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Kraig Biocraft Laboratories, Inc. Message Board

  • w.butler93 w.butler93 Dec 24, 2013 12:52 PM Flag

    new 10 Q/A 12/24 for march 2013

    who can read this and understand it?
    please tell me what it says
    merry xmas

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    • It says this:

      KBLB "inadvertently" buried a transaction involving 10,000,000 shares worth $400,000 that KBLB issued to Ben Hansel. We didn't think anyone would notice this "slight oversight" so we didn't get around to fixing it until now. Actually, we didn't want anyone to know about the transaction where KBLB funneled shares to Hansel's Family Trust which ended up in the hands of KBLB's stock promoter Brian Heckathorne.

      As previously reported in the current report on Form 8-K filed by Kraig Biocraft Laboratories, Inc., a Wyoming corporation (the “Company”) with the SEC on November 7, 2013, on November 6, 2013, the Board of Directors of the Company, concluded, based on the recommendation of management, that issuance of certain warrants to purchase 10,000,000 shares of common stock (the “Warrants”) to a consultant valued at $400,000 using the Black-Scholes option pricing model had not been accounted for in the financial statements of the Company for the fiscal year ended December 31, 2012, which financial statements should therefore be restated to correct this error. Consequently, the condensed financial statements of the Company for the fiscal quarters ended March 31, 2013 and June 30, 2013 included in the Company’s quarterly reports on Form 10-Q filed with the Commission on May 15, 2013 and August 19, 2013, respectively, contained the same error.

    • maybe this is a gift from KB--
      i'll try to decipher all this info--
      any help would be appreciated.

    • I don't even have to look at it to tell you what it says: we don't give a rip about our investors, we're just gonna ride this gravy train till we run out of track and hope the sec is too busy to chase us. Merry Christmas!

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