🔍 KBLB PR Claims vs. SEC Filings: Facility Inventory Check
Earlier in the week, I reported on the discrepancies between what KBLB claims in their PRs vs what they are reporting in their SEC Filings regarding facilities.
In short, KBLB is claiming (in the PRs) to have multiple facilities, but none of them are reported in the SEC filings.
The recent SEC 10-Q quarterly financial released yesterday shows that nothing has changed. The 10-Q is completely consistent with prior filings.
Here's the breakdown:
🏢 Properties / Leases in the Q1 2026 10-Q
The filing discloses exactly the same facilities as before:
1. Ann Arbor, MI — "executive office", $2,508/year for mail, fax, and reception only (basically just an upgraded PO Box) 2. Lansing, MI — 5,000 sq. ft. R&D lab, extended through September 30, 2028, at $50,008 / $52,808 / $55,608 annually 3. Vietnam (ended) – A 6,000 sq. meter building lease signed July 1, 2021 for five years, ended in 2025. 4. Lam Dong, Vietnam (terminated) – A 700 sq. meter facility signed Jan 31, 2024, terminated during Q3 2024 — the company "does not occupy or use the facility" and impaired the asset. 5. Lam Dong, Vietnam (current) – An 80 sq. meter facility signed September 20, 2024, running through December 31, 2030, at ~$7,200/year.
That's the complete disclosed property footprint — unchanged from the FY2025 10-K.
🚨 What's Still Absent
The Q1 2026 period (January–March 2026) is precisely when the PRs claimed new facilities were made:
Jan 7, 2026 — "Kraig Labs takes possession of three mulberry fields" Jan 12, 2026 — "Kraig Labs takes possession of third rearing center"
None of these appear anywhere in Note 4 (Right to Use Assets and Lease Liability), the balance sheet, or the capex line. Capital expenditures for the entire quarter were just $14,116 — total — on lab and office equipment.
The fact that the PRs are saying one thing and the SEC filings are saying another is a HUGE red flag.
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