossbreed silkworm lines. The statement just doesn’t seem to say much that is important or worth paying attention to.
If Thompson wants to make a clear statement, all he has to do is pick up his pen and make one.
Want2retire: “I know the company’s track record hasn’t been great but if the only view is looking backwards to determine what the future might hold, I think that fails to accept or acknowledge today and what may happen tomorrow and moving forward.
“People change. Businesses change. Science and technology change. Try, for once, looking only at today, what the company has communicated this year and think about where it leads us.”
What the company has communicated this year:
1) two parent hybrid strains were sent to GSS in January.
2) no increase in the quantity of silk in inventory to date.
3) production of silk at GSS shut down some time after January.
4) silkworms at HQ were unhealthy. A new screening protocol has been implemented.
5) KBLB is working to identify the best quad-strain hybrid model for production among various parent lines.
6) KBLB has new equipment to improve the ability of their silks to blend.
Did I miss anything?
Oh yeah:
7) no announcement that the final quad-strain parent lines have been identified.
8) no description of why KBLB thinks this new quad-strain model will be successful.
9) no sales to date
10) no products to date
If KBLB wants me to think they have identified the quad-hybrid parent lines and has performed sufficient testing to ensure production will be successful in Vietnam, they need to put out a PR to that effect. That would be a step forward. Showing sustained production in Vietnam quarter after quarter will be a big step forward. Announcing a product will be a big step forward.
A toss-off line in a PR is not something that will convince investors to start buying in. I’m not buying right now. When $500 in shares are exchanged in one full trading day, doesn’t appear many others are buying as well.
Gimme, when I look at today’s PR that includes the following statement:
“The spider silk technologies developed at Kraig Labs are ready for large-scale production.”
All I can think about is: If KBLB has gotten to the point where they know for certain, no takesies-backsies, pinky-swear-its-true, that is huge important piece of news that deserves its own full-throated PR. Instead, it appears as a toss-off line in a PR about the reorganization of Prodigy.
You don’t see scientists publishing reports saying, “We reorganized everyone’s office, painted the walls, provided new paper and pencils, got some brand new lighting, bought everyone a plant, and oh, by the way, we discovered the quark.”
For that reason, I tend to dismiss the import of this claim. Maybe it is true. If so, KBLB really ought to come out with a PR announcing that and giving more information about what happened.
Today’s PR struck me as yet-another-yawner from Thompson. I’m still waiting to hear the news about production I’ve been waiting on for the past 4 to 5 years.
For all those who seem to care about these things, I still own a chunk of stock. The current value is less than the swing I see monthly on my 401K plan, so if it tanks, I’ll write it off as a bad month on the market. Not buying, not selling, holding.
Funny, I didn’t think he was complaining about WebSlinger…
You are forgetting that Thompson admitted the problems with silkworms were not limited to GSS but also affected those in his own laboratory.
We don’t know what the problem is, but it seems like either the genetic insertions are not stable, the genetic insertions reduce the viability of the silkworms, or both.
If their current silkworms were able to produce, Prodigy would be pumping out silk right now. Instead it is in a holding pattern, waiting for the next new thing.
Thompson’s most successful production effort to date was the one for the Army, when 11 shoot pack panels were produced. We don’t know what the quality of the silk was in those panels, but it took a long time under laboratory conditions to make a most modest amount of silk.
I agree with your statement that Thompson jumps onto the next big thing before he proves out his existing technology. When we see him wearing a lab coat, it suggests Thompson has been captured by the research activity of the lab rather than wearing a suit and tie like most CEO’s and focusing on production and sales.
A few months ago, I see a change in his attitude to focus on production, although I suspect he still keeps that lab coat around somewhere. 10 weeks ago he announced the hiring of two sericulture experts. We are certainly due an update.
TRUISM, just chock full of information. The rearing cycles seem to be only given for the northern part of Vietnam, but one can clearly see an annual pause between November and February/March. They gave viability rates where 85% appears to be a good number, another interesting tidbit. It also looks like one cannot grow the same type of silkworm year round. The summer months need a different breed than the spring.
Great find. Thanks for the post!
Coming when? Next year? 2025? Makes a difference in many people’s investment decisions.
If I die before it happens, I guess you could claim I retreated.
Personally I’m not going to take back any of my criticism of Thompson. Neither will feel people who have claimed success is ‘coming soon’ for multiple years have any special right to say “I told you so!” Many of the boosters have proclaimed success is at hand for so many many months. They were wrong many many times. WebSlinger has been right many many times.
If you want to offer a timeline for when you expect success to arrive, that is a step in the right direction. But I understand the hazards such predictions entail.
Now when I hear “soon,” I translate that into “perhaps someday.” Just not an interesting claim to make.
Sorry.
Jetow: “Maybe the truth isn't what some want revealed.... only half truths and slanted misconceptions without recourse. They will flee and be very silent in short order.”
Is ‘short order’ closer or further away than ‘soon.’ Just trying to figure out what you mean.
Glossary of KBLB-speak
‘In the coming days and weeks’ means ‘at least 18 months.
‘Coming soon’ means ‘at least 500 days.’
‘In short order’ means ???
Thompson has not published a research article on ‘nearly pure spider silk’ that was peer reviewed. He simply asserted this in a PR and has all but ignored the topic since that time.
KBLB’s claims, beyond those in the PNAS article, have not been reviewed by scientific peers. Given how old that PNAS article was, KBLB has dropped off the scientific radar.
Given his PR claims about production and sales have never materialized, scientists and investors may be discounting the brief mentions KBLB makes.
Thompson’s penchant for secrecy is either hiding serious problems or hurting investors. Take your pick.