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Interesting article on one of the co-inventors listed on the patent, Ilia Petkov:
https://gazette.com/business/the-wizard-of-machinery-still-works-his-magic-at-his/article_b224a964-5c8c-5e42-a9c1-f8520bc8ad50.html
Patent link: http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&u=%2Fnetahtml%2FPTO%2Fsearch-adv.htm&r=1&p=1&f=G&l=50&d=PTXT&S1=10163199.PN.&OS=PN/(10163199)&RS=PN/10163199
100% survival and the shrimp are happy as clams.
This is an incredible outcome for the final test. The official announcement will be huge!
February would make it over 30 weeks. That doesn't seem right.
We are entering week 26 according to my calendar. High-survival rate (>90%) plus fat shrimp (avg 24-26 lbs) means much more than slightly longer growth cycle.
Far more costly when anywhere from 30% to 50% of your shrimp die which is the industry average.
The shrimp have been harvestable for the past week. At this point they are just trying to fatten the shrimp up.
It's odd to reference the GHS agreement as a positive. They are the epitome of a toxic lender.
How much factor improvement is it? I'm not finding much on UV being cost prohibitive.
http://www.waterrf.org/knowledge/energy-management/efficiency-treatment/Pages/faqs.aspx
I would think UV system is the biggest competition going forward. I haven't been able to find how it compares to electrocoagulation. Marvesta Shrimp currently uses a UV system, but their operations look pretty primitive from what I've seen.
https://www.aquafineuv.com/Aquaculture
the past is prologue
wow. no wonder the farm bill banned china shrimp
https://translate.google.com/translate?hl=en&sl=it&u=http://www.asianews.it/notizie-it/Gamberetti-alla-colla,-nuovo-scandalo-alimentare-in-Cina-24000.html&prev=search
I'm not saying it's a scam. It's the same three founders and just look at Tom Untermeyer's C.V. Also, the partnership with F&T Water Solutions is enough to show this isn't the scam people like AlL-IN are alleging.
That said, they are clearly desperate for financing. My question was just why they would publish PR about that.
I don't want to hear any more news unless its about them harvesting >5,000 lbs of shrimp from a 65k gallon tank!
Not a basher. Read my previous posts.
Whether or not financing with a toxic lender like GHS is a good idea or not (it's not), putting out PR about it was just baffling. You have to admit it was not well-taken.
And yes, if the harvest is truly successful, all of this will be an afterthought.
Can someone explain why SHMP would boast about a GHS equity purchase agreement?
How dumb do they think we are?? It was particularly insulting, when the article quotes Williams saying how "fortunate" they are to have GHS....
And in case you don't know:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=117394948
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=133256346
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=126616256
Is the TA still gagged? What’s the latest OS?
OS increased 100m in a 2-month period. May have something to do with it.
January harvest started with 100,000 PLs. Full growth is between 22-26 grams. The harvest should yield between 5k - 6k lbs which is $65-80K worth of shrimp.
This is a proof of concept batch. Full production begins first quarter of 2019.
The chart is explained by dilution which was confirmed. Look at the volume, no change. Without dilution this would still be at .03.
If you have other thoughts on why this is a scam I would love to hear them. And I would define scam as them misrepresenting the current harvest and capabilities of the system. This is what everyone is "betting" on (including the company).
BTW, I did note that in the second to last 8-k the newly created preferred stock was granted liquidation rights.
Yikes, well I'm sure you'll jump back in. More ceiling above us now and a lot more at another dip.
so you misjudged the break out by a few weeks. It will happen when harvest is completed. Up to that point, I see trading in the .009 - .03 range.
You built your position at .025.... not our fault you bought high. The idea that .012 is the new top is completely baseless. Nothing has fundamentally changed.
Exactly. GHS was already one of the largest shareholders. Very likely it was them diluting in order to execute the new 60m. Maybe a sell off at the bell but goes up from there.
How many shares still subject to conversion by the convertible note holders?
The AS was only raised to 900m in September. Prior to that the shares subject to conversion could not have exceeded the current AS at the time: 300m. With this in mind, I think a conservative estimate would be somewhere around 100m (including not-matured notes).
Any thoughts on this reasoning?
60m issued for net of ~$730,00.00 is a step right direction. This fully funds current operations for next 12 months (see 10Q operating costs). Now they can sit back and find the best financing to move forward.
HUGE news on the horizon. Recall the AP article where it stated the "state’s largest farm had survival rate of 54 percent." Think about that!!
In the same article the expert they quoted was highly skeptical Natural Shrimp's system would work.
Fast forward and we are two weeks away from full growth and ALL indications point to the harvest being incredibly successful. No visible mortality! Keep in mind, its a clear water system so you can actually see these things!! (unlike like dirty bifloc water)
This thing will blow up.
Link: https://www.apnews.com/801fa99a0a9f4244a3af58385c941235
they were sold for 80% of closing price on Dec. 12th which would make it around 700,000. This is enough funding for current operations (according to the 10q) so I wouldn't expect any further dilution until after the harvest.
I hope things pan out for you. shmp is a strong buy at this price.
I did read the s-1, and hate to break it you but, the 60m shares have not already been absorbed and the net was NOT 900.
700t (NOT 900!) funds current operations at La Coste. It is no where close to the financing they need for expansion. They won't look for that money until proof of concept ie. harvest in a few weeks.
The story goes that the last 18 years have been spent on R&D. The first 15 of which were wasted on biofloc technology which is terrible and what most of the shrimp aquaculture industry uses. Its a brown water system.
3 years ago they made big switch to a closed RAS/clear water system that utilizes electrocoagulation. They built the new system in partnership with FT solutions and are about to harvest the first large-scale growth for the system.
Everything rests on the system being 10 factor better than biofloc hybrid RAS systems.
18 years and 35m in debt with 4k in cash in the bank.
I guess it depends on your definition of "struggling to keep the lights on".
I thought the 60m would net $729,000. Not 60k
Thanks for the information. I would like to be long on this one too. GLTY
its better than the convertible debt that littered the last 10q, but that's a pretty low bar.
Isn't the latest s-1 another sign that they can't find favorable financing? How is the money raised in that offering in any way a significant amount relative to their plan of expanding to NY, LA, Vegas etc.
It seems more that they are struggling to keep the lights on as opposed to being on the cusp of big expansion.
Anyone have better insight on this?
They are quoting the closing price on Dec. 12th NOT the 14th. The numbers are correct.
Its acceptable right now, but whats the total leveraged convertible debt minus whats been converted. I don't think that number is known.
One thing I noticed is the new offering p/s is .0156 versus 0.016 in September. Factoring in the bulk discount you would think a higher/or at least equal valuation would be in order from then to now.
It's legalese, not intentionally confusing
this needs to be stickied #8227
confirmed OS 286m
the math was right but I misinterpreted the language. I kept reading the s-1 and in the footnote to the OS of 226m it says this is “excluding” the 60m. so the OS will be 286m after these shares are issued.