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Re: Spumoni post# 208985

Tuesday, 12/15/2020 7:16:53 AM

Tuesday, December 15, 2020 7:16:53 AM

Post# of 278741
<< Does anyone know how much debt this company has? >>

According to the most recent 10K (dated 30 Sep 2020), KBLB is about $8.25 million in the hole ($6.9 million from last September + $1.35 million from the new toxic convertible debt they just got from the Cayman Islands):

"NOTE 2 GOING CONCERN

As reflected in the accompanying financial statements, the Company has a working capital deficiency of $6,908,522 and stockholders’ deficiency of $6,840,082 and used $994,557 of cash in operations for nine months ended September 30, 2020. This raises substantial doubt about its ability to continue as a going concern."


https://www.sec.gov/Archives/edgar/data/1413119/000149315220020935/form10-q.htm



From that, it looks like the company owed $6.9 million at the end of September. That number has now increased by at least $1.35 million (from the toxic convertible debt that they just got from the Cayman Islands).

This is also from the most recent 10K (dated 30 Sep 2020):

At September 30, 2020, we had a working capital deficit of $6,908,522 compared to a working capital deficit of $5,427,614 at December 31, 2019.

https://www.sec.gov/Archives/edgar/data/1413119/000149315220020935/form10-q.htm



In other words, the debt was $5.4 miliion at the end of 2019 and increased $1.5 million over the 1st 9 months of 2020.

So from the latest #s, KBLB is losing about $2 million per year (and that number is growing larger every year).
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