Here you go...
According to the company...
1) Has the company uplisted yet? Because until they do,
according to the company…
Mr. Gupta’s term as a board member will begin prior to the Company’s proposed national exchange listing. Mr. Gupta will serve on the Company’s audit and compensation committees.
Ms. Bishop’s term as a board member will begin prior to the Company’s proposed national exchange listing. Ms. Bishop will serve on the Company’s audit and compensation committees.
Mr. Scheessele’s term as a board member will begin prior to the Company’s proposed national exchange listing. Mr. Scheessele will serve on the Company’s audit and compensation committees.
2) According to the company…
ANN ARBOR, Mich., – January 30, 2020 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announced that it has implemented new quality assurance management and production procedures at Prodigy Textiles, the Company’s Vietnamese subsidiary, based on lessons learned from its production rollout.
The Company embarked on an aggressive winter production rollout to accommodate urgent requests for materials from specific collaboration partners and potential customers. The result was a launch in what is normally the Vietnamese silk offseason. In this process we discovered and addressed two challenges, obtaining quality mulberry for feedstock and climate controls in the new facility during the offseason. The Company has addressed these issues as described below.
The production hiccup caused by the winter launch is not expected to impact the Company’s business plan or prospects. Kraig Labs intends to be first to market and is keeping the momentum going by continuing its breeding programs, as the Company’s plans to produce its first commercial batch of Dragon Silk are still in progress.
For the immediate production run, the winter temperature has resolved itself, as we enter February, which is generally considered a better month for rearing silk worms. Whereas, for the following winters, the Company will enhance its climate control protocols, to ensure uniform and consistent year round production.
Kraig labs has also taken steps to ensure that feedstock will not disrupt its future winter production cycle, by utilizing land set aside from the government to immediately plant an additional 40 acres of mulberry trees. This increased capacity and continuous supply of high quality mulberry is an important component of the Company’s production operations. This expansion of lands available to the Company and its work with the local farming cooperatives will allow for tighter control and ensure that this key input in readily available and of the highest quality.
Additionally, the Company installed and began utilizing specialized fiber testing equipment, which mirrors that of its research headquarter, in the United States, to monitor fiber performance, including tensile strength and elasticity. This equipment allows for the identification and selective mating of the best performing silkworms.
The Company has remained in communication with its collaboration partners, informing them of this temporary delay in shipping, who have been supportive of these production actions and look forward to receiving the highest quality fibers.
The Company’s technology is sound, as the tests of the Prodigy Textile production facility fibers mirror the results from its US laboratory. Kraig Labs will continue to monitor and implement procedures to ensure its product meets its high standards and its potential commercialization partners’ expectations.
3) When asked, sure. Here’s KBLB IR answering of their own accord when directly asked:
The primary focus of Kraig is a shift towards expanding and investing in our commercial production and sales channels. Dr Kane's departure is part of the Company's re-focusing of resources to align with those objectives.
Best regards,
Ben Hansel
720.288.8495
4) According to the company…
In 2016, we received a contract from the U.S. Army to deliver the first samples of its recombinant spider silk materials. In 2017, this contract was expanded to include research into the development of stronger silk materials. As a result of that contract, the Company brought its research operations in-house, opening its own research laboratories and expanding its scientific staff. This transition to in-house operations has led to a series of new technical breakthroughs and is believed to have accelerated the pace of new development. We intend to turn its technology to the development and production of high performance polymers.
With the funding we received from the U.S. Army, we were able to conduct our research and development in-house, at less cost, and therefore we did not extend the 2015 Notre Dame Research Agreement after September 30, 2017, but in the future we may consider forming new collaborative research agreements.
5) According to the company…
In February, 2019, we signed a non-binding memorandum of understanding (“MOU”) with Polartec LLC for the development of products for the protective textile markets.
The Company’s operations at its Prodigy Textiles facility are now moving forward to significantly expand the Company’s spider silk production. The Company expects to begin filling the backlog of material requests, including requests from Polartec LLC and M the Movement, as this added capacity comes online.
6) According to the company…
In January 2021 the Company announced its partnership and exclusive purchase agreement worth up to $40 million with M the Movement by Kings Group. This partnership will establish a jointly owned apparel and fashion brand headquarter in Singapore focuses on sales to the ASEAN region. With recent advancements in our manufacturing capacity, we expect to generate revenues from these relationships in 2021.
Commit to the purchase of material produced by KBLB to the amount of USD$3,000,000 (USD Three Million) in the first year from this SPA, USD$5,000,000 (USD Five Million) in the second year from this SPA, USD$12,000,000 (USD Twelve Million) in the third year from this SPA, and a commitment of USD$12,000,000 (USD Twelve Million) and projected purchase of USD$20,000,000 (USD Twenty Million) in the fourth year of this SPA.
The effective commencement date of this working relationship will be the date of the signing of this SPA and the working relationship shall remain in force for a period of 60 months from the commencement date.
Upon commencement, and as consideration for the exclusive sales agreement, MK will issue to KBLB a prepayment of $250,000 to be credited to the first shipment of spider silk thread.
7) According to the company…
On January 23, 2017 the Company signed an 8 year property lease with the Company’s President for land in Texas where the Company grows its mulberry. The Company pays a monthly rent of $960. Rent expense – related party for the nine months ended September 30, 2020 and 2019, was $9,819 and $11,913, respectively.
8) According to the company…
As stated elsewhere in this registration statement, the lack of sufficient financing has been our biggest hurdle to achieving the rate of growth management estimates is possible with our product. Without adequate funding, we are unable to expand operations and accept opportunities for large scale production of our products, and our progress toward commercialization has slowed. The funds from this offering will allow us to accomplish these goals, which management believes will increase shareholder value.
9) According to the company…
On April 16, 2020, we announced the successful development of a new technology platform, based on a non-CRISPR gene editing knock-in knock-out technology. CRISPR is the most recent and efficient gene editing technology3; CRISPR stands for “Clustered regularly interspaced short palindromic repeats.” This is our first knock-in knock-out technology of essentially pure spider silk transgenic. This new system is built on our eco-friendly and cost-effective silkworm production system, which we believe is significantly more advanced than any competing methods. On April 16, 2020, the Company announced that it successfully developed a new technology platform, based on a non-CRISPR gene editing knock-in knock-out technology. This is the first knock-in knock-out technology essentially pure spider silk transgenic in the Company’s history. The new technology, which is the result of over ten years of effort, hits the target of one of the Company’s primary technological goals and potentially opens the door for large scale U.S. production. Other than the silkworm’s remaining specifically desired native silk protein elements, we are now able to produce nearly pure spider silk. Based on our internal studies, the new technology has a purity rate that is about ten times greater than Dragon Silk, a fiber that the Company developed with its previous tools. Dragon Silk has already demonstrated to be tougher than many fibers used in bullet proof vests and the Company expects that the increased spider silk purity, created using this new approach, will yield materials beyond those capabilities. This new system utilizes the Company’s eco-friendly and cost-effective silkworm production system, which we believe is significantly more advanced than any of the competing methods. We have already begun the validation process for the first of these new transgenics and anticipate that U.S. production will be possible as early as 2022 or 2023.
Knock-in knock-out technology allows for the targeting of specific locations and genetic traits for modification, addition, and removal. This new capability will accelerate new product developments, which should allow us to bring products to market more quickly. This capability also allows for genetic trait modifications that were previously impractical, creating opportunities for products outside of silk fibers and increased flexibility in production location.
10) Reference #9
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I’ll refrain from providing any commentary beyond what the company stated as that would just be conjecture. But, this is what the company has to say about what was asked. It’s all there in the company’s filings and PR’s for anyone to read. I just did. Have at it.
