NaturalShrimp Inc (OTCMKTS: SHMP) recently fell below a dime and investors are looking for a turnaround from current levels. In early 2021 SHMP ran to $0.90 per share but the stock has struggled since than and has recently hit net 52 week lows.
NaturalShrimp Inc (OTCMKTS: SHMP) 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.
SHMP current system consists of a nursery tank where the shrimp are acclimated, then moved to a larger grow-out tank for the rest of the twenty-week cycle. During 2016, the Company engaged in additional engineering projects with third parties to further enhance our indoor production capabilities. For example, through our relationship with Trane, Inc., a division of Ingersoll-Rand Plc (“Trane”), Trane provided a detailed audit to use data to build and verify the capabilities of then initial Phase 1 prototype of a Trane-proposed three tank system at our La Coste, Texas facility. The Company working with F&T Water Solutions contracted RGA Labs, Inc. (“RGA Labs”) to build the initial NaturalShrimp patented Electrocoagulation system for the grow-out, harvesting and processing of fully mature, antibiotic-free Pacific White Leg shrimp.
In January SHMP reported a first successful month with strong demand after launching its online ordering home delivery program and e-commerce website. NaturalShrimp’s Harvest-Select online retail store, launched just in time for the holiday season, is led by NaturalShrimp Chef and Director of e-commerce Douwe Iedema. Product availability includes fresh harvested heads-on shrimp and Chef Douwe’s long-awaited shrimp cocktail sauce. Unique NaturalShrimp sauces and spices, recipe books and instructional videos for the home cook will be available soon as well.
Earlier this month SHMP provided an update on its partnership with US Foods, South Texas area, including an exclusive grow out program for their customers in Austin, Houston, and San Antonio. US Foods is one of America’s great food companies and a leading foodservice distributor, partnering with approximately 250,000 restaurants and foodservice operators to help their businesses succeed. With 70 broadline locations and more than 80 cash and carry stores, US Foods and its 28,000 associates provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology, and business solutions.
NaturalShrimp has recently commenced deliveries of fresh shrimp to customers of US Foods, Southern Texas division, as part of a strategic program to educate and build interest in the product. Weekly deliveries and route cycles have been finalized and are supported with training, education, and marketing collateral.
On February 15 SHMP announced the beginning of a prawn farm wastewater trial in Mackay, Australia. The study is funded by the Fisheries Research and Development Corporation (FRDC) and the Australian Prawn Farmers Association. This collaborative effort between NaturalShrimp, its wholly owned subsidiary Natural Aquatic Systems, industry, suppliers and the FRDC aims to evaluate the Company’s patented electrocoagulation (EC) technology for the coagulation of microalgae and reduction of total nitrogen in wastewater. The project is being conducted by Nautilus Collaboration, Natural Aquatic Systems, and Fresh By Design. EC has been proven to be an effective method for wastewater treatment and is highly favored over chemical coagulation because it does not require additional chemicals.
Tom Untermeyer, Chief Technology Officer of NaturalShrimp, added, “With our success utilizing EC technology with shrimp, we are excited to study its use with prawns with this trial program. It not only offers a solution but also provides an opportunity to test new sensors and remote access in a rugged outdoor realistic setting for use in our next generation EC systems. We believe a successful test will lead to licensing opportunities of our technology for the treatment of aquaculture wastewater worldwide and look forward to sharing trial results in the months ahead.”