KBLB (Kraig Biocraft Laboratories) Data Feed Was Temporarily Disrupted Last Thursday, October 7, 2010
October 10 2010 - 7:01PM
Marketwired
Kraig Biocraft Laboratories, Inc. (PINKSHEETS: KBLB) announced
today that numerous financial websites experienced a temporary
disruption in their Company related data stream last Thursday,
October 7, 2010.
The data stream interruption was the result of the largest
market makers changing trading platforms. "Apparently the largest
market makers have decided to run their trades through the pink
sheet system because of dramatic increases in OTCBB trading fees,"
said CEO Kim Thompson. "The change had nothing to do with our
corporate activity. We remain current on all of our filings and
will of course remain a reporting company. Our third quarter just
ended a few days ago on September 30th, and we anticipate filing
our 10Q in record time for Kraig.
"The migration of market makers from the OTCBB to the Pink Sheet
trading platform apparently began accelerating when the OTCBB
decided to increase the fees it charges market makers. When market
makers run their trades through a rival platform and give no part
of their business in a security to the OTCBB for a period of four
days or more, the OTCBB can list the subject security on its daily
list under rule 15c2-11. For reasons which have not been explained
by the OTCBB, this action resulted in the data stream disruption as
the OTCBB apparently did not provide advance notice to the
financial service websites or to the Company."
During the disruption the Company publicized that current data
might be obtained by adding .pk to the Company's symbol. As of this
writing, it appears that that is not necessary and that data flow
has been restored to KBLB. The Company thanks all of the financial
service websites and information technologies professionals who
worked during the day last Thursday to restore the flow of
information.
For more information on Kraig Biocraft Laboratories please visit
the Company's web site: http://www.KraigLabs.com
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," "plans," "expects," "anticipates,"
"foresees," "hopes," "develops," "researching," "research,"
"potential," "could" or other words or phrases of similar import.
Similarly, statements in this release that describe the Company's
business strategy, outlook, objectives, plans, intentions 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 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.
Contact: Ben Hansel (720) 288-8495 Email Contact
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