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“And with their current partners that develops products it’s a 50/50 by just supplying the fiber$”
Where was it stated anywhere that that is the agreed upon arrangement? Looks to me like you’re just making shit up again, like usual.
One guy doesn’t make a whole country or even suggest that anything is going on with India. If the guy was black would you be assuming that whole continent of Africa was involved? smh
I was waiting for an 8k saying the 2024 Notes had been settled not one saying that the 2027 notes are still convertible. I must have been right about converting the 2027 notes early not benefiting the note holders since none seem to have been converted yet even though they are significantly in the money.
“That can't be good for shareholders....”
I don’t know why. They are not trying to sell mundane silk. Would just make it easier and cheaper to convert the farmers over to KBLB contractors. Plus, if they are valuing the GSS cocoon inventory at $8.25/kg, it would mean they are getting pretty close to metric ton production.
“Your argument that the increase in the value of the inventory was due to post-production improvements in the value of their inventory could only be possible if the hank shown had actually been delivered in 2022.”
No, it would mean the cocoons were delivered in 2022 and they were processed into a hank in 4th quarter 2023. It’s not rocket science.
What do you need a PR for when the 10k was just put out? I doubt he would put anything else out this week. I don’t know why you think Kim is back from Vietnam. Last week’s PR said he and his Indian expert were still working in Vietnam. That’s the only thing of significance that was in the PR. It’s going to take a lot more than a week or two to get things up to speed in Lam Dong and to train Prodigy employees on how to produce hybrid eggs. What does Kim have to do in Michigan that’s so damn important? If he doesn’t get some significant silk/end product production going soon things are going to get pretty ugly around here. What’s a 100-1 reverse split going to do for your investment? I hope he doesn’t come back until there is a commercial product produced and sold from SpydaSilk. I can think of a million things that Kim needs to get done in the meantime and none of those things are in Michigan.
Don’t worry about it. I think your crows need some feeding.
Converting cocoons to yarn to add value would not take it out of inventory and is a lot more plausible than some kind of accounting error.
When they buy the cocoons back from the contractor it becomes inventory. It will stay in inventory until it is sold to some other entity at which time it becomes revenue. They can increase the value of the inventory (cocoons) by processing it into something more valuable either as yarn, cloth, or hoodies before it is sold to somebody else. Poor yielding cocoons would explain the lower than expected increase in inventory value when the cocoons were converted to yarn.
Beats trying to figure out where all that inventory disappeared to or how the accounting doesn’t add up or where some mystery production happened. If you read the PR’s close enough you will notice that it seems like Kim is trying to make it look like something they did like 2 years ago happened just recently. This makes it look like they have been doing something (producing) recently when they actually haven’t been. An example would be that hank of silk, which, to me, appears to be from what was produced at GSS way back whenever. Things just don’t seem to be adding up to what they should be to me if all the production they keep talking about was actually happening. Also, why would you need to field trial your 2 parent lines. Wouldn’t you just raise and breed them at Prodigy where it’s climate controlled? Makes no sense.
It seems pretty obvious that since the inventory showed up after GSS produced some silk and then the prepaid inventory was written off after GSS was shutdown that it is associated with the silk that is or isn’t being produced by them.
KBLB is buying the spidersilk back from their contractors after it is produced and not all of it will be going to SpydaSilk. Until that silk is paid for by somebody else, SpydaSilk, Kings, or whomever, it would be considered inventory. Prepaying the contractors for that silk inventory may be needed to convince them to switch from mundane silk where they don’t get that benefit. It probably also lowers the cost of what KBLB would be expected to pay the contractors for their service. But that only works if you give the contractors something to grow, hence, the write off.
“That seems to indicate the hank of silk he was holding was only estimated to be $304.”
Or, as I said, it is the entire inventory. But now it is in yarn form instead of cocoon form which would cause it to increase in value.
If they’re valuing the hank at $30/kilo they might as well shut the doors now because mundane silk yarn is worth about twice that last time I checked.
Funny how the crow farmers are awfully silent today.
“I’m not particularly happy with this number. It seems to devalue the hank of silk we saw.”
The increase was probably due to processing the cocoons into silk yarn causing the value to go up. If you do that then about $300/kilo yarn would make the numbers come close to adding up. Isn’t that the price point they were looking to get under to make Spidersilk a viable commodity? Don’t know if that price works economically when making fashionable clothing with it. Maybe someday we’ll find out.
Low yielding cocoons could cause that $ valuation to be higher than what their target price was when they paid for the cocoons. But this also raises the question of what other production have they been claiming to have done? Doesn’t appear to have been silk production.
Gee, I could have swore somebody said production was still happening there. So where has all this mystery production been taking place then? smh
And before someone pipes in and says it was happening in Lam Dong, they didn’t lease a facility there until this year and it appears to just be a building about 1/9 the size of Prodigy’s buildings with no land for mulberry production included. Doesn’t appear to me that it is going to be used for growing out silkworms. Looks to be more like an office and distribution/collection center which makes more sense to me.
He didn’t have the votes. He just happens to be the entire Board of Directors though. I guess if that gives you the power to give yourself all the shares you want, then voting shares are pretty much meaningless.
“If you want to be negative, you should use the scare tactic that now Kim can sell all his 200 mil personal shares and still maintain control of Kblb… “
I guess that must be GED mathematics. smh
Uh, I dunno. Probably needs a vote to get approved maybe? Something obviously needs voter approval and Kim doesn’t care how you want to vote.
That’s probably the only way this was ever going to see $5/share. When do you predict he puts the S-1 into effect? 100-1 going to do it?
The 2024 warrants that they sold that will probably be expiring worthless over the next 3 months or so if the price doesn’t go over $109.43 seems like a good reason to me not to be buying now.
I believe the 2024 Convertible Notes expire today. BOA could be looking to cover some short positions.
Here’s a clue for ya. What do you put down on your taxes when you sell that first 100 shares a couple years later? It’s not rocket science.
“Was it the post where he didn't know how to calculate cost basis?”
There you go again. Still not following your own advice and proving once again how ignorant you are. There is nothing to calculate. Cost basis is the price you paid for the stock, it doesn’t change just because you buy some more stock at a different price. Why don’t you just quit. You’re really embarrassing yourself.
“This is what the left does when it has no leg to stand on.”
You aren’t even smart enough to know that you’re on the left side. Are you quadriplegic? smh
A guy who is evidently invested in only one penny stock for years and years. That doesn’t make you a penny stock expert. Your postings come across as being very naive actually.
“Was thinking you were not as heated just yet.”
You’re totally clueless again. What was that saying you were so fond of? I believe it was something about removing all doubt.
Sorry, didn’t know there were other girls on here.
You’re just another one of the clueless homo’s club. You obviously don’t know anything about me. Do you ever add anything useful to a conversation? Where’s the silk?
Kim’s not the one that is clueless. Those Prodigy employees going to drive their little scooters hundreds of miles down to Lam Dong to get their Indian expert training every day? I can see the convoy now. lol
I guess you missed the part where they are trialing the parent lines, Bozo. That doesn’t have to be done in Lam Dong.
I guess they’re just paying those guys at Prodigy to sit on their nuts and do nothing then, according to you. Don’t know what else they would be doing unless it was just to produce the picture using the old DS line of worms. They obviously haven’t been raising any new hybrids or parent lines there.
“Well it seems like now most of the upward gyrations of the IDCC stock price involving the convertibles notes are now over”
I believe you are wrong. The upward gyration should start after the notes are converted and before the warrants expire. Should also be some short covering at that same time associated with the converts.
“You just can't get one right, dang it! “
Don’t know how you can run a production trial until you have BAM1 eggs. They haven’t even raised the first generation of parent lines yet. The Lam Dong facility isn’t for raising worms, it’s for distributing the eggs/ baby worms to contractors and later for collecting the cocoons. You really don’t have a clue, do you.
“He will provide guidance and training to the team and oversee the rearing of the first generation of BAM-1 parent lines.”
Rearing of first generation of parent lines. Don’t know why they would do that anywhere else but at the original Prodigy. Looking like Dimes may have been correct on his timeline. I hope they shipped a lot of eggs over from Michigan.
“”did it pay for itself" ?.”
I don’t see how. I guess your math is different than mine. As long as you’re happy, I guess, that’s all that counts.
I know my audience.
I didn’t say anything. I typed it. Duh.
“There probably won't be much to report until they get back.”
If they are back in less than 2 months I would be highly disappointed. All the work that needs to be done is in Vietnam and Singapore right now. Better see some fabric coming out of this trip because they are way past due for that. They claimed to have plenty of silk to launch SpydaSilk long before that picture of a small amount of silk with KT. It’s time they started showing some real end product, not just raw silk.
“In the end, will it have made money for the company?”
No, looks like a big waste of time and cash to me. It also doesn’t look like it was needed to buy back the stock either. The company already appears to have had enough cash of their own to do that. It also probably facilitated a lot of the short sales. If this was done to facilitate a bunch of dilution like some guys on here want to believe then why are they bothering to buy shares back if all they really want to do is dilute shares. Do they just like buying shares back at prices higher than they sold them at?
There will be no dilution unless the warrants finish in the money. The converted notes and exercised calls cancel each other out. Look at the chart in the 10k. It’s plain as day.
If the 2027 notes were converted around the $102 range then IDCC would owe the note holders about 1.4 million shares, after paying the $460 million principal back, but would turn around and get the same number of shares back by exercising the call options. The warrants are not in the money currently. I don’t know what it would cost IDCC to buy them back. I doubt IDCC wants those warrants sitting out there for 3 more years after the notes and calls are settled. I don’t really know when the warrants are supposed to expire though or if the expiration would be affected by converting the notes early.
The rest of the 2024 notes would involve about 350,000 shares doing the same swap at that same share price. The 2024 warrants, being currently out of the money, will expire sometime in the next 3-5 months or so if not repurchased by IDCC.
Production of what? Kim claims he is producing all the time. Lately they seem to have been busy trying to produce breeding stock and BAM1 eggs. Haven’t seen too much indication that they are producing actual silk or any other end products at all though.
Doesn’t make much sense for IDCC to be buying now. Would only cause the warrants to be in the money more which kinda defeats the purpose of the buyback don’t you think.
“BAM 1 silk may begin to arrive in late Q2 or in Q3.”
They stated the BAM1 and its parent lines are going to be in the spring trials. If it’s part of the spring trials then BAM1 Spidasilk should arrive in the next couple months. It’s not like they can use those cocoons for anything else. I don’t know why they need to include the parent lines in the spring trials. You would think that Prodigy1 would have enough capacity to raise the parent lines. Hopefully the parent lines are used to ramp up the production of BAM1 quicker. Seems like a logistics nightmare to get them back and forth from Prodigy1 though. Would be harder to prevent disease transmission. I believe the only production that has been going on lately has been the production of the parent lines.