10 Q Filing for Quarter Ending on March 31, 2008 Covers the First
Quarter During Which the Company's Shares Have Been Publicly Traded
Expansion of Kraig Research Initiative for 2008
LANSING, Mich., May 13, 2008 (PRIME NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCBB:KBLB) is pleased to announce that it has completed its financial report for the first quarter of 2008 and intends to file its 10 Q with the Securities and Exchange Commission later today. Kraig's 10 Q will be available on the EDGAR system and will also be available on the Company's website: http://www.KraigLabs.com.
The Company's shares began public trading on both the Bulletin Board and the Pink Sheets in late February. "2008 is proving to be an exciting year for Kraig," said the Company's CEO Kim K. Thompson. "Already this year we have been able to announce three provisional patent filings, including two filings by the University of Notre Dame pursuant to our intellectual property and collaborative research agreement with the University. Most importantly, the Company has also vigorously expanded the scope of the Kraig Research Initiative, which is our program for collaborative research and intellectual property development with leading universities."
The expansion of the Kraig Research Initiative is a central part of Kraig's plan to aggressively pursue and develop platform technologies for pharmaceuticals, diagnostics and materials science in 2008. "Our performance has already established the strengths and benefits of the Kraig Research Initiative and the material results that can be obtained by working in cooperation with large research institutions," continued Thompson. "Indeed, the progress that the Company has made in the last five months would not have been possible without our research and intellectual property agreements with the universities and without the ongoing work taking place in university laboratories."
Kraig Biocraft Laboratories is a technology company focused on the development of commercially significant high-performance polymers, technical fibers and diverse platform technologies. Based on proprietary genetic engineering technology, Kraig is working to develop and produce polymers and protein-based materials, including Spider Silk.
For more information on Kraig Biocraft Laboratories, please visit the Company's website: http://www.KraigLabs.com.
An audio interview discussing corporate developments is also available on the website.
The Kraig Biocraft Laboratories, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4817
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," "plan," "plans," "expects," "anticipates," "efforts," "foresees," "future", "forecasts," "estimates," "intends," "develop," "researching," "research," "goal," "opportunities," "potential," "possibility," "pursue," "could", "should" or other words or phrases of similar import. Similarly, statements in this release that describe the Company's business strategy, outlook, objectives, plans, intentions, marketing strategies, ongoing research, or goals should all be considered forward-looking statements. 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. Management cautions that its ability to further its research, and create commercially-viable products and execute on its marketing plans may be affected by the competitive environment, the Company's financial condition and its ability to raise sufficient capital to meet the financial obligations of its business plan and to fund its continuing operations.