I'm here for the entertainment and to entertain. I'm certainly not here to give financial advice and anyone who thinks otherwise is a fool.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
You keep believing Easterling. I'll keep believing what Fife and SHMP have sworn to in court, as documented by the court filings.
SHMP does not control any assets. They are all controlled by Ampleo. SHMP's access to its paltry bank account goes through Ampleo. And soon enough, Ampleo will have sole control and access to SHMP's cash.
Nothing to do with NoRide. NoRide owns no IP. NoRide is a shell company. Just ask NoRide's CEO.
SHMP’s patent is a good chunk of SHMP’s former assets (now controlled by Ampleo).
Its book value is $5.9M, which is a joke.
SHMP should have written it down…or written it off… already.
Now Ampleo will obtain a valuation for all of SHMP’s former assets. And it won’t be pretty.
Niterra was pretty smart. If it still has any interest in anything SHMP OWNED (past tense), it will soon be available for sale.
Nope. No shrimp available.
Ampleo controls all of SHMP’s assets, including its paltry $46K in cash.
No money going out from SHMP without Ampleo approving the expenditure.
No shrimp whatsoever in LaCosteUnknown.
Facts.
If anyone is interested, Ampleo filed an inventory of SHMP's former assets with the District Court of Salt Lake County on September 19th.
If you're a SHMP "investor"...or have a weak heart...don't look. The numbers are ugly. Only $46K in cash on hand.
Uglier still is this:
The cash accounts for the companies are with Extraco Bank in Waco, Texas. Receiver has access to the accounts and monitors the accounts for all activity. Receiver is establishing a new demand deposit account at the First National Bank of Omaha for the receivership estate. When opened, all cash from the Extraco Bank accounts will be transferred into it and all cash receipts and disbursements of the companies will be administered from the First National Bank of Omaha account, over which the Receiver will have exclusive and sole control.[my emphasis]
Receiver has been onsite and inspected all the assets in Iowa. The assets include the growing inventory of shrimp, machinery, equipment, vehicles, facilities, and real estate. The Iowa assets are in three locations: Webster City, Iowa, Blairsburg, Iowa, and Buckeye, Iowa. The Texas assets include equipment, facilities, and real estate at La Coste, Texas. NaturalShrimp also maintains an office in Dallas, Texas with assets of little or no value.
You don’t shop at HEB, do you?
Not that you had any legitimacy left, but what little you might have had was kjuat destroyed by your post.
BWAHAHAHA!!!
It’s funny…
First…SHMP is “sold out” of shrimp.
Second, SHMP’s website says local pickup is available in Roanoke TX (Cinnamon Creek Ranch). Look at a map and see how close Roanoke is to LaCosteUnknown. Really? “Fresh”shrimp.
Finally…heads-off and cooked? Who is processing those shrimp? Certainly not SHMP. SHMP’s own filings say they’re not authorized to process shrimp.
Someone’s pissing on SHMP “investors’” legs and telling them it’s raining.
Yes and…? The offer still stands. HEB has plenty of shrimp that’s not foreign farm-raised.
Apparently, lying is too.
Oh…and sorry pal but there’s no shrimp available online from SHMP. I suspect that will be the case for a looooong time.
Easterling and Untermeyer will have to find something to do while Ampleo gets the Iowa properties ready for new owners.
I don’t buy imported farm-raised shrimp at HEB. I don’t have to. Plenty of other choices.
Like I said, time to get off the pipe.
SHMP shares…$0.00355.
SHMP entertainment…priceless.
Talk to me when my local HEB stops selling a variety of wild-caught and domestically-farmed JUMBO shrimp for less than $8 a pound (not that puny stuff that SHMP sells).
Fortunately, that means you and I will never have a conversation.
More = market
I bought my lottery tickets, knowing the odds. There’s no more for losing tickets.
But the tiny sum I paid for those tickets came from the returns I got when I bought SHMP lottery tickets in 2019 and those ping-pong balls popped up.
I have no regerts :)
Fife’s only gonna cough up enough funds to maintain the property and pay taxes and insurance. Until Ampleo finds a buyer (if it hasn’t already).
Pipe dreams appear to be your thing. Get off the pipe.
Would you contract with a company that’s in receivership?
The smart money doesn’t see anything coming NoRide’s way to affect the pps.
Delgado? No, AFAIK, Delgado was switched to part-time. I guess he needs the extra time to finish the filing for his other disaster. The filing that’s literally one year over due.
You better be nice to the Ampleo manager or he’ll take that broom out of your hand and hand you a toilet brush, so you can keep the toilets that Ampleo now controls nice and clean for the new owners to be.
The “old man” has nothing under control, as he controls nothing of SHMP’s. Ampleo controls SHMP’s assets.
And $500K will pay taxes, insurance, utilities, and the wages of the maintenance staff.
SHMPoo. Rinse. Repeat.
This one won’t age well either. Can’t wait.
SHMPoo. Rinse. Repeat.
If those shareholders would only read the judge’s decision from the September 17th hearing,they’d understand how screwed they are.
But one of them posts on a MB of a company that actually went Chapter 11 and SOLD all their assets. And this particular poster still thought the company owned IP and manufacturing capability. Even though the company’s own filings said it was a shell with no means of generating revenue. Its assets consisted solely of what was left of the cash derived from the asset sale…and some big Net Operating Losses (NOLs) that could attractive to a company that actually made money and owes taxes.
SHMP is in receivership. I win.
BWAHAHAHA!!!
What's always been there...the dumb money. The money of the folks who think Trump will make them rich. You know...the ones who can't afford to buy a Trump watch...or a Trump coin...but want to still be part of the throw-my-money away crowd.
You keep repeating that. It apparently will make you feel better. Meanwhile, GRPS gets further and further from actually producing revenue. But that's OK. It's only five years away.
PT Barnum proven correct once again….
I was on topic. Pay attention.
This one won’t age well.
SHMP is in receivership. FACT.
PS. And if you’re asking this question because you think Easterling would have advised its now-neutered shareholders if it were true, then you’re a bigger fool than I thought.
SHMPoo. Rinse. Repeat.
Because the hearing was held on Sep 17th and the judge made the TRO permanent and granted the recicer, Ampleo, control over ALL OF SHMP’S ASSETS.
It was all posted earlier today in great detail. Pay attention.
Oh…and SHMP decided that it was enough to have Easterling and Untermeyer attend the hearing, sans legal counsel.
You know who gave things five years to "move forward"? SHMP shareholders. You know where SHMP is now? Receivership.
Shrimp aquaculture investors beware.
Never have so many (common shareholders) been so neutered by so few (shares held by insiders and BoD).
It's like the nearly 1 BILLION SHARES that appear to be on the Street (and not held by any insiders) count for NOTHING.
Well...actually...not just like...they DON'T count for anything.
Thanks again. I brought up AS and R/S only with respect to possible sources of funding all the work SHMP would need to do to ATTEMPT to be fully operational. The unspoken questions from that, of course, are: Why would Streeterville allow SHMP to be diluted further? And who in their right mind would buy the stock? Besides Streeterville.
It would seem pretty obvious then that there is NO WAY SHMP continues to operate. I think you might have already said that.
Let's say liabilities exceed assets (which appears to be the case). Then who is owed money? Streeterville, mostly? Then expect Streeterville to ask Ampleo to put a For Sale sign up in LaCosteUnknown and start preparing the Iowa properties for sale. Lay off all but staff essential to maintaining the Iowa properties. Easterling can certainly go as CEO. Same for Delgado. Untermeyer would seem to have value as part of the wind-down.
Another question: The BoD is now the director of what? Certainly not the corporate assets. Those are in the hands of Streeterville. Can the current BoD be dismissed and replaced with a caretaker?
Now I’m wondering who is responsible for funding continuing operations for SHMP? Ampleo? Given there is little to know revenue to work with, I would guess Streeterville. But why throw good money after bad?
I can see Streeterville paying to maintain the assets and pay necessary wages, taxes, insurance, etc. but no more than that.
Who is able to decide to do an R/S or increase the AS?
So many questions….
Thanks for your insightful comments.
Given that over 90% of the common shares are on the Street, SHMP is once again screwing over their “investors”. No surprise there.
I wonder if the members of the FB cult are finally coming to understand how screwed they are.
I will go back and read that text. Either it’s SHMP’s answer and plea to keep the company going, or that’s the judge’s opinion. Which is it?
The docs are available on the Salt Lake District Court web site. I paid the equivalent of a whopping 763 SHMP shares to view a few of them. My browser must not be compatible wth the XChange app the court uses for document access; because I wasn't able to print them to PDF.
First interesting point...
Even though Steven Walker was served with copies of the various filings (service verified), only Easterling and Untermeyer attended the hearing on the 17th.
The gist...
The judge's order said the plaintiff had a good chance of prevailing. In a 25-page ruling, the judge converted the TRO to a permanent RO and officially appointed Ampleo Turnaround and Restructing, LLC, as receiver. The text was pretty clear in saying that Ampleo is now in control of all the corporate assets of SHMP, as well as in control of revenue, etc. Ampleo has a website, but it doesn't show anything about the companies they are currently responsible for.
This non-attorney interprets what he read in the judge's final order as the SHMP board controls nothing. Ampleo controls everything. I can't say that puts SHMP out of business, but it puts Easterling et al. seemingly out of the shrimp business...I mean the stock-selling business.
This layman thinks that this ruling should have been followed by an 8-K from SHMP, but perhaps Easterling, no longer in control of SHMP's assets, isn't in a position to make such a filing? I admit I did not read every word of the 25-page filing, so maybe the answer is in there somewhere. I AM curious as to what obligation that puts on Ampleo to fulfill the obligations of a publicly-traded company viz. SEC rules.
Perhaps one or more of my fellow posters has experience in this area and would care to comment?
Anyone interested in what happened at the Salt Lake District Court on the 17th?
PS. Given that it's been one week since the hearing, you'd think that SHMP would need to file a follow-up 8-K to report the outcome.
SHMPoo. Rinse. Repeat.
Good news as in Delgado is finally going to file the 10-Q that was due ONE YEAR AGO, literally?
BWAHAHAHA!!!!
Yes and? Tell us when you sell? Or are you gonna hold on til the bitter end?