December 6, 2016
Dear Aqua Farming Tech Participant,
As the holiday season approaches, we wanted to update our shareholders on Aqua Farming Tech, Inc.
If you are a frequent visitor to our corporate website’s “news” section, you already know that we have just announced our approval to have our farm certified organic by both the U.S. Department of Agriculture’s National Organic Program and the California Department of Food and Agriculture. This process took many months and represents an important milestone in our plan to market our farm’s tilapia at a premium price to high end food stores like Whole Foods; such progress is significant and as the people become aware and excited regarding the Company’s continued progress, we expect that it would have a positive effect on our stock price upwards.
Aqua Farming Tech is scheduled to make several important improvements to its facilities, which we expect to boost production and position the Company to sell tilapia at an improved price. The pending improvements will increase the saturation of oxygen in the water in which the fish grow, improve the nutrient content of the fish feed manufactured on the farm, and increase the pond capacity devoted to tilapia production. These farm improvements were anticipated to be made in early 2016 with the proceeds of a financing that was postponed due to a drop in the price of the Company’s stock.
Aqua Farming Tech’s parent company, New Global Energy, has been working during 2016 to secure an alternate source of financing so that the Company can obtain the capital necessary for these planned improvements.
The Company has sold fish under various contracts that anticipate delivery over the coming year (from October 2015). The financing delays experienced during 2016 have delayed farm improvements with the result that the increase in fish production for 2016 has been less than anticipated causing delay in the delivery of fish under these contracts. And although the farm currently has more than an adequate number of fish in inventory to service these contracts, the fish available for servicing them still have to reach market size before they are sold. While base sales have been increasing, there is a little way to go to reach the stage where sufficient quantities of market size fish to service these contracts are available for delivery. We will keep you informed on the revised delivery dates of these contracts.
Please monitor our website at www.newglobalenergy.net for continued updates. We anticipate a great year ahead in 2017. Happy holidays to you and your family from your friends at New Global Energy.
Rocky French, President
Aqua Farming Tech, Inc.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This correspondence contains forward-looking statements. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Accordingly, these statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of many factors.