ANN ARBOR, Mich., June 05, 2018 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB:KBLB) (“Company”), the leading developer of spider silk based fibers announces today that it is continuing its efforts to commercialize its spider silk based technologies. The Company has been proud to share information relating to the recent approvals for its Vietnamese subsidiary, Prodigy Textiles. The Company has been and will continue to be active in its investment relations program to ensure that our shareholders and the public are keep up to date with our accomplishments and plans for the immediate future.
At the request of OTC Markets Group, the Company has reviewed its investor relations (IR) program and the most recent publications to ensure that it is holding its IR program and all vendors to our strict guidelines and expectations. While the Company did not have editorial control over the recent publication by Stellar Media Group, LLC, the documents that we have reviewed, in our opinion, are truthful and factual. The publication by Stellar Media Group, LLC was paid for by ACN, LLC, who was engaged as part of the Company’s IR program, and was compensated as part of Company’s ongoing IR efforts. The Company reviewed the publication as soon as we were aware of it on May 25, 2018.
Our policy has been that our IR providers make full and complete disclosure of any compensation they receive and that all information is factual, or if an honestly held opinion, is stated as an opinion. We have always held ourselves and our vendors to these standards as is well known to our shareholders.
Kraig Labs has long standing and productive working relationships with Hansel Capital and Karolus Maximus Kapital going back 5 or more years. These two firms provide the Company with support for shareholder inquiries and investor relations services. The Company has hired and directed these two supporting firms to create and provide shareholders and the public with updates and news on the Company’s progress. As a reporting Company, with fully audited financial statements, compensation in the form of stock to Karolus Maximus Kapital and Hansel Capital for their IR services has been fully disclosed and reported in the Company’s SEC filings going back to 2011. The Company issued approximately 30,000,000 shares of stock in 2017 for IR services and there has been no issuance of stock to date in 2018 for IR services. These public filings can be found on the Company’s website or through the SEC EDGAR system. In addition, we require all IR vendors or subcontractors to disclose their compensation in every IR document that is viewed by the public or our shareholders.
Based upon the documents we have reviewed, both of these firms remain in compliance with our strict policies and the documents contained only factual statements about the Company or clearly stated and honestly held opinions. The Company appreciates the great work our IR support team has done. We are very much aware of the added burden our strict compliance policies place on them and we thank them for their work and efforts. As a publicly traded company with audited and publicized financials we are, and our vendors are, open to public criticism in everything that we do. Knowing that we are under a microscope, we have always endeavored to set a standard in transparency. All purchases or sales of Company securities by officers, directors, or control persons in the last 90 days have been done through a 10B5-1 trading plan and were property disclosed.
We believe that our independent IR team has done an excellent job of helping to share the exciting progress the Company is making. Our shareholders can expect to see us continue to work diligently to improve our fundamentals and to share the Company’s progress through all available and appropriate channels. Our recent announcement of our business licenses for our subsidiary in Vietnam are a major milestone for the Company and represent a strong shift to scaled production that we have been working diligently towards. The Company believes that the improvements in our fundamentals and spreading of the word of these positive changes, including the approvals from Vietnam and the creation of our subsidiary; through our website, press release, and investor relations providers have had a significant positive impact on our market dynamics. This is an exciting time for Kraig Labs and we believe there is a bright future for the Company and recombinant spider silk.
To view the most recent edition of Kraig’s Spider Sense quarterly newsletter and/or to sign up for Company alerts, please go to www.KraigLabs.com/newsletter
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.
Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com