Kraig Biocraft Laboratories Inc (OTCMKTS:KBLB) stock continues to edge higher in the market as investors react to news it has taken possession of its production facility in Indiana. The stock continued with where it left last week, closing the first day of the week on the green having rallied by more than 45%. The momentum in the recent past has already sparked talk that the stock is on course to register a new 52-week high in the market.
Ramping Up Production
In a press release the maker of silk-based fibers says interior construction of the facility acquired has already began with the facility scheduled to be ready for operations as early as August 10. Once the interior construction is complete, Kraig Biocraft expects its production capacity to increase 20 times.
The upgrade comes just days after the US Army awarded the company a $1 million contract. The contract is for the supply of a batch of ballistic packs made from Kraig Biocraft dragon silk material that the army wants to use for testing body armor.
Buoyed by the new contract, CEO and founder, Kim K Thompson, reiterated that the contract award would help validate the longstanding belief that spider silk has the potential to act as a protective and lifesaving material. The company is also planning to use the new contract to expand its ability to design and engineer new innovative material solutions.
The upgrade is also expected to go a long way in helping the company expand its relationships with both industry and government agencies. Kraig Biocraft recently opened its first overseas office in Vietnam as it continues to look for ways to expand its silk production operation. With the expansion of its production facility, the company should be able to address any business opportunities that come up with the ongoing growth on the international scene.
Kraig Biocraft Laboratories Inc (OTCMKTS:KBLB) is planning to use its new office in Vietnam to seek approval for the establishment of a pilot production and advanced silkworm research center.
Iddriven Inc (OTCMKTS:IDDR) Forecasts robust growth for 2016
Iddriven Inc (OTCMKTS:IDDR) continues to trade sideways in the market after registering a 61.11% decrease in short interest. Even as the momentum on the stock appears to have eased, CEO, Arend Verweij, remains confident of the company registering robust revenue growth this year.
The enterprise software company is currently building a robust marketing and sales infrastructure that the executive remains confident will pay back in terms of returns. In a bid to support the sales infrastructure, Iddriven has also been busy in inking strategic collaborations with the likes of Zeva and Oxford Computer Group as the company looks to grow its business empire, both at home and on the international scene.
A partnership with technology-consulting firm PATECCO is expected to expand Iddriven Inc (OTCMKTS:IDDR) wings in Europe where the company hopes to generate a good chunk of its revenue in future.