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
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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.
