You will hear how great everything is with KBLB, but the reality is quite different. Here are the facts...
The Army contract ended on a bad note. KBLB was supposed to make 2 deliveries. The 1st delivery was for a few sample swatches. That delivery was late by about a year and half. So it took them over 2 years to make a few sample swatches. The 2nd delivery was for 200 lbs of custom spider silk, It was due last Sept. KBLB never made the 2nd delivery. KBLB asked for an extension, but never received it. It looks like the relationship between KBLB and the Army is over.
It took KBLB 5 years to get into Vietnam. And when I mean get into Vietnam, I mean to get a business license. It took them almost another year to get some eggs into Vietnam, since Vietnam is (rightfully) worried about GM animals. The silkworms have been sitting in a Vietnamese government installation for the past 4 or 5 months. Vietnam has not allowed KBLB to mass produce yet. Vietnam will have to approve mass production, and that might take many months or years (if it ever happens).
There is no production in the U.S. Only research.
KBLB is extremely low on funding. Every year they have to dilute shares to pay the bills.
Notre Dame is supposed to get a cut of KBLB profits (since they are the original owners of the IP). KBLB owed them a good amount of money (from the Army contract) and wasn't paying them for quite some time. So ND basically took KBLB to task and threatened to remove the IP (which would have made KBLB worthless). KBLB couldn't pay them money (since they don't have any), so KBLB diluted more shares and gave them stock.
The latest PR re: Polartec stated that they had a partnership. That is all.
KBLB spends about $1.8 million per year and currently has NO income. As of the end of last year, KBLB has accumulated a deficit of almost $27 million.
There is a lot more, but I think you get the gist...
