Kraig Biocraft Laboratories Inc (KBLB)

[FACT-MASTER]

IT WAS A GREAT DEAL FOR KIM, EXCHANGE $30,000.00 FOR SHARES WORTH $5,217,800.

AIN'T KIM GREAT... TO KIM!!

NOTHING BUT THE FACTZZZzzzzzzzz IN SEC FILINGS


http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9921195



EXCERPT FACTOMUNDO 1


(H) Conversion of debt & Issuance of Convertible Preferred Stock – related party

During the year ended December 31, 2013, the Company's Chief Executive Officer converted accrued payroll of $30,000 in exchange for the issuance of Series A convertible Preferred Stock (“Series A PS”).

Each share of Series A PS is entitled to vote together with the holders of the Company’s common stock on all matters and is entitled to 200,000,000 votes on all such matters. Each Share of Series A PS is convertible into one share of the Company’s common stock at the holder’s option.


Series A PS Valuation

Debt converted – related party
$ (30,000 )
Valuation of Series A PS issued as consideration
5,217,800
Loss on settlement of debt
$ 5,187,800

The valuation of the Series A PS was performed by a third party valuation expert and was based on the voting control obtained and the Company's market cap at the time of the transaction.


FACT-MASTER WAS HERE