Naturalshrimp Inc - SHMP stock

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OTC Symbol: SHMP | OTC Tier: OTCQB

Introduction[edit]

NaturalShrimp, Inc. [OTCQB: SHMP] is a publicly traded aquaculture company with worldwide operations. The Dallas-based company develops technologies to produce fresh and gourmet-grade Pacific white shrimp (Litopenaeus vannamei). The firm has developed a patented proprietary technology that requires zero antibiotics, probiotics, or toxic chemicals to produce fresh, gourmet-grade shrimp. Its subsidiaries include NaturalShrimp USA Corporation (NSC), Natural Aquatic Systems, Inc., and NaturalShrimp Global, Inc. The firm's production plants are in La Coste, Texas, and Webster City, Iowa. Natural Aquatic Systems, its majority-owned technology subsidiary, uses its proprietary technology for aquatic species other than shrimp. The company aims to supply local markets globally with the freshest shrimp and seafood.[1] NaturalShrimp, Inc was founded by Bill G. Williams, Gerald Easterling, and Thomas Untermeyer in 2001. The company’s shares are listed on OTCQB under the SHMP ticker symbol. It operates in the United States and has its headquarters in Dallas, Texas.[2]

Corporate Business Activities[edit]

The biotechnology company’s proprietary technology enables it to grow Lit Penaeus in contained and independent production facilities within high-density, ecologically controlled, low-cost environments. Its systems incorporate technology responsible for the harmless weekly production of naturally grown shrimp (crop). The firm has also developed numerous proprietary technology assets, accompanied by an extensive knowledge base that sees it generate significant commercial quantities of the product in a closed system under a computer supervision system. The system automates, monitors, and remits the required oxygen levels, temperature, and salinity for optimal shrimp production. NSI closed on a significant Asset Purchase Agreement (APA) that called for acquiring VeroBlue Farms USA, Inc. (VBF) on December 17, 2020. The APA authorized the company to purchase all tangible assets of VBF, motor vehicles of VBF Transport Inc., and all real property, incorporating all plants, fixtures, fittings, buildings, systems, structures, and other improvements situated on such real property of Iowa’s First Inc. The facility was initially designed for aquaculture. Instead of constructing a new facility, the firm opted to modify it into a shrimp production plant. The three lowa facilities have the infrastructure and tanks needed for optimal shrimp production in sync with the company's patented EC platform technology.[3]

NSI also employs the Vibrio Suppression Technology, a remedy against infectious agents which eliminates and suppresses harmful pathogens, beating the competing BioFloc technology used by some companies. The firm plans to expand its operations on both domestic and international production plants and distribution channels. The company aims to capitalize on the large growing market with limited completion. NSI formed Natural Aquatic Systems to cater for rising requirements for the company's indoor shrimp farming abilities for all aquatic species and capture the growing U.S. seafood deficit.[4]

History[edit]

The company's inception came in 2001, raising shrimp indoors in a 200-gallon recirculating unit feeding the shrimp with algae and artemia, giving proof of the concept. The prototype was then moved to a warehouse in San Antonio for construction, testing, and evaluation on a more extensive system between 2002 and 2004. Testing was successful though the process proved costly as it needed too much algae and artemia. Between 2005 and 2007, 37 acres were acquired in La Coste, TX, followed by a greenhouse and a 30,000 sq ft metal building fitted with tanks and evaluation equipment that would use dry shrimp feed as food for the shrimp. The company spent the period between 2008 and 2011 conducting filtration method research. The use of electrocoagulation technology to aid in the filtration of aquiculture was evaluated, exhibiting the ability to control ammonia and bacteria yielding better results in 2014. A transparent water system was evaluated by 2017 refined electrocoagulation equipment that successfully preserved water quality. Pilot plant renovations were conducted in 2019, paving the way for regular shrimp production in a new facility in La Coste, TX, in 2020. The company then expanded shrimp production to an acquired aquaculture facility in Iowa in 2021.[5]

Funding[edit]

NaturalShrimp is engaged in discussions with another entity, which would involve a Re-IPO (Initial Public Offering) along with a fresh capital raise ranging from $10 to $12 million. This opportunity has received complete backing from the management, advisors, and Investment Banking team of NaturalShrimp. If this Re-IPO plan is executed as intended, it will hopefully lead to an uplist. The expected timetable for this uplist remains around the end of September or the beginning of October.[6]

E-Commerce[edit]

On March 13, 2023, NSI announced the successful relaunch of its website (www.naturalshrimpharvest-select.com) used for online ordering home delivery, incorporating a new dedicated fulfillment center, a new cocktail sauce product, and an upgraded ordering procedure. The e-commerce website and the program, launched in December 2022, sired robust demand, prompting the company to conduct further research, understand market demand patterns, and gather feedback needed to improve the program before advancing it to the public. The company also accomplished a fulfillment center within the partner facility, enabling ordering, packing, and efficient shipping of orders.[7]

US Foods Partnership[edit]

The company provided a positive update concerning business advancement operations in partnership with US Foods. The company added that it received strong interest from top-tier customers and massive support from the veteran food supplier. US food is profiled as one of the top food companies and food service distributors. It partners with approximately 250 000 restaurants and has 70 broad-line locations and over 80 cash and carrier stores.[8]

Yotta Merger[edit]

NaturalShrimp cancelled its previously announced Merger Agreement with Yotta Acquisition Corporation and its wholly owned subsidiary, Yotta Merger Sub, Inc. The reason for this termination is that Yotta Acquisition Corporation was unable to comply with a provision in its Amended and Restated Certificate of Incorporation. This provision prohibits Yotta from completing an initial business combination unless it possesses net tangible assets amounting to at least $5,000,001 upon the consummation of said business combination. Due to this inability to meet the required financial condition, certain conditions necessary for NaturalShrimp Incorporated to fulfill its obligations and complete the proposed transactions outlined in the Merger Agreement cannot be met, making it impossible to proceed with the merger.[6]

Management Team[edit]

Gerald Easterling, CEO, and President

  • Has been the President and a director since the company’s inception
  • Plays a vital role in the firm’s corporate direction, merger and acquisition strategies, and operations
  • Also serves as the President and CEO of Natural Aquatic Systems, LLC, where he oversees business development, operations, and sales
  • He has massive leadership experience, serving in several companies, including Café Quick Enterprises, as President and board member from 1988 to 2016. He co-founded Process Technology (Fresh Fry) in 1981, where he served as President and Director. Fresh Fry was acquired by a U.I. Group based in Salt Lake City in 1982, where Mr. Easterling continued to serve as the Executive Vice President and Board member.

William Delgado, Chief Financial Officer, and Treasurer

  • Has worked as a professional consultant to several private and public companies
  • He also serves as the CEO/CFO of Global Digital Solutions, Inc., a security and technology firm currently undergoing restructuring.
  • He has served as the Chief Budget Analyst for Pacific Bell in the Northern California region.
  • Holds a BSc. with Honors in Applied Economics acquired from the University of San Francisco and Graduate studies in Telecommunications Management from Southern Methodist University.

Other team members include Thomas Untermeyer, Chief Technology Officer, and Chief Operating Officer, and Neil Reithinger, Eventus Advisory Group, LLC – Advisor.[9]



The page is authored by: Wisdom Tree