"Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announces today that Jon Rice, the Company’s COO, held meetings with senior Vietnamese officials, in Quang Nam, and US government officials, at the US Embassy, in Hanoi, Vietnam, to advance its production ramp-up plan for Prodigy Textiles Co., Ltd."
apparently there is a sticking point somewhere that kblb needs the usda's/US governments help with..
big, small, normal..who knows?
"The Company has already received its business license for Prodigy Textiles and its investment authorization for up to $2.2 million, to fund the first phase of its spider silk commercialization scale up efforts in Quang Nam. This approved first phase includes the importation of the Company’s hybrid silkworms and production of Prodigy Textiles’ unique high performance silk."
they have up to $2.2 mil to get them thru phase 1..thats financing..they need to explain that..whether they begged , borrowed or stole the money is irrelevant...it needs to be explained in a pr..
the good news is for the first time they clearly state they have approval to import the worms and produce the silk..they have indicated that in the past, but I want clear confirmation..its unfortunate that that is necessary but that is the situation they have created..
"During the meeting with officials in Quang Nam, the Company requested an acceleration of the project schedule, including authorization and the investment license for the second phase of operations, with a total investment cap of up to $50 million"
this is the phase where the lab comes into play..im guessing that is the sticking point and why rice was still trying to get the usda to come up with whatever the Vietnamese wanted...it aint happening so hes trying to get US officials to explain why to the Vietnamese at the ministry level..
all of which, as far as I can see, is no real problem at all to kblb..we have approval to import worms and make silk...pilot production levels maybe, but its good enough for now..
the Vietnamese want a lab research facility...I don't see why we need one..but if the Vietnamese want one, and I believe they dearly do, they will simply have to approve one..its up to them now..
I think once we start cranking out silk and prove its value, all doubts and issues the Vietnamese have will be cast aside..
but we have to come through on our end..
at least that's the dream..
"Our meetings in Vietnam were highly productive. Working with officials in Quang Nam, our team of consultants, and US government staff in Hanoi, we have establish a clear plan and roadmap to accelerating our efforts to bring affordable spider silk to the global market,” stated Jon Rice, COO."
goals and objectives were set for the approval of phase 2..now its time for kblb to get er done...lets see if they can..
"The first phase of this effort is underway now and, based on our recent meeting, we hope to have authorization for the expanded phase two effort well ahead of our initial schedule"
here we go...spouting bs about being ahead of schedule when we don't even know what the schedule was..
one still has to make assumptions but at least things are clearer now...it does appear we are on our way in Vietnam..
and we are doing it faster than scheduled...whatever that means in reality..
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