I was personally saddened to see the biotechnology industry decimated by the financial meltdown that it had no part in creating.
I was determined that Kraig would not suffer the fate of others in our industry just at the time when we believed that we were on the verge of remarkable progress. We took immediate action and implemented a strategy which combined streamlining our already lean operations, a ten for one forward stock split and an S1 Securities registration. It has taken more than a year for that plan to play out, but in late June we were able to announce that our S1 had been declared effective.
What enabled Kraig to survive the financial meltdown when larger biotechnology companies all around us were collapsing was a combination of our innovative business strategy and our perseverance based on the knowledge of the importance and viability of our work. As a vital and essential part of our corporate community we want to thank you our shareholders for your vision and fortitude. We have now ridden together through some of the toughest times in our nation's financial history.
AND
Kim Thompson/Ben Hansel-March 30, 2012 Conference Call Transcript Excerpt:
BH: Do you believe that KBLB will remain a single entity, or will there be spinoffs?
KT:I am open to a spin off it if would be in the best interests of the shareholders, but I do not envision that happening in the immediately foreseeable future. We are still a small company, and we are stronger together than we would be broken apart.