MFranny
1 week ago
As I've stated many times, I've always taken NSI Management at its word. First, legally they are required not to lie (yes, I know that's not how life works though). Second, there's never been any real factual information to fully discredit NSI Management's statements or "catch them in a lie." For instance, everytime the sale numbers were bad didn't necessarily equal a problem with the patented EC system. Once NSI was supposed to be putting shrimp in tanks, there was always some external market force or non-related event that created ambiguity, uncertainty and masked the efficiency (or lack thereof) of the patented EC system. For instance, the first fire, the PL virus, Covid, etc. Consequently, I can't really answer this question. I suspect that it's probably a combination of "it works," but it has "kinks that still need to be ironed out." However, even in that event, it wouldn't justify the pie in the sky representations made by NSI or the aggressive expansion that it undertook via equity financing. I will say this, Fife clearly feels that there's value in NSI's assets above and beyond $35 million, otherwise he would have insisted on Ampleo selling them off, rather than buying them himself. I'll ask again, what's he going to do with the Patents?
JoshTaeger
2 weeks ago
From what I read in Ampleo's filing with the court (admittedly...stale info at this point), Ampleo was having difficulty finding someone to even attempt to value the patents. Personally, I think the patents are nearly worthless and should have been written down by SHMP long ago. We'll...one way or another...they're getting written down by Ampleo.
Why Fife lent SHMP $35M is beyond me. I hope they made some back along the way selling shares. Maybe the Iowa properties have some value we're not recognizing? LaCosteUnknown certainly doesn't.
Bottom line...SHMP is not an outlier. Two othe publicly-traded shrimp firms are also DOA at this point.
Looking back, the smartest man in the room was Pete. Too bad he wasn't around longer to enjoy his profits. I hope his family is.
Of course, no substitute for a brother, father, husband....
JoshTaeger
2 weeks ago
BWAHAHAHA!!!
Not as explosive as the 8-K SHMP filed last week: https://www.sec.gov/Archives/edgar/data/1465470/000149315225007034/form8-k.htm
BWAHAHAHA!!!!
From the filing: Due to Lenders’ large, secured and administrative expense claims and their credit bid of the same, the Receiver does not anticipate that there will be any sale proceeds available for distribution to creditors, investors, shareholders, or equity holders.
You can stop lying about SHMP now. SHMP's demise should give you time to seek help.