price to close at $0.0750 and its traded volume exceeded 23 million shares for the day. That’s a marvelous gain for KBLB, since its average volume totals about 1 million shares.As the company has not released much news on its business recently, there’s no reasonable explanation on the price jump. The only reason for it appears to be the series of promotional newsletters all over the net. Apart from the promotions, last week KBLB reported good news on its successfully created transgenic silkworms. In addition to the positive announcement, the company is planing a press conference later this month, though the date is not fixed yet.
At the end of August, the CEO of Kraig has issued a letter to its shareholders regarding the difficulties in the industry and projecting an “even brighter” future during the next 12 months. KBLB relies mainly on its laboratory researches and on new products to support its operations, however, its market position doesn’t look much stable.[BANNER]
Kraig Biocraft Laboratories, Inc. is a development-stage company that develops protein-based fibers for commercial applications in both the specialty fiber and technical textile industries. Historically, the company has traded much higher, though this month the stock is making an uptrend. However, no one can predict how long it will survive.
Since its creation, Kraig has generated no revenues and its net loss has been increasing. The company’s total liabilities are approximately 355 times higher than its assets.
According to these results, the present financial condition of Kraig appears to be disastrous and the company should find an urgent way to ensure its business.
