KRAIG LABS CRITICAL UPDATES FROM THE LAST 5 MONTHS
The break in recent news flow may cause some to panic, but I would argue that it seems like we are headed for a breakout based on the comments from the press releases made over the last 5 months (see below). The team seems to be working under 2 timetables. The first is the short-term immediate success needed to prove viability, and the next is a long-term overarching plan to scale the success they achieve in short term.
The short-term plan looks to be coming to fruition in Q4 2022 and could possibly start to gain momentum as early as October. The company has stated That testing throughput has increased 10x, 85% of silkworms from the cycle announced 4 months ago would be used to launch Spydasilk, and 7/8 weeks later Spydasilk had enough raw spider silk to launch, developed swatches, purchased a minority stake in a manufacturer, and sent eggs to that manufacturer that are set to finish their delivery cycle around 10/10/2022. The estimated metric ton production of Spider silk to be on the horizen.
The long-term planning includes the 15% of eggs that were saved 4 months ago that has had a chance to run through 2/3 cycles, upgrades to the facilities for scaling testing and throughput, attending tradeshows, engaging the existing silk manufacturing industry in Vietnam to find the best 3rd party contractors for their production, reviewing contractor pilot runs, and securing a business license to operate in Lam Dong which is the heart of Vietnam's silk work rearing industry.
Kraig Labs is on a trajectory that is making the vision clear. Time is needed to engage the best partners for production and iron out the production/supply chain details. As this is happening, the labs are producing cycle after cycle of silkworms which should be growing exponentially. One thing is clear, they have produced enough viable spider silk from silkworms to fulfill a commercial product launch. Kraig Labs has entered the commercial phase of its business. All this time, effort, and money spent on research will now pay off, it is now just a matter of time.
Article 4/27/22 - "Once the team completes this testing cycle, it will have increased its throughput by nearly ten times that of Q1 2022."
Article 5/3/2022 - "...85% of all silkworms produced this month are slated for spinning and use in finished fabrics and garments. These materials will be dedicated to the Company's joint venture apparel brand, SpydasilkTM."
Article 5/17/2022 - "Over the last month, we have seen a significant increase in the demand from the medical field for our spider silk fibers and fabrics," said COO, Jon Rice.
Article 6/8/2022 - "In previous discussions, this manufacturer already outlined a production scale-up plan to produce as much as 200 metric tons of silk per year."
Article 6/21/22 "...completed production of the raw recombinant spider silk needed for the first apparel launch under the Company’s jointly owned apparel brand, SpydasilkTM"........."Based on the results of these first pilot runs and the contractors' production capacity, the Company is now on a path to producing metric tons of spider silk.".......... "...we are entering the next phase of our business plan, which includes rapid production expansion with subcontractors in parallel with the growth of our nascent joint venture apparel brand. Together, our teams from Kraig, Prodigy Textiles, and SpydasilkTM are showing significant and tangible success on all fronts"
Article 6/27/22 - "...the Company finalized its manufacturer choice for the first apparel launch under the SpydasilkTM brand."............"...the Company has already delivered its recombinant spider silk yarn and a non-spider silk fabric swatch for use in developing a brand new fabric built upon the performance and feel of the Company's spider silk."
Article 7/12/22 - "...signing of its first 3rd party production contract for large scale manufacturing of the Company's recombinant spider silk. The Company expects to immediately begin operations with this contractor to produce hundreds of kilograms of spider silk per month and to achieve production levels reaching multiple metric tons of spider silk per month as early as the first quarter of 2023. The contractor is in possession of the Company’s specialized eggs and anticipates a 90-day ramp-up for the first deliveries under the contract." (90 days from this article is 10/12/22)..........."Kraig Labs will become a minority owner of the silk producer."
Article 7/20/22 - "...the Company believes that this facility is now equipped to meet the production demand for its proprietary specialized spider silk silkworm eggs through 2025 and has the capacity to expand far beyond that"
8/17/2022 - "...newly established business license and facility in Lam Dong Province"
