Kraig Biocraft Laboratories Inc (KBLB)

[DimesForShares]

Expect more delays in uplisting to NASDAQ.

NASDAQ requires ANNUAL shareholders meetings. The only one in recent memory happened in 2019. This requirement helps to protect shareholders. The fact that KBLB has not held an annual shareholder meeting in more than 2 years will disturb the folks at NASDAQ.

Similarly, NASDAQ requires a BoD and standing committees. Thompson has not seated his BoD yet. NASDAQ requires positive shareholder equity. KBLB is about $10 million in the red.

Thompson wants to start all of these things AFTER KBLB has uplisted to NASDAQ. But the fact that he has enjoyed the opportunity to move forward on these issues and has chosen not to speaks to the fact that he does not value these shared governance and fiscal responsibility ideals the way NASDAQ does. Two years ago, they may have told him he needed to produce before uplisting. That doesn’t mean he won’t get more pushback two years down the road without more progress on other matters.

Here is a plan for uplisting to NASDAQ:

1) Cancel the reverse split;
2) Seat the BoD;
3) Announce an upcoming shareholders meeting;
4) Thompson forgives all of the debt owed to him by KBLB
5) Produce, Produce, Produce

Those moves might not be enough to get the share price where it needs to be. In that case, the BoD can recommend a new (and more modest than 100-to-1) reverse split that is voted upon at the shareholders meeting.

In short, KBLB should look like a NASDAQ company before uplisting, not after.

By the way, NASDAQ did KBLB a big favor in not uplisting him back in 2019. With all the fumbles in Vietnam, KBLB’s share price would have tanked and KBLB would have found itself back on the OTC.