ANN ARBOR, Mich.--(BUSINESS WIRE)--Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”) (“Kraig Labs”), the leading developer of spider silk based fibers, announced today the following letter to our shareholders from Kim Thompson, the Company’s Chairman, CEO, and founder.
Dear Kraig Biocraft Laboratories shareholders,
Our goal has always been to develop and produce the best spider silk based fibers. Our suite of technological innovations has positioned Kraig Biocraft Laboratories to remain firmly in the leadership role. 2019 brought us the beginning of production operations, perhaps the most significant milestone in the Company’s work to commercialize spider silk since the creation of the first transgenics.
This year, Kraig Biocraft Laboratories officially transitioned into the increased production and scalability phase of our operations. This operational focus will serve as the foundation in creating and maintaining long-term shareholder value. We are preparing to expand our footprint and deliver our largest ever commercial production of spider silk.
In the coming months the Company will be delivering the first shipment of finished silk from the factory in Vietnam. Simultaneously we are continuing to expand our production capacity. With these developments, we are now preparing to fulfill material deliveries to numerous end markets that we are targeting for growth in 2020.
With our focus on the advancement of commercialization activities, we have determined that this is the time to elevate the Company from the OTC Markets Venture Exchange to a national exchange. Our efforts to uplist to a national exchange are well underway, with several key pieces of this process complete. We have elected four new board members, who stand ready to take their positions to fulfill governance requirements of the national exchanges. We held our annual shareholder meeting and gained shareholder approval for our move to uplist.
Securing expansion capital and listing on a national exchange will immediately impact the Company. This capital will address national exchange listing requirements and serve to underpin the Company’s work to rapidly expand capacity, build the inventory to grow our business, bring new products to market, and establish sales channel partnerships. This growth will benefit all of our shareholders.
During the past 12 months our research team has been working quietly to deliver breakthroughs in technologies and new products in the lab. Accelerating our development time cycle with the addition of new personnel and processes has delivered technologies and transgenics which I believe will take us far beyond Dragon Silk. This year the Company continued to expand its intellectual property portfolio by filing the first five of many expected provisional patent applications. We are also vigorously prosecuting the patent applications previously filed in conjunction with the University of Notre Dame.
We have shown tremendous growth in 2019 by hitting nearly every mark in our business plan. That growth includes; obtaining approvals to commence rearing operations in Vietnam, completing the buildout of our factory in Vietnam, the initial scale up of our overseas production operations, advancements in our R&D and IP portfolio, strengthening our corporate governance in preparations for bigger things, and growth of our market cap by more than 285%.
Our corporate developments over the last year have given us lots of reasons to be thankful.
Kraig Labs is now preparing to take a giant leap that will enhance our global presence. Our management has been working hard over the last quarter to prepare for that leap and we believe those efforts will lead to even greater successes in 2020. We intend to use our new position as a launching pad.
While I am thrilled over our progress and growth in 2019, this is only the foundation upon which we intend to build. Our new assignment is to deliver spider silk to end customers and bring everything to fruition in 2020.
As we enter the holiday season I would like to express my personal appreciation to our shareholders. We are thinking of their long term interests with every corporate decision we make. I would also like to thank our exceptional teams at Kraig Labs and Prodigy Textiles. I have great appreciation for the Kraig Labs family, including our outside contractors.
Thank you all for your support, and I wish you and your loved ones a Happy Thanksgiving and a blessed holiday.
Kim Thompson, CEO, Chairman, and founder of Kraig Biocraft Laboratories, Inc.
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company, is the leading developer of genetically engineered spider silk based fiber technologies.
The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.
Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.