Kraig Biocraft Laboratories Inc (KBLB)

[WebSlinger]

MtheMovement / Kings / Spydasilk Enterprises have been scrubbed from yesterday's 10-Q. This seems to indicate that the deal is dead and KBLB was kicked to the side of the road.

Here is the text that was in previous 10-Qs (ending 31 Mar 2024, 30 Sep 2023, and 30 Jun 2023):

"On November 23, 2020, we entered into a Strategic Partnership Agreement (the “SPA”) with Mthemovement Kings Pte Ltd (“Kings”). Kings is an eco-friendly luxury streetwear apparel line, part of the Kings Group of Companies and its affiliated companies. On January 25, 2021, the parties exchanged signatures for an amendment to the Agreement, which amended the procedures for termination of the SPA to only allow for the termination of the SPA by mutual agreement of the Company and Kings following a consultation period of 120 (one hundred and twenty) calendar days or such period as agreed otherwise between the parties (the “Amendment,” together with the SPA, the “Agreement”).

Pursuant to the Agreement, the parties formed a joint venture, SpydaSilk Enterprises Pte. Ltd., to develop and sell the Company’s spider silk fibers under the new innovative apparel and fashion brand, trade named SpydaSilk™ and potential other trademarks to be announced. All intellectual property related to SpydaSilk™ will be jointly owned by the Company and Kings."

That text does not appear in yesterday's 10-Q.

In addition, the following text was in the previous 10-Qs (ending 31 Mar 2024, 30 Sep 2023, and 30 Jun 2023) under the Plan of Operations:

"We plan to develop a line of fabrics and apparel under a joint venture with Kings to create a line of fashion wear under Spydasilk Enterprises Pte. Ltd., with trade names including SpydaSilkTM, SpydraTM and others."

This is the text that appears in yesterday's 10-Q:

"We plan to develop a line of fabrics and apparel, to create a line of spider silk based fashion and performance wear. The company plans to pursue this market entry in combination with one or more joint venture or development partners."