Kraig Biocraft Laboratories Inc (KBLB)

[GTman1]

This should get us to revenue quicker

That's correct, Rayo.

And whether shareholders agree with it or not, this is exactly how pre-revenue biotech companies raise capital to extend their runways. I see it all the time on the Nasdaq.

Moderna (who's been all over the news with their coronavirus vaccine) did one a couple weeks ago. Heck, Intellia, who is maybe the 2nd or 3rd best CRISPr company, did one 2 days ago.

This is the understanding you come to when you buy stocks in biotech. Most flagship biotech products, especially new drugs, need to go through rigorous FDA and EMA trials. These take years which is why shareholders understand why these offerings are necessary. These offerings fund R&D, clinical trials, and manufacturing capabilities before revenues can be realized.

Kraig Labs, fortunately, doesn't need to go through FDA trials to market their flagship products. However, Kraig Labs creates GMO's which have their own rigorous scrutiny to pass in order to get approved. This is what took so long in Vietnam. The framework for GMO's needed to be built, and Kraig Labs operations needed to be open to public debate and questioning. There were public entities in Vietnam that didn't want Kraig Labs GMO's in their country. That debate is all over now and has been since August 2019.

So the idea that Kim just had to set up a worm farm and has failed is just utterly ridiculous. The GMO approval process in a foreign country, in a lot of ways, is more difficult then the very streamlined process of FDA and EMA approvals. The heavy lifting for our GMO approvals is done. Everything prior to August 2019 is on the bureaucracy of Vietnam. Although the process was a bit longer than it should have been do to a very small group of obstructionists, it's fairly understandable considering the government of vietnams obligation to protect the health and safety of it's people.

The ball has been in Kims court for about 10 months now. If we get to the 1 year mark without production, I might be more critical of him and Jon. The coronavirus isn't helping things but that is out of their control and something every industry is dealing with.