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Closer is relative.
Is an ant climbing an anthill closer to the moon?
I totally agree. That is why I said "they supposedly haven't tested". They probably already know that the fiber isn't up to snuff (and are trying to buy more time as usual).
I wrote about the issues with smaller cocoons about two months ago, but nobody would listen:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=138452398
KBLB has known about these issues for years, but they are just now starting to admit the issues that they are having.
From the latest PR, it looks like they are just starting to deal with the issue, but they have a long, long way to go.
KBLB stated that they have created a larger cocoon, but they supposedly haven't tested the strength of the fibers from those cocoons yet. Their exact words were "Mechanical performance testing of this new hybrid spider silk line is expected to begin shortly."
Once again, this tells me that KBLB is nowhere close to commercialization. They are still a research lab trying to figure out how to get there.
<< Is it possible that the customer (Army) has changed their priorities for the material they have requested? >>
No, definitely not. If they Army wanted to change their mind, then they would need to rewrite the contract (and that hasn't happened otherwise it would show up in the government contract databases - which it hasn't).
KBLB still owes the Army the shootpacks (which are now almost 2 years overdue).
They will also owe the Army 100 kgs of custom spidersilk fiber in a few months (when that part of the contract comes up due).
They will NOT receive the rest of the money from the Army if the don't produce the deliverables (KBLB has so far received only about $129K from the Army in the past year and a half). In addition, you can kiss the Army goodbye if they don't make these deliverables anytime soon (and the Army might have already written KBLB off because of their inability to deliver).
<< I just hope the news is good, especially regarding Vietnam. >>
KBLB needs to provide 2 things to MARD in order to get into Vietnam:
(1) a biosafety document from the U.S. State Dept
(2) a document from the US Department of Agriculture
KBLB has neither of them.
If KBLB receives either of these, you should see a PR in that regards.
Until then, it is all just wishful thinking...
October 3, 2017: "A representative from the Ministry of Agriculture and Rural Development (MARD) has received a dossier from Kraig Biocraft Laboratories, Inc. (USA) for the project to import and produce genetically modified silkworms (spider silkworms). After considering the dossier, the Ministry of Agriculture and Rural Development (MARD) found that the dossier was missing: (1) The biosafety certificate granted for the gene transfer event to the silkworm variety meeting the requirements in Article 22, Article 23 Decree 69/2010 / ND-CP dated 21 June 2010 of the Government on management of biological safety of genetically modified organisms. (2) License for use of genetically modified (AI) silkworms in US Department of Agriculture (USDA) mass production."
http://vietseri.vn/Chi-tiet-tin/Tin-tuc/11752/trien-khai-du-an-nhap-va-nuoi-tam-bien-doi-gen
You can read Vietnamese Decree 69/2010 (Biosafety of Genetically Modified Organisms, Genetic specimen and Products Derived from Genetically Modified Organisms) here:
http://www.biosafetyscanner.org/pdf/doc/456_allegato.pdf
<< In all fairness, they never said they would share the photos in March. >>
Tomorrow is the last day of the month that the stock market will be open and trading. It is the last day that KBLB can fulfill the promises they made (completion of shootpacks, photos of shootpacks, decision on Vietnam, etc) about two months ago.
It's the bottom of the 9th inning with two outs and two strikes. Kim is up at bat. Will KBLB hit the game winning grand slam that everyone is hoping for? Or will the game end and the fans leave the stadium disappointed?
Sorry, but that is incorrect. The range in Jan 2017 was around 5 to 9 cents. That was back in the "good old days" when the share price was actually on the upswing. How far they have fallen...
Today's Trades: 491K Sells & 9K Buys
This stock has been on a downward trend for the last year. There is nothing that will change its momentum over the next few months. Vietnam requires documents that KBLB doesn't have. The Army contract is in peril and they won't make a decision until BOTH deliverables have been received (which is in a few months).
<< I keep hoping and praying for a buyout, and I was thinking of a PPS or around five dollars. At that price, KBLB would still be a steal for just around four billion dollars.. >>
ROTFL.
You'll be lucky if KBLB ever makes it back to 5 cents.
DOW up 650 points, KBLB down 6%
<< kim is creating the scenario where kblb owes him money for different reasons...I don't like that..hes doing it purposely...I don't know the reason why...but it sure stinks to me.. >>
Is it possible that he is preparing for a bankruptcy (where stockholders get zip and creditors will receive their fair due?
KBLB has been around for at least 10 years. In all of that time, they haven't been able to produce a single product.
In Jun 2016, they were awarded a contract with the Army (for about $100,000). That is when the stock price shot up (but ever since then it has plummeted). They were supposed to deliver a few sample shootpacks to the Army by Apr 2017 (10 months later). They missed the deadline and blamed it on another company (their reeler). The Army was then gracious enough to give them another 8 months (until Dec 2017). But they missed that delivery as well. They again blamed it on another company (Warwick Mills). Here we are almost 2 years since they were awarded the contract, and they still haven't delivered anything (not even a few sample shootpacks).
Along the way, the Army received a few fibers from them and they tested them. They must have liked them enough, because the Army then decided to execute the 12-month optional phase of the contract (worth about $900,000) in Aug 2017, which requires KBLB to create custom spider silk (to certain specs). The delivery is due Aug 2018, but they have already started making excuses about how the specs for their worms are out of range and needs to be corrected.
IMO, the only thing this company produces is hope. Every PR and newsletter is filled with forward-looking statements. And nothing is ever produced. It is always "almost there".
KBLB is in the hole about $200,000 / month. Yet, the CEO pays himself over $300,000 / year, he gives himself a raise every year, and he gives himself a 20% bonus every year (that is in addition to the 100s of millions of shares of stock that he has given himself).
The CEO also bought land that he leases back to the company (for a profit).
Here are some notes after a quick review of the 10K:
- KBLB received another $70,096 from the Army in the 4Q 2017. That is less than $25,000 per month.
That brings the total amount received from the Army to $129,176 (since they first signed the contract in 2Q 2016).
- Kim sold about 3.8 millions (personal) shares during 2017. He has about another 200 million shares that he can sell (and still have control over the company).
- Kim's salary is now $315,764 (up from $297,889 (or about 6%) from the prior year).
- The float increased about 36 million shares during 2017.
It has been like that for many days.
But you are correct, there hasn't even been ONE buy today.
Anyone want to take a guess at when the 10K will be released?
My guess is Friday, 30 March (the last business day of the month).
You seem to be proposing that KBLB's financial statements are not to be trusted. And you call me negative? LOL
Thanks for that update. That wasn't there a few days ago.
But people need to realize that KBLB has received very little from the $1 million that the Army has made available.
Any payments received by KBLB from the Army would have to show up in the 10Q quarterly reports and / or 10K annual reports.
FYI: The Army contract was signed around Jul 2016 (in the 3Q 2016).
Here is the revenue that KBLB has reported so far (in their financial statements):
2Q 2016: $0
3Q 2016: $18,673
4Q 2016: $13,185
1Q 2017: $0
2Q 2017: $0
3Q 2017: $27,222
4Q 2017: Coming out very soon
The 3Q 2016 10Q states:
IHub is showing that sale as a Form T trade (which means extended hours).
https://www.investopedia.com/terms/f/formt.asp
Anyone know who Nielsen Jason is (the person who purchased 136 million shares)?
<< What ever it is, it’s not enough. They are worth every penny. >>
Why is that? What have they actually accomplished?
Commercialization? NOPE
Scale & Sale? NOPE
Vietnam? NOPE
Another country? NOPE
Recurring Customers? NOPE
Sample Shootpacks? NOPE
Rising share price? NOPE
Anything of value? NOPE
...
I am not sure how you came to that conclusion. I presented evidence. Does the evidence want KBLB to fail? The answer of course is "no". Or does the evidence paint a gloomy picture (that you don't want to accept)? I think that is the more likely answer.
For the record, I would love to see KBLB succeed. I think it would be pretty cool if someone could finally mass produce a strong spider silk and use it for military products, medical products, etc.
<< ...there may be an issue... >>
There is no doubt, there is DEFINITELY an issue. They have been trying to produce a few sample shootpacks for over a year and a half! They aren't a few days late, or a few weeks late, or a few months late. They are over a year and a half late!
From statements by KBLB in the past, this should have been easy-peasy (since years ago they announced that they had the ability to "scale and sale"). But instead, it has turned into one excuse after the other...
The reeler ruined their fiber.
The cocoons are smaller than the industry can handle.
The weaver couldn't handle the "small quantity" of thread.
There are "genetic drift" issues.
ad infinitum...
Even IF they can FINALLY produce the sample shootpacks, they still have a LONG way to go. They will still need to "scale" the product. And they will still need to be able to find a production weaver that can handle quantities of their material, since a "research facility" usually can't handle production quantities.
We are half-way through March...
No PRs
No photos
No shootpack delivery
No update on "genetic drift"
No update on Vietnam
Same old, same old...
KBLB only traded a total of $1,700 worth of stock today.
That is pathetic!
Information is always wanted, but it needs to be quality (and not just quantity).
I don't need to know about every invitation they receive. I just want to know which ones they plan on attending or speaking at.
I don't need to know if someone requested a quote or when they ship something. I just want to know when something was sold.
I don't need to know that one of their customers had good earnings. I would just like for them to have good earnings.
While some of the tweets are useful, many of them are not (and some come off a little dishonest and seem like marketing hype).
Another day of selling for KBLB
258K shares sold
  63K shares bought
The only reason the stock price ended up today was because a market manipulator bought 800 shares ($28 worth) in the last trade of the day to pump the stock up from $0.03345 to $0.0349.
You got to love those market manipulators. :)
Will Kim be charged with fraud in the near future?
https://www.usatoday.com/story/tech/2018/03/14/theranos-founder-elizabeth-holmes-charged-massive-fraud/424670002/
He has made countless promises to shareholders over the last 10 years and hasn't delivered anything of significance during that entire time.
The clock is ticking and time is running out. Tick tock.
Unfortunately (for KBLB) that was also the same meeting where MARD denied their approval (to enter Vietnam) because they were missing 2 mandatory documents (biosafety certificate from U.S. State Dept & license for use of genetically modified (AI) silkworms from USDA).
Entry into Vietnam is NOT going to happen this year (and it might never happen).
<< you cant sell shares that dont exist...there are only 2 shares..but those 2 shares are worth 400 mil VOTES..there are not 400 mil shares.. >>
BEFORE he received the 2 super voting shares, he had 100s of millions of shares (in order to have majority control over the company). Once he received the 2 super voting shares, he no longer needed all of those shares to have control over the company, so he can sell them at any time.
<< ...actually, I'm not sure kblb has to file a 10q at all... >>
Wow! You really do live in your own little world, don't you? Must be a nice place. LOL.
<< so your contention is ... >>
It isn't my contention at all. That is exactly what is reported by KBLB. If you have a problem with that, then I suggest that you ask KBLB about it.
Income needs to be legally reported every quarter. If they aren't reporting income that they are receiving, then they are cooking their books and could be criminally charged. Is that your contention?
<< ...kblb spends over $300k a month...just out of curiosity, looking at the 10q's, where is that money coming from? >>
That is a great question. Here is my guess... Kim received 2 super voting shares that are worth 400 million regular shares. Since he doesn't need those shares anymore (to protect his majority ownership), he might be selling those 400 million shares (over time), and then loaning it back to the company (with interest of course) in order to fund the company.
The most recent 10Q had the following statements:
<< Three years after the last filling.Delinquent for three years and more. >>
Thanks, can you please provide a link for that information.
<< The deadline of the suspension is getting closer. >>
What is the deadline?
<< ...write a check for $100k... >>
<< ...the military awarded the second phase of the contract and wrote a $450k check to kblb >>
<< this past January the military cut another check for $425k... >>
You are claiming that KBLB has received about $1 million from the Army so far. I am sorry, but that is incorrect.
Any payments from the Army would have to show up in the 10Q quarterly reports and / or 10K annual reports.
FYI: The contract was signed around Jul 2016.
Here is the revenue that KBLB has reported so far:
2Q 2016: $0
3Q 2016: $18,673
4Q 2016: $13,185
1Q 2017: $0
2Q 2017: $0
3Q 2017: $27,222
4Q 2017: Coming out in about a week or so
You can find all of that information yourself by just reviewing their financial statements and looking for the words "revenue".
So, as you can see, KBLB has only received $59,080 from the Army contract through Sep 2017. I imagine that they might have received another small amount in the 4th quarter, but we won't know that until the annual statement comes out in the next week or so. If your statements (at the top of the post) were correct, then they should have reported at least $500,000 (which they didn't).
The Army has made $1 million AVAILABLE, but the payment of that amount to KBLB is contingent upon receiving deliverables (and KBLB hasn't delivered ANYTHING yet). The Army isn't going to give KBLB money "just because".
<< ...the lamenting went on about no shoot packs... >>
And now you know why it is important for KBLB to actually make a delivery (because the Army won't pay them until they do).
Pretty pathetic trading today for KBLB.
There were only 60,000 shares bought the ENTIRE day. That amounts to about $2,000 dollars worth of stock. That is really pitiful.
<< we are still ahead of them, since we are only lacking a place to produce >>
Sorry, but that is totally incorrect.
You are lacking:
- consistency in product
- ability to produce large quantities (they can't even make a few sample shootpacks in over a year and a half)
- proper documentation to enter Vietnam (or almost any other country), which will take months or years to complete
- financing (which they will need to expand operations)
- customers (the most important thing of all) - and I wouldn't include the Army as a customer just yet - they only ordered some samples for testing and haven't put in a real order yet (and might never)
Bolt is MUCH farther ahead. They have financing, consistency, proven ability to produce large quantities, LOTs of financing, and customers. But I wouldn't really compare them, since Bolt is going after a totally different market.
Here is my take...
<< THE ISSUE WITH KBLB I have is their seemingly lack luster pace to enter into other sectors, besides enforcement (military), such as clothing/textiles with their science. >>
I believe that the main problem that KBLB has is that it can't produce large quantities of product. I mean they haven't even been able to create a few sample shootpacks for the Army in over a year and a half.
<< Bolt Threads who have concentrated their efforts and technology of spider silk thread for clothing, and receiving $ 20-50 millions investing seed by co. like Patagonia >>
I believe that Bolt has raised over $250 million.
<< Also, can someone inform me why in hell are they (KBLB) so determined to get into Vietnam while the government is literally dragging out the process? >>
Vietnam has stated that KBLB needs to obtain documentation from the U.S. State Dept. and the USDA (since they have genetically engineered animals) in order to gain approval. I believe that this process would be very similar no matter what country they went to.
Excellent, thank you