Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2020
Mar. 31, 2019
Current assets    
Cash $ 109,491 $ 137,499
Notes receivable 0 1,700
Inventory 0 4,200
Prepaid expenses 128,693 35,286
Insurance settlement 917,210 0
Total current assets 1,155,394 178,685
Fixed assets, net 707,808 1,178,589
Other assets    
Construction-in-process 0 377,504
Right of use asset 275,400 0
Deposits 178,198 10,500
Total other assets 453,598 388,004
Total assets 2,316,800 1,745,278
Current liabilities    
Accounts payable 641,147 576,029
Accrued interest 81,034 96,735
Accrued interest - related parties 296,624 295,184
Other accrued expenses 1,204,815 512,508
Short-term promissory note and lines of credit 570,497 119,225
Bank loan 8,904 228,725
Notes payable - related parties 1,221,162 1,271,162
Derivative liability 176,000 157,000
Warrant liability 90,000 93,000
Total current liabilities 4,753,343 3,931,618
Bank loan, less current maturities 225,837 20,193
Line of credit 0 650,453
Lease liability 275,400 0
Total liabilities 5,254,580 4,602,264
Commitments and contingencies (Note 12)
Stockholders' deficit    
Common stock, $0.0001 par value, 900,000,000 shares authorized, 379,742,524 and 301,758,293 shares issued and outstanding at March 31, 2020 and March 31, 2019, respectively 37,975 30,177
Additional paid in capital 43,533,242 38,335,782
Accumulated deficit (46,427,396) (41,223,445)
Total stockholders' deficit attributable to NaturalShrimp, Inc. shareholders (2,855,679) (2,856,986)
Non-controlling interest in National Acquatic Systems, Inc. (82,101) 0
Total stockholders' deficit (2,937,780) (2,856,986)
Total liabilities and stockholders' deficit 2,316,800 1,745,278
Series A Convertible Preferred Stock    
Stockholders' deficit    
Convertible preferred stock 500 500
Series B Convertible Preferred Stock    
Stockholders' deficit    
Convertible preferred stock $ 0 $ 0