Kraig Biocraft Laboratories Inc (KBLB)

[DimesForShares]

Thompson can ask for another authorization to perform a reverse split at the next annual shareholders meeting. Since he has a controlling interest, whatever he proposes is assured of passage.

Permission to perform the reverse split expires on July 22nd. I'm guessing he does not want the full board to have to vote on this, because it might be unpopular. There is no specific deadline after the reverse split to uplist, although Thompson has to worry about a sustained share price sufficient to uplist.

Thus he could perform the reverse split prior to the ASM, get that out of the way, and uplist later in the year when times are right.

He can also postpone his efforts to uplist, vote to approve the reverse split again at the next ASM, and go through the process once KBLB is on better footing.

I wish he would choose the latter plan. Not sure why he his pushing the former.