$SHMP
NaturalShrimp Inc Stock $shmp

$shmp Overview Financials Valuation SEC Filings Company Website

2023 Q3 Form 10-Q Financial Statement

#000149315223029450 Filed on August 18, 2023

Income Statement

Concept	2023 Q3	2023 Q2	2022 Q2
Revenue	$58.01K	$205.9K	$36.34K
YoY Change	12.15%	466.58%
Cost Of Revenue	$51.00K	$49.74K
YoY Change
Gross Profit	$7.010K	$156.1K	$36.34K
YoY Change	-86.45%	329.69%
Gross Profit Margin	12.08%	75.84%	100.0%
Selling, General & Admin	$2.561M	$1.657M	$1.858M
YoY Change	32.17%	-10.82%	-1.37%
% of Gross Profit	36539.37%	1061.1%	5112.75%
Research & Development			$172.6K
YoY Change
% of Gross Profit			475.13%
Depreciation & Amortization	$437.0K	$435.0K	$525.0K
YoY Change	7.11%	-17.14%	47.89%
% of Gross Profit	6233.95%	278.61%	1444.85%
Operating Expenses	$3.366M	$2.459M	$2.923M
YoY Change	23.84%	-15.88%	30.61%
Operating Profit	-$3.359M	-$2.303M	-$2.887M
YoY Change	25.98%	-20.23%	28.99%
Interest Expense	$702.0K	$178.7K	$686.6K
YoY Change	-103.34%	-73.98%	742.12%
% of Operating Profit
Other Income/Expense, Net	$712.2K	$4.456K	$686.6K
YoY Change	-103.26%	-99.35%	-311.5%
Pretax Income	-$2.647M	-$2.298M	-$2.200M
YoY Change	-89.21%	4.47%	-14.15%
Income Tax
% Of Pretax Income
Net Earnings	-$2.647M	-$2.298M	-$2.200M
YoY Change	-89.21%	4.47%	-14.15%
Net Earnings / Revenue	-4562.21%	-1116.44%	-6055.09%
Basic Earnings Per Share	$0.00	$0.00	$0.00
Diluted Earnings Per Share	$0.00	$0.00	-$3.304K
COMMON SHARES
Basic Shares Outstanding	880.4M shares	868.0M shares	666.0M shares
Diluted Shares Outstanding	877.5M shares	839.7M shares	666.0M shares

Balance Sheet

Concept	2023 Q3	2023 Q2	2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$47.09K	$69.77K	$664.4K
YoY Change	-91.61%	-89.5%	-88.88%
Cash & Equivalents	$47.09K	$69.77K	$664.4K
Short-Term Investments
Other Short-Term Assets	$248.0K	$1.646M	$1.993M
YoY Change	-94.71%	-17.43%	244.36%
Inventory	$40.06K	$46.66K	$104.5K
Prepaid Expenses	$247.9K	$254.1K	$1.993M
Receivables	$2.096K	$36.33K	$38.52K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$337.2K	$1.799M	$2.801M
YoY Change	-93.79%	-35.78%	-57.25%
LONG-TERM ASSETS
Property, Plant & Equipment	$14.18M	$14.63M	$15.80M
YoY Change	703.73%	-7.4%	28.05%
Goodwill
YoY Change
Intangibles	$6.074M
YoY Change
Long-Term Investments
YoY Change
Other Assets	$14.90M	$15.27M	$16.84M
YoY Change	-10.11%	-9.33%	75.56%
Total Long-Term Assets	$29.08M	$29.91M	$32.65M
YoY Change	-7.88%	-8.39%	48.83%
TOTAL ASSETS
Total Short-Term Assets	$337.2K	$1.799M	$2.801M
Total Long-Term Assets	$29.08M	$29.91M	$32.65M
Total Assets	$29.42M	$31.71M	$35.45M
YoY Change	-20.5%	-10.56%	24.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$3.676M	$3.545M	$3.252M
YoY Change	15.72%	9.02%	395.63%
Accrued Expenses	$2.448M	$2.228M	$218.6K
YoY Change	845.83%	919.56%	-61.56%
Deferred Revenue	$25.00K
YoY Change
Short-Term Debt	$900.2K	$760.2K	$515.5K
YoY Change	17.64%	47.49%	-0.15%
Long-Term Debt Due	$3.041M	$3.381M	$96.00K
YoY Change	-39.88%	3421.56%	-8.34%
Total Short-Term Liabilities	$10.59M	$10.58M	$19.68M
YoY Change	-75.8%	-46.23%	834.1%
LONG-TERM LIABILITIES
Long-Term Debt	$21.68M	$21.87M	$4.765M
YoY Change	219.73%	359.0%	-11.69%
Other Long-Term Liabilities	$95.05K	$106.2K	$268.3K
YoY Change	-62.0%	-60.42%
Total Long-Term Liabilities	$21.78M	$21.98M	$5.033M
YoY Change	209.71%	336.64%	-6.72%
TOTAL LIABILITIES
Total Short-Term Liabilities	$10.59M	$10.58M	$19.68M
Total Long-Term Liabilities	$21.78M	$21.98M	$5.033M
Total Liabilities	$32.37M	$32.56M	$24.71M
YoY Change	-36.28%	31.75%	229.37%
SHAREHOLDERS EQUITY
Retained Earnings	-$173.0M	-$170.2M	-$152.8M
YoY Change	-2.8%	11.44%	-343.03%
Common Stock	$90.07K	$86.89K	$74.10K
YoY Change	19.82%	17.27%	22.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$48.52M	-$46.26M	-$34.89M
YoY Change
Total Liabilities & Shareholders Equity	$29.42M	$31.71M	$35.45M
YoY Change	-20.5%	-10.56%	24.43%

Cashflow Statement

Concept	2023 Q3	2023 Q2	2022 Q2
OPERATING ACTIVITIES
Net Income	-$2.647M	-$2.298M	-$2.200M
YoY Change	-89.21%	4.47%	-14.15%
Depreciation, Depletion And Amortization	$437.0K	$435.0K	$525.0K
YoY Change	7.11%	-17.14%	47.89%
Cash From Operating Activities	-$799.6K	-$1.401M	-$2.055M
YoY Change	-49.27%	-31.81%	-4.03%
INVESTING ACTIVITIES
Capital Expenditures	$9.490K	$39.31K	-$491.1K
YoY Change	-96.64%	-108.0%	-219.41%
Acquisitions
YoY Change
Other Investing Activities	$40.00K	$19.00K	$0.00
YoY Change			-100.0%
Cash From Investing Activities	$30.51K	-$20.31K	-$491.1K
YoY Change	-89.19%	-95.86%	-88.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$0.00
YoY Change			-100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	746.4K	$1.275M	$1.476M
YoY Change	-37.32%	-13.65%	-87.82%
NET CHANGE
Cash From Operating Activities	-799.6K	-$1.401M	-$2.055M
Cash From Investing Activities	30.51K	-$20.31K	-$491.1K
Cash From Financing Activities	746.4K	$1.275M	$1.476M
Net Change In Cash	-22.68K	-$146.7K	-$1.070M
YoY Change	-77.98%	-86.29%	-118.39%
FREE CASH FLOW
Cash From Operating Activities	-$799.6K	-$1.401M	-$2.055M
Capital Expenditures	$9.490K	$39.31K	-$491.1K
Free Cash Flow	-$809.0K	-$1.440M	-$1.563M
YoY Change	-56.46%	-7.88%	-38.74%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2023Q2	dei	Document Transition Report DocumentTransitionReport	false
CY2023Q2	dei	Entity File Number EntityFileNumber	000-54030
CY2023Q2	dei	Entity Registrant Name EntityRegistrantName	NATURALSHRIMP INCORPORATED
CY2023Q2	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	NV
CY2023Q2	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	74-3262176
CY2023Q2	dei	Entity Address Address Line1 EntityAddressAddressLine1	5501 LBJ Freeway
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CY2023Q2	dei	Entity Address City Or Town EntityAddressCityOrTown	Dallas
CY2023Q2	dei	Entity Address State Or Province EntityAddressStateOrProvince	TX
CY2023Q2	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	75240
CY2023Q2	dei	City Area Code CityAreaCode	(888)
CY2023Q2	dei	Local Phone Number LocalPhoneNumber	791-9474
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CY2023Q2	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
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CY2023Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-2703256	usd
CY2022Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-2722403	usd
CY2023Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.00
CY2023Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.00
CY2022Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.00
CY2022Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.00
CY2023Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	839745626	shares
CY2023Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	839745626	shares
CY2022Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	665999390	shares
CY2022Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	665999390	shares
CY2023Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-45689165	usd
CY2023Q2	SHMP	Issuance Of Common Shares Under Financing Agreement IssuanceOfCommonSharesUnderFinancingAgreement	1298512	usd
CY2023Q2	us-gaap	Stock Issued During Period Value Conversion Of Convertible Securities StockIssuedDuringPeriodValueConversionOfConvertibleSecurities	477175	usd
CY2023Q2	us-gaap	Dividends Preferred Stock Stock DividendsPreferredStockStock	54000	usd
CY2023Q2	us-gaap	Stock Issued During Period Value Issued For Services StockIssuedDuringPeriodValueIssuedForServices	4700	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	-2298431	usd
CY2023Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-46261209	usd
CY2022Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-33133765	usd
CY2022Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-33133765	usd
CY2022Q2	us-gaap	Stock Issued During Period Value Conversion Of Convertible Securities StockIssuedDuringPeriodValueConversionOfConvertibleSecurities	840000	usd
CY2022Q2	SHMP	Amortization Of Beneficial Conversion Feature Related To Series E Preferred Shares AmortizationOfBeneficialConversionFeatureRelatedToSeriesEPreferredShares	-42500	usd
CY2022Q2	us-gaap	Preferred Stock Accretion Of Redemption Discount PreferredStockAccretionOfRedemptionDiscount	278500	usd
CY2022Q2	us-gaap	Dividends Preferred Stock Stock DividendsPreferredStockStock	102227	usd
CY2022Q2	SHMP	Common Stock Vested To Consultants CommonStockVestedToConsultants	24375	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-2200176	usd
CY2022Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-34892793	usd
CY2022Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-34892793	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	-2298431	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-2200176	usd
CY2023Q2	SHMP	Depreciation Expense DepreciationExpense	434809	usd
CY2022Q2	SHMP	Depreciation Expense DepreciationExpense	525229	usd
CY2023Q2	us-gaap	Cost Of Goods And Services Sold Amortization CostOfGoodsAndServicesSoldAmortization	367500	usd
CY2022Q2	us-gaap	Cost Of Goods And Services Sold Amortization CostOfGoodsAndServicesSoldAmortization	367500	usd
CY2022Q2	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	2040000	usd
CY2022Q2	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	1314000	usd
CY2023Q2	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-50000	usd
CY2022Q2	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-1915000	usd
CY2023Q2	SHMP	Change In Fair Value Of Promissory Notes ChangeInFairValueOfPromissoryNotes	-137634	usd
CY2023Q2	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	120000	usd
CY2023Q2	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	5785	usd
CY2023Q2	us-gaap	Issuance Of Stock And Warrants For Services Or Claims IssuanceOfStockAndWarrantsForServicesOrClaims	4700	usd
CY2022Q2	us-gaap	Issuance Of Stock And Warrants For Services Or Claims IssuanceOfStockAndWarrantsForServicesOrClaims	24375	usd
CY2023Q2	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	20293	usd
CY2023Q2	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	19004	usd
CY2022Q2	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	24132	usd
CY2023Q2	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	20932	usd
CY2022Q2	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	35368	usd
CY2023Q2	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-32462	usd
CY2022Q2	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	481750	usd
CY2023Q2	us-gaap	Increase Decrease In Deferred Policy Acquisition Costs IncreaseDecreaseInDeferredPolicyAcquisitionCosts	55503	usd
CY2023Q2	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	35636	usd
CY2022Q2	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	450606	usd
CY2023Q2	us-gaap	Increase Decrease In Other Accrued Liabilities IncreaseDecreaseInOtherAccruedLiabilities	12032	usd
CY2022Q2	us-gaap	Increase Decrease In Other Accrued Liabilities IncreaseDecreaseInOtherAccruedLiabilities	11140	usd
CY2023Q2	SHMP	Increase Decrease In Accrued Expenses Related Parties IncreaseDecreaseInAccruedExpensesRelatedParties	171690	usd
CY2022Q2	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	488797	usd
CY2023Q2	us-gaap	Increase Decrease In Due To Related Parties IncreaseDecreaseInDueToRelatedParties	6250	usd
CY2022Q2	us-gaap	Increase Decrease In Due To Related Parties IncreaseDecreaseInDueToRelatedParties	8275	usd
CY2023Q2	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-18981	usd
CY2023Q2	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1400898	usd
CY2022Q2	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-2054504	usd
CY2023Q2	us-gaap	Payments For Proceeds From Investments PaymentsForProceedsFromInvestments	39308	usd
CY2022Q2	us-gaap	Payments For Proceeds From Investments PaymentsForProceedsFromInvestments	491112	usd
CY2023Q2	us-gaap	Proceeds From Sale Of Machinery And Equipment ProceedsFromSaleOfMachineryAndEquipment	19000	usd
CY2023Q2	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-20308	usd
CY2022Q2	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-491112	usd
CY2023Q2	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	24000	usd
CY2022Q2	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	24000	usd
CY2023Q2	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	1298512	usd
CY2022Q2	SHMP	Proceeds From Convertible Debentures Receipt ProceedsFromConvertibleDebenturesReceipt	1500000	usd
CY2023Q2	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	1274512	usd
CY2022Q2	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	1476000	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-146694	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-1069616	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	216465	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1734040	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	69771	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	664424	usd
CY2023Q2	us-gaap	Interest Paid Net InterestPaidNet	616	usd
CY2022Q2	us-gaap	Interest Paid Net InterestPaidNet	5300	usd
CY2022Q2	SHMP	Construction In Process Transferred To Fixed Assets ConstructionInProcessTransferredToFixedAssets	1040617	usd
CY2023Q2	SHMP	Shares Issued Upon Conversion Of Preferred Stock SharesIssuedUponConversionOfPreferredStock	828000	usd
CY2022Q2	SHMP	Shares Issued Upon Conversion Of Preferred Stock SharesIssuedUponConversionOfPreferredStock	840000	usd
CY2023Q2	SHMP	Dividends On Series E Preferred Stock DividendsOnSeriesEPreferredStock	404825	usd
CY2023Q2	us-gaap	Dividends Preferred Stock Paidinkind DividendsPreferredStockPaidinkind	516000	usd
CY2023Q2	SHMP	Shares Issuedto Be Issued For Legal Settlement SharesIssuedtoBeIssuedForLegalSettlement	272743	usd
CY2023Q2	us-gaap	Nature Of Operations NatureOfOperations	<p id="xdx_80B_eus-gaap--NatureOfOperations_zARU2Z2WVau7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_82A_zO0IW6lkbIr6">NATURE OF THE ORGANIZATION AND BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Nature of the Business</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NaturalShrimp Incorporated (“NaturalShrimp” or the “Company”), a Nevada corporation, is a biotechnology company and has developed a proprietary technology that allows it to grow Pacific White shrimp (Litopenaeus vannamei, formerly Penaeus vannamei) in an ecologically controlled, high-density, low-cost environment, and in fully contained and independent production facilities. The Company’s system uses technology which allows it to produce a naturally-grown shrimp “crop” weekly and accomplishes this without the use of antibiotics or toxic chemicals. The Company has developed several proprietary technology assets, including a knowledge base that allows it to produce commercial quantities of shrimp in a closed system with a computer monitoring system that automates, monitors and maintains proper levels of oxygen, salinity and temperature for optimal shrimp production. The Company’s production facilities are located in La Coste, Texas and Webster City, Iowa.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has three wholly-owned subsidiaries including NaturalShrimp USA Corporation (“NSC”) and NaturalShrimp Global, Inc. (“NS Global”) and Natural Aquatic Systems, Inc. (“NAS”), and owns 51% of NaturalShrimp/Hydrenesis LLC, a Texas limited liability company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Going Concern</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), assuming the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. For the three months ended June 30, 2023, the Company had a net loss available for common stockholders of approximately $<span id="xdx_90F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_iN_pn3p0_di_c20230401__20230630_z6ZS4IJ9yR0h" title="Net loss from operation">2,703,000</span>. As of June 30, 2023, the Company had an accumulated deficit of approximately $<span id="xdx_908_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn3p0_di_c20230630_zInSnokfRjr5" title="Accumulated deficit">170,237,000</span> and a working capital deficit of approximately $<span id="xdx_908_ecustom--WorkingCapitalDeficit_iNI_di_c20230630_zOyTmPS26GUa" title="Working capital deficit">8,781,000</span>. These factors raise substantial doubt about the Company’s ability to continue as a going concern, within one year from the issuance date of this filing. The Company’s ability to continue as a going concern is dependent on its ability to raise the required additional capital or debt financing to meet short and long-term operating requirements. During the three months ended June 30, 2023, the Company received net cash proceeds of approximately $<span id="xdx_90A_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20230401__20230630_z844f2zCpQJe" title="Sale of stock consideration">1,299,000</span> from the sale of common shares (See Note 8). Subsequent to period end, the Company received $<span id="xdx_904_eus-gaap--ProceedsFromIssuanceOfDebt_c20230401__20230630_zayUsT3bfDua" title="Proceeds from issuance of notes">140,000</span> proceeds from the issuance of promissory notes, related parties (See Note 12).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management believes that private placements of equity capital will be needed to fund the Company’s long-term operating requirements. The Company may also encounter business endeavors that require significant cash commitments or unanticipated problems or expenses that could result in a requirement for additional cash. If the Company raises additional funds through the issuance of equity, the percentage ownership of its current shareholders could be reduced, and such securities might have rights, preferences or privileges senior to its common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, the Company may not be able to take advantage of prospective business endeavors or opportunities, which could significantly and materially restrict its operations. The Company continues to pursue external financing alternatives to improve its working capital position. If the Company is unable to obtain the necessary capital, the Company may be unable to develop its facilities and enter into production.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-2703000	usd
CY2023Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-170237000	usd
CY2023Q2	SHMP	Working Capital Deficit WorkingCapitalDeficit	-8781000	usd
CY2023Q2	us-gaap	Sale Of Stock Consideration Received On Transaction SaleOfStockConsiderationReceivedOnTransaction	1299000	usd
CY2023Q2	us-gaap	Proceeds From Issuance Of Debt ProceedsFromIssuanceOfDebt	140000	usd
CY2023Q2	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_842_eus-gaap--UseOfEstimates_zoxosrBrYFek" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_862_zIfzzvJdOnrj">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2	us-gaap	Class Of Warrant Or Right Outstanding ClassOfWarrantOrRightOutstanding	18573116	shares
CY2022Q2	us-gaap	Class Of Warrant Or Right Outstanding ClassOfWarrantOrRightOutstanding	18506429	shares
CY2023Q1	us-gaap	Warrants And Rights Outstanding WarrantsAndRightsOutstanding	355000	usd
CY2022Q1	us-gaap	Warrants And Rights Outstanding WarrantsAndRightsOutstanding	3923000	usd
CY2023Q2	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-50000	usd
CY2023	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-3568000	usd
CY2023Q2	us-gaap	Warrants And Rights Outstanding WarrantsAndRightsOutstanding	305000	usd
CY2023Q1	us-gaap	Warrants And Rights Outstanding WarrantsAndRightsOutstanding	355000	usd
CY2023Q1	SHMP	Fair Value Measurement With Restructured Notes Payable FairValueMeasurementWithRestructuredNotesPayable	23690000	usd
CY2023Q2	SHMP	Reclass Of Accrued Interest ReclassOfAccruedInterest	907634	usd
CY2023	SHMP	Fair Value Of Promissory Note Upon Restructuring Agreement FairValueOfPromissoryNoteUponRestructuringAgreement	20847867	usd
CY2023Q2	SHMP	Change In Fair Value Of Restructed Notes ChangeInFairValueOfRestructedNotes	-137634	usd
CY2023	SHMP	Change In Fair Value Of Restructed Notes ChangeInFairValueOfRestructedNotes	2842133	usd
CY2023Q2	SHMP	Fair Value Measurement With Restructured Notes Payable FairValueMeasurementWithRestructuredNotesPayable	24460000	usd
CY2023Q1	SHMP	Fair Value Measurement With Restructured Notes Payable FairValueMeasurementWithRestructuredNotesPayable	23690000	usd
CY2022Q4	us-gaap	Debt Instrument Interest Rate Terms DebtInstrumentInterestRateTerms	The fair value for both periods is based on the maturity dates, the interest of 12%, the 15% exit fee, the 2% appreciation fee for an estimated period, and a 40% present value factor.
CY2022Q4	us-gaap	Debt Instrument Interest Rate Stated Percentage DebtInstrumentInterestRateStatedPercentage	0.12	pure
CY2022Q4	SHMP	Debt Instrument Exit Fee Percentage DebtInstrumentExitFeePercentage	0.15	pure
CY2023Q2	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_zT38nDklXYV8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_865_z8VCNIZCMibg">Concentration of Credit Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash balances at two financial institutions. Accounts at this institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $<span id="xdx_90A_eus-gaap--CashFDICInsuredAmount_iI_c20230630_zefSGQjMTNw3">250,000</span>. <span style="background-color: white">As of </span>June 30, 2023 <span style="background-color: white">and March 31, 2023, the Company’s cash balance exceeded FDIC coverage. </span>The Company has not experienced any losses in such accounts and periodically evaluates the credit worthiness of the financial institutions and has determined the credit exposure to be negligible.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2	us-gaap	Cash Fdic Insured Amount CashFDICInsuredAmount	250000	usd
CY2023Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	200000000	shares
CY2023Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	100000	shares
CY2023Q2	us-gaap	Stock Granted During Period Value Sharebased Compensation StockGrantedDuringPeriodValueSharebasedCompensation	4700	usd
CY2023Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	205872	usd
CY2022Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	36336	usd
CY2023Q2	SHMP	Service Fee ServiceFee	25000	usd
CY2023Q2	us-gaap	Share Price SharePrice	0.047
CY2023Q2	us-gaap	Interest Expense Debt InterestExpenseDebt	3500	usd
CY2016Q1	us-gaap	Debt Instrument Interest Rate Stated Percentage DebtInstrumentInterestRateStatedPercentage	0.02	pure
CY2023Q2	us-gaap	Accounts Payable Current And Noncurrent AccountsPayableCurrentAndNoncurrent	146000	usd
CY2023Q1	us-gaap	Accounts Payable Current And Noncurrent AccountsPayableCurrentAndNoncurrent	146000	usd
CY2023Q2	us-gaap	Land Land	324293	usd
CY2023Q1	us-gaap	Land Land	324293	usd
CY2023Q2	us-gaap	Buildings And Improvements Gross BuildingsAndImprovementsGross	5509918	usd
CY2023Q1	us-gaap	Buildings And Improvements Gross BuildingsAndImprovementsGross	5495150	usd
CY2023Q2	us-gaap	Machinery And Equipment Gross MachineryAndEquipmentGross	12297284	usd
CY2023Q1	us-gaap	Machinery And Equipment Gross MachineryAndEquipmentGross	12293112	usd
CY2023Q2	SHMP	Automobiles Gross AutomobilesGross	307227	usd
CY2023Q1	SHMP	Automobiles Gross AutomobilesGross	307227	usd
CY2023Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	18438722	usd
CY2023Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	18419782	usd
CY2023Q2	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	3803723	usd
CY2023Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	3376067	usd
CY2023Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	14634999	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	15043715	usd
CY2023Q2	us-gaap	Depreciation Depreciation	435000	usd
CY2022Q2	us-gaap	Depreciation Depreciation	525000	usd
CY2023Q2	SHMP	Description For Uplisted Term And Trigger Events DescriptionForUplistedTermAndTriggerEvents	In conjunction with the Merger Agreement, entered into on October 24, 2022, with Yotta Acquisition Corporation (Note 11), on November 4, 2022, the Company entered into a Restructuring Agreement for an Amended and Restated Secured Promissory Note (the “August Note”), through which the August Note was amended and restated in its entirety. The Restructured August Note decreased the principal to $1,748,667, less an OID of $138,667, and the amount in escrow was returned to the investor, The Restructuring Agreement included key modifications, in which i) the Uplist terms were removed, ii) in the event that the closing of the Merger does not occur on or before December 31, 2022, the then-current Outstanding Balance will be increased by 2% and shall increase by 2% every 30 days thereafter until the closing or termination of the Merger Agreement, and iii) the outstanding balance of the Convertible Note may be increased by 5% to 15% upon the occurrence of an event of default or failure to obtain the Lender’s consent or notify the Lender for certain major equity related transactions (“Trigger Events”)
CY2023Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	200000000	shares
CY2023Q2	us-gaap	Debt Instrument Interest Rate During Period DebtInstrumentInterestRateDuringPeriod	0.08	pure
CY2023Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	54647	usd
CY2023Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	54647	usd
CY2021Q3	us-gaap	Operating Lease Payments OperatingLeasePayments	7000	usd
CY2021Q3	us-gaap	Lease Expiration Date1 LeaseExpirationDate1	2025-10-31
CY2023	us-gaap	Operating Lease Payments OperatingLeasePayments	1727	usd
CY2023	us-gaap	Lease Expiration Date1 LeaseExpirationDate1	2025-10-31
CY2021Q2	us-gaap	Deposits Deposits	52362	usd
CY2021Q2	us-gaap	Security Deposit SecurityDeposit	17454	usd
CY2021Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	316000	usd
CY2021Q3	SHMP	Operating Leases Borrowing Rate OperatingLeasesBorrowingRate	0.0575	pure
CY2021Q3	us-gaap	Operating Lease Payments OperatingLeasePayments	300	usd
CY2021Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	17000	usd
CY2021Q3	SHMP	Operating Leases Borrowing Rate OperatingLeasesBorrowingRate	0.0575	pure
CY2023Q2	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	65856	usd
CY2023Q2	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	87808	usd
CY2023Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	54709	usd
CY2023Q2	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	208373	usd
CY2023Q2	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	14361	usd
CY2023Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	194012	usd

Files In Submission

Name	View Source	Status
FilingSummary.xml	Edgar Link	unprocessable
0001493152-23-029450-index-headers.html	Edgar Link	pending
0001493152-23-029450-index.html	Edgar Link	pending
0001493152-23-029450.txt	Edgar Link	pending
0001493152-23-029450-xbrl.zip	Edgar Link	pending
ex31-1.htm	Edgar Link	pending
ex31-2.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
ex32-2.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
form10-q.htm	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
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R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
form10-q_htm.xml	Edgar Link	completed
shmp-20230630.xsd	Edgar Link	pending
Show.js	Edgar Link	pending
shmp-20230630_cal.xml	Edgar Link	unprocessable
shmp-20230630_def.xml	Edgar Link	unprocessable
shmp-20230630_lab.xml	Edgar Link	unprocessable
shmp-20230630_pre.xml	Edgar Link	unprocessable

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$SHMP
NaturalShrimp Inc Stock $shmp

2023 Q3 Form 10-Q Financial Statement

#000149315223029450 Filed on August 18, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SHMP NaturalShrimp Inc Stock $shmp

2023 Q3 Form 10-Q Financial Statement

#000149315223029450 Filed on August 18, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SHMP
NaturalShrimp Inc Stock $shmp