NaturalShrimp Incorporated Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

3. LINES OF CREDIT

3. LINES OF CREDIT	3 Months Ended
Jun. 30, 2015
Debt Disclosure [Abstract]
3. LINES OF CREDIT	The Company has a working capital line of credit with Community National Bank. On August 28, 2013, the Company renewed the line of credit for $30,000. The line of credit bears an interest rate of 7.3% and is payable quarterly. The line of credit matured on February 28, 2014 and was renewed by the Company with a maturity date of June 10, 2017. It is secured by various assets of the Companys subsidiaries, and is also guaranteed by two directors of the Company. The balance of the line of credit at June 30, 2015 and March 31, 2015 was $27,009 and $27,009, respectively. The Company also has a working capital line of credit with Extraco Bank. On March 12, 2015, the Company renewed the line of credit for $475,000. The line of credit bears an interest rate of 4.0% that is compounded monthly on unpaid balances and is payable monthly. The line of credit matures on March 12, 2016, and is secured by certificates of deposit and letters of credit owned by directors and shareholders of the Company. The balance of the line of credit is $473,029 and $473,029 at June 30, 2015 and March 31, 2015, respectively. The Company has additional lines of credit with Extraco Bank for $100,000 and $200,000, which were renewed on January 19, 2015 and March 30, 2015, with maturity dates of January 19, 2016 and April 30, 2016, respectively. The lines of credit bear an interest rate of 4.5% that is compounded monthly on unpaid balances and is payable monthly. They are secured by certificates of deposit and letters of credit owned by directors and shareholders of the Company. The balance of the lines of credit was $278,470 and $278,470 at June 30, 2015 and March 31, 2015, respectively. The Company also has a working capital line of credit with Capital One Bank for $50,000. The line of credit bears an interest rate of prime plus 3.89 basis points, which totaled 7.14% as of June 30, 2015 and March 31, 2015. The line of credit matures on December 12, 2015 and is unsecured. The balance of the line of credit was $9,580 and $9,890 at June 30, 2015 and March 31, 2015, respectively. The Company also has a working capital line of credit with Chase Bank for $25,000. The line of credit bears an interest rate of prime plus 3.55 basis points, which totaled 6.80% as of June 30, 2015 and March 31, 2015. The line of credit matures on October 30, 2015 and is secured by assets of the Companys subsidiaries. The balance of the line of credit was $13,289 and $13,687 at June 30, 2015 and March 31, 2015, respectively.

3. LINES OF CREDIT

3 Months Ended

Jun. 30, 2015

The Company has a working capital line of credit with Community National Bank. On August 28, 2013, the Company renewed the line of credit for $30,000. The line of credit bears an interest rate of 7.3% and is payable quarterly. The line of credit matured on February 28, 2014 and was renewed by the Company with a maturity date of June 10, 2017. It is secured by various assets of the Companys subsidiaries, and is also guaranteed by two directors of the Company. The balance of the line of credit at June 30, 2015 and March 31, 2015 was $27,009 and $27,009, respectively.

The Company also has a working capital line of credit with Extraco Bank. On March 12, 2015, the Company renewed the line of credit for $475,000. The line of credit bears an interest rate of 4.0% that is compounded monthly on unpaid balances and is payable monthly. The line of credit matures on March 12, 2016, and is secured by certificates of deposit and letters of credit owned by directors and shareholders of the Company. The balance of the line of credit is $473,029 and $473,029 at June 30, 2015 and March 31, 2015, respectively.

The Company has additional lines of credit with Extraco Bank for $100,000 and $200,000, which were renewed on January 19, 2015 and March 30, 2015, with maturity dates of January 19, 2016 and April 30, 2016, respectively. The lines of credit bear an interest rate of 4.5% that is compounded monthly on unpaid balances and is payable monthly. They are secured by certificates of deposit and letters of credit owned by directors and shareholders of the Company. The balance of the lines of credit was $278,470 and $278,470 at June 30, 2015 and March 31, 2015, respectively.

The Company also has a working capital line of credit with Capital One Bank for $50,000. The line of credit bears an interest rate of prime plus 3.89 basis points, which totaled 7.14% as of June 30, 2015 and March 31, 2015. The line of credit matures on December 12, 2015 and is unsecured. The balance of the line of credit was $9,580 and $9,890 at June 30, 2015 and March 31, 2015, respectively.

The Company also has a working capital line of credit with Chase Bank for $25,000. The line of credit bears an interest rate of prime plus 3.55 basis points, which totaled 6.80% as of June 30, 2015 and March 31, 2015. The line of credit matures on October 30, 2015 and is secured by assets of the Companys subsidiaries. The balance of the line of credit was $13,289 and $13,687 at June 30, 2015 and March 31, 2015, respectively.