NaturalShrimp Incorporated (OTCQB: SHMP) engages in global shrimp farming and technology that specializes in shrimp production, in an indoor, saltwater facility. The shrimp farming company is rallying 27% during afternoon trading on Thursday, September 1, 2016. Over the past month, NaturalShrimp Incorporated has seen average daily volume of 12,610 shares. However, nearly 115,420 shares or dollar volume of $86,565 has already exchanged hands during Thursday’s trading session. With this morning gains taken into consideration, NaturalShrimp Incorporated has seen shares rally 114% over the past five trading sessions.
Shares of NaturalShrimp Incorporated have been on a bull run lately after the company released earnings on August 22, 2016 and the rising issue of shrimp imports not being accepted, due to antibiotic concerns.
In an article from the seafoodsource.com, the global seafood media website detailed of the growing issue that Asia-based shrimp farms are facing, with regards to antibiotic use. In fact, the U.S. FDA is refusing shrimp imports on a massive scale. Through July 18, 2016, the FDA refused 79 shrimp shipments of total 197 shipments. “Even if no further refusals are made by the agency for the remainder of this year, the total amount of entry lines refused already exceeds the annual total of nine of the last fifteen years,” says the Southern Shrimp Alliance, a coalition of shrimp producers and importers across eight U.S. states. This helps NaturalShrimp Incorporated because is a U.S.-based company that focuses on natural shrimp farming.
During the second quarter of 2016, NaturalShrimp Incorporated reported results of:
Total Assets: $1.56 million
Total Liabilities: $5.32 million
Net Loss: ($270,445)
About NaturalShrimp Incorporated
The Company was founded by Gerald Easterling, Bill G. Williams and Tom Untermeyer in 2001. Mr. Williams serves as Chairman and Chief Executive Officer, Mr. Easterling serves as President and Mr. Untermeyer serves as a Consultant to the Company. Mr. Easterling also serves as Director of the Company and, in such capacity, along with the other board members and officers of the Company controls the operations, business, and affairs of the Company.