Phoenix, Arizona--(Newsfile Corp. - May 17, 2021) - The Stock Day Podcast welcomed NaturalShrimp, Inc. (OTCQB: SHMP) ("the Company"), a publicly traded aquaculture Company, headquartered in Dallas with production facilities located near San Antonio, Texas and Webster City, Iowa. CEO of the Company, Gerald Easterling, joined Stock Day host, Everett Jolly.
Jolly began the interview by asking for an update on the Company's La Coste, Texas facility. "By the 15th of this month we should have almost half of our tanks, which would be 20 grow-out tanks and 10 nursery tanks, stocked in La Coste," shared Easterling. "We're stocking every month there, so we should have production by the 4th quarter of this year in that facility."
"Where are we at with the Webster City, Iowa facility?" asked Jolly. "We stocked our first nursery tanks on the 24th of March, and it's going great up there," said Easterling. "We are able to test transporting our PLs from the actual nursery to the new grow-out facility in Webster City," he added. "It looks like we will transfer the first shrimp from the nursery system over to Webster City next week."
Jolly then asked about the Company's operations in Florida. "We have a joint venture in Florida with Hydrenesis Aquaculture, LLC, and we're moving through the presentations. It looks like we couldreceive funding commitments somewhere in the third quarter for about a $25 million project," shared Easterling. "It's very positive and it looks like we are on target to get there."
"Could you give us an update on the LOI for the F&T project?" asked Jolly. "I'm excited to say that we're almost ready to close it," said Easterling. "The final closing will be announced within the next seven days, and then we will be moving forward with the Hydrenesis LOI."
"We were originally going to uplist and raise our capital to close these platform technologies, but now we are actually getting funding prior to the uplisting, which is a really great thing for the company and shareholders," continued Easterling. "We should have Hydrenesis and F&T close before the 15th of this month."
Easterling then took a moment to elaborate on the Company's background and business model, as well as their expansion strategy. He then shared the significance of the Company's technology in this space. "We are able to treat ammonia, that sets us apart and that is what our patents are all about," he explained, noting that the technology gained through the Hydrenesis acquisition is also of significant value. "The combined platform technologies give us a footprint that nobody in the world has."
"How long does it take to grow shrimp, take it through a commercial process, and bring it to market?" asked Jolly. "PLs are about the size of an eyelash and they grow to a 6-inch shrimp in about 24 weeks," explained Easterling, adding that the Company is currently conducting genetic selection testing to shorten this time. "We are actually testing those particular shrimp as we speak, and we will be able to talk about it in a few months."
"I think we will be producing revenue in the 4th quarter," continued Easterling. "We are bringing in a new President of our US operations, and he will start in January," he shared. "We're leasing a new corporate office in Dallas, expanding our personnel. So, we have a lot of things on our plate, but the beautiful thing for us is that the market is so strong."
"How much money do you think you will have to raise between now and December?" asked Jolly. "We are looking at a couple of new acquisitions. I can't disclose those yet, but they will be international acquisitions and we are looking at another $15 million," said Easterling. "We will probably have finished out another $30 million between now and the next 60 days, prior to our uplist."
"Where are we at in the process of uplisting to the NASDAQ?" asked Jolly. "We are targeting that within the next 60 days we should be uplisted. The reason that we delayed it a little bit is because we got the capital on the front end to be able to fund these acquisitions and get the technologies acquired prior to our uplisting."
To close the interview, Easterling thanked his shareholders for their continued support over the years, and expressed his confidence in the Company's future as they continue to grow. "We have a chance to really do something that no one in the world has ever done," closed Easterling.
To hear Gerald Easterling's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7866976-naturalshrimp-inc-discusses-upcoming-acquisitions-revenues-and-nasdaq-uplisting-with-the-stoc.
Investors Hangout is a proud sponsor of "Stock Day," and Stock Day Media encourages listeners to visit the Company's message board at https://investorshangout.com/.
ABOUT NATURALSHRIMP: NaturalShrimp, Inc. is a publicly traded aquaculture Company, headquartered in Dallas with production facilities located near San Antonio, Texas and Webster City, Iowa. The Company has developed the first commercially viable system for growing shrimp in enclosed, salt-water systems, using patented technology to produce fresh, never frozen, naturally grown shrimp, without the use of antibiotics or toxic chemicals. NaturalShrimp systems can be located anywhere in the world to produce gourmet-grade Pacific white shrimp.
Forward-Looking Statements
This press release contains "forward-looking statements." The statements contained in this press release that are not purely historical are forward-looking statements. Forward-looking statements give the Company's current expectations or forecasts of future events. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company's control and could cause the Company's results to differ materially from those described. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements include statements regarding moving forward with executing the Company's global growth strategy.
The statements are based upon current beliefs, expectations, and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict. The Company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, except as required by law. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business.
Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Important factors that could cause such differences include but are not limited to the Risk Factors and other information set forth in the Company's Annual Report on Form 10-K filed on March 30, 2015, and in our other filings with the U.S. Securities and Exchange Commission.
Contact: Paul Knopick
940.262.3584
pknopick@eandecommunications.com
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