Kraig Biocraft Laboratories Inc (KBLB)

[GTman1]

So, what does it mean in terms of uplisting?

This is literally what so many people on this board where begging for. A smaller, more manageable loan, with minimal dilution. Just enough until revenues come in and the company can grow organically, and even possibly uplist without a RS.

As long as Kim generates at least $5.5 in revenue within the next 12 months (the original $1MM from December is rolled into this one), than the terms of this agreement are better and much less dilutive than the original offering we were going to do with Maxim. This loan has a 10% interest so Kim needs to pay back $5.5MM in 12 months. It also comes with 8 million warrants (much much less than the maxim offering) that Yorkshire can exercise at a strike price of $.25 (better than maxims warrants if I remember correctly).

To me, this is an indicator that Kim believes revenues will be rolling in very soon. He is too overly cautious to take out a loan without knowing revenues are coming to pay it back and that production won't have anymore delays.

This almost certainly means the original maxim offering is on hold, and this current S-1 and uplist plan is on hold. Looks like he wants to raise the price naturally. Kim might have liked yorkshires terms better and pivoted this direction. I doubt Kim will come out with a PR stating all of this, but these action certainly look like thats the new plan. At this point there's no reason to add another $11MM from Maxim (although Maxim will still run as placement agent on this deal) if this extra $4M can get us to production.

I think this also might mean the quiet period is over.