Kraig Biocraft Laboratories Inc (KBLB)

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***** A FEW NOTES FROM THE 10-Q *****

- $0 revenue

- Still no commercial production (after 14+ years)

- KBLB sold all of the Treasuries that they bought recently.

- A few more details were disclosed about their wimpy worms:

Production operations in 2022 and early 2023 were hampered by unseasonable climate fluctuations and poor robustness of the silkworm strains we were utilizing at that time. To address these challenges, we have taken significant steps to improve the genetics of our silkworms and radically improve our internal procedures at Kraig labs and Prodigy Textiles to strengthen our operations.

- Inventory still stands at $6,580, and hasn't changed at all since it was 1st reported (on the 10-K back in March).

- A few more details have been disclosed about inventory and GSS:

During the year ended December 31, 2022, the Company paid $98,480 as a deposit towards the purchase of inventory from a related party vendor (an entity in which we hold a 15% ownership interest – see below for Cost Method investment). As of September 30, 2023, the balance was $98,480 (See Note 10).

The Company holds a 15% direct equity investment in Global Silk Solutions Joint Stock Company, a private Company (see deposit on inventory above).

- KBLB is still paying Notre Dame for the 2019 note. KBLB still owes $50,244.

- Accumulated deficit in increased to $48,362,146.

- KBLB is still a "GOING CONCERN"

NOTE 2 GOING CONCERN
As reflected in the accompanying financial statements, the Company has a working capital deficiency of $5,525,153 and stockholders’ deficiency of $4,998,533 and used $916,762 of cash in operations for the nine months ended September 30, 2023. This raises substantial doubt about its ability to continue as a going concern.