Kraig Biocraft Laboratories, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Kraig Biocraft Laboratories, Inc. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

Kraig Biocraft Laboratories, Inc (KBLB) filed a Annual Report (10-K) with the SEC on April 1, 2024. Kraig Biocraft Laboratories, Inc. filed its 2023 Form 10-K on April 1, 2024. The company's fiscal year ends on December 31st. The filing covers the period from January 1, 2023, to December 31, 2023. The company is incorporated in Wyoming. The business and mailing address is 2723 South State Street, Suite 150, Ann Arbor, MI 48104.

Why It Matters

For investors and stakeholders tracking Kraig Biocraft Laboratories, Inc, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance, operations, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: low — Kraig Biocraft Laboratories, Inc shows low risk based on this filing. The filing is a standard 10-K annual report, which typically contains routine financial and operational information without immediate market-moving news.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Kraig Biocraft Laboratories' performance and outlook for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-01 — Filing Date (Date of submission)
• 10-K — Form Type (Type of filing)
• 83 — Public Document Count (Number of documents in the filing)

Key Players & Entities

• Kraig Biocraft Laboratories, Inc. (company) — Filer name
• 2723 SOUTH STATE STREET (location) — Business and mailing address
• ANN ARBOR (location) — Business and mailing address
• MI (location) — Business and mailing address
• 48104 (location) — Business and mailing address
• 2024-04-01 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• KBLB (ticker) — Ticker symbol

FAQ

Industry Context

Kraig Biocraft Laboratories operates in the materials science sector, focusing on advanced materials like spider silk.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (10-K).

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the Management's Discussion and Analysis (MD&A) for operational insights.
3. Examine the Risk Factors section for potential challenges and uncertainties.

Key Dates

• 2024-04-01: 10-K Filing — Submission of the annual report for fiscal year 2023.
• 2023-12-31: Fiscal Year End — End date of the reporting period.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings.

Key Financial Figures

• $0.041 — ed by reference to the last sale price ($0.041) price per share) of such common equity
• $3,000,000 — in the aggregate principal amount of USD$3,000,000 (the "Convertible Debentures"), which a
• $1,500,000 — Debenture") in the principal amount of $1,500,000 (the "First Convertible Debenture Purch
• $8 million — ber 2020 and March 2021, account for an $8 million total Yorkville investment; as of Novem
• $0.12 — Stock, at an initial exercise price of $0.12 per share and a warrant to purchase 4,2
• $0.14 — Stock, at an initial exercise price of $0.14 per share. The warrants have a term of
• $10,000 — Yorkville Transaction, the Company paid $10,000 to an affiliate of Yorkville, for due d
• $230,000 — received a cash placement agent fee of $230,000. Covid-19 On March 19, 2020, we fur

Filing Documents

• form10-k.htm (10-K) — 1694KB
• ex4-2.htm (EX-4.2) — 31KB
• ex19-1.htm (EX-19.1) — 25KB
• ex21-1.htm (EX-21.1) — 4KB
• ex31-1.htm (EX-31.1) — 8KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• form10-k_001.jpg (GRAPHIC) — 2KB
• form10-k_002.jpg (GRAPHIC) — 1KB
• form10-k_003.jpg (GRAPHIC) — 1KB
• form10-k_004.jpg (GRAPHIC) — 2KB
• form10-k_006.jpg (GRAPHIC) — 8KB
• 0001493152-24-012404.txt (&nbsp;) — 8411KB
• kblb-20231231.xsd (EX-101.SCH) — 54KB
• kblb-20231231_cal.xml (EX-101.CAL) — 56KB
• kblb-20231231_def.xml (EX-101.DEF) — 257KB
• kblb-20231231_lab.xml (EX-101.LAB) — 500KB
• kblb-20231231_pre.xml (EX-101.PRE) — 411KB
• form10-k_htm.xml (XML) — 1343KB

BUSINESS

BUSINESS 4 ITEM 1A.

RISK FACTORS

RISK FACTORS 15 ITEM 1B. UNRESOLVED STAFF COMMENTS 16 ITEM 1C. CYBERSECURITY 16 ITEM 2. DESCRIPTION OF PROPERTY 16 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 16 ITEM 4. MINE SAFETY DISCLOSURES 16 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY; RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES 16 ITEM 6. RESERVED 19 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 19 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 27 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 28 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 29 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 29 ITEM 9B. OTHER INFORMATION 30 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 30 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 31 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 34 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 38 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 39 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 40 PART IV ITEM 15. EXHIBITS 42 ITEM 16. FORM 10-K SUMMARY 43

SIGNATURES

SIGNATURES 44 3 PART I ITEM 1. DESCRIPTION OF BUSINESS. Overview Kraig Biocraft Laboratories, Inc., a Wyoming corporation, is a corporation organized to develop high strength fibers using recombinant DNA technology for commercial applications in technical textile. We use genetically engineered silkworms that produce spider silk proteins to create our recombinant spider silk. Applications include performance apparel, workwear, filtration, luxury fashion, flexible composites, medical implants, cosmetics and more. We believe that we have been a leader in the research and development of commercially scalable and cost effective spider silk for technical textile and non-fibrous applications. Our primary proprietary fiber technology utilizes natural and engineered variants of spider silk produced in domesticated mulberry silkworms. Our business brings twenty-first century biotechnology to the historical silk industry, permitting us to introduce materials with innovative properties and claims into an established commercial ecosystem of silkworm rearing, silk spinning and weaving, and manufacture of garments and other products that can include our specialty fibers and textiles. Specialty fibers are engineered for specific uses that require exceptional strength, flexibility, heat resistance and/or chemical resistance. The specialty fiber market is exemplified by two synthetic fiber products that come from petroleum derivatives: (1) aramid fibers; and (2) ultra-high molecular weight polyethylene fibers. The technical textile industry involves products for both industrial and consumer products, such as filtration fabrics, medical textiles ( e.g. , sutures and artificial ligaments), safety and protective clothing and fabrics used in military and aerospace applications (e.g., high-strength composite materials). We are using genetic engineering technologies to develop fibers with greater strength, resiliency and flexibility for use in our target markets, namely the s

View Full Filing

View this 10-K filing on SEC EDGAR