Friday, March 29, 2019 6:20:11 PM
One of the key quotes is:
"The Company has been in communication with the contracting office and is working with them as they determine the best path forward."
Basically, that is saying that there is no path forward (at this time). They have had 7 months since the contract ended to patch things up, but nothing has happened.
The next sentence is also very telling:
"Management believes there is a possibility of securing a follow-up contract to complete the delivery of all materials for the contract."
Note that "there is a possibility". Yeah, there is a possibility that I might hit the winning Lotto numbers as well, but the odds of that happening are pretty much zilch.
But the real question is:
Why would they need to "secure a follow-up contract to complete the delivery"?
The 2nd delivery that was due in Sep 2018 was for 200+ lbs of custom spider silk. KBLB failed to deliver on time (as usual). They then asked for an extension to Dec 2018 (another 3 months). They realized that they weren't going to make that delivery either, so they then asked for another extension to April 2019 (another 7 months). They obviously won't make that delivery either (since April is 2 days away and the work week has ended). But why would they need a "follow-up contract" to deliver the "materials for the contract"?
That seems to indicate that the contract for the 2nd delivery is now void, and they need a new "follow-on" contract to make the promised delivery.
Did the Army tell them to shove off and they are not interested in the 2nd delivery? If so, then they just lost their only customer...
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