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Yes should be effective in December
Totally disagree. I know it feels good to say that but it's false.
Please stop with the short language. The company's stock is going down because of the reasons I listed. SPAC failed. Little to no revenue. Not servicing debt and no ability to service debt. Lien against all assets.
I think I requested a list of 5 stores that sell their product. That was 3 months ago. Why is that list so secret? Or do you like to refer to unnamed stores?
Actually do agree with Uber in terms of value of assets. Your comment on value is exuberant unsubstantiated speculation. If the value of the assets was as much as you think it is and the technology was what you believe it is, some big player would buy them like hero company Niterra. That isn't happening.
Franny. First business judgment defense. That is an affirmative defense which I agree. No one will sue them on that. The purchase of the Iowa facility was a business judgment. Plain and simple.
As far as the perfect storm. It's actually a simple storm. Little production, failed SPAC, dwindling cash position and debt that is not being serviced.
On the Series A fiasco, I would be concerned about someone piercing the corporate veil. Probably fails but not on summary judgment
One of the smartest posts ever in this board. They took a big bet. I actually think they raised a lot more money by doing that deal. However, now they came to the other side of the mountain and they have to hand in their chips. If they close that plant even short term, word will get out. Very smart observation Anvil.
Really please point out where I'm wrong. Teach the teacher
Actually Franny, great question but you are arriving at an erroneous conclusion. The people who bought are specs, not value players. I believe the bottom is a penny. However and if the company provides any hint of a reverse split, 1 penny will not be the bottom.
Nope. It is people analyzing the financial statements and concluding if I like the tech, I can buy it much lower.
One knows they are winning when the posts go off the rails. I now believe that saying the company is a few months out from positive cash flow is the best yet.
Odds of the cash flow statement being accurate is zero.
LMFAO. Really. No I believe people are analyzing this and saying I can't pray for miracles any longer. The balance sheet with the income statement is abysmal
Close to zero chance. If Yotta shareholders were buying SHMP, there would have been at least some action in Yotta. Virtually zero action so that is about as accurate as an S-1 goes effective in 1 week.
No those are smart investors like me.
I said the SPAC will not happen.
I said the S-1 would not go effective in 1-2 weeks.
And https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172190288&txt2find=stock%20price
It wasn't luck.
I don't believe shareholders really understand the financial abyss that is approaching. The S-1 that was just filed means another one can't be filed now. From the point its declared effective, that starts the clock on when the next S-1 can be filed. As a result, the company is going to have a beyond impossible feat to raise capital institutionally. It is not being done retail. And in the meantime, they have John Fife on their heals who is racking up 2% interest each month and penalties are stacking up. Unless the company finds a SPAC, a world class investor, or a guaranteed contract with a major store chain, the stock may reach 1 penny by year end.
Wow. Wow. Shrimp prices are crashing. Which data point is more relevant?
Note the periodic big blocks coming out of CDEL the last few days. Retail investors don't topically offer out 1,000,000 share or 900,000 share blocks.
I would be more than happy to be called out on any personal attack I have made against SHMP management. Also, what I have been wrong about. I know we differ on price to produce but that doesn't make me wrong. Trust me and if I wanted to launch personal attacks, I have a huge arsenal. That isn't what this board is about.
Your wasting your time grabbing for straws. The deal was not happening as I said all along. If you look at the original deal and look at the revenue targets that were part of that deal that would have given Natural Shrimp extra shares, it was abundantly clear that they were going to come nowhere close to those revenue targets. Yotta rethought their position, and in my opinion, there was no way this deal was happening because they were not going to give their money to John Fife, which was essentially what they were doing.
Dude I need to buy you dinner for the laughs.
I knew there had to be another S-1 filed. That is why I knew you were wrong on the effectiveness. BTW, you're still wrong. Target month for effectiveness. December.
Close to zero chance. You didn't read my posts and your posts. Yotta was not doing this deal. They are already looking for something new.
I have a very serious question. What is the chef's job?
Actually funny. If you want to know how great they are, then hire a focus group. Don't have someone telling you how good they are because that is not a focus group. BTW, those restaurant owners pay $8 wholesale maximum for 26-30 heads. Did Chef tell them about the price. I'd like to do a taste test with the Chef and have someone make any shrimp dish and let's see if he can pick out their shrimp. Maybe you can tell the difference. News flash. SHMP is not growing shrimp to shrimp cocktail size.
Which is precisely why even a $50,000 check would be very well worth it for a reputable focus group that is a recognizable name among real businesses. The Chef Is a nice guy but getting him to run a focus group is like getting me to run the recovery of the Titanic. Zero knowledge on that subject.
You do realize this is precisely what I told them not to do. I said get a real reputable focus group, not a chef who knows nothing about focus groups. There is a reason why companies like JD Power are trusted.
The Series A is a problem. However the company is not a scam. I can name hundreds of companies in which executives have done dumb things and even went to jail. Tyco, Computer Associates to name 2. You would have loved to be a founding shareholder. It is a scam because they're not successful is funny. It is a scam because they're not straight with shareholders is even funnier. You make some great points but skip the scam language. Most companies are not straight with shareholders and the public.
Not a scam. Sorry. They absolutely have an intent to create a system to grow shrimp. If that is the case which I know it is, it's not a scam.
I am happy to be called out on any information I've distorted. I do believe I've been spot on. Look at the last PR and the target money raise. I assume that means all in 1 shot. I said chance is 5%. If the market cap was $100 million plus, I'd say 60-80% I talk in facts based on knowledge.
Utah, agree with you again. Doomsday is not appropriate. Liabilities are in excess of market cap, every asset has a UCC lien against it, no money to service debt. Twenty percent gross margins, declining sales, Going concern opinion by auditor. SPAC bailout failed and over 300,000,000 shares just registered. We can see doomsday on the horizon but we are just in a financial monsoon. Anything else?
Are we effective yet on the S-1 or would you like to revise tour estimate to late October.
Totally misleading totally agree. He should have pointed out that revenue crashed over 40% in the 4th quarter compared to the 3rd quarter. If you're going to point out $50,000 in revenue for the 4th quarter, every person should point out that they had a much better 3rd quarter. Utah I am so with you.
I agree but the share structure on the Series A needs to be discussed but at the very least, it challenged Nevada state law and I'm being nice. To review the first step. A group of common shareholders of the company I stress, common shareholders were able to take all of their common stock and exchange it for a preferred which allowed them to convert into 50% of the company. Do you see a problem with that? I do.
Utah, not one time have I ever said that. I would expect them to be a pubco for years. Barring short of a miracle, I do expect the company to hit a penny within a year but the company will still exist. It makes no sense for Toxic John to repo assets because he has a better chance to pound bids for the next 5 years to recover.
Yes the one that everyone take the 5th on
I see. So is 16 weeks at the minimum. I am comfortable I am right again. Do you think we will get to 4 months and so. Here is the one comment that may make it 3 years.
Who owns the series a preferred and please provide a through explanation on how the owner received possession? 5th amendment may be an appropriate response.
I am serving popcorn in class for that answer.
Oh wow, please provide 2 examples of penny stock companies that had an S-1 declared effective in 1-2 weeks. Don't do q switcharoo on me and say it doesn't matter if it's an S-1. Yes it does so find me 2 and I'll end class early today and admit I was wrong. Please name 2 over the past 3 years. An S-1 for a penny stock company. I like you secretly added without comments. And you expect SHMP not to have comments. Come one man.
Actually, then where did get the information that the S-1 filed by NS would be effective in 1-2 weeks come from. Is that from the attorneys or is that a business conclusion. Because I have told you that it will not happen. Now to be so sure means I'm either really lucky or really knowledgeable. Bet on option number 2 when class is in session.
Uber you really need to read. This is equipment manufactured in Colorado which is even better. Save on shipping charges. Now NS will try to convince you that if Niterra or anyone calls the same company and gives them a $10,000,000 order, you would have to go through NS. lol.
Actually no, you told me that you trust the opinions of the fine attorney. I knew more lol
I agree. And it seems like no one did the due diligence I did when I was adamant that the SPAC would not happen. I am also adamant on the fact that the S-1 will not be effective in 2 weeks. I am also adamant on the fact that you will not see 1 million in sales this year and you will see a loss in excess of $30,000,000. When the SPAC was cancelled and the Re-IPO was announced, I believe the chance of receiving a 1 time cash infusion of $12 million is about 5%. Due diligence is incredibly important and I'm good at it. Class in session.