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Friday, March 05, 2021 7:31:37 PM
Jon was not sent to Vietnam with the presumption that something would go wrong on the shipment. He was sent there to help out in case a low possibility event happened to something quite valuable to KBLB. In this case, KBLB evidently agreed with my assessment rather than those who felt the risks were so minimal they could be ignored.
Was KBLB living in fear? Or just taking prudent precautions with the company’s future?
KBLB quickly failed a production test. They used all of their eggs to grow silkworms in the off-season in Vietnam. If they had only saved 10% of their eggs in case something went wrong, the company would be in a very different situation now.
KBLB quickly failed on another test. When the pandemic began in China, KBLB knew they had no silkworms left in-country. The company perhaps felt it was unlikely that Vietnam would shut down travel for months and they would be unable to send replacements until late October. So they waited to send replacements.
Do you remember all the posts that claimed the pandemic would be over by May 2020? That hydroxychloroquine would stop it in its tracks? Oops. Even though this global shutdown seemed unlikely at the time, KBLB should have rushed a shipment to Vietnam, just in case. We lost an entire season on that bad call.
I seem to recall an old adage: Don’t put all your eggs in one basket. Living in fear? Prudence? I choose the latter.
And yes, bad tires and failed refrigeration have affected shipments in the past. Taking sensible precautions is not the same as ‘living in fear.’
Many on this board are asking for the same thing: proof of production. When we learn that a ‘small’ delivery has been made, that’s not what we were looking for. I suspect most of the voices will be quieted if/when KBLB ships a metric ton of silk and then repeats the event.
Why the high bar? Well, KBLB has started production at least twice before in the past, only for something to go wrong. In many minds, that suggests the level of production needs to be commercially useful (a metric ton) and sustainable (do it again).
Recent KBLB News
- 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
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 09/11/2023 08:30:50 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 09/08/2023 04:15:15 AM
- Form POS AM - Post-Effective amendments for registration statement • Edgar (US Regulatory) • 09/01/2023 08:30:52 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2023 08:35:05 PM
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