Replies to post #228552 on Kraig Biocraft Laboratories Inc (KBLB)

[DimesForShares]

I don’t think NASDAQ sees things the same way you do.

Many of the world’s largest companies are listed on NASDAQ. Apple, Google, Microsoft, and Amazon are but a few. Here is a place where you can see more: https://www.nasdaq.com/market-activity/stocks/screener

Those listings alone combine to trillions of dollars.

KBLB has a market cap of about 75 million or so. If you had a half of a million companies like KBLB, that would add up to trillions.

NASDAQ wants to protect its reputation as a board where successful and profitable companies can be found. That is why there are minimum requirements to list on the board and minimum requirements to stay on the board. They don’t like de-listing companies. It’s embarrassing and and annoying. But they will kick companies off if they need to.

Similarly, they only want to list companies that have a good chance to stay on their board. There are consulting firms that do nothing more than work with companies attempting to list on NASDAQ. Only a small number qualifies for listing every year.

From what we can tell, Thompson took the ‘frugal’ approach to uplisting. There is no indication he engaged the services of a consulting company to help with the process. He indicated he has some consultants, but we don’t know who they are or what their credentials are. Note that many companies will publicize their consultants to show how professional and serious they are about the uplisting process. Similarly consultants will publicize their clients.

Thompson treated the listing requirements as a checklist. Once he checked off each box, uplisting would happen. If you go back to my postings around the time that the intention to uplist was announced, I argued that the requirements were indications and NASDAQ specifies they can look at other issues. A company that barely qualifies on several requirements will receive extra scrutiny. That’s what happened.

NASDAQ has not disciplined their employees for their actions. They simply did what they are paid to do: give guidance to companies hoping to uplist, but aren’t strong enough to survive on NASDAQ. Their advice has helped the prospects for KBLB to be a successful business.

The NASDAQ agents reviewing KBLB for uplisting will not be happy that the company has no true BoD or held an annual shareholders meeting for more than 2 years. Early on, Thompson promised to do both things. Two years later, they haven’t been done. They may allow KBLB to uplist on the promise to do those activities, but they also may push back again. It would not surprise me to see KBLB seat their BoD and hold a shareholder meeting a month or more before uplisting is approved. If it ever is.