Kraig Biocraft Laboratories, Inc.
120 North Washington Square, Suite 805
Lansing , Michigan 48933
August 24, 2010
Kraig Biocraft Laboratories has made great strides in the last several months, and I believe that we, as a company, are gaining significant momentum both in the laboratory and in terms of corporate developments.
On the corporate side, one of the most difficult challenges and hurdles faced by the Company was navigating the credit crunch and meltdown of the US and European financial sectors in 2008 and its aftermath. Many advanced biotechnology companies collapsed and permanently closed their doors as their sources of finance dried up. I was personally saddened to see the biotechnology industry decimated by the financial meltdown that it had no part in creating.
I was determined that Kraig would not suffer the fate of others in our industry just at the time when we believed that we were on the verge of remarkable progress. We took immediate action and implemented a strategy which combined streamlining our already lean operations, a ten for one forward stock split and an S1 Securities registration. It has taken more than a year for that plan to play out, but in late June we were able to announce that our S1 had been declared effective.
What enabled Kraig to survive the financial meltdown when larger biotechnology companies all around us were collapsing was a combination of our innovative business strategy and our perseverance based on the knowledge of the importance and viability of our work. As a vital and essential part of our corporate community we want to thank you our shareholders for your vision and fortitude. We have now ridden together through some of the toughest times in our nation's financial history.
Even before our S1 registration was declared effective, we had the confidence in our business model to negotiate a new collaborative research and development agreement with the University of Notre Dame. This agreement replaces our prior agreement with the university and places Kraig on sound footing for further scientific developments in 2010 and 2011. A word of acknowledgement for the work and vision of the university researchers and administrators is in order here.
Of course, while all this has been going on, and while the stock markets have fallen and partially risen, scientists, researchers and genetic engineers have continued to work for the creation and material development of the Company's vision for high performance polymers including most notably recombinant spider silk.
This morning the Company issued a press conference advisory. Kraig plans to hold a press conference for the purpose of announcing laboratory developments. I have tentatively scheduled the conference for mid to late September. This is a very exciting time for the Company.
While we as a company are greatly looking forward to September, I do believe that our future over the next twelve months will be even brighter. We appear to be gaining momentum in the laboratory, and we believe that in the coming months we will be able to build on the foundations that have been laid by our researchers over the last year.
Thank you again for sticking with us when promising technology companies all around us were collapsing. I do believe that the coming months of 2010 and most especially the coming year of 2011 will be the best and brightest for Kraig Biocraft Laboratories.
Kim Thompson, CEO
This document 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.