Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOW

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CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss attributable to NaturalShrimp Inc. $ (3,580,454) $ (4,728,951)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation expense 346,437 100,359
Amortization of debt discount 47,273 577,228
Change in fair value of derivative liability 29,000 27,000
Change in fair value of warrant liability 0 (3,000)
Loss on warrant settlement 0 635,000
Default penalty 41,112 27,000
Net loss attributable to non-controlling interest (5,729) (82,101)
Loss on disposal of fixed assets 0 71,138
Loss due to fire 0 992,286
Shares issued for services 745,250 0
Changes in operating assets and liabilities:    
Accounts receivable 0 0
Inventory 0 4,200
Prepaid expenses and other current assets (526,646) (93,407)
Deposits 0 (167,698)
Accounts payable 325,263 66,818
Other accrued expenses 117,957 57,307
Accrued interest 39,063 32,537
Accrued interest - related parties 44,096 1,440
Cash used in operating activities (2,377,378) (2,482,846)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid for machinery and equipment (1,739,186) (1,232,704)
Cash paid for asset acquisition with VeroBlue Farms, Inc. (5,000,000) 0
Cash received from insurance settlement 917,210 0
Cash paid for construction in process (1,715,654) 0
Cash used in investing activities (7,537,630) (1,232,704)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments on bank loan (19,889) (14,177)
Payments on notes payable - related party (72,000) 0
Repayment line of credit short-term 0 (199,181)
Proceeds from PPP loan 103,200 0
Proceeds from issuance of common shares under equity agreement 0 1,774,000
Proceeds from sale of Series B convertible preferred stock 3,250,000 2,250,000
Proceeds from convertible debentures 600,000 100,000
Payments on notes payable, related party 0 (50,000)
Payments on convertible debentures 0 (85,500)
Proceeds from sale of Series D PS 6,050,000 0
Proceeds from convertible debentures, related party 0 (87,600)
Cash received in relation to Vista warrant settlement 50,000 0
Cash provided by financing activities 9,961,311 3,687,542
Net change in cash 46,303 (28,008)
Cash at beginning of year 109,491 137,499
Cash at end of year 155,795 109,491
Interest paid   176,985
Supplemental disclosure of non-cash investing and financing activities:    
Shares issued upon conversion 551,021 639,708
Right of use asset and lease liability 0 275,400
Dividends in kind issued 134,442 0
Shares issued on Vista Warrant settlement 610,000 0
Note payable, related party, issued in place of Settlement Agreement 383,604 0
Notes payable, issued as consideration in VeroBlue Farms, Inc. asset acquisition 5,000,000 0
Shares payable, to be issued as finders fee in VeroBlue Farms, Inc. asset acquisition $ 136,000 $ 0