Kraig Biocraft Laboratories Inc (KBLB)

[arachnodude]

Interesting...Wholly Owned Subsidiary Company:

A subsidiary company is considered wholly owned when another company, the parent company, owns all of the common stock. There are no minority shareholders. The subsidiary's stock is not traded publicly. But it remains an independent legal body, a corporation with its own organized framework and administration. Its day-to-day operations are likely directed entirely by the parent company, however.

Even more interesting...Foreign Private Issuer:

What is a “foreign issuer”? The federal securities laws define a “foreign issuer” as any issuer that is a foreign government, a foreign national of any foreign country, or a corporation or other organization incorporated or organized under
the laws of any foreign country.
Source: See Rule 405 (“Rule 405”) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 3b-4(b) of the Securities exchange Act of 1934, as amended (the “exchange Act”). What is a “foreign private issuer”? A “foreign private issuer” (“FPI”) is any foreign issuer (other than a foreign government), unless:
• more than 50% of the issuer’s outstanding voting securities are held directly or indirectly of record by residents of the united States; and
• any of the following applies: the majority of the issuer’s executive officers or directors are u.S. citizens or residents;
more than 50% of the issuer’s assets are located in the united States; or the issuer’s business is administered principally in the united States. A foreign company that obtains FPI status can avail itself of the benefits of FPI status immediately.

BOTTOM LINE:

Companies that qualify as a “foreign private issuer” benefit from many special exemptions under the US securities laws. Among other things, foreign private issuers are not required to file quarterly reports on Form 10-Q or current reports on Form 8-K