Kraig Biocraft Laboratories Inc (KBLB)

[TRUISM]

even if his spending continues at the current pace, the agreement stretches until the middle of next year and I don't think KBLB will be selling enough silk (if any) at that point. He will still need to find additional financing which was my point.

In the filing it states:

In the event that we raise substantially less than the maximum proceeds that we expect to raise under the equity line financing by the expiration of its 24 month term, we will seek to extend or renew the equity line financing with Calm Seas Capital to raise the short-fall additional revenue on substantially the same terms as under the Letter Agreement. If Calm Seas Capital is unwilling or unable to enter into such an arrangement, we will be forced to raise additional capital from other investors.

Blessings to All

TRUTH