Item 3.02 Unregistered Sales of Equity Securities.

As previously reported, on February 23, 2022, the Secretary of State of the State of Nevada delivered confirmation of the effective filing by NaturalShrimp Incorporated (the "Company") of the Company's Certificate of Designation of Series F Convertible Preferred Stock (the "Series F Designation"). The Series F Designation authorized the issuance of up to 750,000 shares of the Company's Series F Convertible Preferred Stock ("Series F Preferred Stock"), having such designations, rights and preferences as set forth therein.

On March 1, 2022, the board of directors of the Company issued 250,00 shares of Series F Preferred Stock to each of Gerald Easterling, William Delgado and Thomas Untermeyer in consideration for their past and future services as executive officers of the Company.

The shares of Series F Preferred Stock were not registered under the Securities Act of 1933, as amended (the "Securities Act"), but qualified for exemption under Section 4(a)(2) of the Securities Act. The issuance was exempt from registration under Section 4(a)(2) of the Securities Act because the issuance of such securities by the Company did not involve a "public offering," as defined in Section 4(a)(2) of the Securities Act, due to the insubstantial number of persons involved in the transaction, size of the offering, manner of the offering, amount of securities offered, and the sophistication of the Series F Preferred Stock holders.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The information set forth in Item 3.02 of this Current Report on Form 8-K is incorporated by reference into this Item 5.02.






2

© Edgar Online, source Glimpses