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It looks like the new subsidiary Prodigy Silk has been abandoned (or at least put on hold).
Prodigy Silk was supposed to be headquartered in the Lam Dong facility, but that is no longer being used and the Douchebag CEO is trying to terminate the lease (which he is on the hook for $30K).
ONCE AGAIN, ANOTHER FAILURE (OR SCAM???)
According to the recent SEC 10-Q Quarterly Financial filed by KBLB, they are no longer using the new Lam Dong facility that they recently moved into (a few months prior) and are looking to terminate the 5-year lease (that they just signed in Feb 2024).
<< This batch of cocoons will be used to further refine reeling operations, improve efficiency, and produce additional finished spider silk for use and sale in end markets. >>
Once again, another statement that shows that Kings / MtheMovement kicked KBLB to the curb.
<< Another day CLOSER to THE HARVEST!!! >>
Another day CLOSER to MASSIVE DILUTION!!!
And I don't need your permission....
<< Stay tuned after hours today. I will share how I had predicted something that happened during the trading day would happen. >>
The news media got tired of waiting and have left the building. LOL.
<< KBLB lost their only paying customer >>
Since KBLB never delivered anything, Kings / MtheMovement were never "paying" customers.
The Douchebag CEO just found another sucker to sign a contract in order to sell more worthless shares.
<< And yet the CEO takes at 6% Raise … >>
The Douchebag CEO gets a lot more than that (no matter how bad the company does).
For 2024:
- he gives himself a salary of $474,790 (next year he will give himself a salary of $503,277)
- he gives himself a 20% bonus of $94,958 (next year he will give himself a bonus of $100,655)
- he will earn over $400K in interest that he charges KBLB
- he will give himself MILLIONS of shares via options and warrants
- he gives himself a company car
- he gives himself free medical insurance
- he gives himself a golden parachute (just in case he fires himself)
And that is just the tip of the iceberg.... He probably gives himself a lot of other perks that he hides or doesn't report....
Hey Money, haven't heard much from you lately....
I hope that you are doing well.....
<< Next up? That batch of silk we’ve been told will be for sale.. >>
Are they going to put that 10 kg for sale on eBay?
LOL
Oops....
KBLB couldn't hold 10 cents for the week....
It closed near the low of the day.....
That article has nothing to do with ZNOG. It is about shorters being squeezed out of their positions, thus raising the stock price. ZNOG doesn't even have options.
In addition, the article doesn't know what the hell it is talking about. The main reason that GME went sky high was because it used a fairly unknown strategy of buying Call options as a way of forcing brokerages to buy more shares (in order to cover the options in case they were exercised, since each option controls 100 shares). In other words, when Roaring Kitty bought 2,000 options, he effectively controlled 200,000 shares. If enough shares were not available, then that forced brokerages to buy shares a higher price, which then forced brokerages to do a margin call on shorters to buy back shares, which then forced the share price even higher. This caused a domino effect, which in turn brought in the retail masses, which forced the share price even higher.
<< This has to be approved via vote by shareholders >>
Regular / retail shareholders rarely vote.
<< the most mind boggling, head scratching event in the 10q >>
Please share....
<< Could be the quarterly report. >>
WRONG AGAIN!
The quarterly report came out 2 days ago and it was a disaster.
- $0 sales
- $0 revenue
- Cash decreased by over $500K
- Kings / MtheM / Spydasilk Enterprises all scrubbed from financials (iHub post #280184)
- Inventory hasn't changed since 2023 10-K (iHub post #280200)
- Interest owed to the Douchebag CEO increased from $2.5 MILLION to $2.9 MILLION year over year.
- Still no word on Prodigy Silk since 6 Mar 2024
- KBLB still paying off debt from Notre Dame
- Warrants for over 6 million shares were issued last week
****INVENTORY STAGNANT FOR OVER A YEAR****
The pumpers keep saying that commercial production is going full steam ahead, yet there has been no revenue and there has been no increase in inventory.
It looks like they are lying.... Imagine that.....
Inventory has barely budged since it was 1st reported at the end of 2022. Back in Dec 2022 inventory was reported as $6,580. In Dec 2023, it increased around $300 (to $6,884). It hasn't changed since then (in over 8 months).
<< Are you sure about that? >>
Yes.
The $250K "initial payment" was never received by KBLB from Kings.
There have been no deliveries to Kings by KBLB.
Kings / MtheMovement hasn't been mentioned in a PR since 2022.
Walter Wee gave KBLB a (generous) 6 out of 10 back in Jan 2024 when someone asked him a question.
Inventory has not increased as of yesterday's financial.
MtheMovement / Kings / Spydasilk Enterprises have been scrubbed from yesterday's 10-Q. This seems to indicate that the deal is dead and KBLB was kicked to the side of the road.
Here is the text that was in previous 10-Qs (ending 31 Mar 2024, 30 Sep 2023, and 30 Jun 2023):
8s today, as I thought might happen by the end of the week, although it came earlier than I expected.
<< $0.25 in cash per outstanding common share >>
That sucks for shareholders!
From $10 to $0.25 in 3 years!
<< because it's a OTC stock >>
They are hoping that you will rethink your decision and come to your senses.
But I do think if someone wants to gamble away their money, then they should be allowed to.
<< their products are made from synthetic proteins, not genuine spider silk >>
That is a non-sequitur fallacy. The majority of applications don't care.
When someone buys clothing, they won't care if it is a synthetic protein or not. They will look at how it looks, how it feels, and how much it costs.
When making military equipment, they won't care if it is synthetic protein or not. They will look at its tensile strength, elasticity, etc.
<< To me that means Kings and or Polortec. >>
To me that means that the Douchebag CEO will find some other sucker to write a contract with to string along shareholders for another year or two.
Polartec kicked KBLB to the curb years ago. The last time they were mentioned in a KBLB filing or PR was back in 2021 (about 4 years ago).
Kings / MtheMovement has now kicked KBLB to the curb.
Wash, rinse, repeat.....
MtheMovement / Kings / Spydasilk Enterprises have been scrubbed from today's 10-Q. This seems to indicate that the deal is dead and KBLB was kicked to the side of the road.
Here is the text that was in previous 10-Qs (ending 31 Mar 2024, 30 Sep 2023, and 30 Jun 2023):
<< I have February 2025 as a milestone month for KBLB as Kim has a 2 million class A share option expiring. >>
That means absolutely nothing.
The Douchebag CEO will just extend it for another year or five, like he has done multiple times before.
***** 10-Q: $0 REVENUE *****
Give it up. ARYC will never report again....
10-Q: Warrants for over 6 million shares were issued last week.
10-Q: KBLB is still paying off Notre Dame from 2019.
10-Q: Interest owed to the Douchebag CEO increased from $2.5 MILLION to $2.9 MILLION year over year. That is over $400K in interest alone that he gives to himself at the expense of the company and shareholders.
**** 10-Q: CASH DECREASES OVER $500K IN 1 QTR ****
****ABOUT 3 MONTHS LEFT IN KINGS/MTM CONTRACT****
*****UPDATED: KBLB - FAILURE AFTER FAILURE (OR SCAM AFTER SCAM????)*****
NEW: 2024: Kings / MtheMovement Committed to Purchase Min $12 Million in Spidersilk - FAILED
NEW: 2024: GSS - FAILED
2023: Air Force Contract is a Slam Dunk - FAILED
2023: Kings / MtheMovement to Purchase Up To $12 Million in Spidersilk - FAILED
2023: Commercial production - FAILED
2022: Commercial production - FAILED
2022: Kings / MtheMovement to Purchase Up To $5 Million in Spidersilk - FAILED
2022: Website & apparel launch - FAILED
2021: Kings / MtheMovement to Purchase Up To $3 Million in Spidersilk - FAILED
2021: "The Company ... has now produced enough silk to create a number of different fabric blends." - FAILED
2021: "Spydasilk should hit the ground running" - FAILED
2021: $250K prepayment from Kings / MtheMovement- FAILED
2019-2020: Uplist to NASDAQ - FAILED
2019: Commercial production - FAILED
2019: Appoint Independent Board of Directors - FAILED
2019: Polartec MOU - FAILED
2018: "Our recombinant spider silk silkworm technology is a direct drop-in replacement for traditional silkworms and allows us to move quickly, with minimal investment, to bring new products to market" - FAILED
2018: ““We are busy preparing silkworm eggs for shipment and putting the team in place at Prodigy to hit the ground running.” - FAILED
2016-2018: Army Contract - FAILED
2016: “the Company is on schedule to produce all of the recombinant spider silk necessary to fulfill its contract with the US Government on time” - FAILED
2017: Mulberry facility in Texas - FAILED
2014-2015: "R&D .... is no longer necessary" - FAILED
2014-2015: “Scale and sale” - FAILED
2013-2015: Commercialization of Big Red - FAILED
2013-2014: Warwick Mills Partnership - FAILED
2013: SSM Industries Partnership - FAILED
And those are just a few of the MANY, MANY FAILURES that KBLB has had over the years….
Desperately waiting (NOT) for another financial statement with no revenue.
RE-SPUN SILKWORM SILK IS 70% STRONGER THAN SPIDER SILK
"Our finding reverses the previous perception that silkworm silk cannot compete with spider silks on mechanical performance,"
<< We don’t really know what ‘small batch’ KBLB is referring to. >>
Yes, we do.
The PR specifically uses that exact same term.
https://www.kraiglabs.com/kraig-biocraft-laboratories-announces-early-start-to-production-season-with-successful-small-batch-delivery-of-spider-silk/