You have to look at the terms of the loan to understand what's going on. The critical fact you are missing is that the share price that KBLB receives for each withdrawals is based on the current share price at the time of the withdrawal.
This is highly advantageous to KBLB because the SP tends to go up over time. So compared to the usual practice of selling shares in one block in the begining, when the share price is usually lowest, KBLB gets much higher prices for its shares sold to Calm Seas (recently prices would have been in the teens vs about 1 cent in the beginning!)
Your error which is confusing you greatly, is to forget that the share prices received in the beginning where around one cent. So then KBLB got more than ten times the shares for the same money it does in recent months. So you took a payment done at one cent and judged it against today's prices and calculated the value received at that time as more than ten times what it was!
Calm Seas could have sold them then or kept them til now. If it kept them til now the additional 900%+ is it's just reward for keeping them as an investor during that period not as a payment. Exactly as someone who'd bought the shares at the going price when Calm Seas received them as payment would have done.
Frankly I am beginning to suspect that the apparent failure of many on this board to appreciate or acknowledge this may be more a result of being closet traders posing as longs than to a lack of understanding. Always do your own thinking: for a variety of reasons many posters on stock message boards keep a lot of their thinking to themselves or only reveal it at times they think it is to their advantage. IMHO there is more than a bit of that going on here.
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