Company Reiterates it Expects to be the Second Largest Land-Based Producer of Shrimp in the United States in 2023
DALLAS, TX / October 12, 2022 // Gold River Productions Services, Inc. (OTC Pink:GRPS) (“GRPS”) (http://www.transamaqua.com ) (D/B/A Trans American Aquaculture) announced today further clarification of its previously announced revenue guidance for calendar years 2023 and 2024.
Trans American Aquaculture, which recently went public through a reverse merger transaction with Gold River Productions Services, Inc. is now seeing trends due to an increasing demand for its broodstock and PL’s from major aquaculture players including companies in Africa, Central America, Asia, and companies throughout North America. There are 4 main reasons for these trends and the positive outlook for Trans American’s business prospects moving forward.
- The need for specific genetic lines in the aquaculture industry due to the amount of farm based and indoor recirculating aquaculture systems (RAS) that are being developed throughout the world.
- The desire for broodstock and PL’s that are developed in the United States due to the strict guidelines of the USDA (United States Department of Agriculture) and the quality of local ingredients used in cultivation.
- A virus outbreak of infectious hypodermal and hematopoietic necrosis virus (IHHNV) in 2019 which essentially shut down North America’s major supplier of post larvae (PL) shrimp which opened significant opportunities for companies such as Trans American Aquaculture to gain significant market share.
- Our superior genetics which produce superior broodstock and superior PL’s which have industry leading growth rates, disease resistance, low mortality, and other desirable characteristics such as cold-water tolerance.
On September 26, 2022, and in the questions and answer session as part of the company’s conference call, the company provided revenue guidance of approximately $7 million for 2023 and $14 million for 2024. This guidance was confirmed when the company published the complete transcript of the call on September 29, 2022.
As a result of the anticipation that PL and broodstock sales can accelerate, the company believes, albeit with cautious guidance, that it can potentially significantly exceed the guidance of approximately $7 million for 2023 and approximately $14 million for 2024.
For example, the company is working on one single broodstock order for 5,000 broodstock pairs (5,000 males and 5,000 females). This single order from one player in a large country can amount to $650,000.00 or more in sales, with the expectation that many first-time sales will be reoccurring. Previous guidance was based solely on the cultivation and sale of shrimp for human consumption, while broodstock and PL sales will continue to be an ever-increasing portion of Trans American’s projected revenue, due to the genetically superior lines. The recent order from Kentucky State University confirms what academia and commercial growers think about our products and our genetics.
Adam Thomas, Chairman and Chief Executive Officer of Trans American Aquaculture commented, “It is important that the conservative nature of our company kicks in. We feel very comfortable about our previous guidance. Although it is difficult to estimate broodstock and PL sales because they are coming in from many countries and multiple continents, we are confident that we can exceed previous guidance based on the trends we are seeing from the marketplace. There is a strong demand for our shrimp and our genetics.”
About Trans American Aquaculture
Trans American Aquaculture produces premium quality, farm-raised white shrimp, 100% free of antibiotics and hormones, and cultivated using safe and sustainable practices.
Using decades of experience in the shrimp aquaculture industry, our products are grown with our superior technology and our proprietary genetics which results in a superior fresh product always grown in the United States. For more information, please visit http://www.transamaqua.co
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