Kraig Biocraft Laboratories Inc (KBLB)

[WebSlinger]

KBLB never delivered ANYTHING that the Army had ordered. The 1st delivery was supposed to be for shootpacks (plural), and the 2nd delivery was supposed to be for 100 kilos of custom Spidersilk. Neither delivery was made (at all). KBLB delivered substituted fabric swatches (which they called shootpack panels) for the 1st delivery, and didn't deliver ANYTHING for the 2nd delivery.

While KBLB did receive some money, it was because the contract was a "cost-plus-fixed-fee contract". The Army contracts were budgeted for about $1 MILLION, but the Army took back about $1/2 MILLION because of the non-delivery.

See here for more details:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=162383919