NaturalShrimp Inc (SHMP)

[stuba]

I am shocked this stock has increased in any value whatsoever from its $.01 mid-November opening price after the company released its last quarterly report. I assume most of the individuals on this forum haven't read the company's most recent 10-Q. I'll share some highlights:

In the company's own words, "We have not earned any significant revenues since our inception and we do not anticipate earning revenues in the near future." Note: this is a company that was incorporated almost a decade ago as Multiplayer Online Dragon, Inc. (???) and has spent more than $35mm with almost nothing to show for it - no revenue, no viable product, and a whopping $4,800 in cash on hand. This is obviously a problem, given their ~$1mm quarterly debt and finance expenses. This is an even bigger problem given the company's own analysis of its financial outlook.

We will require additional funds to implement our growth strategy for our business. In addition, while we have received capital from various private placements that have enabled us to fund our operations, these funds have been largely used to develop our processes, although additional funds are needed for other corporate operational and working capital purposes. (italics are mine)

The company goes on to say (italics are mine):

There can be no assurance that additional financing will be available to us when needed or, if available, that such financing can be obtained on commercially reasonable terms. If we are not able to obtain the additional necessary financing on a timely basis, or if we are unable to generate significant revenues from operations, we will not be able to meet our other obligations as they become due, and we will be forced to scale down or perhaps even cease our operations.

At this point, with money dwindling and a significant amount of capital still necessary to implement its "growth strategy," the company seems to be spending the majority of the little money it has left on debt expenses and general/administrative expenses.

Furthermore, according to the company's quarterly report:

Presently, the Company does not have sufficient cash resources to meet its plans in the twelve months following September 30, 2018. These factors raise substantial doubt about the Company’s ability to continue as a going concern

You might think that after burning through $35,000,000 over ten years and after taking on a 164.94% debt to asset ratio they would be on the cusp of a revolutionary shrimp-related breakthrough. On the contrary, after nearly 20 years of R&D and burning through a mountain of cash, the company still has yet to produce a batch of shrimp they can confidently deem commercially viable.

Maybe I'm missing something.