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Utah, sorry but after the SPAC disaster, not anticipating a whole lot from Niterra. You should do some research. I don't believe Niterra has even a small amount of interest in being in the shrimp growing business. Take a look at the website. Ammonia sensors. That is their interest.
When a prediction was made that an S-1 would be effective in 1-2 weeks, all credibility was lost.
Yes but that is all in his role as CEO. Why make it personal? What does his living arrangement have to do with SHMP?
Note sure why discussions about SHMP management become personal. Gerald Easterling was married for decades and his wife passed from lung cancer. He met Deborah Stovall who was Boone Picken's daughter. If anyone knew, she is not rich. Personal attacks against SHMP management not really required to have discussions about the company's prospects.
Yep you did say I'll take the word of the fine attorneys. Hell yeah!!
Actually Anvil, I do disagree. Are you saying they just realized this in July 2023. Why didn't anyone pick up on this weeks ago. Not buying it. The wording is to save face. Are you telling me there were 3 bankers attorneys and and at least 2 other fine law firms and everyone concluded in late July 2023 what was described in the 8K. You're a smart guy. Take a look at the series of Transactions around the Series A which are quite unbelievable, shocking actually, and then tell me that what was said in the 8K was not save face language. Josh even posted here at least 5 times math on why it wasn't happening. He figured it out before counsel. Not buying that.
I actually do believe you took the attorneys word that the SPAC would happen. How did that work out?
Thank you for the acknowledgment. I do speculate that the underlying reason was to save face. Any financial analysis would allow one to conclude SHMP is in deep foo. They can't service the debt and they can't fund operations. I don't see them raising $10 million because no sane investor will do that for 3 reasons.
1. Smart investors will not allow the company to raise capital so checks could fly out to John Fife.
2. No smart investor is going to write a check to this company for equity if John Fife is involved. They are certainly not going to give a loan if they have to stand behind current lenders.
3. The $10 million is essentially a bridge loan because it probably buys the company another nine months.
4. Toxic guys would probably stay away also.
If I was advising them, they should seriously consider an action against toxic investors for alleged damages related to operating as an alleged unlicensed broker deal. If the SEC wins their case, SHMP would win their case.
Hey you're back. Was I correct on the SPAC. Yes or No?
It is now a week or so. I say 4 months. I think the SEC cleared them is a week when the NYSE used ticker tape.
Actually never thought of that. San Francisco may be the venue of proceedings. Lol. Inner cities much have access to shrimp.
Where is the principal place of business Texas. Where is the residence. Texas? Where is the chief executive officer located Texas. Where is another board member located. Texas where are the other assets located Iowa. I understand that code. Much more than you think, and if you look at the case law, there is less than a 5% chance that the venue is Nevada. It is Friday so class will end a bit early today.
See my post. Venue would be close to the assets
Wrong again. The state of domicile has little to do with it if the assets are not in Nevada which they are not. The federal courts are the jurisdiction and the venue would be San Antonio or the location of a federal court in Iowa. There would be no reason to move it to Nevada because in the interest of justice, Nevada would make zero sense. GHS is down south, Fife is in Chicago and all the assets are in Iowa and Texas. As I always, check with any bankruptcy attorney and they will confirm I am correct.
You obviously reviewed my posts and have seen I never said leak out agreements which means class is over. Next on the agenda is the re ipo which I call REPO and the S-1 that won't be effective in 1-2 weeks.
Steady please point to what post I used the term leak out agreement. I used the term "subject to leak out provisions". Leak out provisions is statutory. Agreement is contractual. If I used the term "leak out agreement" it was in error. Please point to that post
The only thing I do is seek out false information and provide thorough analysis. So when someone predicts an S-1 will be effective in a week, I call it out for what it is. That prediction has a 1 in 1000 chance of being correct.
Franny there is not a securities lawyer in America that will agree with you. If one owns 5% of the common on a fully reporting company, they can not sell all their stock. They are subject to leak out provisions period end of story. You keep believing that. I don't own the stock so I am right. If you own it, you are wrong. BTW, keep doing what you're doing. I may take a shot at a penny and I chose a penny for a specific reason which you also will not understand. It will get to a penny before it gets to 10 cents unless they reverse split. Class is in session
No sir. Not debatable. He who owns 5% of the common of a fully reporting company is a control shareholder and is subject to leak out provisions. That is precisely why every toxic investor has explicit language that they will not own more than 4.99999% of a fully reporting company. It doesn't matter if you have a Series A P R Q and U, the 5% common shareholder is a control shareholder for Rule 144 purposes.
I would suggest you remove the I. It then becomes REPO and we will be on the same page. Fife has a lien on all assets so REPO may be it. Excellent point. Never heard the term RE IPO too often but reiterate REPO may be a great call from Franny.
If someone owns 5% of the common of a reporting company, they are a control shareholder. Period. And if Fife ever did that, it would be an accounting mistake on his part. He works to always stay under 5%. Hey Franny, can you at least say I was correctamundo on the SPAC.
Actually you're on a streak. I don't see that happening over the short term because 9 out of 10 times, stock goes down after R/S. However, they may. The other reason why I would advise them not to R/S is that would attract shorts. If you have to tie up 2.50 a share but the target stock is 75 cents, that would make more sense.
Again you're wrong. If there are 800 million common shares out and someone owns 40 million common shares, they are a control shareholder. Voting control is different as to control for Rule 144 purposes. Seriously come to class.
They would have to find a SPAC with the symbol SSPC. That would stand for Stupid SPAC Other than a Stupid SPAC, I don't see it happening with John Fife's toxic notes.
You're not wrong
Franny as usual, you're not in the class. Series A of SHMP is irrelevant to a SPAC. What is relevant is why would they merge with a company that has John Fife on the books who either will say thank you as they hand the money to him or he will drive the stock to .000000001 to get his money back.
I've had time to look into it and I don't see any SPAC happening because of the toxic notes. It simply doesn't make sense for a SPAC to merge with a company that has the type of debt SHMP has. Unless Fife and GHS agree to convert all debt into equity now, I believe any SPAC is a low percentage shot. I also don't see Fife or GHS doing that because they will be control shareholders.
Very interesting
Disagree, the tip-off was the stock action. The second tiipoff which was a telltale sign that after fhe redemptions, there were no amended agreements signed. There would have to be and there wasn't.
Appreciate the compliment but the SPAC was obvious as I said. So is the fact that the registration statement will not be effective in 1-2 weeks. I have never seen an S-1 attached to any penny stock company go effective in 1-2 weeks in 30 years. Two weeks would be a possibility on a Reg A. Not on an S-1. Thank you.
A brief comment on today's press release. Although I was adamant that the SPAC was not happening, I would say the chance of the $10-12 million raise happening is about 10%
In order for me to increase the odds, I would have to see three things.
1. A withdrawal of the current registration statement.
2. Maintain a market cap in the area of $30,000,000
3. Continued cooperation from current toxic investors.
I would also estimate that the real number if done will be about $7,000,000. That is calculated by 1/3 of the current market cap with a 30% discount to get institutions to buy in.
This is a unique situation because the toxic idiots know they are white water rafting and are about to go over a waterfall. Therefore, they may and I stress may maintain patience. I'm sure John Fife has already researched what the company would be worth in a fire sale but the numbers are not helping his stomach condition as a result of the millions he is spending on his SEC lawsuit.
Actually I know everyone is joking on that but not far from reality. All John Fife's financing docs always say Utah has jurisdiction so Utah is not a total joke.
Don't disagree.
I really appreciate the sincerity of your posts. I have always thought that SHMP should hire a very real trusted focus group to run a taste test. If they truly come out in a statistically significant manner tasting better than imported, farm raised and American wild caught, that would mean a great deal to me and all consumers. They have never done that. American wild caught are known to be the best tasting shrimp so that is the real competition. One of our posters who seems to be asleep after the SPAC news likes to say I focus too much on price. Price is reality and I know one of the largest distributors in America in that business and he will give you all you need at $6 a pound. Wild caught American shrimp
I see you posted this before SPAC update. Told you so. My classroom is open most days and based on my experience, I knew it wasn't happening. I can also tell you no S-1 for a penny stock company will be effective in 2 weeks. Not happening. That is also taught in my class.
Sir, if there is any label attached to these that says wild caught, they will be shut down in 24 hours. They are not wild caught and can not be marketed as wild caught.
As I predicted many times, the writing was in the stock action. I wish I could say it was a hell of a call but it wasn't. Very obvious it was not going to happen.
Are we effective yet? My bet, you are 4 months wrong.
Btw, all quiet on the SPAC front. I have been told long shot at best.
That is really exciting the market place. We have made a new 52 week low 3 days in a row. Niterra has zero interest of being in the shrimp business. They want to be in the sensor business and are using NS as the experiment. In fairness, it's a win for both. NS can pump the stock and Niterra can do a scientific experiment for free.
You still haven't answered my question. Did they license the tech? Yea or no. I can answer that No. They have zero risk.
Really so why haven't they licensed the tech if they are so confident? I'm calling BS. It is a scientific experiment pal. Do you know how many times Gerry has mentioned Tyson over the past 10 years. If the system was proven, Tyson or 1,000 companies in the US would buy it. Not a spark plug company who I don't believe had even committed a nickel to the experiment.
I'm calling 1,000 percent All American BS. If you know so much about US FOODS, I say they haven't sold $5,000 in shrimp to US Foods prove me wrong,
That is for the fiscal year 3/31/24 which is of course even worse news for you. Even when the claim everything is swell, they still won't reach $1.000,000 in revenue and they will lose $30,000,000. Just watch.
BTW, you better hope the S-1 doesn't go effective for at least 90 days. We have made a new 52 week low 2 days in a row.