Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss attributable to Natural Shrimp Inc. $ (1,065,265) $ (1,651,981)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 19,677 25,563
Amortization of debt discount 0 476,373
Change in fair value of derivative liability 29,000 39,000
Default penalty 41,112 27,000
Net loss attributable to non-controlling interest (3,581) 0
Shares issued for services 128,750 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (25,424) (72,826)
Deposits 0 (10,133)
Accounts payable 168,448 63,571
Other accrued expenses (174,926) 37,268
Accrued interest 13,000 0
Accrued interest - related parties 18,096 82,862
Cash used in operating activities (851,113) (983,303)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid for machinery and equipment (742,388) (267,283)
Cash received from insurance settlement 917,210 0
Cash paid for construction in process (1,738,661) (487,218)
Cash used in investing activities (1,563,839) (754,501)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments on bank loan (15,794) (3,946)
Payment of related party notes payable (24,000) 0
Repayment line of credit short-term 7,656 (104,008)
Proceeds from Payroll Protection Prgram loan 103,200 0
Proceeds from issuance of common shares under equity agreement 0 1,774,001
Proceeds from sale of Series B Convertible Preferred stock 2,500,000 250,000
Proceeds from convertible debentures 0 100,000
Payments on convertible debentures 0 (85,500)
Payments on convertible debenture, related party 0 (47,000)
Cash received in relation to Vista warrant settlement 50,000 0
Cash provided by financing activities 2,621,062 1,883,547
Net change in cash 206,110 145,743
Cash at beginning of period 109,491 137,499
Cash at end of period 315,601 283,242
Interest paid 41,420 36,669
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Shares issued upon conversion 336,437 170,000
Dividends in kind issued 134,443 275,400
Shares issued on Vista Warrant settlement 610,000 0
Note payable, related party, issued in place of Settlement Agreement $ 383,604 $ 0