Kraig Biocraft Laboratories Provides a Statement on the Market Response to Recent Company Milestones and Shareholder Communications
Kraig Biocraft Laboratories (OTCQB: KBLB) announced significant milestones, particularly the success of its spring production trials for spider silk. The company has heightened its investor communications and reviewed its investor relations (IR) program at the request of OTC Markets Group, ensuring all publications are compliant and factual. A recent editorial by 24/7 Market News highlighted advancements in spider silk, which the company verified as truthful. Kraig Labs has directed Hansel Capital and Karolus Maximus Kapital to provide shareholder updates, emphasizing a commitment to compliance and transparency. The company reported no insider trading or issuance of common stock in the past 90 days, except for the CEO acquiring one restricted share. Kraig Biocraft is focused on scaling production and maintaining high reporting standards.
- Spring production trials for spider silk were successful, marking a major milestone.
- Enhanced investor communication efforts to keep shareholders informed.
- Verified the accuracy of third-party publications about the company's advancements.
- Established strict compliance guidelines for investor relations activities.
- No insider trading or issuance of common stock in the last 90 days.
- Potential risks due to heavy reliance on third-party IR firms for communication.
- Strict compliance requirements may impose additional burdens on contractors.
- The company had no editorial control over recent third-party publications, despite verifying their accuracy.
Ann Arbor, Michigan--(Newsfile Corp. - May 15, 2024) - Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("Company"), announces that it remains proud to share information relating to its recent progress and the resounding success of the spring production trials. The Company has been and will continue to be active in its investor awareness program to ensure that our shareholders and the public are updated with our accomplishments and plans for the immediate future.
At the request of OTC Markets Group, the Company has reviewed its investor relations (IR) program and recent publications to ensure that it is holding its IR program and all vendors to our strict guidelines and expectations. The Company was made aware on May 13 of an editorial on 24/7 Market News highlighting recent advancements in spider silk production and the potential impacts on the market. This publication was drafted by a third-party contractor hired by the Company's IR team and included a full disclosure of financial compensation as required. While the Company did not have editorial control over the recent publication on 24/7 Market News, the documents that we have reviewed, in our opinion, are truthful and factual.
Our policy requires our IR providers to fully and completely disclose any compensation they receive and that all information is factual, or if an honestly held opinion, is stated as an opinion. Beyond the strict legal compliance our IR providers maintain, we have recently requested that they eliminate suggestions about how our operational breakthroughs may impact market responses.
Kraig Labs has long-standing and productive working relationships with Hansel Capital and Karolus Maximus Kapital. These two firms provide the Company with support for shareholder inquiries and investor relations services. The Company has hired and directed these two supporting firms to create and provide shareholders and the public with updates and news on the Company's progress. We are very aware of the added burden our strict compliance policies place on these contractors and thank them for their work and efforts.
With a series of production breakthroughs in the first quarter and early second quarter of 2024, the Company has significantly increased communication efforts to share these successes with its shareholders and the markets. The Company remains committed to delivering its vision of metric-ton scale manufacturing of spider silk.
As an SEC-compliant, fully reporting public Company, we hold the highest standards for reporting and public disclosure. No Company officers, insiders, control persons, or contracted third-party providers have traded in the Company's common stock over the last 90 days. No shares of the Company's common stock have been issued to any party in the last 90 days. The Company's CEO did acquire one restricted non-tradable preferred share in April 2024. As a part of its reporting requirements, all stock sales, convertible instruments, registered offerings, or private placements have been reported in our public filings found on the Company's website or through the SEC EDGAR system.
Our shareholders can expect us to continue to work diligently to improve our fundamentals and share the Company's progress through all available and appropriate channels.
Our recent announcements regarding the success of the spring production trials were a major milestone for the Company and represent a strong shift to scaled production. The Company believes that the improvements in our fundamentals and spreading of the word of these positive changes, including our advancements in production through our website, press release, and investor relations providers, have significantly impacted our market dynamics. This is an exciting time for Kraig Labs, and we believe there is a bright future for the Company and recombinant spider silk.
To view the most recent edition of Kraig's Spider Sense quarterly newsletter and/or to sign up for Company alerts, please go to www.KraigLabs.com/newsletter
About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of genetically engineered spider silk based fiber technologies.
The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.
Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company's future and expectations other than historical facts are "forward-looking statements." These statements are made on the basis of management's current views and assumptions. As a result, there can be no assurance that management's expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as "believes," "plans," "expects," "anticipates," "foresees," "estimated," "hopes," "if," "develops," "researching," "research," "pilot," "potential," "could" or other words or phrases of similar import. Forward looking statements include descriptions of the Company's business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209329
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