Back in June, the Scumbag CEO stated that the inventory being reported in SEC filings was for finished silk.
"Regarding inventory calculation, our current inventory figures track finished raw reeled silk. In the first quarter of this year, we stockpiled several hundred kilograms of cocoon that are now waiting to be processed into finished silk. The reason inventory did not increase in our financial report was because that report tracked finished silk or material form."
Many of the pumpers on this board have been claiming that KBLB has finished many tons of silk in preparation for their 1st sale. We now know this was all BS (as usual).
Since inventory has not increased at all, that means that they have not finished any new silk up for the past year and a half (through the end of June).
In July, the Scumbag CEO stated that they had "one-third of the total spider silk required to fulfill a material request".
"the Company has now accumulated approximately one-third of the total spider silk required to fulfill a material request from a globally renowned European fashion house."
It seems obvious now that this was complete BS.
In short, KBLB still hasn't produced ANY finished silk in the past year and a half (when they pinky-swear promised that they would have a metric ton last year, and they also stated that they would have multi-tons this year).
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