Shareholder Update / Newsletter 5/28
Dear Shareholders,
We are thrilled to share some exciting updates on the company's recentprogress and key deliverables!
2023 Year-End Audited Financials: We are diligently finalizing our 2023 financial audit, anticipating completion within the next 35-40 days. While our 2023 year-end financials will reflect a portion of our harvest revenues, the majority from shrimp sales will be showcased in our 1Q24 financials. The slight delay in the audit is due to our successful S-1completion earlier this year, which became effective in mid-February, and our commitment to adhering to SEC reporting requirements. We eagerly await sharing the full harvest revenue details in our forthcoming 10K and 10Q filings.
Ticker and Name Change with FINRA: We recognize the extended timeline for this process and appreciate your patience. We are diligently working with FINRA to resolve historical gaps from our Delaware domicile period. We are nearing a resolution and will keep you updated, as this is crucial for our future marketing, branding, and overall company development strategy.
Broodstock Export to India: We are proud to have been approved as a preferred importer of Broodstock to India. Currently, we are securing USDA export permits. Collaborating closely with our APHIS-USDA certified veterinarian for animal health testing (with no issues in the past seven years) and coordinating a required site inspection, we aim to finalize these steps by summer. This will enable us to fulfill the impressive backlog of orders we’ve received.
Shrimp Sales Announcement: As mentioned on ourTwitter in March, we are on the verge of announcing final approval from our shrimp buyers. This will include details of the sale, the buyer, and our long-term collaboration plan. We are excited about this partnership and the opportunity to deliver our premium quality shrimp to consumers.
Thank you all for your unwavering support over the past two years. We have been working relentlessly to create value for our shareholders, and we are confident that the progress outlined above will significantly contribute to our shared success.
Best regards,
Adam
