Monday, June 29, 2020 7:30:18 AM
For those that are new to KBLB...
The recent S-1 shows that about 125-150 MILLION shares will be diluted, and a reverse split of 30:1 or 40:1 will be coming soon.
https://www.sec.gov/Archives/edgar/data/1413119/000149315220010402/forms-1.htm
KBLB has NO SALES
KBLB has NO REVENUE
KBLB has NO CUSTOMERS
KBLB has NO CONTRACTS
KBLB has NO COMMERCIAL PRODUCTION
KBLB has NO PATENTS
KBLB is about $6 million in debt (yet somehow the CEO pays himself $1/2 million per year)
KBLB has never proven that they can attain commercial production. They even admit as much in the S-1:
- In 2015, KBLB announced that they were ready for "scale & sale". RESULT: We are all still waiting 5 years later.
- On April 2017, KBLB was supposed to make their 1st delivery to the Army for shootpacks (plural). RESULT: Nothing was delivered at that time. KBLB blamed the reeler. The Army graciously extended the due date to December 2017.
- In December 2017, KBLB was (again) supposed to make their 1st delivery to the Army for shootpacks. RESULT: Nothing was delivered at that time either. KBLB eventually blamed Warwick Mills for not being able to handle the "small quantity". They had to send the fiber to another weaver. Months later, KBLB (via Ben) said that the job had been bumped due to a rush order. Finally, in August 2018 (16 months later), they finally delivered something. Unfortunately, it wasn't shootpacks (plural). It wasn't even ONE shootpack. KBLB just delivered about a dozen fabric swatches.
- In August 2018, KBLB was supposed to make their 2nd delivery to the Army for 100 kilos of custom spidersilk. RESULT: They never delivered anything. Kim (the CEO) asked the Army for an extension until December 2018 and it was denied. Kim asked again (pretty please) for an extension until April 2019 and it was again denied. The contract ended. The Army walked away. KBLB lost about $1/2 million in funds for failing to deliver.
- In January 2020, KBLB was supposed to make their 1st commercial delivery from Prodigy, their subsidiary in Vietnam. RESULT: Nothing was ever delivered. KBLB blamed the cold winter weather and the lack of being able to obtain "quality mulberry". But it seems that "quality mulberry" was a code word for mulberry sprayed with insecticide (which killed all of the worms).
Their history is filled with forward-looking statements that are meant to pump the share price, but almost nothing is ever delivered...
Don't buy the hype (or the snake oil).
Recent KBLB News
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 08/16/2024 09:00:29 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 08:30:52 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 06/10/2024 08:30:30 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 06/04/2024 04:15:03 AM
- Form S-1/A - General form for registration of securities under the Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 11/22/2023 09:31:54 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 11/16/2023 09:30:34 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/13/2023 09:43:51 PM
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