Replies to post #145308 on Kraig Biocraft Laboratories Inc (KBLB)

[WebSlinger]

<< The Company did receive over a million dollars from the Army... >>

Show me where that money is in the financials...

YOU CAN'T.

Why? Because they didn't receive it.

The contract only pays out when the Army receives deliverables.

In all of 2017 they only received $97K from the Army contract (out of a total of $1 million):

"For the years ended December 31, 2017 and 2016, the Company recognized $97,318 and $31,858 respectively in revenue from the Government contract."

"Revenue is recognized on cost-plus-fixed-fee contracts with the U.S. Government on the basis of partial performance equal to costs incurred plus an estimate of applicable fees earned as the Company becomes contractually entitled to reimbursement of costs and the applicable fees."

So far, in 2018, they have received another $260K:

"For the six months ended June 30, 2018 and 2017, the Company recognized $260,859 and $0 respectively in revenue from the Government contract. These revenues were generated for work performed in the development and production of the Company’s recombinant silks under the base and option period phases of our ongoing contract with the US Army."

That don't add up to a $million...

They still have a long way to go...

Maybe in 2019 or 2020 or ...