its traded volume jumped over 5 million shares for the day. An impressive change, considering the fact that there is no news about Kraig Labs these days.According to traders on investorshub.com, the high trade was a result of some agreement that is still not confirmed and as traders state they are “seeing buying from entities related to the other company”. Some other rumors were also discussed on the message board, however, all of these remained unproven. Looks like the assumptions have pushed up KBLB and the high trade was on. Though, it’s far too soon for an uptrend to be registered.
Historical records show that last month the stock was falling down on huge volume, despite the positive news by the company. In fact, KBLB has been jumping up and down regularly, however, the stock price was back down shortly. Apparently, the good news was not enough to hold the up move longer.[BANNER]
Kraig Biocraft Laboratories, Inc. develops protein-based fibers for commercial applications in both the specialty fiber and technical textile industries. As a development-stage company, KBLB has not generated any revenues by now, while its losses have been increasing progressively. The company’s liabilities are far beyond its total assets and the stockholders’ equity has been decreasing. Besides, the net loss has exceeded $1 million, as well as the stockholders’ deficit.
Due to the company’s limited operating history and incurred losses, the management concludes they have no sufficient cash for the next twelve months. This raises substantial doubt about Kraig’s ability to continue as a going concern as it is dependent on raising additional funds for performing the company’s business plan.
