Kraig Biocraft Laboratories Inc (KBLB)

[WebSlinger]

<< ...that was 2017. >>

Sorry, but that is totally incorrect.

The following statement was in the 10Q for 2Q 2018 (released last Friday):

"On July 24, 2017, the Company signed a contract option extension with the US Army to research and deliver recombinant spider silk fibers and threads. This contract option increased the total contract award by an additional $921,130 to a total of $1,021,092 and added 12 months to the contract duration. The Company has requested an extension of this contract option period through December 2018."

So both of their contract deliverables are late.

The first deliverable (for shootpacks) is so late it is ridiculous. They have now had over 2 years to produce a few sample shootpacks that measure about 4" x 4", and they still haven't made delivery.

The second deliverable (for 100 kgs of custom spidersilk) is due within the next month, and they have already admitted that they are going to be late on that as well.

They only have ONE customer - the Army. And they can't make ONE delivery to them. UNBELIEVABLE.