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Series E, F and warrants will convert
“Convertible Note” means the Secured Convertible Promissory Note in the initial amount of $16,320,000.00 issued by the Company to Streeterville Capital, LLC, with an effective date of December 15, 2021.
(d) enter into a written binding agreement with the holder of the Convertible Note to amend the Convertible Note to eliminate the conversion features thereof or obtain from the holder of the Convertible Note an irrevocable waiver of such holder’s ability to convert the Redemption Amount (as defined in the Convertible Note) into shares of Company Common Stock
How much does 1 share of series f cost?
Where can I buy it?
Do I get 8% of the common stock after 3 years?
thermal extraction hibernation shrimp
This discussion of assets seems intangible.
SHMP is talking with commercial customers.
We can update the talking points.
"there are no longer any shares of Series D Preferred Stock outstanding"
Wrong, check the as of dates on of S 11 vs S 15
Wrong again!
Try reading page S 11 of that prospectus
" Any shares of Common Stock issuable pursuant to the Series A, Series B, and Series D Preferred Shares outstanding as of April 13, 2021 as to 336,810,819 shares of Common Stock issuable pursuant to the conversion of Series A Preferred Stock"
NOTED AND CORRECTED
False!
The loi for F&T is for "Assets"
This mornings action looks like a smash and grab to maximize share count for Hydrenesis. $7m at what share price? It looks like it will rise back up today.
That looked like a stop loss raid
You may want to review the word alternative in ***
Look at p10 center column of the pdf you linked to. Also pay close attention to the "or" in ***
Keep reading until you find $2 on the NASDAQ listing requirements.
By this logic the share price should have doubled when the class A shares were issued and the 75m shares were returned.
It is amazing to see how much effort is being spent, to not buy shares!
or (ii)
net tangible assets of $5 million
Sorry, section 5505 not 5005
Section 5505 (a)(1)(b) $2 rule 5505(b)
https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5500-series
Section 5005 (a)(1)(b) $2 rule 5005(b)
https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5500-series
Market value of listed securities standard
$2.00 for 90 consecutive days.
NASDAQ Initial listing guide June 2020 pg 10.
* Currently traded companies qualifying solely under the Market Value Standard must meet the $50 million Market Value of Listed Securities and the applicable bid price requirement for 90 consecutive trading days before applying. ** Effective August 2019 Nasdaq’s initial listing criteria were revised to exclude securities subject to resale restrictions for any reason from the calculation of publicly held shares, market value of publicly held shares and round lot shareholders. In addition, the round lot shareholder requirements were revised to also require that at least half of the minimum required number of round lot holders must each hold unrestricted securities with a minimum value of $2,500. *** To qualify under the closing price alternative, a company must have: (i) average annual revenues of $6 million for three years, or (ii) net tangible assets of $5 million, or (iii) net tangible assets of $2 million and a 3 year operating history, in addition to satisfying the other financial and liquidity requirements listed above.
2 x nothing = 1.27m shares free ride
The better question is, how would anyone not know that they are going to be profitable? I believe they will close on the deal on VeroBlue by the end of Oct. 8k
Wrong. They brought in a few PL for testing of the new equipment to insure proper operation. They have not started production yet.
Revenue is not required for the Nasdaq Capital Market - Equity Standard.
Perhaps some are holding 1m shares free ride after profiting $100k
Conspiracy?
Let me see if I have this straight.
So am I to believe that:
NaturalShrimp
F&T Water Solutions
Trane
Ingersoll Rand
Hydrenisis
IP Automation
The US Patent Office
The SEC
are pulling the wool over investors eyes or allowing it to happen?
I think I will go with NaturalShrimp.
I am hanging on to my 1.1m shares.
This is going to be a fun ride!
Good to see a new report from Ingersoll Rand on SHMP.
http://naturalshrimp.com/ingersoll-rand-trane-submits-naturalshrimp-technology-report/
I was going off of SHMP prior projections for tank size and output per week.
A 65,000 gal tank would produce 6000 to 7000 lb. That is approximately 1 lb per 10 gal. 15,000 ÷ 10 = 1,500 lb.
NaturalShrimp, Inc., Provides Update on La Coste, Texas Plant Upgrade; Announces Purchase of 20 New Fiberglass Tanks from Texas Manufacturer
GlobeNewswireSeptember 25, 2019, 7:30 AM CDT
Dallas, Texas, Sept. 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- NaturalShrimp, Inc. (SHMP), the aquaculture Company that developed and patented the first commercially-operational RAS (Recirculating Aquaculture System) for shrimp, announced today that the upgrade of its La Coste, Texas pilot plant is proceeding well.
NaturalShrimp has purchased 20 new fiberglass tanks at an approximate purchase price of $200,000. The tanks are being purchased from Red Ewald, a manufacturer based in Karnes City, Texas, and these tanks will work in conjunction with the previously announced EC and filtration units at the plant. When completed, the facility will contain 40 separate grow out fiberglass tanks that will allow year-round shrimp production when fully stocked. In addition to generating revenue, this facility will also serve as a future research facility for other shrimp production facilities.
Tom Untermeyer, Chief Technology Officer of NaturalShrimp, commented: “After extensive research and review of tank options, we concluded that the Red Ewald’s fiberglass tanks are the most operationally functional tanks available. I am really looking forward to completing the upgrade of the La Coste facility and growing fresh, natural shrimp without toxic chemicals or antibiotics.”
Don't forget that Bill still owns 25% of the company. 1/ 2 of the 5m preferred shares.
At what age do shrimp start to multiply? Is SHMP going to start their own hatchery from the ones they left in the tank?
I got a reply from F&T
I sent this question to F&T using FB Messaging.
How many EC units will be needed for a facility with 24 x 65,000 tanks for shrimp?
Response from F&T Water Solutions
we use one chamber/filter per tank so 24....
Quote from CEO interview.
Bill Williams: We have run our last test with our new equipment and it has been very successful. We have ordered two more of our redesigned units from the manufacturer for installation at our facility in in La Coste, Texas, which is about 30 minutes from San Antonio, Texas. We have sixteen tanks, ranging from 45,000, 55,000 and 65,000 gallons and we will fill those tanks with shrimp and get back into full production. Once we get back into full production with our existing facility, we will build another facility at the property we own there.
Wow, that was a great read. Perfect fit for SHMP. I love the part about 3rd party audits.
Interesting articles about Tru Shrimp:
NaturalShrimp does not appear to have the problems of discharge like others do.
https://www.argusleader.com/story/news/2019/01/31/tru-shrimps-plans-prompt-bills-regulating-saltwater-aquaculture/2730379002/?fbclid=IwAR0O_CiU4Fedqe0HHcxjLmKVkn_-vb1tnStYiGPnTkY8FcIrJSSXpGeFHMU
"The law outlines provisions that include keeping disease from spreading among animals such as cattle."
https://www.argusleader.com/story/news/business-journal/2019/01/04/south-dakota-tru-shrimp-minnesota-dennis-daugaard-economic-development-madison/2483523002/
In my opinion NaturalShrimp will have plenty of financing opportunities. GLTA!
They did cancel the 75m shares, as they only hold 520,240 common shares now. The 75m shares were returned to the A/S.
Bill Williams and Gerald Easterling own a total of 5,000,000 shares of Series A
Stock that carry voting rights of 60 x common share. These shares were created
from 75,000,000 common shares a few months ago. Additionally these shares are
convertible to common shares after 2 years at 100% of outstanding number of
common shares. They also hold 520,240 common shares. This means that they will
hold voting ownership as long as there is less than 301,040,480 common shares
outstanding, and then in 2 years they can convert to 51% ownership.
They have guaranteed themselves ownership of the company. (from S-1 filing Dec 14,18)
They are not going to dilute past 300,000,000 until at least aug 2021 (which I don't think will happen to begin with). These men have invested a lot of money and time into this company, this is not a scam. They have loaned the company money and personally guaranteed a loan. Buy out or build out, either will be great. This company has a solution for a global problem!
Holding long over 900,000 shares. GLTA
---------------------------
excerpts from S-1 Dec 14,2018:
On August 21, 2018, the Company entered into a Stock Exchange Agreement (the
“Exchange Agreement”) with NaturalShrimp Holdings, Inc. (“NaturalShrimp”), the
Company’s majority shareholder, which is controlled by the Company’s CEO and
President. Pursuant to the Exchange Agreement, the Company and NaturalShrimp
exchanged 75,000,000 shares of common stock for 5,000,000 shares of Series A
Stock. The 75,000,000 shares of common stock will be cancelled and returned to
the authorized but unissued shares of common stock of the Company. Bill G.
Williams and Gerald Easterling share voting and dispositive power of the shares
beneficially owned by NaturalShrimp Holdings, Inc.
Bill G. Williams
We have entered into several working capital notes payable to Bill Williams, an
officer, a director, and a shareholder of the Company, for a total of $486,500
since inception. These notes are demand notes, had stock issued in lieu of
interest and have no set monthly payment or maturity date. The balance of these
notes at March 31, 2018 and 2017 was $426,404 and $426,404, respectively, and is
classified as a current liability on the consolidated balance sheets. At March
31, 2018 and 2017, accrued interest payable was $206,920 and $172,808,
respectively. We repaid $0 during the years ended March 31, 2018 and 2017
Gerald Easterling
On January 10, 2017, we entered into a promissory note agreement with Community
National Bank in the principal amount of $245,000, with an annual interest rate
of 5% and a maturity date of January 10, 2020 (the “CNB Note”). The CNB Note is
secured by certain real property owned by the Company in La Coste, Texas, and is
also personally guaranteed by the Company’s President and Chairman of the Board,
as well as certain non-affiliated shareholders of the Company. As consideration
for the guarantee, the Company issued 600,000 shares of common stock to the
guaranteeing shareholders, not including the Company’s President and Chairman of
the Board, which was recognized as debt issuance costs. The fair value of this
issuance is estimated to be $264,000, based on the market value of our common
stock on the date of issuance. The balance of the CNB Note is $236,413 as of
March 31, 2018.