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 ($)
9 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss attributable to Natural Shrimp Inc. $ (1,674,029) $ (2,141,464)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 37,850 41,521
Amortization of debt discount 0 515,204
Change in fair value of derivative liability 29,000 (19,000)
Default penalty 41,112 27,000
Net loss attributable to non-controlling interest (4,655) (51,363)
Shares issued for services 745,250 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (649,326) (91,643)
Deposits 0 (10,133)
Accounts payable 255,231 56,002
Other accrued expenses 143,793 180,728
Accrued interest 29,959 0
Accrued interest - related parties 32,096 (10,560)
Cash used in operating activities (1,013,719) (1,503,708)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid for machinery and equipment (1,481,558) (611,790)
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 (1,562,380) (541,735)
Cash used in investing activities (7,126,728) (1,153,525)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments on bank loan (17,810) (5,989)
Payment of related party notes payable (48,000) 0
Repayment line of credit short-term 5,413 (110,788)
Proceeds from PPP 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 3,250,000 1,500,000
Proceeds from convertible debentures 0 100,000
Proceeds from sale of Series D PS 5,000,000 (85,500)
Payments on convertible debenture, related party 0 (69,000)
Cash received in relation to Vista warrant settlement 50,000 0
Cash provided by financing activities 8,342,803 3,102,724
Net change in cash 202,357 445,491
Cash at beginning of period 109,491 137,499
Cash at end of period 311,848 582,990
Interest paid 69,961 170,911
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Shares issued upon conversion 1,131,824 383,448
Right of Use asset and Lease liability 0 275,400
Dividends in kind issued 134,446 0
Shares issued on Vista Warrant settlement 610,000 0
Note payable, related party, issued in place of Settlement Agreement 383,604 0
Note 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 $ 135,775 $ 0