Sir, I've always said I hope this goes to $5 for all shrimp shareholders. However, posting a picture of 50 pounds of live shrimp in a tank with plumbing equipment is not cracking the code.
Allow me to give you some unequivocal facts:
What you see in that picture was accomplished by Natural Shrimp over 12 years ago. The problem has always been and the question remains what happens when they scale and increase the density in the grow out tanks. WE DON"T KNOW THE ANSWER TO THAT QUESTION.
Second, the live shrimp market has always been a dumb dream because anyone that knows anything about distribution will confirm it's a logistical nightmare.
Third, the US market is not and will not be a heads-on market. If anyone analyzes it, they will realize why very quickly. Lobster are different. The claw meat is different than the tail meat. That is why there is a large market for whole "fresh lobster". The reason why live lobster works is because they are simple to keep alive. Have you ever bought live lobster? Most people have. What are you told? Keep a wet towel in a cooler and put the lobster in a cooler and they could be alive 24 hours later. Try that with shrimp.
As far as selling live shrimp, two choices. One, use a distributor. Two, sell direct. SHMP does not have the logistics to sell direct. If they use a distributor based on what I believe is their minimum cost, they can't possibly make money. Of course, you don't have to believe me. Just do some research and research what a distributor's mark-up is and what a retail mark-up is. They can't make money at 14.99 and that is even if they sell at 14.99. The equivalent size shrimp will be selling for less than $10 a pound in most places in the United States including seafood stores that do not sell Costco quality shrimp. (the shrimp that SHMP will sell will be 21-25 per pound heads off at the maximum). In my local area, i can buy shrimp at Whole Foods at 21-25 per pound heads off for less than $11 per poiund.
This what will impress me. I am not even asking for profitably right now, Show me videos that for 30 days in a row, they can pull 300 pounds of shrimp out for 30 days in a row out of any facility. So you understand, that is 9000 pounds of shrimp for the month. That is 108,000 pounds for the year. If they are selling to a distributor, I'll give them the benefit of the doubt which by the way is dreamland that they'll get $9 per pound. That is $972,000 in revenue for the year. BTW, that means the facility bleeds money but at least we have the consistent production part of the equation solved.
If you analyze what I said in the previous paragraph, you'll understand the challenge ahead. Note, I have never said and will never say this a scam. What I will say is that I don't believe shrimp has cracked the code with electricity intensive equipment that is extremely expensive that costs alot of money to run that in my opinion, emanates from a company called Lattitude Systems which Peter Letezia was involved with that bankrupt many years ago. They too were using EC tech and it didn't end well.
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