Executive Summary of Florida International Shrimp Harvesters, Inc.

Florida International Shrimp Harvesters, has over the last year brought together a group of professionals whose main objective is to develop a non polluting, vertically integrated, intensive shrimp farming complex in the State of Florida.

The five profit centers that encompass this vertically integrated shrimp farm complex are:

(1) Hatchery to produce seedstock (nauplii and postlarvae) and brood stock;

Initially, the project will produce white shrimp (penaeus setiferus) a species native to Florida. The hatchery will supply the necessary specific pathogen free (SPF) seed stock for our farming operation with the initial surplus being sold on the open market.

Presently, there are no commercial hatcheries in Florida producing native species. Florida should be first due to its temperate climate but in fact is last of all the Gulf and Atlantic states. The only commercial hatchery in Florida grows non-native pacific white shrimp post larvae. All are exported to Central America where the shrimp are grown to marketable size (approximately 12 million pounds in 1997) and sold mainly back to the U.S. Texas and the Carolinas have 80% of the successful commercial shrimp hatcheries and farms but only one 4 month growing season. In contrast Florida has a minimum of 8 months of suitable water temperatures and with the abundance of sunlight in the winter has a potential year round growing season. Florida International Shrimp Harvesters, Inc., location also has readily available natural gas and will utilize recovered heat from stand by generators to heat the water in the winter months. By having our own bio-secure hatchery we can minimize the most dangerous threat of the accidental introduction of shrimp viruses by contaminated seed stock.

SPF postlarvae can be produced for under $2.50 per thousand and demand a price in excess of $7.00 to $14.00 per thousand, if they can be located.

(2) Raceway tanks (maturation of shrimp for human consumption and live bait);

Raceway tanks will be pre-fabricated using our own designed and engineered 10' wide X 30' long X 4' deep fiberglass growout tanks. These tanks will be completely plumbed, wired, etc. and ready to be installed on any suitable tracts of land. This system can also be marketed and shipped anywhere in the state or world on flatbed trucks, in containers or break bulk cargo. These systems will be engineered with the latest available technology in water purification to insure that the incoming salt water is of ocean quality and that the minimal amounts of effluents conform strictly to all the jurisdictional laws concerning clean water. Structures will be engineered to cover these raceways to further secure against disease and environmental concerns.

Shrimp can be produced in our raceways for under $2.75 per pound and presently bring in excess of $4.75 if grown to full ninety day maturity. A higher profit ratio is realized if the shrimp are harvested live for bait and/or human consumption. Shrimp will start to be harvested 40-45 days from day of stocking.

(3) Feed mill for shrimp food;

Florida International Shrimp Harvesters, Inc. will formulate their own feeds for the growing of the indigenous species of shrimp that will be produced. Considerable amounts of the primary ingredients for the shrimp feed are produced in Florida. Shrimp shells and heads discarded when value added processing is accomplished will be processed and recycled into the shrimp feed. These feeds will then be irradiated locally to assure that no pathogens are introduced into the ponds.

Dr. Lawrence's specially formulated feed will be utilized. Presently it produces a ratio of less than 1.5 pounds of feed to grow 1 pound of shrimp.

(4) Processing and freezing plant;

The company will purchase a local modern processing plant, which meets or exceeds all the latest federal HACCP standards. Value added IQF processing and freezing would be implemented when the more profitable live shrimp market is saturated.

By processing our own product the company will be able to derive a minimum of $ .50 up to $1.50 per pound additional profit than if the shrimp were sold to independent processors.

(5) And marketing;

The lucrative live bait industry within the State of Florida and certain highly profitable live food shrimp markets throughout the United States and select markets in Canada and Europe will be the primary focus. The remaining majority of shrimp will be specialty packs both fresh and frozen for the U.S. and International markets. The shrimp will be sold to a variety of companies that have done business with some of the principals in the past.

Future displaced bait shrimp boat operators will be given the opportunity to be the primary distributors of the live bait produced. Their profits will increase due to the fact that their supply will be constant, regardless of the weather, increased demand, or lack of adequate supply in the height of the tourist seasons.

By producing all the bait shrimp needed within the state we further help the environment by eliminating the inevitable damage inshore trawlers create with wasted by-catch and sea grass damage. Sport fisherman who buy our product will be encouraged to release unused bait shrimp into the wild thus further enhancing the natural shrimp stocks with healthy native shrimp.

Additional profits are derived by marketing our own shrimp to the myriad companies that we maintain direct contact with, rather than pay brokerage fees of 2 to 7 %, that are normal in the market.


Florida International Shrimp Harvesters, Inc. finds, as does the 105th Congress, Bill S. 1080:

Due to the emerging technologies in farm management, water purification, hatchery design/production and function, in the coastal states has reaffirmed the company's convictions that successful shrimp farming for food and live bait for recreational sport fishing has now become feasible and extremely profitable.

From the past lessons learned in the shrimp farming industries it is becoming imminently apparent that the Florida Gulf coast is ideally suited for the production of shrimp for bait and food. Texas, currently the largest producer of farm raised shrimp in the United States, commands approximately 80% of that market. This is due to the insight of the various institutions of higher learning within the state, including but not limited to the Texas A & M Mariculture Facility at Port Aransas and the Marine Science Institute at the University of Texas. Because of the body of knowledge that has come out of their successes and failures, Florida International Shrimp Harvesters, Inc., is poised to capitalize on the emerging technologies to develop an industry that will be remarkably profitable.

The company has arranged with Texas A & M to receive the only indigenous SPF penaeus setiferus white shrimp brood stock available in the world.

Florida International Shrimp Harvesters, Inc. presently has options on several hundred acres of prime real estate ideally situated for shrimp farming on the Florida West coast. The company will obtain considerable additional amounts of land suitable for long-term expansion, when feasible. Overall, in excess of several thousand acres of suitable land for shrimp farming are available in the close proximity of the company's property.

It is consequential to note that our systems, in the minimum, will be significantly more environmentally friendly than other agriculture operations such as citrus and tomato farms. Minimal amounts of fresh water, no pesticides, herbicides, fungicides or fertilizers are used in shrimp farming. With our system the effluents have little or no detrimental environmental effects and in fact the effluents can enhance the growth of mangroves.

The Company will start with 40 acres of growout ponds. These covered ponds will be stocked to initially produce in excess of 16,000 pounds per acre. Harvest and cash flow begin 40-45 days after stocking the ponds with post larvae and full harvest of each pond is completed in 90 to 100 days.

It is estimated that to complete the entire project that a total investment of 11.5 million dollars will be needed. Production will commence in under fourteen (14) months. Total time to complete the entire project will be under (36) months. A conservative net profit of over 20 Million dollars per year is anticipated when the project is completed.

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