NaturalShrimp Inc (SHMP)

[Running Q]

Diluting from 92.4 to 313.2 over the course of 14 months kind of looks like continual dilution to me. Now if the O/S structure is 313.2 million at the end of summer or into the fall/winter then I’d say dilution has stopped for the time being. But there are more notes coming due and more funds needed for expansion.

On the technology side Natural Shrimp has nailed it and absolutely crushed the systemic problem of indoor shrimp production. However as a business they are floundering. If they continue to go down the “do it alone path” and role out one facility at a time beginning with the LaCoste location it will be a multi year endeavor with continued dilution (probably not toxic dilution but they do need funds for expansion). If they get a JV or partner that could speed up expansion but also erode shareholder value.

Bottom line at the current O/S structure of 313.2 million is that each fully operational facility producing 6,000 lbs of shrimp a week is worth about .12-.13 pps.