NaturalShrimp Inc (SHMP)

[MFranny]

None of that shows Easterling "unduly controls the Series A." That issue doesn't start until AFTER the December 6. 2021, Order approving the Joint Motion AND NSI does not retire / cancel the Series A. IN FACT, I was the FIRST and ONLY person on this site to raise the issue that the SERIES A, having been reconverted back into common shares, no longer are supported by valid consideration and have to be canceled / returned to the Treasury. The issue of conversion is moot based on this issue. The YOTA merger agreement identified this and contemplated the same outcome when it specified that upon closing, the SERIES A would be returned to the treasury and canceled WITHOUT CONSIDERATION PAID.

However, I will indulge you further because I am still feeling generous (but not generous enough to continue to spoon feed citations). A recent NSI filing expressly represents the number of common shares that the SERIES A are convertible into. It was something like 30,000,000.

Bottom line: IMO, SERIES A are illegit. However, if NSI wants to act like they are legit, then you must state an actual controversy wherein NSI's voting of the SERIES A materially harmed common shareholders. Remember, you have to overcome the Business Judgment Rule. Pesky tough standard. The floor is yours.