Quarterly ResultMay 14, 2026, 04:39 PM
Kraig Biocraft Q1 Net Loss $(0.94)M; Cash $2.89M; Deficit Reduced
AI Summary
Kraig Biocraft Laboratories reported a net loss of $(0.94) million for Q1 2026, an increase from $(0.60) million in Q1 2025, with no revenue generated in either period. Despite increased operating expenses, the company significantly improved its cash position to $2.89 million and reduced its stockholders' deficit to $(7.06) million. This improvement was primarily driven by $1.64 million in proceeds from a Standby Equity Purchase Agreement. The company also completed the dissolution of its Prodigy Textiles subsidiary, transferring all production operations to Prodigy Silk Co., Ltd.
Key Highlights
- Net loss for Q1 2026 increased to $(942,720) from $(600,033) in Q1 2025.
- Cash and cash equivalents rose to $2,890,990 as of March 31, 2026, from $1,790,236 at Dec 31, 2025.
- Total stockholders' deficit improved to $(7,061,674) from $(7,998,958) at Dec 31, 2025.
- Received $1,644,588 in proceeds from a Standby Equity Purchase Agreement in Q1 2026.
- Operating expenses increased to $825,500 in Q1 2026 from $580,492 in Q1 2025.
- Research and development costs increased to $66,701 in Q1 2026 from $23,876 in Q1 2025.
- Dissolved Prodigy Textiles Co., Ltd., transferring operations to Prodigy Silk Co., Ltd.