Kraig Biocraft Laboratories, Inc.
For the period ended Jun 30, 2026. Filed Aug 13, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 13, 2026
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What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-14.
0001493152-26-023130
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-13.
0001493152-26-037818
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 66 previous paragraphs and 84 current paragraphs.
48 unchanged; 18 reworded; 9 added; 0 removed; 0 previous and 9 current paragraphs rearranged.
Tables are not compared: 3 previous and 4 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (9)
Current report
General and Administrative Expense: General and administrative expenses increased by $30,346 or 8.82% to $374,381 for the three months ended June 30, 2026, from $344,035 for the three months ended June 30, 2025.
Current report
Our general and administrative expenses for the three months ended June 30, 2025, consisted of other general and administrative expenses (which include expenses such as auto, business development, SEC filings, investor relations, general office, warrants and shares issued for services) of $200,262, travel of $15,421, and office salary of $128,352 for a total of $344,035.
Current report
Gain from sale of investment in gold: Gain from sale of investment in gold decreased by $62,469 to $0 for the three months ended June 30, 2026 from $62,469 for the three months ended June 30, 2025. This decrease was due to the Company’s partial sale of its investment in gold.
Current report
Six months ended June 30, 2026, compared to the six months ended June 30, 2025
Current report
General and Administrative Expense: General and administrative expenses increased by $217,061 or 33.25% to $869,947 for the six months ended June 30, 2026, from $652,886 for the six months ended June 30, 2025.
Current report
Our general and administrative expenses for the six months ended June 30, 2025, consisted of other general and administrative expenses (which include expenses such as auto, business development, SEC filings, investor relations, general office, warrants and shares issued for services) of $368,423, travel of $26,321, and office salary of $258,142 for a total of $652,886.
Current report
Interest Expense: Interest expense increased by $17,498 to $299,832 for the six month period ended June 30, 2026, from $282,334 for the six month period ended June 30, 2025. The increase was primarily due to interest on certain Company loans.
Current report
Gain from sale of investment in gold: Gain from sale of investment in gold decreased by $62,469 to $0 for the six months ended June 30, 2026 from $62,469 for the six months ended June 30, 2025. This decrease was due to the Company’s partial sale of its investment in gold.
Current report
Interest Income: Interest income increased by $25,658 to $30,117 for the six month period ended June 30, 2026, from $4,459 for the six month period ended June 30, 2025. The increase was primarily due to an increase in interest on money market fund.
Reworded paragraphs (18)
Previous wording
On January 21, 2025, we entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, LTD., a Cayman Islands exempt limited company (the “Investor”). Capitalized terms used herein, but not otherwise defined, have the meaning ascribed to such terms in the SEPA, a copy of which is filed herewith as Exhibit 10.10. As of March 31, 2026, the Company issued a total of 45,384,194 shares of Common Stock in exchange for $4,118,654 under the SEPA.
Current wording
On January 21, 2025, we entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, LTD., a Cayman Islands exempt limited company (the “Investor”). Capitalized terms used herein, but not otherwise defined, have the meaning ascribed to such terms in the SEPA, a copy of which is filed herewith as Exhibit 10.10. As of June 30, 2026, the Company issued a total of 54,166,681 shares of Common Stock in exchange for $5,246,613 under the SEPA.
Previous wording
Research and development expenses: During the three months ended March 31, 2026, we incurred $66,701 of research and development expenses. During the three months ended March 31, 2025, we incurred $23,876 of research and development expenses. This was an increase of $42,825 or 179.36% in 2026 compared with the same period in 2025. This increase was due to an increase in research spending.
Current wording
Research and development expenses: During the three months ended June 30, 2026, we incurred $64,369 of research and development expenses. During the three months ended June 30, 2025, we incurred $63,888 of research and development expenses. This was an increase of $481 or 0.75% in 2026 compared with the same period in 2025. This increase was due to an increase in research spending.
Previous wording
Professional Fees: During the three months ended March 31, 2026, we incurred $70,835 of professional expenses, which increased by $7,800 or 12.37% from $63,035 for the three months ended March 31, 2025. This increase was primarily due to an increase in professional fees and in investor relations services.
Current wording
Professional Fees: During the three months ended June 30, 2026, we incurred $69,862 of professional expenses, which increased by $26,237 or 60.14% from $43,625 for the three months ended June 30, 2025. This increase was primarily due to an increase in professional fees and in investor relations services.
Previous wording
Officers Salary: During the three months ended March 31, 2026, officers’ salary expenses increased to $192,398 or 4.15% from $184,730 for the three months ended March 31, 2025. This change was primarily due to 6% annual increase for the Company’s CEO.
Current wording
Officers Salary: During the three months ended June 30, 2026, officers’ salary expenses increased to $194,821 or 4.63% from $186,197 for the three months ended June 30, 2025. This change was primarily due to 6% annual increase for the Company’s CEO.
Previous wording
Our general and administrative expenses for the three months ended March 31, 2025, consisted of other general and administrative expenses (which includes expenses such as auto, business development, SEC filings, investor relations, general office, warrants and shares issued for services) of $138,161, travel of $10,900, office salary of $129,790 and consulting of $30,000 for a total of $308,851.
Current wording
Our general and administrative expenses for the three months ended June 30, 2026, consisted of other general and administrative expenses (which includes expenses such as auto, business development, SEC filings, investor relations, general office, warrants and shares issued for services) of $205,852, travel of $17,804, office salary of $110,725, and consulting of $40,000 for a total of $374,381.
Previous wording
Net Change in Unrealized Appreciation and Depreciation on Investment in Gold Bullion: Net change in unrealized appreciation on investment in gold bullion decreased by $97,080 to $20,408 for the three month period ended March 31, 2026, from appreciation of $117,488 for the three month period ended March 31, 2025. This decrease was due to the Company’s partial sale of its investment in gold.
Current wording
Net Change in Unrealized Appreciation and Depreciation on Investment in Gold Bullion: Net change in unrealized appreciation on investment in gold bullion decreased by $64,004 to $74,015 for the three month period ended June 30, 2026, from depreciation of $10,011 for the three month period ended June 30, 2025. The increase was primarily due to a net change in unrealized appreciation on investment in gold bullion.
Previous wording
Interest Expense: Interest expense increased by $8,085 to $148,433 for the three month period ended March 31, 2026, from $140,348 for the three month period ended March 31, 2025. The increase was primarily due to interest on certain Company loans.
Current wording
Interest Expense: Interest expense increased by $9,413 to $151,399 for the three month period ended June 30, 2026, from $141,986 for the three month period ended June 30, 2025. The increase was primarily due to interest on certain Company loans.
Previous wording
Interest Income: Interest income increased by $4,459 to $10,805 for the three month period ended March 31, 2026, from $3,319 for the three month period ended March 31, 2025. The increase was primarily due to an increase in interest on money market fund.
Current wording
Interest Income: Interest income increased by $18,172 to $19,312 for the three month period ended June 30, 2026, from $1,140 for the three month period ended June 30, 2025. The increase was primarily due to an increase in interest on money market fund.
Previous wording
General and Administrative Expense: General and administrative expenses increased by $186,715 or 60.45% to $495,566 for the three months ended March 31, 2026, from $308,851 for the three months ended March 31, 2025. Our general and administrative expenses for the three months ended March 31, 2026, consisted of other general and administrative expenses (which includes expenses such as auto, business development, SEC filings, investor relations, general office, warrants and shares issued for services) of $327,097, travel of $8,470, office salary of $99,999, and consulting of $60,000 for a total of $495,566.
Current wording
Our general and administrative expenses for the six months ended June 30, 2026, consisted of other general and administrative expenses (which includes expenses such as auto, business development, SEC filings, investor relations, general office, warrants and shares issued for services) of $532,949, travel of $26,274, office salary of $210,724, and consulting of $40,000 for a total of $869,947.
Previous wording
Net Loss: Net loss increased by $400,980, or 66.83%, to a net loss of $1,001,013 for the three month period ended March 31, 2026 from a net loss of $600,033 for the three month period ending March 31, 2025. This increase in net loss was primarily attributable to increases in general and administrative expenses, professional fees, officers’ salary, and in research and development fees.
Current wording
Net Loss: Net loss increased by $526,089, or 39.67%, to a net loss of $1,852,255 for the six month period ended June 30, 2026 from a net loss of $1,326,166 for the six month period ending June 30, 2025. This increase in net loss was primarily attributable to increases in general and administrative expenses, professional fees, officers’ salary, and in research and development fees.
Previous wording
Our financial statements have been presented on the basis that we have a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As presented in the unaudited condensed financial statements, we incurred a net loss of $1,001,013 during the three months ended March 31, 2026, and losses are expected to continue in the near term. The accumulated deficit is $57,710,085 at March 31, 2026. Refer to Note 2 for our discussion of stockholder deficit. We have been funding our operations through private loans and the sale of common stock in private placement transactions. Our cash resources are insufficient to meet our planned business objectives without additional financing. These and other factors raise substantial doubt about our ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of our company to continue as a going concern.
Current wording
Our financial statements have been presented on the basis that we have a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As presented in the unaudited condensed financial statements, we incurred a net loss of $1,852,255 during the six months ended June 30, 2026, and losses are expected to continue in the near term. The accumulated deficit is $58,561,327 at June 30, 2026. Refer to Note 2 for our discussion of stockholder deficit. We have been funding our operations through private loans and the sale of common stock in private placement transactions. Our cash resources are insufficient to meet our planned business objectives without additional financing. These and other factors raise substantial doubt about our ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of our company to continue as a going concern.
Previous wording
Management anticipates that significant additional expenditures will be necessary to develop and expand our business before significant positive operating cash flows can be achieved. Our ability to continue as a going concern is dependent upon our ability to raise additional capital and to ultimately achieve sustainable revenues and profitable operations. At March 31, 2026, we had $2,890,990 of cash on hand. These funds are insufficient to complete our business plan and as a consequence, we will need to seek additional funds, primarily through the issuance of debt or equity securities for cash to operate our business. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to us. Even if we are able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing or cause substantial dilution for our stockholders, in the case of equity financing.
Current wording
Management anticipates that significant additional expenditures will be necessary to develop and expand our business before significant positive operating cash flows can be achieved. Our ability to continue as a going concern is dependent upon our ability to raise additional capital and to ultimately achieve sustainable revenues and profitable operations. At June 30, 2026, we had $3,391,646 of cash on hand. These funds are insufficient to complete our business plan and as a consequence, we will need to seek additional funds, primarily through the issuance of debt or equity securities for cash to operate our business. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to us. Even if we are able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing or cause substantial dilution for our stockholders, in the case of equity financing.
Previous wording
At March 31, 2026, we had a working capital deficit of $7,666,616, compared to a working capital deficitof $8,576,604 at December 31, 2025. Current liabilities increased to $10,783,506 at March 31, 2026, from $10,564,498 at December 31, 2025, primarily as a result of accounts payable - related party.
Current wording
At June 30, 2026, we had a working capital deficit of $7,326,899, compared to a working capital deficit of $8,576,604 at December 31, 2025. Current liabilities increased to $10,901,744 at June 30, 2026, from $10,445,245 at December 31, 2025, primarily as a result of accounts payable - related party.
Previous wording
For the three months ended March 31, 2026, net cash used in operations of $529,718 was the result of a net loss of $942,720 offset by depreciation expense of $6,222, net change in unrealized depreciation in gold bullions of $20,408, warrants issuance of $206,864, options issued for services of $10,157, imputed interest on related party loans of $18,395, a decrease in prepaid expenses of $4,176, an increase in inventory of $45,240, a decrease in operating lease right of use of $13,828, an increase of accrued expenses and other payables-related party of $217,158, increase in accounts payable of $14,977 and a decrease in operating lease liabilities of $13,127.
Current wording
For the six months ended June 30, 2026, net cash used in operations of $1,128,413 was the result of a net loss of $1,852,255 offset by depreciation expense of $13,324, net change in unrealized depreciation in gold bullions of $53,607, warrants issuance of $270,446, options issued for services of $20,314, imputed interest on related party loans of $36,790, an increase in prepaid expenses of $2,531, an increase in inventory of $105,075, a decrease in operating lease right of use of $33,749, an increase of accrued expenses and other payables-related party of $436,069, increase in accounts payable of $504 and a decrease in operating lease liabilities of $32,347.
Previous wording
For the three months ended March 31, 2025, net cash used in operations of $434,499 was the result of a net loss of $600,033 offset by depreciation expense of $5,683, net change in unrealized appreciation in gold bullions of $117,488, warrants issuance of $34,487, imputed interest on related party loans of $19,936, a decrease in prepaid expenses of $11,308, a decrease in operating lease right of use of $13,520, an increase of accrued expenses and other payables-related party of $195,647, decrease in accounts payable of $12,450 and a decrease in operating lease liabilities of $14,206.
Current wording
For the six months ended June 30, 2025, net cash used in operations of $902,624 was the result of a net loss of $1,326,166 offset by depreciation expense of $11,520, net change in unrealized appreciation in gold bullions of $107,477, gain on sale of gold bullions of $62,469, warrants issuance of $98,069, options issuance of $8,394, imputed interest on related party loans of $40,093, a decrease in prepaid expenses of $13,508, a decrease in operating lease right of use of $27,662, an increase of accrued expenses and other payables-related party of $413,426, increase in accounts payable of $34,514 and a decrease in operating lease liabilities of $28,698.
Previous wording
Net cash used in our investing activities were $14,116 and $0 for the three months ended March 31, 2026, and March 31, 2025, respectively. During the three months ended March 31, 2026, the Company had purchase of fixed assets of $14,116.
Current wording
Net cash used in our investing activities were $42,724 and $143,455 for the six months ended June 30, 2026, and June 30, 2025, respectively. During the six months ended June 30, 2026 the Company had purchase of fixed assets of $42,724. During the six months ended June 30, 2025, the Company had net proceeds from the sale investment in gold of $147,238 and purchase of fixed assets of $3,783.
Previous wording
Our financing activities resulted in a cash inflow of $1,644,588 for the three months ended March 31, 2026, which is represented by $1,644,588 proceeds from the sale of stock.
Current wording
Our financing activities resulted in a cash inflow of $2,772,547 for the six months ended June 30, 2026, which is represented by $2,772,547 proceeds from the sale of stock.
Previous wording
Our financing activities resulted in a cash inflow of $158,237 for the three months ended March 31, 2025, which is represented by $168,237 proceeds from the sale of stock and $10,000 payment in debt offering costs.
Current wording
Our financing activities resulted in a cash inflow of $881,367 for the six months ended June 30, 2025, which is represented by $881,367 proceeds from the sale of stock and $0 payment in debt offering costs.
Rearranged current paragraphs (9)
Current report — wording carried from elsewhere
Net Loss: Net loss increased by $183,402, or 25.26%, to a net loss of $909,535 for the three month period ended June 30, 2026 from a net loss of $726,133 for the three month period ending June 30, 2025. This increase in net loss was primarily attributable to increases in general and administrative expenses, professional fees, officers’ salary, with a slight offset in research and development fees.
Current report — wording carried from elsewhere
Our revenue, operating expenses, and net loss from operations for the three month period ended June 30, 2026, as compared to the six month period ended June 30, 2025, were as follows - some balances on the prior period’s combined financial statements have been reclassified to conform to the current period presentation:
Current report — wording carried from elsewhere
Net Revenues: During the six months ended June 30, 2026, we realized $0 of revenues from our business. During the six months ended June 30, 2025, we realized $0 of revenues from our business. The change in revenues between the quarter ended June 30, 2026, and June 30, 2025, was $0 or 0%.
Current report — wording carried from elsewhere
Cost of Revenues: Costs of revenues for the six months ended June 30, 2026, were $0, as compared to $0 for the six months ended June 30, 2025, a change of $0 or 0%.
Current report — wording carried from elsewhere
Gross Profit: During the six months ended June 30, 2026, we realized a gross profit of $0, as compared to $0 for the six months ended June 30, 2025, a change of $0 or 0%.
Current report — wording carried from elsewhere
Research and development expenses: During the six months ended June 30, 2026, we incurred $131,070 of research and development expenses. During the six months ended June 30, 2025, we incurred $87,764 of research and development expenses. This was an increase of $43,306 or 49.34% in 2026 compared with the same period in 2025. This increase was due to an increase in research spending.
Current report — wording carried from elsewhere
Professional Fees: During the six months ended June 30, 2026, we incurred $140,697 of professional expenses, which increased by $34,037 or 31.91% from $106,660 for the six months ended June 30, 2025. This increase was primarily due to an increase in professional fees and in investor relations services.
Current report — wording carried from elsewhere
Officers Salary: During the six months ended June 30, 2026, officers’ salary expenses increased to $387,219 or 4.39% from $370,927 for the six months ended June 30, 2025. This change was primarily due to 6% annual increase for the Company’s CEO.
Current report — wording carried from elsewhere
Net Change in Unrealized Appreciation and Depreciation on Investment in Gold Bullion: Net change in unrealized appreciation on investment in gold bullion decreased by $161,084 to $53,607 for the six month period ended June 30, 2026, from appreciation of $107,477 for the six month period ended June 30, 2025. The decrease was primarily due to a net change in unrealized appreciation on investment in gold bullion.