Really? How smooth should things go for a company, and now Joint Venture, bringing "The Next Biggest Technological Advancement in Clothing" to market?
These FACTS say things are "not smooth?"...
November-KRAIG BIOCRAFT LABORATORIES COMPLETES CLOSEOUT OF $8 MILLION FINANCING, EXTINGUISHING ALL CONVERTIBLE DEBENTURES WITH YORKVILLE ADVISORS
September-Announces that it has contracted Jeff Dorton, a top textile expert to assist the Company in developing new and innovative yarns and fabrics utilizing Dragon Silk™.
“I have known Jeff since his time with The North Face, and I am thrilled to partner with him to create Kraig Labs’ first custom yarns and fabrics. Jeff is a highly regarded textile expert with a storied history of developing new textile technologies. He has directed key initiatives for some of the planet’s biggest brands, and we can’t wait to see what we can do together. While his ability to develop high-performance yarns and fabrics may be unmatched, we share Jeff’s passion for sustainability and textiles that are functional and desirable,” stated Company COO Jon Rice.
August-Attendance at Vietnam’s premiere textile and garment industry exhibition, SaigonTex.
“We are happy to see the return of SaigonTex, Vietnam’s premiere textile exhibition. The re-opening of this major international exhibition is evidence that the textile industry is roaring back. This event was a great opportunity for members of our SpydaSilk team to network with many new potential production partners as we work towards the first apparel launch,” said Company COO Jon Rice.
July-Signing of its first 3rd party production contract for large scale manufacturing of the Company’s recombinant spider silk.
“Our business model was designed to leverage the existing silk production infrastructure. The signing of this agreement rapidly expands our access into that production network and brings us to the next critical stage in our business plan,” said Company COO Jon Rice. “Working with this contract manufacturer, we will soon be ready to deliver metric tons of eco-responsible and cost-effective spider silk to the consumer markets.”
July-Announces that it has produced several new lines of larger hybrid Dragon SilkTM silkworms for its production operations in Vietnam. These new breeds of silkworms were explicitly created for large-scale production. “Today, we announce that this technology is in the factory. This technology will lower our operating costs from rearing all the way through silk reeling and spinning. Over the coming months, our production team will transition egg production to this new, larger Dragon Silk line.”-KBLB COO, Jon Rice
June-Over the course of multiple meetings between Kraig Labs, Kings Group, and the garment manufacturer, conducted while the Company’s COO was in Vietnam this month, the Company finalized its manufacturer choice for the first apparel launch under the SpydasilkTM brand.
In partnership with Kings Group, the Company has already delivered its recombinant spider silk yarn and a non-spider silk fabric swatch for use in developing a brand new fabric built upon the performance and feel of the Company’s spider silk.
“The network we have assembled to launch Spydasilk brings together top textile science, fashion, marketing, and branding experts. Our vision for the mass production and distribution of products built upon the amazing capabilities of spider silk is now quickly becoming a reality.”-KBLB COO, Jon Rice
June-Key Kraig Labs management team members traveled to Vietnam to review the results of a series of pilot production runs completed by one of the silk production subcontractors the Company has been working with in preparation for entering the next phase of its business plan. The subcontractor pilot program exceeded management’s expectations to the point that Kraig Labs is now finalizing the terms of a 5-year production contract. This joint effort, by the subcontractor and Prodigy Textiles, the Company’s Vietnamese subsidiary, has already completed production of the raw recombinant spider silk needed for the first apparel launch under the Company’s jointly owned apparel brand, SpydasilkTM.
During this trip, the Company’s top scientist has also been evaluating and updating production and science processes at Prodigy Textiles. A focus of his work has been bringing state-of-the-art technology into our Vietnamese lab to reduce and eliminate mundane silkworm pathogens known to impact global silk production and inhibited the Company’s production growth. Our facility is now one of the most advanced sericulture labs in South East Asia and is already enhancing the quality of our operations.
May-Announces the first sample shipment of its recombinant spider silk fibers and fabrics for use and evaluation into a range of biomedical applications. This shipment was made in response to the significant increase in the requests for its propriety spider silk technology, over the last two quarters, for tissue engineering applications.
“Over the last month, we have seen a significant increase in the demand from the medical field for our spider silk fibers and fabrics,” said COO, Jon Rice. “With the great work our team in Vietnam has done, increasing monthly silk production, we are now positioned to begin supplying R&D samples for this new and exciting end market. As these applications often require FDA approval, we believe the biomedical space has the potential to play an important role in the Company’s long-term growth. Over the coming months, we will be closely monitoring the results of these first tests and assessing additional opportunities for the spider silk gels and films that we have already developed into the broad field of biomaterials.”
May-Announces that it has strengthened its second-quarter production expansion with a new vendor quality assurance program. This new program will allow the Company to screen numerous mulberry suppliers and grow its database of trusted vendors.
“Prodigy Textiles is experiencing intensive growth,” said Company COO, Jon Rice. “Putting systems in place to ensure that we are able to sustain Dragon Silk’s™ record-setting performance levels is key to managing that growth and delivering cost-effective and eco-responsible spider silk. This new supplier verification process will give us the confidence to aggressively pursue the growth needed, by increasing feed efficiency and maintaining feed quality, to fulfill material demand for months and years to come.”
April-In support of the growing production capacity at the Company’s subsidiary, Prodigy Textiles, the laboratory team has dramatically increased the testing throughput. This quality testing is the bedrock upon which the Company has been growing its spider silk production operations. Once the team completes this testing cycle, it will have increased its throughput by nearly ten times that of Q1 2022.
March-The collaboration between the Company’s US and Vietnam lab teams has resulted in their first complete genetic screening of in-process production silkworms. This fifth generation of silkworms, now being reared in Vietnam, is the first production cycle of silkworms at the factory to receive 100% genetic screening. This level of testing, for Kraig Labs, was previously only available at the Company’s R&D headquarters is now being fully transferred to the Vietnamese lab team.
It surely is what it is.
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