Kraig Biocraft Laboratories Inc (KBLB)

[Dan245]

Clarification this morning from IR (with permission):


From Me:

Hello Ben,
Hope everything is well with you. Can you confirm that the samples delivered to Spydasilk do not contain our new silk, and if so, can you comment on why this step was necessary? Assuming the samples are approved, how long roughly will it take for the processing of our silk into the yards of fabrics mentioned? I'm thinking once actual silk is delivered, the value of KBLB should increase dramatically. Thanks for your time.



From IR:

Rather than waste our spider silk, the Companies first wanted to experiment with traditional silks to determine the best ratios for the desired blends. With the weavers now open they were able to do that. The Company has Dragon Silk to go now, so, after the PL Kings side provides feedback, they will begin the blended Dragon Silk fiber fabric runs.

Best regards,
Ben Hansel
720.288.8495

If I had to guess how things transpired, I don't think this was the original plan. according to the company they had planned to deliver the fabric blends to Kings group a few months ago, but due to lockdowns in Vietnam they were delayed and were looking for other solutions as stated in the Aug 27 pr:

The Company is pleased to announce that Prodigy Textiles, Kraig Labs’ Vietnamese subsidiary, has now produced enough silk to create a number of different fabric blends. These fabrics were designed in partnership with PL Kings for use in products under the jointly owned SpydasilkTM brand. The Company expected to have these fabrics produced in Vietnam by the end of the second quarter, but must now source mills outside of Vietnam. The increasing COVID-19 related restrictions in Vietnam and elsewhere are preventing the delivery of finished fabrics to PL Kings. The Company is now coordinating the export of its finished recombinant spider silk. This effort is being coordinated with PL Kings to identify alternative mills within the ASEAN region capable of producing these fabrics.

I think they probably tried different options including sending fibers to a different country to manufacture fabric blends. Those plans either didn't work out or things started improving in Vietnam and they decided to wait for the mills to open. As a compromise, while waiting for the mills to open, they decided to make blends with traditional silk which they could source outside of vietnam and produce blends with (also outside Vietnam). Not ideal, but would give the Kings group something to play with until the spider silk blends arrive. Not a bad idea and will definitely save KBLB some spider silk and Kings group time working on designs, but I doubt it was the original plan and I'm sure they'll be testing the spider silk blends as well, once they arrive. I also assume the samples were sent a while ago. The important thing is that the mills are now open and we are back in business.