"It is important for our shareholders to understand that our diverse operations, securities compliance, and uplisting application are subject to numerous government and quasi-governmental authorities both here and overseas."
2 yrs ago i said the up list attempt was utterly stupid...i said nasdaq would NEVER approve a company like kblb for up list...and it STILL wont because kblb is STILL not worthy...WHAT IN THE HELL WAS KIM THINKING???..
for all those who kept asking me "how do you know nasdaq hasnt already approved kblb?"...smh...well now you know too...
"These agencies are in a position to impact our business, especially if they feel we have been critical of their activities, and it has been demonstrated to us that complaints and criticism can be met with harsh punishments."
no schitt sherlock!...and that goes double for communist Vietnam...
"This capital was also set to exceed the shareholder equity requirement by nearly 100%"
if i remember correctly, the shareholder equity requirement was $5 mil...so kim is saying he anticipated having $10 mil?....from where?...was he hoping to pay off that yorkville debt while not spending much of it?...is that way he was using the cost saving method of having samples shipped to michigan for testing?...and why we are now unable to get prodigy up and running?..because we dont have the needed equipment there?...and now, cant get the equipment there any time soon?...
frugality rears its ugly head YET AGAIN....back when people used to lavish praise on kim and his frugality, i warned that that frugality would come back to haunt shareholders...and it is doing so...over and over...
"Having met all listing requirements, we, along with our experienced uplisting consultants and investment banking allies, were surprised to receive a series of challenges to our listing that were not at all based on the listing standards."
how odd...i have zero experience with any of that and i TOLD you nasdaq wouldnt want you ...i said they would make you jump thru hoops...they arent adding extra requirements...they are throwing up walls to keep you out...
now start producing a product and make some money, THEN you got a shot...it was NEVER NEVER going to happen before that...i dont care who you have as allies and who you have consulting you...you may feel comfortable trying to share and spread the blame around...but as far as im concerned, there is only ONE ceo, and thats you...the buck stops there...
"The last, and hopefully final, of these additional challenges is to demonstrate end product sales."
it was ALWAYS going to be a requirement...it doesnt matter who says there are pharma companies and others on nasdaq with no sales...that is irrelevant...spiber has no sales and would be welcomed by nasdaq with open arms...but kblb aint no spiber...thats just how it is...
"For example, the spider silk that we produced is more than sufficient to produce the textiles and garments planned for launch and sale by Spydasilk Enterprises.'
it almost sounds like kim is saying he has enough to fulfill the kings group first order...but on the other hand, he didnt actually say that...
"We have been preparing for many of these challenges, putting systems in place to address vulnerabilities, but some of these efforts have been hindered further by restrictions that are also impacting our vendors and preventing them from fulfilling orders for equipment and supplies that we have placed."
right...all that crap should have been in place at prodigy a long time ago...and when you finally decided to do what should have been done in the first place, it was too late...
"However, as an international company, we are at the whim of numerous overlapping authorities, some of whom do not always appear to be acting rationally."
perhaps they dont appreciate being made the scapegoats for your bad decisions...sounds to me like things could have been easily handled if one had acted reasonably...but now when there are mandated gov shutdowns and other restrictions due to covid, we are complaining that no one will bend over backwards to help...smh
"and believe that our Prodigy production efforts confirm that broad commercialization of cost-effective and eco-responsible spider silk is on target."
i can see that they may be possible...but i cant see how in the hell it can be said they are still on target...lol
"as we have more finished spider silk on hand than at any point in the history of the Company."
i cannot recall a time when kblb has ever had more than a very small amount of product...so, without an amount be mentioned, the above statement means nothing...
"We are in a strong position to weather this storm."
sure...i suppose so...
"We intend to win this game."
well it aint gin rummy...so how about producing and selling some product...
for years, the whole idea was getting into vietnam...that was the hard part...
now, we've been in vietnam for years...still no product sold...
