Replies to post #172319 on Kraig Biocraft Laboratories Inc (KBLB)

[EOT]

“It’s getting exciting! “

THE NEW WORLD FIBRE.
Big honour for these members

“Git ‘em while they’re cheap! “

Probably the best opportunity in our lifetime$$

[dillonview]

I have always believed in the product, if it could be produced. Now instead of keeping the eye on production of spider silk we are all cheering for the distraction of up listing. If we up list before confirming product on a mass scale this is going down. Don’t be distracted by the man behind the curtain. Demand production news. Protect your investment. Some of the great supporters over years are following this up list like it will be great. Does not appear that the market agrees.

[GTman1]

Check

Another item off the list!

What’s next?

Hi Red,

From my understanding, these are the next and final boxes to check before our uplist application to the NASDAQ can be approved:

1) Board of Directors meeting
A) Compensation Committee must meet (without Kim): They will determine, or recommend
to the full board for determination, the compensation of the chief executive officer and all other executive officers. This would include Kim and Jon's compensation. [ Rule 5605(d) ]
B) Audit Committee must meet: I'm not positive but I believe Julie Bishop may need to perform an Audit and create an audit charter. I don't belive this needs to happen before the uplist but Julie will likely need to do it prior to our next 10-K. It s required that this is done by someone skilled in finances which is likely why Julie was added. She is more than qualified. [ Rule 5605(c) ]
C) Nomination of Director: The independent board members (not Kim) will elect the fifth Director. This will likely be Jon considering he is the only other officer at the company. Trevor is a chief scientist, not a CSO. [ Rule 5605(e) ]

2)Adopt a Code of Conduct: This should be simple considering many codes of conduct can be found from other companies and tailored to Kraig Labs (if it hasn't been done already.

3) Increase Net Tangible Assets to $2 million: This can be done with a financing deal of ~$5-6 million or Kim forgiving most of his owed compensation (or a combo of both).

4) At this point, if the share price is below $3, a reverse split should occur to bring the price above $3. After this, and uplist would be imminent. It is possible that financing and production news could get us to $3

IMO, we will be getting a PR on financing very soon, and depending on how quickly the independent BOD's can meet, we may get info about Jon being elected by our independent BOD.