Phoenix, Arizona--(Newsfile Corp. - December 24, 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. CFO of the Company, William Delgado, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's distribution progress. Delgado elaborated on the Company's recent distributor agreement with Gulf Seafood for 25,000 pounds of live shrimp involves a unique harvesting and packaging process. "Since we're selling a smaller shrimp, our cost now is at three dollars per pound," said Delgado. "We're shipping this week," he added.
"We're working on an approximately 300 store Midwest grocery store chain," he continued. "We're also going to be putting together a home delivery service directly from the company," said Delgado. "We're going to target our shareholders."
Delgado then elaborated on the Company's long-term plans, which includes additional distribution agreements. "We're fairly confident that we're going to end up getting a distribution deal with those folks by the end of the first quarter of next year," he shared.
Jolly then asked about the Company's expansion plan, as well as their capacity to harvest enough shrimp for their future upcoming and future agreements. "Webster City has the capacity to produce approximately a million pounds fully built out," explained Delgado, adding that this will be complete by the second quarter of next year. "We will be oversubscribed at the end of the first quarter of next year," he said. "We're going to be adding 80,000 square feet, which will triple the size of the Texas facility, and we're going to add another 80,000 square feet in Webster City, which will increase that capacity by 25%."
Jolly then asked about a recent announcement detailing the Company's appointment of Rafael Zelaya as their new Vice President of Production. "Rafael is basically a 30 year veteran of the industry who just brings a wealth of knowledge," said Delgado.
"Where are we at in the process of uplisting to the Nasdaq?" asked Jolly. "The Nasdaq uplist is critical to the company's expansion plans," said Delgado. "We have spoken to a significant number of institutional investors who have all expressed an interest," he continued. "Unfortunately, as an institutional investor they cannot do that when we're on the OTC," said Delgado.
"The one thing that has held us up is that we have a Series A that needs to be converted back into common shares into the company, which we believe will be completed by next Monday," shared Delgado. "If we get approval, we think we will be able to uplist by January. If we don't get approval, we will have to go through the registration process," he explained. "This is very critical for bringing in significant institutional investors into the company."
"Will you have to do some sort of reverse split?" asked Jolly. "Yes," said Delgado. "Unfortunately, I don't think our value is being unlocked here at the OTC level," he said. "I think once we do move, the underlying value of the company will be unlocked at that time."
To close the interview, Delgado shared that the Company is also considering an expansion into Europe based on significant interest in that area. He also encouraged listeners and shareholders to keep up to date on the Company's current and upcoming projects as they continue to build on the potential of their one-of-a-kind technology.
To hear William Delgado's entire interview, follow the link to the podcast here: https://audioboom.com/posts/8003148-naturalshrimp-inc-discusses-significant-expansion-strategy-and-upcoming-uplisting-with-the-stoc
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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. For more information visit www.naturalshrimp.com.
Forward-Looking Statements
This press release contains includes 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, 2021, 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
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
SHMP@mzgroup.us
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108490
