Kraig Biocraft Laboratories, Inc. S1 Registration is Declared Effective
LANSING, Mich., Jun 22, 2010 (BUSINESS WIRE) -- Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB ), a biotechnology company focused on the development of commercially significant high performance polymers and technical fiber including spider silk, is very pleased to announce that its S1 registration statement has been declared effective. The Company filed the S1 registration statement in October of 2009 and has been working diligently over the last nine months to obtain this clearance.
"After working on this for nearly nine months, we are very happy to announce that the SEC has informed the Company that its S1 registration is now effective," said CEO Kim K. Thompson. "The S1 registration lays the foundation for our financing program over the next twenty four months. When we originally filed the S1 our legal advisors told us that we could expect a delay of at least forty five days. Those forty five days ultimately turned into almost nine months. While we have been pursuing this clearance our legal advisors informed us that the Company should limit its public communication to avoid the perception of any promotion. We want to thank all of our shareholders for their patience during this arduous process and we look forward to what we now believe will be a very successful year for Kraig Biocraft Laboratories."
Kraig is working to develop and commercialize high performance polymers using spider silk gene sequences. The company plans to tap into the $92 billion market for high performance and technical fibers. In 2007 Kraig Biocraft Laboratories signed an intellectual property and collaborative research agreement with the University of Notre Dame. Since that time the Company has been a proud sponsor of scientific research and development within the university.
For more information on Kraig Biocraft Laboratories please visit the Company's web site: www.KraigLabs.com
About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. is applying its proprietary genetic engineering technology to find solutions in the areas of material science. Kraig has obtained the exclusive right, in their field of research, for the spider silk gene sequences which are at the core of their technology. These genetic sequences were first studied and subsequently patented by Dr. Lewis of the University of Wyoming. In early 2006, the company obtained certain exclusive rights from the University to utilize the sequences in our field of use. Spider Silk is among the strongest fibers produced in nature with potentially broad applications for consumers and industry in the multi-billion dollar marketplace for high performance polymers.
This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements included in this press release, other than statements of historical facts, address matters that the company reasonably expects, believes or anticipates will or may occur in the future. 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. Such statements are subject to various assumptions, risks and uncertainties. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those described in the forward-looking statements.
SOURCE: Kraig Biocraft Laboratories, Inc.
CONTACT: Kraig Biocraft Laboratories, Inc. Kim K. Thompson, CEO