NaturalShrimp Inc (SHMP)

[alexbh2285]

Probably higher than that but I'll wing it with a 20 day maturity 20 day lookback model rather than build a perpetual callable lookback model to get a minimum (winging it will be super conservative). The value of the preferred B shares is the lookback option (and to some degree the dividend). Average 20 day for for the past 2 years has been about 110. A daily lookback on a 20 day call is worth over 18% of the share price. This is a perpetual preferred so worth much more than that (it is also callable at 135% of issue but then the holder gets additional shares so that overall more valuable). It also has a 10% dividend so the minimum would be over 28% - you can't look at it as owning 18 (20 day options) of these in a year (which obviously would imply much more) as once it is exercised it is gone but it is much more than owning one of these worth over 28% as if you happen to hit a non-volatile period you can hold on for longer which has a ton of value.