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.
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One makes it up.
PS. And thanks for making my point…again.
Too bad all these would-be shrimp aquaculture fantasies are raising the same species…Pacific white shrimp.
Check youself before you wreck yourself, buddy.
The white shrimp in the Gulf are a different species than the Pacific white shrimp TAA is growing. Pacific white shrimp are also what SHMP is growing. And I suspect but can't yet prove that Royal Caridea (RSHN) is also growing Pacific white shrimp.
But I'll say again. I look forward to that blind taste-test that demonstrates that white shrimp are a commodity.
Oh...and tell me the last time someone ordered a "shrimp cocktail" and had an f'n clue...or even cared...about what shrimp were in it.
Wake us up when there’s a 5% owner of SHMP….
Your point? Stop over-seasoning your food. And show me a blind taste test where one white shrimp is distinguishable from another. Unlike white shrimp versus Gulf shrimp. And unlike beef, where wagyu is distinguishable by its appearance and taste. And prime vs. choice. it’s been shown ad infinitum.
Keep trying to turn a commodity into something it isn’t.
But go GRPS! As long as they can sell at $3 a pound and at least break even.
So make the case that GRPS is distinguishable from other white shrimp…or retire the ridiculous analogies, like Wagyu.
Hit a nerve? No. As entertained as ever. Particularly when someone brings wagyu into the discussion. Let’s me know who I’m talking to.
SHMP needs GHS to buy shares. Yes, GHS is obligated to do so, but SHMP NEEDS GHS to keep coming back to the well.
A cynical person might see a pattern:
1. Establish a low VWAP.
2. Buy a bunch o’ shares at the SHMP discount.
3. Churn the stock to give the appearance of activity.
4. Wait for a fluffy SHMP PR.
5. Sell
6. See Number 1.
A non-cynical person might see a different pattern.
So…based on your premise, I could show… you let’s say…five white shrimp…and you could accurately grade them on marbling and other parameters?
This IS your first rodeo. And, obviously, your first attempt to argue that one white shrimp is distinguishable from another.
Let me give you some advice…
You will be tempted to use the word “buttery”…avoid at all costs, lest you further demonstrate that this IS your first rodeo.
Oh…here we go. Cue the “Wagyu Distraction”.
To be followed by a discourse on how “sushi-grade” isn’t a made-up marketing term.
This is your first rodeo, right?
You could do a lot worse….
How lucky! Pacific White Shrimp! Rarer than a great white whale. Available no where else…not.
Still waiting for that first blind taste that shows one can distinguish between any producer of white shrimp…meaning white shrimp remains a commodity.
Produce it consistently and in sizes that the market wants, at prices that the market is willing to pay, and GRPS has a shot at success.
But as soon as adjectives like “gourmet” and “sushi-grade” come out…run. Those modifiers strongly suggest that the cost of production exceed what the market is willing to pay…requiring the indistinguishable suddenly becoming distinguishable.
Results? Really? A video?
Those two terms should be mutually exclusive, considering how SHMP has treated their “friends” and shareholders
The VWAP during the mini-pump doesn’t matter. It’s the LOWEST from a 10-day look back. The VWAP’s been below a penny for a few days.
Looks like another 18M SHMP shares out the door.
Those Iowa tax bills need to get paid.
I just watched RSHN’s video that projected 3.9M pounds annually and $55M annual revenue. Those projections need further investigating, given that SHMP struggles to get $10 per pound and GRSP gets $3 per pound (putting aside the potentially different sizes of shrimp and potential revenue from the sales of brood stock).
Wait…
3.9M pounds of shrimp annually (that’s the goal at least)…and $55M annual revenue?
That’s $14 per pound…that’s higher than the $10 per pound SHMP was shooting for…and higher than the $3 per pound GRSP is getting.
Not sure how realistic $14 is. Perhaps there are other revenue streams contributing to that $14? Like selling brood stock?
More research is needed into their financial projections.
Not until RIDEQ exits bankruptcy as a de facto shell. And then boom will be the sound the pps makes when it implodes.
What would that benefit GRPS? Unless GRPS wanted to get into indoor shrimp where they have to sell shrimp at prices the market appears to reject.
Otherwise, SHMP has a lot of useless assets.
The SHMP VWAP is well below a penny again.
SHMPoo. Rinse. Repeat.
No idea, but I thought it was interesting that Easterling signed the 8-K for that Redhawk PR, and not Delgado. Perhaps Delgado thinks his time is better spent straightening out the mess that is GDSI?
I stand corrected. Thank you. $2.75/lb. Not sure what the size distribution is, but that price would suggest something a little bigger than 17g, but not much bigger.
GRPS seems to have a good business going being able to sell broodstock for nice $$. Another huge difference from SHMP.
Back to churn mode for GHS and SHMP.
GRPS reports that it grows shrimp to 17g and sells them for less than $2/lb.
All comparisons to SHMP stop right there.
GRPS appears to have identified a commercial market it can serve at the sizes and pricing that work for GRPS.
SHMP appears NOT to have done that, or be able to do it going forward.
No…you posted some dude’s fantasy.
RIDEQ is toast.
When all else fails…fire your auditor.
Trying to get their bag holders to buy over-priced shrimp from their e-commerce site.
Fuckery never gets old. So I ask again…was the creation…and the continued existence…of the Series A shares “genuine”?
Item 7.01 Regulation FD Disclosure.
As previously disclosed, on June 27, 2023 (the “Petition Date”), Lordstown Motors Corp., a Delaware corporation (the “Company”), and its subsidiaries (collectively, the “Debtors”), commenced voluntary proceedings under chapter 11 (“Chapter 11”) of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). The Chapter 11 proceedings are being jointly administered under the caption In re: Lordstown Motors Corp., et al., Cases No. 23-10831 through 23-10833 (the “Chapter 11 Cases”).
As also previously disclosed, the Joint Chapter 11 Plan of Lordstown Motors Corp. and Its Affiliated Debtors and accompanying Disclosure Statement Pursuant to 11 U.S.C. § 1125 with Respect to Joint Chapter 11 Plan of Lordstown Motors Corp. and Its Affiliated Debtors, originally filed on September 1, 2023 and as amended through February 29, 2024 (and as may be further modified, supplemented, or amended, the “Proposed Plan”) includes as a condition to confirmation of the Proposed Plan, that the Securities and Exchange Commission (“SEC”) approve an offer of settlement (the “Offer”) submitted by the Debtors to resolve claims relating to prior legacy issues at the Company, including the proof of claim that the SEC filed against the Debtors in the amount of $45 million (the “SEC Claim”) on January 4, 2024. On February 29, 2024, the SEC approved and authorized the entry of an administrative order with respect to the Company (the “Order”), to which the Company consented without admitting or denying the Order’s assertions of factual findings.
The Order directs the Company to cease and desist from committing or causing any violations and any future violations of Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933, Sections 13(a) and 14(a) of the Securities Exchange Act of 1934, and Rules 12b-20, 13a-11, 13a-11, 14a-3 and 14a-9 thereunder. The Order also provides that the Company will be liable to pay disgorgement in the amount of $25.5 million, which amount shall be deemed fully satisfied upon the occurrence of both of the following: (i) entry in the Chapter 11 Cases of an order confirming the Company’s Proposed Plan, which provides for the Company to fund no less than $3.0 million, and up to $10.0 million, to resolve claims asserted or that could have been asserted by the class in the action captioned In re Lordstown Motors Corp. Securities Litigation, Case No. 4:21-cv-00616 (DAR) pending in the U.S. District Court for the Northern District of Ohio (the “Ohio Securities Litigation”), and such Proposed Plan having gone effective; and (ii) execution of a binding term sheet providing for the payment of no less than $15.5 million to resolve claims asserted or that could have been asserted by the class in the action captioned In re Lordstown Motors Corp. Stockholders Litigation, C.A. No. 2021-1066-LWW, pending in the Court of Chancery of the State of Delaware (the “Delaware Class Action Litigation”). Pursuant to the Ohio Securities Litigation Settlement incorporated into the Proposed Plan, the Company would pay $3 million into escrow on the effective date of the Proposed Plan (the “Effective Date”) for the benefit of the putative class members in the Ohio Securities Litigation. In addition, such putative class members would be entitled to receive a portion of any proceeds from litigation and other causes of action being retained by the Company following the Effective Date (net of actual reasonable costs incurred in prosecuting such retained causes of action) in an amount equal to the lesser of (a) 25% of such net proceeds, and (b) $7 million. With respect to the Delaware Class Action Litigation, the parties to that action have executed a binding term sheet that the SEC has confirmed satisfies the criteria set forth in the Order. The Company is not a party to the Delaware Class Action Litigation, the term sheet, or any settlement thereof; however, the former directors of DiamondPeak (predecessor to the Company), including a current director, who are defendants in the Delaware Class Action Litigation, have filed proofs of claim asserting indemnification claims against the Company and it is anticipated that such former directors will seek indemnification from the Company with respect to $3.5 million of the settlement amount plus legal fees and expenses incurred in connection with the Delaware Class Action Litigation. The amount and treatment of those claims, and any objections thereto, have not been determined or resolved.
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001759546/000110465924029680/tm247705d1_8k.htm
BWAHAHAHA!!!!
Fool me once, shame on me. Fool me twice...can't get fooled again.
Burns doesn't need RIDEQ. RIDEQ brings nothing to the table except a ticker symbol. There are other shells out there. Burns can have his pick.
Their "intent" included the creation of the Series A shares. How "genuine" was that?
Reading comprehension not your jam? Who said RIDEQ was paying the SEC? The settlement with the SEC was that RIDEQ committed to paying out $25M via the various class actions RIDEQ is fighting. The SEC accepted that as RIDEQ's penalty, which makes sense. The money should go to the the folks that Burns hurt.
It's unfortunate that Burns isn't part of that settlement. He got to buy RIDEQ's non-cash assets for $10M. Now RIDEQ is approaching shell-dom.
PS. Even RIDEQ's auditor had to pay a fine to the SEC.
How about Mr. "I Got Fooled by SHMP and Bailed Cuz I Don't Understand SHMP" EQ?
Yes, over. RIDEQ will be paying out $25M to settle the class-action law suits. That's a good chunk of RIDEQ's remaining cash.
If all this EV institutional knowledge resides in one or more of the NINE full-time employees remaining at RIDEQ, then Burns can just hire those individuals.
Otherwise, RIDEQ has nothing left to offer, except a stock ticker and some cash. If Burns wants to take his current rehash of Lordstown public, then buying the ashes of RIDEQ would make sense to me. Provided the SEC allows it.
You sure? One or more of those NINE full-time employees RIDEQ has might be selling their house...cuz they'll need to find a new job very shortly.
BWAHAHAHA!!!! They compared GRPS to SHMP.
Sure...SHMP went to a dollar...four years ago. Now it's trading just above a penny. And GRPS hasn't shown it's cracked the "tech" problem any more than SHMP has.
But I wish GRPS luck. If they can push out enough of a "story", they might be SHMP redux. The trick is to get out with profits before the end of the "story".
Nice analysis.
But on what basis would an investor be willing to sink all that money into a de facto shell that has no IP or tangible assets besides its dwindling bank account?
Oh...I read your post. You misjudged and misplayed SHMP and bailed. That's not how it works in SHMPland.
Don't hate the playa...hate the game.