NaturalShrimp, Inc. Continues Production Despite Setbacks
NaturalShrimp, Inc. (OTCQB: SHMP), a Biotechnology Aquaculture Company, is continuing production despite recent setbacks. The company has entered into discussions with Streeterville Capital, to resolve ongoing litigation and maintain its shrimp production. Despite legal challenges, Streeterville has shown interest in NaturalShrimp's technology, agreeing to a $500,000 Line of Credit Agreement after touring the Webster City Facilities in Iowa.
NaturalShrimp is avoiding bankruptcy and instead seeking an amenable solution with Streeterville. The company's long-term goals include increasing production, expanding operations, and uplisting to a national exchange. This approach demonstrates NaturalShrimp's commitment to growth and shareholder value despite current challenges.
NaturalShrimp, Inc. (OTCQB: SHMP), un'azienda di biotecnologie nel settore dell'acquacoltura, sta continuando la produzione nonostante recenti difficoltà. L'azienda ha avviato discussioni con Streeterville Capital per risolvere la controversia legale in corso e mantenere la sua produzione di gamberi. Nonostante le sfide legali, Streeterville ha mostrato interesse per la tecnologia di NaturalShrimp, accettando un Contratto di Linea di Credito di $500.000 dopo aver visitato le strutture di Webster City in Iowa.
NaturalShrimp sta evitando il fallimento e cerca invece una soluzione favorevole con Streeterville. Gli obiettivi a lungo termine dell'azienda includono l'aumento della produzione, l'espansione delle operazioni e il passaggio a una borsa nazionale. Questo approccio dimostra l'impegno di NaturalShrimp per la crescita e il valore per gli azionisti, nonostante le sfide attuali.
NaturalShrimp, Inc. (OTCQB: SHMP), una empresa de biotecnología en acuicultura, está continuando la producción a pesar de los contratiempos recientes. La empresa ha iniciado conversaciones con Streeterville Capital para resolver el litigio en curso y mantener su producción de camarones. A pesar de los desafíos legales, Streeterville ha mostrado interés en la tecnología de NaturalShrimp, aceptando un Contrato de Línea de Crédito de $500,000 tras recorrer las instalaciones de Webster City en Iowa.
NaturalShrimp está evitando la bancarrota y, en su lugar, busca una solución amigable con Streeterville. Los objetivos a largo plazo de la empresa incluyen aumentar la producción, expandir las operaciones y cotizar en una bolsa nacional. Este enfoque demuestra el compromiso de NaturalShrimp con el crecimiento y el valor para los accionistas a pesar de los desafíos actuales.
내츄럴쉬림프(NaturalShrimp, Inc.) (OTCQB: SHMP)는 생명공학 양식 회사로서 최근의 어려움에도 불구하고 생산을 계속하고 있습니다. 이 회사는 지속중인 소송을 해결하고 새우 생산을 유지하기 위해 스트리트에빌 캐피탈(Streeterville Capital)과 논의 중입니다. 법적 도전에도 불구하고, 스트리트에빌은 내츄럴쉬림프의 기술에 관심을 보이며, 아이오와의 웹스터 시 시설을 투어한 후 50만 달러의 신용 한도 계약에 동의했습니다.
내츄럴쉬림프는 파산을 피하고 대신 스트리트에빌과의 원만한 해결책을 찾고 있습니다. 회사의 장기 목표에는 생산 증가, 운영 확장 및 국가 거래소 상장이 포함됩니다. 이러한 접근 방식은 현재의 어려움에도 불구하고 내츄럴쉬림프의 성장과 주주 가치를 향한 헌신을 보여줍니다.
NaturalShrimp, Inc. (OTCQB: SHMP), une entreprise de biotechnologie aquacole, poursuit sa production malgré des revers récents. L'entreprise a entamé des discussions avec Streeterville Capital pour résoudre un litige en cours et maintenir sa production de crevettes. Malgré les défis juridiques, Streeterville a montré un intérêt pour la technologie de NaturalShrimp, acceptant un Contrat de Ligne de Crédit de 500 000 $ après avoir visité les installations de Webster City, dans l'Iowa.
NaturalShrimp évite la faillite et cherche plutôt une solution amiable avec Streeterville. Les objectifs à long terme de l'entreprise incluent l'augmentation de la production, l'expansion des opérations et l'inscription à une bourse nationale. Cette approche démontre l'engagement de NaturalShrimp envers la croissance et la valeur pour les actionnaires malgré les défis actuels.
NaturalShrimp, Inc. (OTCQB: SHMP), ein biotechnologisches Aquakulturunternehmen, setzt die Produktion trotz jüngster Rückschläge fort. Das Unternehmen ist in Gesprächen mit Streeterville Capital, um laufende Rechtsstreitigkeiten zu lösen und die Garnelenproduktion aufrechtzuerhalten. Trotz rechtlicher Herausforderungen hat Streeterville Interesse an der Technologie von NaturalShrimp gezeigt und einem Kreditlinienvertrag über 500.000 $ zugestimmt, nachdem sie die Einrichtungen in Webster City, Iowa, besichtigt haben.
NaturalShrimp vermeidet die Insolvenz und sucht stattdessen nach einer einvernehmlichen Lösung mit Streeterville. Zu den langfristigen Zielen des Unternehmens gehören die Steigerung der Produktion, die Erweiterung der Betriebe und die Auflistung an einer nationalen Börse. Dieser Ansatz zeigt das Engagement von NaturalShrimp für Wachstum und Wert für die Aktionäre trotz der aktuellen Herausforderungen.
- Secured a $500,000 Line of Credit Agreement with Streeterville Capital
- Continuing shrimp production despite legal challenges
- Avoiding bankruptcy and seeking resolution with Streeterville
- Long-term plans for increased production and expansion
- Aiming to uplist to a national exchange
- Ongoing litigation with Streeterville Capital
- Reliance on external funding for operational costs
- Potential financial instability due to legal issues
DALLAS, TX, Sept. 17, 2024 (GLOBE NEWSWIRE) -- NaturalShrimp, Inc. (OTCQB: SHMP) (the “Company” or “NSI”), a Biotechnology Aquaculture Company that has developed and patented the first seafood-focused commercially operational RAS (Recirculating Aquaculture System), today announced that, despite recent litigation, it has entered into discussions with Streeterville Capital, LLC (“Streeterville”) to resolve current issues, including the litigation, and to continue growing and expanding the production of the Company’s sushi grade shrimp.
Notwithstanding the litigation in Utah, the principals of both the Company and Streeterville seek a resolution that works for both companies. In this respect, prior to the filing of the lawsuit, representatives of Streeterville toured the Company’s Webster City Facilities in Iowa and were impressed enough by the technology and the work of the Company’s employees that Streeterville agreed to and did enter into a Line of Credit Agreement totaling up to
Rather than shutting down its operations in response to the litigation or seeking protection under U.S. Bankruptcy Laws, Gerald Easterling stated that a better alternative is to continue seeking an amenable solution with Streeterville. Over the long term, the Company seeks to increase its production, grow its shrimp and expand its operations and ultimately uplist to a national exchange.
About Natural Shrimp
Natural Shrimp, Incorporated 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, naturally grown shrimp, without the use of antibiotics or toxic chemicals. Natural Shrimp systems can be located anywhere in the world to produce gourmet-grade Pacific white shrimp. For more information visit www.naturalshrimp.com.
Forward-Looking Statements
This press release contains a number of forward-looking statements that reflect management's current views with respect to future events and financial performance. Forward-looking statements are projections in respect of future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. These statements include statements regarding the intent, belief or current expectations of us and members of our management team, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks set forth in the section entitled “Risk Factors” in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2024, any of which may cause our company’s or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in our forward-looking statements.
Investor Relations Contact
Donna Gazda
dgazda@naturalshrimp.com
FAQ
What is the current status of NaturalShrimp's production amid legal challenges?
Has NaturalShrimp secured any funding amid its legal issues?
What are NaturalShrimp's long-term goals according to the September 17, 2024 press release?
How has Streeterville Capital responded to NaturalShrimp's technology?
