Replies to post #227383 on Kraig Biocraft Laboratories Inc (KBLB)

[DimesForShares]

I am saying that KBLB has never met several important requirements for listing on NASDAQ.

NASDAQ publishes its requirements for listing. You can find them here: https://listingcenter.nasdaq.com/assets/initialguide.pdf

Look for the Equity Standard for listing on the NASDAQ Capital Market. The table indicates several requirements. Among these:

1) shareholder equity must be at least $5 million.
2) share price must be at least $4 per share.

If you dig around further, you will see requirements for an annual shareholder meeting and a BoD with specific standing committees. I won’t go into detail about why this is the standard they are targeting, but there are reasons why the other 2 standards are less preferable.

None of KBLB’s SEC reports show a positive shareholder equity of $5 million. At no point in KBLB’s history has the share price been $4 or even $3 per share. Trust me on that one. These are not arcane and mysterious requirements known only to the cognoscenti. They are public and described clearly by NASDAQ.

Thompson submitted a plan to the SEC for a public offering and a reverse split. The public offering is needed to raise shareholder equity to $5 million and the reverse split is intended to raise the share price to at least $4/share.

Neither one has happened, as you well know.

Thompson understands quite well that KBLB has not met these requirements. He has submitted a plan that will meet them. I am not accusing him of lying on his note to shareholders. Instead I think he was being careless in his wording.

But the distinction between the plan and the reality is one that I suspect Thompson is not respecting the same way NASDAQ is. They know plans don’t always play out the way they are supposed to. A plan to lose 20 pounds is not the same as shopping for new pants because you have lost weight.

If KBLB already had a stable share price of $4/share and positive equity of at least $5 million and a functioning BoD and a history of annual shareholder meetings, their application would not have been met with such skepticism by NASDAQ.

[jetow]

"“Having met all listing requirements, we, along with our experienced uplisting consultants and investment banking allies, were surprised to receive a series of challenges to our listing that were not at all based on the listing standards."

In a world with foreign governments along with many unknown factors things are usually as clear as mud.

Kim may or may not be clear as to listing standards... the truth as I see it is he's got to produce or forget uplisting to NASDAQ.