KBLB

Kraig Biocraft Laboratories Inc (PINK:KBLB) Jumps

Shares of Kraig Biocraft Laboratories Inc (PINK:KBLB) were on uptrend on Thursday as the company came out with another development its transgenic silkworms.

KBLB on May 31, 2011 said that it successfully mated its transgenic silkworms and said that the results have shown an impressive rise in its production.

Shares of KBLB jumped about 20% yesterday as buyers rush to buy the stock, but this morning the stock corrected about 5% on profit booking.

If we look at the past, this is not a new thing for KBLB, every time the company announced the production increases, shareholders reacts positively, but that rally couldn’t sustain.

KBLB Fails to Impress Shareholders

Despite various positive outcomes, the company failed to impress their shareholders in showing financial improvements. The Kraig Biocraft Laboratories had huge deficit working capital for the latest fiscal year and had accumulated deficit of about $2 million during the development stage.

KBLB has a very low cash balance, which questions the company’s ability to running their operations unless it raises new money.

The KBLB stock has a 52-week range of $.01-0.26. It has a market capitalization of $88.03 million.


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