Kraig Biocraft Laboratories, Inc. (KBLB.OB) develops protein based fiber using recombinant DNA technology for commercial applications in the textile and specialty fiber industries. At present, the stock price is $0.25, after the jump by $0.06. However, this rise wasn’t influenced by the improving performance of the company. On the contrary, Kraig Biocraft has been going down from 2007 to 2008. Here are three main indicators:
1. Assets have decreased 9 times: in 2007 it was $118,000 while after a year it turned to $13,000.
2. In the meantime, liabilities of the company jumped up: the accounts to be paid increased by 84%.
3. Operating loss decreases slightly, i.e. by 25%, from $473,000 to $356,000.
As seen from the financial indices, there is nothing really positive about the company, especially what could influence the stock price rise. Under these circumstances, the following news could have affected this change. I am talking about the stock promotions. Quality Stocks was paid 1 million shares. The rise by 30% seems to have been influenced by this deal.
