Replies to post #286394 on Kraig Biocraft Laboratories Inc (KBLB)

[bananarama]

Thanks for that 10K summary, A-man. This is one of the reasons why I love Kim Thompson. He is a belt and suspenders type of guy. This line is fantastic:

"Management continues to stockpile critical inventories and establish alternative supply and vendor chains as a precaution against future pandemics, disasters, or governmental actions."

This is the sign of a very responsible CEO. GO KBLB! :-).

[WebSlinger]

<< Once we achieve larger scale production, we plan to ship Dragon Silk yarn to various commercial entities including SpydaSilk Enterprises in Singapore >>

Singapore has been in the filings since January 2021 (over 4 years ago).

Kings is (or was) headquartered in Singapore (Nordcom Two, 2 Gambas Crescent, #06-10, Singapore 757044).

KBLB was supposed to make up to $40 MILLION from that 4-year deal, until it wasn't. Nothing ever came of that nonsense. $0 in revenue.

More BS lies from the Serial Liar in Chief....

<< Management continues to stockpile critical inventories >>

That phrase has been in the filings since March 2022 (about 3 years). I'm not sure how they are CONTINUING to stockpile inventory, when it hasn't changed at all in years.

Inventory on 31 Dec 2022: $6,580
Inventory on 31 Dec 2024: $6,580

Once again, more BS lies from the Serial Liar in Chief....

<< Debt cancellation of $20K >>

You really didn't think that one through.

First, a majority of that debt is coming from compounded interest that the Scumbag CEO is charging his own company (and hence shareholders). Instead of taking his salary and putting it in a conventional bank account (which basically receives little to no interest at all), like most people, he defers some of it with the company and charges between 3% and 7% interest, essentially turning the company into a very high-yield savings account. Who wouldn't want that?

"As of December 31, 2024, there was $3,128,768 in accrued interest on Mr. Thompson’s accrued salary; such interest accrues at the rate of 3% per annum."

Second, the Douchebag CEO made $448,532 in interest alone for 2024. That needs to be repeated. He made over $448K in interest alone in 2024. So $20K is a pittance compared to how much he is screwing shareholders.

"As of December 31, 2024, and December 31, 2023, there was $3,128,768 and $2,680,236, respectively, included in accrued interest – related party, which includes interest on accrued salary and accrued expenses owed to the Company’s Chief Executive Officer."

Third, it isn't like he just forfeirting the $20K entirely. He received a share of Series A preferred stock in return. That one share is worth 200 MILLION votes (or 0.0001 per vote). Who wouldn't pay $20K to control a large block of the company?