On December 16, 2011, the Company issued 1,543,210 shares of common stock for $100,000 ($0.06/share).
On January 20, 2012, the Company issued 1,562,500 shares of common stock for $100,000 ($0.06/share).
On April 19, 2012, the Company issued 2,403,846 shares of common stock for $100,000 ($0.06/share).
On May 19, 2012, the Company issued 1,923,077 shares of common stock for $100,000 ($0.05/share).
On June 29, 2012, the Company issued 2,155,172 shares of common stock for $100,000 ($0.04/share).
On December 21, 2012, the Company issued 1,004,832 shares of common stock for $25,000 ($0.02/share).
On February 19, 2013, the Company issued 961,538 shares of common stock for $50,000 ($0.05/share).
On March 4, 2013, the Company issued 945,537 shares of common stock for $50,000 ($0.05/share).
On April 1, 2013, the Company issued 822,368 shares of common stock for $50,000 ($0.06/share).
On April 15, 2013, the Company issued 884,434 shares of common stock for $75,000 ($0.08/share).
On July 11, 2013 the Company issued 1,760,563 shares of common stock for $100,000 ($0.06/share).
On July 25, 2013 the Company issued 1,760,563 shares of common stock for $100,000 ($0.06/share).
On August 13, 2013 the Company issued 1,838,235 shares of common stock for $100,000 ($0.05/share).
On September 3, 2013 the Company issued 1,923,077 shares of common stock for $100,000 ($0.05/share).
On September 19, 2013 the Company issued 2,100,840 shares of common stock for $100,000 ($0.05/share).
On October 3, 2013 the Company issued 2,604,167 shares of common stock for $100,000 ($0.04/share).
On October 17, 2013 the Company issued 2,604,167 shares of common stock for $100,000 ($0.04/share).
On December 11, 2013 the Company issued 3,063,725 shares of common stock for $125,000 ($0.04/share).
On January 28, 2014 the Company issued 3,537,736 shares of common stock for $150,000 ($0.04/share).
On February 18, 2014 the Company issued 3,409,091 shares of common stock for $150,000 ($0.04/share).
On March 12, 2014 the Company issued 2,551,020 shares of common stock for $100,000 ($0.04/share).
(B) Common Stock Issued for Intellectual Property
On April 26, 2006, the Company issued 332,292,000 shares of common stock to its founder having a fair value of $180 ($0.000001/share) in exchange for intellectual property. The fair value of the patent was determined based upon the historical cost of the intellectual property contributed by the founder.
KRAIG BIOCRAFT LABORATORIES, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO CONDENSED FINANCIAL STATEMENTS
AS OF MARCH 31, 2014
(UNAUDITED)
(C) Common Stock Issued for Services
On May 8, 2006, the Company entered into a license agreement for research and development. Pursuant to the terms of the agreement, the Company issued 17,500,000 shares of common stock upon execution of the agreement. The Company also received a five-year call option from the license holder to repurchase 7,000,000 common shares at an exercise price of $150,000 or $.02 per share. The option gives the Company the right, but not the obligation to repurchase the shares of common stock. The call option expires May 4, 2011. As of June 30, 2011 the value of the stock was $.07 per share. The Company does not have the obligation to repurchase the shares.