{"url_path":"/sec/cik-0001465470/10-k/2026/item-1","section_key":"item-1","section_title":"Item 1 BUSINESS**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-07-22","source_url":"https://www.sec.gov/Archives/edgar/data/1465470/0001493152-26-034187-index.html","accession_number":"0001493152-26-034187","cik":"0001465470","ticker":null,"issuer_name":"NaturalShrimp Inc","edgar_url":"https://www.sec.gov/Archives/edgar/data/1465470/0001493152-26-034187-index.html","primary_entity_key":"0001465470","primary_entity_name":"NaturalShrimp Inc"},"word_count":728,"has_tables":true,"body_markdown":"**ITEM\n1. BUSINESS**\n\n \n\n*Corporate\nHistory*\n\n \n\nThe\nCompany was incorporated in the State of Nevada on July 3, 2008 under the name “Multiplayer Online Dragon, Inc.” On January\n30, 2015, we acquired substantially all of the assets of NaturalShrimp Holdings, Inc. (“NSH”), which had developed proprietary\ntechnology to grow and sell shrimp. As a result of the transaction, we changed our principal business to a global shrimp farming company\nand changed our name to “NaturalShrimp Incorporated” in 2015.\n\n \n\n*Receivership*\n\n* *\n\nOn\nSeptember 4, 2024, Streeterville Capital, LLC, a Utah limited liability company, and Buckstown Capital, LLC, a Utah limited liability\ncompany (collectively, “Lenders”), filed a *Verified Emergency Motion for Appointment of Receiver* (the “Motion”)\nunder Civil Case No. 240907138, in the District Court of Salt Lake County, Utah, against NaturalShrimp, Inc. (“NaturalShrimp”).\n\n \n\nThe\nMotion alleged, among other things, that NaturalShrimp had defaulted under the terms of its loan agreements with the Lenders. The Motion\nsought the appointment of a Receiver to immediately take control of NaturalShrimp’s assets to preserve the same.\n\n \n\nAn\norder was entered ex parte by the Utah State Court in the Receivership Case on September 9, 2024 granting the relief requested by Lenders.\nThe Utah State Court duly appointed Amplēo Turnaround and Restructuring, LLC (the “Receiver”) as the receiver over\nNaturalShrimp’s assets. The Utah State Court’s order further scheduled a hearing to be held on September 17, 2024, on a preliminary\ninjunction to address issues raised in the Motion.\n\n \n\nOn\nNovember 20, 2024, the Lenders and NaturalShrimp filed a *Verified Amended and Stipulated Emergency Motion for Immediate Appointment\nof a Receiver* in the Receivership Case.\n\n \n\nOn\nNovember 22, 2024, the Utah State Court entered an order granting the Stipulated Motion and appointed Receiver as the receiver over the\nassets of NaturalShrimp. Under the Amended Receivership Order, the Receiver is the receiver over the Receivership Entities’ assets.\n\n \n\nOn\nFebruary 11, 2025, the Receiver filed a *Motion for Approval to Sell Substantially all of the Receivership Entities’ Assets to\nStreeterville Captial, LLC and Bucktown Captial, LLC (or Their Designees) or Any Other Party With a Higher and Better Offer Free and\nClear of All Liens, Interests, Claims, and Encumbrances*(the “Sale Motion”) in the Receivership Case. The Sale Motion\nsought the Utah State Court’s approval for the Receiver to sell substantially all of the Receivership Entities’ assets free\nand clear of all liens, interests, claims, and encumbrances to Streeterville and Bucktown Capital for a roughly $35,703,789.87 credit\nbid (based on a secured and administrative claim basis) and $100,000 cash, pursuant to the terms and conditions set forth in that certain\nAsset Purchase Agreement (“APA”) between Trustee and Purchasers. The order to sell the assets was approved on March 30, 2025\nand the title to the assets was transferred to the lenders on May 14, 2025. As part of the sale, the Company transferred its ownership\nrights to its fixed assets, patents and license agreements in exchange for the extinguishment of its outstanding debt to both Streeterville\nand Buckstown Capital. As of the date of the ownership transfer, the Company ceased its business operations.\n\n \n\n*Perpetual\nLicense Agreement*\n\n \n\nDuring\nMarch of 2026, NaturalShrimp Incorporated entered into an Intellectual Property and Management Transition Agreement (the “Agreement”)\nwith Hydrenesis, Inc., a Florida corporation (“Hydrenesis”), and David Antelo. Pursuant to the agreement:\n\n \n\n●The\nCompany agreed to transition its operations toward the commercialization of aquaculture and\nwater treatment technologies; and\n\n \n\n●Governance\nand control of the Company transferred in accordance with the Agreement.\n\n \n\n●Hydrenesis\nwill grant the Company a perpetual license to certain intellectual property, technology rights,\nknow-how, and related commercialization rights, subject to the terms and conditions of the\nagreement\n\n \n\n●The\nCompany’s outstanding obligation to Hydrenesis in the amount of approximately $1,034,112\nwill be converted into equity;\n\n \n\n●The\nCompany approved and executed Certificates of Designation for Series P, Series P-2, and Series\nL Preferred Stock, which are expected to be filed with the Nevada Secretary of State and\n\n \n\n●Existing\nliabilities, obligations, and legacy securities, including Series A Preferred Stock and Series\nF Preferred Stock, will be restructured, amended, cancelled, or exchanged into Series L Preferred\nStock;\n\n \n\nWhile\ngovernance and control of the Company transferred as of the date of the initial agreement, the grant of the perpetual license rights\nand the related preferred share consideration was not consummated until June 25, 2026. Refer to our Form 8-K/A filed on July XX,\n2026 for additional information.\n\n \n\n4"}