NaturalShrimp Incorporated

What they do

NaturalShrimp was incorporated in Nevada in 2008 and became a shrimp farming company in 2015 after acquiring the assets of NaturalShrimp Holdings, Inc. It focused on growing Pacific White shrimp (Litopenaeus vannamei) in ecologically controlled, high-density, contained production facilities. Following a receivership, the company's fixed assets, patents and license agreements were transferred to its lenders on May 14, 2025, and it ceased operations. It is now pursuing a transition toward commercialization of aquaculture and water treatment technologies under an agreement with Hydrenesis.

Revenue drivers

• Shrimp farming (former operations) — Historically the company's only operating revenue source; annual revenue was $202,817 in 2025, $446,301 in 2024, and $238,685 in 2023, with the business ceasing operations after the May 2025 asset transfer.
• Licensed aquaculture and water treatment technology (prospective) — Under the March 2026 agreement, Hydrenesis is to grant a perpetual license to certain intellectual property, technology rights, know-how and commercialization rights, which the company intends to commercialize; no revenue from this has been reported.

Recent performance

Annual revenue fell to $202,817 in 2025 from $446,301 in 2024, after rising from $238,685 in 2023. Quarterly revenue declined from $70,373 in the quarter ended September 30, 2024 to $36,618 in the quarter ended June 30, 2025. Net loss was $10.7 million in 2025, an improvement from $15.6 million in 2024, and operating cash flow was negative $3.9 million in both years. As of March 30, 2025, total assets were $24.3 million, total liabilities were $45.0 million, and shareholder equity was negative $67.1 million; cash and equivalents were $43,330 as of September 30, 2025.

Strategy

The company's assets were sold through a receivership process approved on March 30, 2025, with title transferred to the lenders on May 14, 2025, extinguishing outstanding debt to Streeterville Capital and Buckstown Capital. In March 2026, NaturalShrimp entered an Intellectual Property and Management Transition Agreement with Hydrenesis, Inc. and David Antelo, under which governance and control transferred and the company agreed to transition toward commercialization of aquaculture and water treatment technologies. Hydrenesis is to provide a perpetual license to certain intellectual property, and the company's approximately $1,034,112 obligation to Hydrenesis is to be converted into equity. Certificates of Designation for Series P, Series P-2, and Series L Preferred Stock were approved and executed, with legacy Series A and Series F Preferred Stock to be restructured, amended, cancelled or exchanged into Series L Preferred Stock. The perpetual license grant and related preferred share consideration were not consummated until June 25, 2026.

Risks

• Receivership and asset sale — Lenders filed an emergency motion after alleged loan defaults, a receiver was appointed in 2024, and substantially all assets were sold to the lenders in May 2025, leaving the company without its former operating business.
• No current operations — The company ceased business operations as of the May 2025 ownership transfer, and its only stated path forward depends on consummating and commercializing licensed Hydrenesis technology.
• Negative equity and limited liquidity — Shareholder equity was negative $67.1 million at March 30, 2025, and cash and equivalents were $43,330 at September 30, 2025, with remaining liabilities to finance and legal service providers and loans plus accrued interest.
• Agreement not fully consummated — The Hydrenesis agreement was not yet consummated as of the latest 10-Q, and the perpetual license and preferred share consideration were not completed until June 25, 2026.

Outlook

Management states the company is working on a plan with existing creditors to settle remaining outstanding balances, primarily payables to finance and legal service providers and loans plus accrued interest. The company intends to transition toward commercialization of aquaculture and water treatment technologies under the Hydrenesis agreement. The perpetual license grant and related preferred share consideration were consummated on June 25, 2026, with further details referenced in a Form 8-K/A.