Replies to post #73215 on Kraig Biocraft Laboratories Inc (KBLB)

[abomination907]

INTERESTING lots of good info and maybe some questions answered in this 10-K...including this:

On October 15, 2013, the Company entered into an intellectual property agreement with a scientific researcher relating to the development of new
recombinant silk fibers. Under the terms of that agreement the scientific researcher will transfer to the Company his rights to intellectual property,
inventions and trade secrets which the researcher develops relating to recombinant silk. The researcher will receive 8,000,000 warrants of the
Company’s stock, exercisable 24 months from the date of the agreement. The researcher will also receive additional warrants when and if the
researcher develops advanced recombinant silk fibers for the Company’s use. Under the terms of the agreement the researcher will receive
10,000,000 warrants in the event that he develops a new recombinant silk fiber with certain performance characteristics, and another 10,000,000
warrants if he develops a second recombinant silk fiber with certain characteristics. If the consultant performs the contract in good faith the consultant
will be entitled to an additional 8,000 warrants. The warrants described in this note all contain a cashless exercise provision and are exercisable on the
24 month anniversary of the date on which they were issuable under the agreement.
On February 17, 2014, the Company entered into two consulting agreements with two consultants for independent technical expertise to further the
Company’s business plans and scientific research and development. As consideration for the services performed, the Company agrees to issue the
following to each of the consultants:
• Within 30 days of the date of this agreement, a warrant for six hundred thousand shares of the Company’s common stock to be
exercisable on the 14 month anniversary of this agreement for a period of 12 months with a cashless exercise provision.
• Within 30 days of the date of this agreement, a warrant for one million shares of the Company’s common stock to be exercisable on
the 20 month anniversary of this agreement for a period of 12 months with a cashless exercise provision.
• Within 30 days of the date of this agreement, a warrant for two million shares of the Company’s common stock to be exercisable on
the 32 month anniversary of this agreement for a period of 12 months with a cashless exercise provision.
• Based on the consultants reaching two sets of benchmarks, two separate warrants for one million five hundred thousand shares of the
Company’s common stock to be exercisable on the 28 month anniversary of this agreement for a period of 12 months with a cashless
exercise provision.
• On the three year anniversary, assuming the consultant acted in good faith and the Company’s board of directors approval, a warrant
for one million five hundred thousand shares of the Company’s common stock to be exercisable on the 28 month anniversary of this
agreement for a period of 12 months with a cashless exercise provision