Last time we took a look at Kraig Biocraft Laboratories Inc (PINK:KBLB) it was because of a paid promotion with significant compensation. Indeed KBLB did what most Pinks Sheets companies do when promoted – it had a quick surge and a quick drop.
Now, however, KBLB is dropping without a promotion. Yesterday, the price fell for a forth consecutive session. KBLB closed 5.61% down at $0.0925 with 1.7 million shares traded.
The price hadn’t dropped below 10 cents for over three months now. It seems shareholders are growing impatient and announcements of micro insertions just won’t do for the moment.[BANNER]
The results of the first round of insertions is expected in early fall, according to the latest press release. With the current price action and the idea that the earliest possible time for any kind of good news is at least a month away, some traders expect that KBLB may drop further down before any significant move up occurs.
Investors should also keep in mind that even when the news comes out it will probably be just the results of the insertions; actual production and commercialization are still further off into the future, and not even something guaranteed.
Until such time comes, KBLB’s balance sheet and income statement are not likely to start looking any better. That being said, the potential is still there, but shareholders will require something more tangible if they are to bring the price back up.
