SHMP Naturalshrimp Inc - 8-K

Item
1.03. Bankruptcy or Receivership.

On
September 4, 2024, Streeterville Capital, LLC, a Utah limited liability company and Bucktown Capital, LLC, a Utah limited liability company
(collectively, “Streeterville”) filed a Verified Emergency Motion for Appointment of Receiver (the “Motion”)
under Civil Case No. 240907138, in the District Court of Salt Lake County, Utah, against NaturalShrimp, Inc., a Nevada corporation (“NaturalShrimp”).

The
Motion alleges, among other things, that NaturalShrimp has defaulted under the terms of its loan agreements with Streeterville. The Motion
sought the appointment of a Receiver to immediately take control of NaturalShrimp’s assets to preserve same.

An
Order was entered ex parte by the Court on September 9, 2024 granting the relief requested by Streeterville. The Court duly appointed
Amplio Turnaround and Restructuring, LLC as the Receiver. The Court’s Order further scheduled a hearing to be held on September
17, 2024, on a preliminary injunction to address issues raised in the Motion. NaturalShrimp has secured counsel to represent it in the
litigation.