Summary of KRAIG BIOCRAFT LABORATORIES, INC

Part I Item 2 Management's Discussion and Analysis of Financial Condition

Specifically the Company has amended the financial statements and supplementary data in the Form 10-Q to properly account for the embedded derivative liability associated with our CEO's employment agreement. For the convenience of the reader, the Company is re-filing its Form 10-Q originally filed on August 13, 2009 (the "Original Filing") in its entirety in this Form 10-Q/A. This Form 10-Q/A continues to speak as of the date of the Original Filing and other than with respect to items described above does not reflect events occurring after the filing of the Original Filing. Accordingly, in conjunction with reading this amendment to the Original Filing, you should also read all other filings we have made with the Securities and Exchange Commission since August 13, 2009.

KRAIG BIOCRAFT LABORATORIES, INC.

FORM 10-Q June 30, 2009 INDEX

PART I-- FINANCIAL INFORMATION

Item 1. Financial Statements 1
Item 2. Management's Discussion and Analysis of Financial Condition 17 Item 3 Quantitative and Qualitative Disclosures About Market Risk 19 Item 4T. Control and Procedures 19

PART II-- OTHER INFORMATION

Item 1 Legal Proceedings 20
Item 1A Risk Factors 20
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20
Item 4. Submission of Matters to a Vote of Security Holders 20
Item 5. Other Information 20
Item 6. Exhibits and Reports on Form 8-K 20

SIGNATURE

Item 1. Financial Information

Kraig Biocraft Laboratories, Inc. (A DEVELOPMENT STAGE COMPANY)

CONTENTS

PAGE 1 CONDENSED BALANCE SHEETS AS OF JUNE 30, 2009 (UNAUDITED)(

RESTATED ) AND DECEMBER 31, 2008.

PAGE 2 CONDENSED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX
MONTHS ENDED JUNE 30, 2009 ( RESTATED ) AND 2008 AND FOR THE PERIOD APRIL 25, 2006 (INCEPTION) TO JUNE 30, 2009 (UNAUDITED) ( RESTATED ).

PAGES 3 CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT FOR THE PERIOD FROM APRIL 25, 2006 (INCEPTION) TO JUNE 30, 2009

(UNAUDITED) ( RESTATED ).

PAGE 4 CONDENSED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED
JUNE 30, 2009 ( RESTATED ) AND 2008 AND FOR THE PERIOD APRIL 25, 2006 (INCEPTION) TO JUNE 30, 2009 (UNAUDITED) (RESTATED ).