NOTE
4 – SUBSEQUENT EVENTS
In
accordance with ASC 855, Subsequent Events, the Company evaluated all events or transactions that occurred after the balance sheet
date but before the financial statements were issued. To that extent, the Company noted the following:
During
March of 2026, NaturalShrimp Incorporated entered into an Intellectual Property Acquisition and Management Transition Agreement (the
“Agreement”) with Hydrenesis, Inc., a Florida corporation (“Hydrenesis”), and David Antelo. Pursuant to the agreement:
| ● | The
Company will transition its operations toward the commercialization of aquaculture and water
treatment technologies; and |
| | | |
| ● | Governance
and control of the Company has been transferred in accordance with the Agreement. |
| | | |
| ● | Hydrenesis
will transfer certain intellectual property and related technology assets to the Company
(the “Transferred IP”); |
| | | |
| ● | The
Company’s outstanding obligation to Hydrenesis in the amount of approximately $1,034,112
will be converted into equity at Closing; |
| | | |
| ● | The
Company has approved and executed Certificates of Designation for Series P, Series P-2, and
Series L Preferred Stock, which are expected to be filed with the Nevada Secretary of State; |
| | | |
| ● | Existing
liabilities, obligations, and legacy securities, including Series A Preferred Stock and Series
F Preferred Stock, will be restructured, amended, cancelled, or exchanged into Series L Preferred
Stock; |
The
agreement with Hydrenesis was not yet consummated as of the date of this filing.
|