Power Prawns Producer Co., Ltd.

Business Plan MIM Program Thammasat University Bangkok, Thailand

Founders Ms. Unyarat Pornprakit Ms. Nattaporn Santhanawit Ms. Janejira Champaiboon Mr. Nattakorn Thamhatai Mr. Pipat Srimattayakul Ms. Noparath Ruammek Advisor Mr. Bill Randall

Power Prawns uses proprietary technology to breed 100% all male prawns that are lager size & higher price antibiotic residue free consistently supplied

Thailand Prawn farming status

Prawn farming is 3rd most important agriculture of Thailand, after Rice and Para Rubber. Though Thailand is one of the worlds leading prawn exporters with 10% market share, still 80% of farmers are still using very traditional farming method. More than 98% Thailands prawns exported are brine (marine) prawns while Freshwater prawns account only 2%, due to poor productivity problem. Power Prawns Producer Company will solve this problem. Standard & Poors Risk Indicator 2007: Thailands rating is BBB+ (Medium Class, satisfactory at the moment)
Thai Measurement Unit Currency : 1 USD = 36 THB Area : 1 Acre = 2.5 Rai

TABLE OF CONTENTS

1.0 EXECUTIVE SUMMARY................................................................... 1

1.1 1.2 1.3 1.4 1.5 The Opportunity ..................................................................... 1 Power Prawns The Solution ....................................................... 1 The Business Model, Operations and Marketing ................................. 2 Management Team Profile .......................................................... 2 The Investment Opportunity ....................................................... 3

2.0 THE COMPANY ........................................................................... 3

2.1 2.2 2.3 2.4 Background ........................................................................... 3 Vision and Mission.................................................................... 4 Key Accomplishments and Current Status ....................................... 4 Ownership Structure ................................................................ 5

3.0 THE PEOPLE .............................................................................. 5

3.1 3.2 Management Team ................................................................... 5 Advisory Board ....................................................................... 6

4.0 THE PRODUCT ........................................................................... 7

4.1 4.2 4.3 Background ........................................................................... 7 The Problems in the Prawn Industry: ............................................. 7 The Solution PPPs Freshwater Prawns ......................................... 8

5.0 INDUSTRY AND COMPETITION ........................................................ 11

5.1 5.2 Industry .............................................................................. 11 Competition ........................................................................ 11

6.0 MARKETING AND SALES STRATEGY.................................................. 13

6.1 6.2 Marketing Objectives .............................................................. 13 Market size and segmentations .................................................. 13

7.0 OPERATION STRATEGY ................................................................ 14

7.1 Supply Side Operation............................................................. 15

7.2

Customer Interface Operations .................................................. 16

7.2.1 Logistics: ......................................................................................16 7.2.2 Inventory Management: ...................................................................17

7.3

Research and Development ...................................................... 17

8.0 RISK MANAGEMENT .................................................................... 17 9.0 FINANCIAL HIGHLIGHTS ............................................................... 18

9.1 9.2 9.3 9.4 Financial Overview ................................................................ 18 Sensitivity Analysis................................................................. 19 Breakeven Analysis ................................................................ 19 Exit Strategy ........................................................................ 19

10.0 FUNDS REQUIRED AND OFFER ....................................................... 20

1.0

EXECUTIVE SUMMARY

1.1

The Opportunity

Widely known for its tasty texture and large size, Freshwater prawn is one of the most sought after seafood. More than 400,000 tons1 of Freshwater prawns, worth US$ 6.9 billion2, are consumed annually. There has been consistent excess demand on prawn, and it is forecast to grow dramatically in the upcoming years. Growth over the decade has been steady at a healthy rate 27.4%3. However, Thailand, formerly the worlds leading prawn producer, is unable to satisfy this demand due to poor productivity problems. Thailand has incurred a US$119 million annual opportunity costs during last 3 years, as its production fell 40% from 32,500 tons in 2003 to 19,700 tons in 20064. Poor quality supply of baby prawns (broodstock) and poor farming practice resulted in lower yields. Typical broodstock results in large female populations (smaller in size, lower price), while poor broodstock can additionally result in weaker hatchlings often requiring banned antibiotics. These inconsistencies create the need for continuous and frequent partial harvesting over a 9 months period which is very operationally inefficient. During these years farmers switched to growing the smaller White shrimp, which at the time was unaffected by viruses, could full harvest every 3 months, offering a steadier revenue stream. Although a smaller upside, it provided steady and more reliable income. The farmers switch to White shrimp has created a huge gap in the supply of Freshwater prawns, both domestically and internationally. 1.2 Power Prawns The Solution

With the proven success in Freshwater prawn broodstock development, Power Prawns Producer Company (PPP) was formed to commercialize and implement its cutting edge technology to improve Freshwater prawn farming efficiency. Through a surgical transsexual
1 2

Fisheries Global Information System: Macrobrachium Rosenbergji Rodale Institution, www.rodaleinstitute.com 3 Aquaculture Research, 2005, Michale Bernard New, European Aqualculture Society

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breeding technique perfected by scientists at Kasetsart, Thailands leading agricultural university, PPP has grown 500 neo-female prawns (baby males grown to be females) which can be naturally mated. Due to the chromosome parings when mated, these neo-female prawns produce 100% male, virus resistant and pathogen free broodstock offspring. This technique is not GMO. It is merely a cross breeding technology producing normal prawns. All male harvests are 3x larger in size, capture a 100% higher market price, grow faster (4 months vs. 9 months), and require harvesting in a single day. An average farmer using Power Prawns broodstock will gain 134% additional yield compared to typical Freshwater prawn farming per year. 1.3 The Business Model, Operations and Marketing

PPP will leverage its core competency on developed broodstock and fulfill the untapped Freshwater prawn demand under a Multi-Party contract farming model, which essentially equates outsourcing and renting existing farm and labor to grow Freshwater prawn using its unique broodstock. PPP has advantageous position in requiring minimum investment in assets as we will leverage the existing excess capacity of underused White shrimp farms and their existing staff. To date, PPP has successfully recruited 13 independent shrimp farmers and 1 shrimp farmer co-operative to raise Power Prawns. Marketing is also very efficient as there is existing unmet demand by exporters, and the fresh seafood exporters are easily identified and limited in number. PPP will make money by exclusively buying back the crop at predetermined price and resell this crop to seafood exporters at margins of 40%. To date, two major exporters have issued letters of intent to purchase (LOI) securing demand for 3,400 tons or US$ 23.8 million annually from PPP. 1.4 Management Team Profile

Power Prawn will also make a mark by applying professional management to what is typically an unsophisticated industry. In addition to a diversified management team with over 40

Thai Shrimp Association

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years combined experience in supply chain, marketing, and engineering, the following key players are also key to PPPs opportunity:
Ms. Noparath Ruammek, CEO and Director of Operation, 10 years experience in prawn industry with 5 years as an export manager for Andaman Sea Shrimp Farm. Her family owns a number of prawn farms. Dr. Wikrom Rangsint Director of R&D, 10 years experience in prawn industry in Thailand and additional 5 years research and development in prawn breeding and sex conversion. He has developed our core technology to improve broodstock quality.

1.5

The Investment Opportunity

Power Prawns Producer Co. founders have invested US$300,000 to date in developing the marketing and final stage of Power Prawns Solution. PPP is seeking for US$ 1.1 million in exchange for a 20% stake, and 50% investors annualized return, to establish its first commercial hatchery located in Suphanburi province, Thailand.
Summary Financial Projection January 2008- December 2012 (US $'000) Revenue Cost of Goods Sold Gross Margin Operating Expenses EBITDA Earning After Tax Free Cash Flow 2008 5,185 (3,253) 1,932
37%

2009 13,378 (8,172) 5,205

39%

2010 25,480 (15,445) 10,035

39%

2011 39,102 (23,631) 15,471

40%

2012 52,942 (31,939) 21,003

40%

(868) 1,270 684

13%

(1,540) 3,881 2,566

19%

(2,123) 8,149 5,539

22%

(2,691) 12,935 8,946

23%

(3,357) 17,801 12,352

23%

933

3,107

6,441

10,070

13,363

2.0
2.1

THE COMPANY
Background

Freshwater prawns are one of the most sought after seafoods in worldwide markets because of their plump meat and large size. Thailand, even as a leading producer, cannot meet the demand because of the disease sensitive species, and female dominated offspring which tend to be smaller and less valuable. Ms. Noparath Ruammek, CEO of Power Prawns Producer Co. (PPP) has been in the prawn farming industry for more than 10 years, when she
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and her fellow graduate students at Thammasat University were introduced to Mr. Wikrom Rungsin and Dr. Prapansak Srisapoome, from the Faculty of Fisheries, Kasetsart University5. The two have developed a cutting edge technology to improve broodstock quality and, therefore, increasing prawn farming productivity. With Ms. Ruammeks experience and leverage on her current prawn farms, and the huge opportunity the technology presents in the lucrative prawn market, the group has formed a new venture partnership. PPP is being formed to leverage its competency on broodstock development through a contract farming concept. PPP is now seeking full investment to quickly capitalize on this opportunity. 2.2 Vision and Mission

PPP will integrate and dominate the prawn farming industry to become a world leading Freshwater prawn supplier through cutting edge broodstock management and prawn farming technologies. We are dedicated to superior yields and continuous supply of quality Freshwater prawns through use of modern technology and farming practices. 2.3 Key Accomplishments and Current Status

Over the last year PPP has made significant progress to bring the PPPs business model to market. Five years of research and proof of concept has been committed to the technology. In addition, key milestones in commercialization have included: Created 500 virus free Neo-female prawns in nursery ready to give birth to 8 million baby
prawns by November 2007 which is sufficient to produce 3x our first year target revenue.

Signed commercial contract farming agreements with:

Samutsakhon province, Tachin River Plain Shrimp Farmers Co-Operative: access to more than 10,000 acres and 350 GAP (Good Aquaculture Practice) certified shrimp farmers
(see appendix IA).

Nakornpathom province, 13 GAP certified independent farmers in Bang Len district, equivalent 20 acres of prawn farming area (see appendix IB).
5

Kasetsart University is the leading university in Thailand specialize in agricultural research

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Chachoengsao province, Letter of intent with Bangpakong Shrimp Farmers Co-Operative, for 6.4 acres controlled farm.

Established a lease contract, leveraging Ms. Ruammeks existing 4 acres indoor facilities for
hatchery and 28 acres for nursery.

Established 2 letters of intent with key customers for purchase agreements from two major
shrimp exporters consuming 100% of our output for the first 3 years. (see appendix II)

Completed field research and market validation with more than 40 White shrimp farmers
and industry leaders. (see appendix III)

2.4

Ownership Structure

Name Ms. Noparath Ruammek Ms. Nattaporn Santhanawit Mr. Nattakorn Thamhatai

Ownership 18% 10% 10% 10% 10% 10% 16% 16%

PPP projects to generate the first revenue in April 2008, 10 months after our funding in June 2007. The first 500 tons shipment has been pre-booked by Wales & Co Universe Ltd. Additional capital of

Mr. Pipat Srimattayakul Ms. Janejira Champaiboon Ms. Unyarat Pornprakit Mr. Wikrom Rangsint Dr. Prapansak Srisapoome

US$1,100,000 is required, while the foundershareholders have contributed US$300,000 in cash and non-billed pre- operating work.

Figure1: Current Ownership Structure

3.0
3.1

THE PEOPLE
Management Team

A large part of the Prawn farming sector has traditionally been unsophisticated and a very segmented industry. PPP plans to bring a new dimension of professional management, supply chain, technology, and marketing to create a strategic competitive advantage. We have put together key players to dominate the research and technical side through our partnership with the leading scientists from the sector.

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Figure 2: Power Prawns Management Team Board of Directors Ms.Noparath Ruammek CEO

Advisory Board

Dr. Wikrom Rangsint R & D Director

Mr. Pipat Sirimattyakul Plant & Farming Director

Ms.Unyarat Pornprakit Accounting & Finance Director

Ms. Nattaporn Santhanawit Mr.Nattakorn Thamhatai Business Development Director 1 & 2

Ms. Janejira Champaiboon Supply Chain Management Director

Name / Position Ms. Noparath Ruammek

CEO and Director of Operation

Degree MSc in Marketing BBA (International Business) MSc in Marketing B. Eng (Telecom) MSc in Marketing BA in Economics MSc in Marketing BBA (Marketing) MSc in Marketing BBA (Accounting)

Mr. Pipat Sirimattayakul

Plant & Farming Director

Experience 5 years Export Manager, Thai-Myanmar Shrimp Farm 2 years Black Tiger Shrimp Farming 5 years Project Coordinator, Andaman Deep Sea Port in Myanmar 3.5 years RF Engineer, MYCOM International 1 year Business Development Executive, TRUE MOVE 4 years marketing and sales with multinational companies and state enterprises. 1 year managing rep office for an international airlines 3 years Key Account Executive, Thai SAMSUNG Electronics 3 years Group Accounts Manager, Philips Electronics 2 years Accounting and Audit, Price Waterhouse Coopers 4 years General Manager, Jubilee, largest karat diamond retailer in Thailand 1 year in New Product Development, EFFEM Thailand Inc. 4 years in Marketing assistant at EFFEM Thailand Inc. 10 years experiences in Prawn Industry in Thailand 5 years research and development in prawn sex conversion (Neo-female Project)

Ms. Nattaporn Santhanawit

Business Development Director 1

Mr. Nattakorn Thamhatai

Business Development Director 2

Ms. Unyarat Pornprakit

Director of Accounting & Finance

Ms. Janejira Champaiboon

Supply Chain Management Director

Dr. Wikrom Rangsint

Director of R&D

MSc in Marketing B. Eng (Electrical) MSc in Zoology, Kasetsart University

3.2

Advisory Board Dr. Chalor Limsuwan, Most noted professor and researcher in the Thai shrimp industry. More than 25 years experience in the shrimp industry, having published more than 250 related articles. Dr. Niti Chuchird, Thailands leading shrimp virus and shrimp breeding improvement expert. His strong technical background will help PPP in R&D activities. Mr. Somsak Maneetatyasai, President of Thai Shrimp Association. His 20 years of experience in aquaculture export, together with fruitful connections make him a key opinion leader. His reputation will endorse PPP.

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4.0

THE PRODUCT

4.1

Background

There has been a consistent excess demand for Freshwater prawns. However, Thailands Freshwater prawn production has fallen 40%, from 32,500 tons in 2003 to 19,700 tons in 2006. Farmers have typically failed in the

Freshwater segment because of poor yields from female dominated ponds. Farmers have shifted to grow alternative shrimp products which grow faster while others have gone out of business. 4.2 The Problems in the Prawn Industry:
The problem is not the demand, but QUALIFIED supply
Mr. Poj Aramwattananont President Wales&Co Universe Limited Thai Frozen Foods Association

The Customers Problem (Demand side): There is currently a supply shortage for

Freshwater prawns, even for domestic markets. Mr. Poj Aramwattanaont, President of Wales & Co Universe Ltd., Thailand largest shrimp exporter and the President of Thai Frozen Food Association states, The problem is not the demand, but consistent qualified supply offered with antibiotic residue tolerance which is required by buying countries. For any exporter, having another product offering, other than White Shrimp and processed food, is a huge advantage. The Farmers Problems (Supply side) 1. Problems from mixed gender: male and female prawns mixed within the same pond creates 3 main problems: The Gender Size Problem: 60% of all prawn offspring farmed are female. They are naturally smaller and on average are sold at least 70% lower in price per kilogram than males.
Size Difference Male VS Female
US$ 2 per KG US$ 7 per KG

Slow growth of male: naturally, male prawns fight over females, causing slow growth. It takes up to 9 months to completely harvest the crop.

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Partial harvest: Farmers first pick out the smaller female prawns at the 5th month, leaving male prawns to continue growing with subsequent monthly harvests until the 9th month. These interim harvests disturb sediment at the pond floor, spreading bacteria, and killing prawns. Banned antibiotics are used to offset the problem, however, it results in non compliance to export standards.

Having 100% males (mono-sex) is the ideal of all prawn producers. Prawn producing countries have tried to come up with mono-sex manual selection methods, with no success to date. The result failing prawn farmers were forced to switch to raise White shrimp, easier to grow and more frequent harvest, though the price per kilogram is 50% lower than male Freshwater prawns and less upside. 2. Poor farming practice:
Prawn Virus Outbreak: Farms have no quarantine policy or virus detection practices to protect prawn breeds. In 2003, two prawn viruses, MrNV and Extra Small Virus (XSV) infected prawns, and produced weak babies, having very low survival rates, dropping from 80% to 30% in the nursery stage. Virus resilience age: Typical prawn farmers seed and cultivate prawns just beyond post larva stage. At this stage, prawns are vulnerable to virus capable of killing post larval babies.

4.3

The Solution PPPs Freshwater Prawns

With PPPs core competencies, we will solve both Demand and Supply problems through PPPs all male high quality broodstock (Power Prawns Broodstock) and our farm management systems. 1. PPPs all male high quality broodstock (Power Prawns Broodstock) Through PPPs proprietary technology, all male high quality broodstock results in;

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Higher yield - 134% higher weight yield or US$ 372,480 per year6 higher revenue than standard freshwater prawn farming. Male prawns are typically 3 times larger than female and get more than 70% higher market price.

Faster Growth Rate With no female distraction, male prawns grow faster and will be ready for harvest in 3 months after ponds are seeded with broodstock.

How do we create our unique 100% male broodstock?

Figure 3: Sex Conversion Operation

PPPs Technology
Mr. Wikrom Rungsint, a member of PPPs founding team, perfected a proprietary surgical procedure,

whereby the androgenic gland (male hormone production gland), of a virus free 45-day baby male prawn is removed. Lacking the male hormone the fully grown prawn becomes an egg producing Neo Female. Due to the chromosome crossing of a Neo female and normal male, the resulting offspring will be 100% Male
(see appendix VI). This is not GMO. In addition, hormone

based gender selection technologies are well accepted in seafood, especially fish such as: rainbow trout and tilapia.

2. PPPs farm management system Professionally managed, PPP will outsource the prawn cultivation to our selectively

Base on 8-acre production

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contracted farmers who will be strictly controlled according to PPPs standard. Monitoring all critical aspects of the cultivation process will ensure both maximum utilization unique of the broodstock's
Output Yield (KG)

Power Prawns (all male)

Typical Freshwater Prawn Male 21,360 Female 12,000 33,340 $7 $ 149,380 $2 $ 24,000

characteristics

and

78,000
Market Price (USD) Revenue (USD)

$7

minimizing production variables.

Comparing to typical broodstock, Power Prawns has advantages in many aspects as shown in Figure 4.

$ 546,000

$ 173,380

Figure 4: A comparison of Freshwate prawn farmers average annual revenue yield using Power Prawns vs. Standard broodstock

How PPP can make money?

PPPs customers are seafood exporters. PPPs broodstock production (breeding, hatching, and nursing) is to be done in-house. PPPs cultivation process will be outsourced to selectively existing White shrimp farmers. This outsource process, so-called contract farming, has three steps:
Outsource Prawn Cultivation to Farmers

1
Contracted Farmers Exporters

3
PPP provides to contracted farmers 40% more revenue Zero risk PPPs broodstock Financial support Technical support Sells to exporters Sell to exporters at at aapredetermined price predetermined (40% price margin)

Constant Supply Antibiotic Residual Free Residue Prawn 0% Antibiotic

Constant Supply

2
Figure 5: PPPs Business Model
PPP acquires all male freshwater prawns at predetermined price

PPP recruits prawn farmers to enter our contract farming program as PPPs outsourcing.

Power Prawns all male broodstock will be supplied by PPP and the contractors will raise them under PPPs close supervision and developed guidelines. When the prawn crop is ready to be harvested, PPP will exclusively acquire the crop at

predetermined White shrimps price. The converted White shrimp farmers have eagerly engaged in the program where we pay them 20% higher price/kg than they normally would have made with their own White shrimp crop. PPPs advanced expenses (feed and broodstock cost) will be
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redeemed by deduction from sales amount. Through our system, plus additional yields, contract farmers that converted to Power Prawns will make 40% more revenue per year by partnering with PPP than their existing White shrimp operations. PPP will consolidate the prawns from its various contractors, and sell the accumulated

crop to exporters at standard Freshwater prawns price which is 70% higher than the acquired price paid to farmers.

5.0

INDUSTRY AND COMPETITION

5.1

Industry7

In 2006, worlds prawn production (farming) reached US$36 billion 8 . The market is categorized by prawn species. Major categories are Black Tiger shrimp, White shrimp and Freshwater prawn. Freshwater prawns global market consumption is worth US$ 7 billion, 20% of total shrimp farming value.
Freshwater Prawn Consumption by Country
In billion USD

Major consumption of Freshwater

$1.7, 24%

$3.8, 54% $1.5, 22%

prawns comes from European Union and the United States, and

Source: Rohdale Institute

US

EU

Others

keeps rising every year at 27.4%9

per annum. 83%10 of these countries consumption is imported. Thailand used to be the worlds major supplier of Freshwater prawns with export volume of 11,300 tons in 2003 until 2006 when only 6,900 tons were exported due to productivity problems. Currently India is the world largest exporter of Freshwater prawns, at 42,000 tons to the world market last year. 5.2 Competition

7 8

National Food Institution (Thailand), 2002 Thai Shrimp Magazine 9 Aquaculture Research, 2005, Michale Bernard New, European Aqualculture Society 10 Mississippi University Coastal Research

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PPP is competing with the remaining Freshwater prawn producers which are fragmented independent farmers. Traditional prawn farmers are typically unsophisticated, they normally raise the prawns in natural ponds just after
Prawn Farming in Thailand: Harvesting

broodstock has passed the post larva stage. At this age

they are very vulnerable to virus infection, resulting in an average of 60% compared to 90% survival rate of Power Prawns. The only method known for cultivating all male prawns in farming is manual selection which is very labour intensive and time consuming. This practice is very rare, found with some farmers in India and Thailand, and this method itself is only 70% accurate (i.e. many females still remain).

Trends Government Regulation: The Thai Government has prohibited brine (saltwater) based shrimping (i.e. White & Black Tiger shrimps) in freshwater areas11, as the drain from salt ponds deteriorates soil and poses a threat to other agricultural sectors. This creates a huge opportunity of more than 10,000 ponds in this area that will either be closed or made available for PPP for favourable contract farming terms. To abide by the law, these farmers are forced to raise White shrimps in brackish water (less than 5 parts per thousand of salt vs. water) which leads to lower yield, (10 tons yield per acre in standard salt water vs. 2.5 ton per acre in brackish water). Eroding price of White shrimps: Farmers
5.00

PriceofWhiteShrimp
4.50 4.00 m 3.50 a r g o 3.00 l i k r 2.50 e p 2.00 D S U 1.50 1.00 0.50 0.00 0 0 0 2 , 3 Q 1 0 0 2 , 1 Q 1 0 0 2 , 3 Q 2 0 0 2 , 1 Q 2 0 0 2 , 3 Q 3 0 0 2 , 1 Q 3 0 0 2 , 3 Q 4 0 0 2 , 1 Q 4 0 0 2 , 3 Q 5 0 0 2 , 1 Q 5 0 0 2 , 3 Q 6 0 0 2 , 1 Q 6 0 0 2 , 3 Q 7 0 0 2 , 1 Q

who raise White shrimps are facing price erosion. White shrimp has become the main export prawn product for China, Vietnam, Ecuador and Thailand. Supply of White shrimps has been growing annually.

Source: Mississippi University Coastal Research

11

Mr. Somsak Maneetatyasai, President of Thai Shrimp Association (refer to Article 9)

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6.0

MARKETING AND SALES STRATEGY

6.1

Marketing Objectives
PPP's Marketing Objectives 2008 Volume Sold (Tons) 747 $ 5,185 $ 6,944 2009 1,835 $ 13,378 $ 7,292 Year 2010 3,328 $ 25,480 $ 7,656 2011 4,864 $ 39,102 $ 8,039 2012 6,272 $ 52,942 $ 8,441

PPPs demand is secured with letters of intent from our exporters at 3,400 tons per

Reveune ('000 USD) Sellling Price per ton (USD)

18 37 59 80 98 Number of farmers required Note: The capacity of our contract with Tachin River Plain Shrimp Farmers Co-Operative alone is more than sufficient for the targeted revenue through year 5.

year. With the current 13 contracted farmers, and our production capability of broodstock, PPPs operational target is established at 747 tons in year 1. By year 3, we will expand to 59 contracted farmers to fulfill the demand from Wales & Co Universe Limited and Thai Royal Frozen Foods Co., Ltd.

6.2

Market size and segmentations

Segmentation: Freshwater prawns market in Thailand Y2006 was 19,700 tons worth US$ 114 billion which can be segmented into 2 key areas
Domestic market: This is 65% of total market. This market is very fragmented where most prawns are sold alive directly to fresh markets scattered throughout the country.

Export market: This is 35% of total market. There are about 100 exporters in Thailand. Prawn exported market
US$ 74,(65%) Source: Custom Department of Thailand

Thailand Production Value 2006 (million USD)

US$ 40,(35%)
Export volume Domestic

is dominated by the top 5 players which are Wales & Co Universe Limited, Charoen Pokphand Foods Public Co., Ltd. (CPF), Thai Union Frozen, Union Frozen Food and Thai Royal Frozen. Exporters typically buy fresh prawns kept in ice containers from the farmer for further processing.

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Target Market
The initial target market of PPP is the export segment due to the following reasons: 1. Customers are clustered, easily identified and require minimum logistics. 2. Exporters are systematic in their operations, using forward contracts to lock in pricing beneficial to all parties involved. 2 out of top 5 exporters issued the letter of intent to purchase from PPP. The LOI PPP received from Wales & Co Universe Limited and Thai Royal Frozen worth 3,400 tons per annum or US$ 23.8 million.

Growth and Marketing beyond Yr 2 Thailand has faced the supply shrinkage since 2003, being replaced by India as the new leading exporter. PPP will extend its marketing vertically up the channel, communicating directly with US and European importers, as well as large channel buyers (Chain restaurants and Seafood Distributors). We will reach them trough key food shows and trade meetings such as the Boston Seafood Show or European Seafood Exposition. Other upside potential The Current operation model is based on using only 35% capacity of the business facilities. Significant increases of revenue can be achieved with no additional financial resources. PPP can also look at the potential to expand production into neighboring countries using similar contract farming practices that have tariff and tax advantages such as Vietnam.

7.0

OPERATION STRATEGY

According to the business model, PPP will produce all male prawn broodstock and outsource the cultivation to contracted farmers. The harvested prawns will then be sold to exporters. The operation is divided into 2 parts.
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7.1 Supply Side Operation

7.1.1. Broodstock Production: The core element of the PPPs business model is the raising of quality broodstock for distribution to our contracted farms. Simply put, we mate and hatch all male offspring from our NeoFemales, and then all hatchlings are entered into a separate nursery pond for 25 days. The male broodstock (baby prawns) will be sent to our contracted farms to be introduced to the ponds and raised. Hatching Facility: Power Prawns Producer will lease a pre existing facility in Suphanburi (120 km from BKK) including 4 acres of hatchling ponds through our CEOs existing prawn business at a rate of US$ 1,390 per month. 4 acres will be used to perform the aquaculture surgical procedures, breeding, hatching, and administration of Power Prawns. The current layout and facilities complies with GAP (Good
Pre-existing facility in Suphanburi

Agriculture Practice) and CoC (Code of Conduct). US$ 500,000 has been allocated for basic technology improvements for a fully self contained functional facility. The location is

extremely well positioned in the heart of key prawn farming areas. (see appendix V)

Broodstock Production Staff: The estimated number of staff is based on production

capacity which will be increased from year to year. For Year 1, we will need approximately 21 people as shown in table below.
Number of Employees Hatchery & Nursery Staff Surgeons Lab Staff QA staff MGMT & Admin Year 2008 5 1 3 3 9 Year 2009 10 2 4 5 10 Year 2010 16 2 4 8 10 Year 2011 21 3 5 11 12 Year 2012 25 3 5 13 12

Our

production

and

operation

divisions

demand the most staffing being responsible for the core hatcheries activities of Power Prawns.

Total

21

31

40

52

58

Figure 5: Production and Operation Staff

7.1.2. Contract Farming: PPP will outsource the prawn cultivation to our contracted farms that
qualify the GAP and CoC standards, where labor, facilities and supplies are 100% outsourced, requiring only feed supply to be provided by PPP. PPP will target White shrimp farmers in central region of Thailand since they are facing problems with low productivity and the regulation that
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prohibits brackish shrimp farming in the area. PPP will acquire the feed from the suppliers who have been working closely with our CEO over the years. This provides the highest leverage on our core competency. The ponds are seeded with our hatchlings raised at the contracted farms for another 3 months before being harvested and delivered back to us under precontracted rates.

Farm Location: The location of the contracted farms will be divided into 3 geographical areas in the central part of Thailand: Bang Len, Tha Chin (Tha Chin Cooperative consists of 350 farmers) and Bangpakong (Bangpakong Cooperative consists of over 700 farmers). This separation helps diversify any regional environmental risks. During the 3month period, our farm staff will maintain supervisory relationships with the farmers to ensure that the productivity and proper farming practices are taking place.

Monitoring System: PPP will employ a Farm Monitoring Software (see appendix IV) developed by Shrimp Network Co., Ltd. for contract farming practices. Through this software, PPP will be able to control feed supply to our contracted farmers, estimate prawn volume in each farmers pond and forecast our Freshwater prawns supply to exporters. Our farming staff will visit the contracted farms weekly to monitor the

condition of the farms as well as give support to farmers if needed.

1
Outsource Prawn Cultivation to Farmers

Contracted Farmers

3
Zero Inventory

Exporters

Farming all male freshwater prawns under PPPs supervision 3 months

Operation procedure Broodstock production Hatching and Nursing 1 month

Outsource transportation to deliver all male freshwater prawns to exporters

Constant Supply Residue Prawn 0% Antibiotic

PPP acquires all male freshwater prawns at a predetermined price

Figure 6: PPPs Operation Flow

7.2

Customer Interface Operations

7.2.1 Logistics: PPP will deliver all male prawn broodstock from the hatchery to the contracted farms, and then deliver the harvested prawns to the exporters using an
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outsourced transportation company. For international delivery, the exporters will be responsible for the transportation management as commonly practiced in the industry. 7.2.2 Inventory Management: PPP will not hold any inventory as the all male prawns will be delivered directly from the contracted farms to the exporters. 7.3 Research and Development Broodstock development is truly an ongoing and endless R&D effort. Together with all the key research professors from the Faculty of Fisheries, Kasetsart University, both our shareholders and our advisors in the Advisory Board, we will continue working on Research and Development on our products and farming practices. Data collected from our farming management software will be used to support future R&D.

8.0

RISK MANAGEMENT

8.1

Contracted Farms Harvest Failures: Potentially caused by:

1. Natural disaster: PPP diversifies disaster risk by having 3 locations in central freshwater areas. To date, PPP has already established legal contracts with 350 farmers in 2 provinces, Nakhonphatom and Samutsakorn. 2. Poor farming practice: farmers will be closely monitored by PPP in subsequent crops. Losses will be credited to PPP against the second harvest revenues. PPP is able to withstand failure up to 44% of total volume production. 3. Virus outbreak: Power Prawns is introducing PCR virus scanning and prevention methods. We will breed and raise prawn broodstock in a controlled environment for 45 days until post larva stage, where freshwater prawns are not susceptible to deadly virus. Even with virus infection present, prawns can still yield reasonable return. Prawns viruses are harmless to human, and infected prawns are commonly exported and sold in U.S. 8.2 New Competitors: PPP May see new competitors with Male Broodstock Production

capabilities. However, demand for Freshwater prawns in both domestic and international
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markets is significant and growing at 27.4% annually. This is sufficient to accommodate new players over the next 5 years. 8.3 Intellectual Property

PPP has erected barriers to protect the company from competitors. First, we have complete control over the surgical procedure technology and the most critical element of the farming, the broodstock. No outsiders have ever been successful in replicating the surgery. Any new comer will take several years to build a sufficient stock for mating. We will control 100% of our broodstock for our own use. Second, we are in the process with our legal advisors, Rouse & Co, to develop Patent on the surgical process, under companys name. 8.4 Relationships with key industry figures: We have partnered with the key influential

players of research and commerce in the Thai prawn industry. The strength of relationship with the industry will be a very strong barrier to competitors.

9.0

FINANCIAL HIGHLIGHTS

9.1

Financial Overview

Summary financial projections, cash flow projections, supplementary financial information and selected balance sheets are detailed below. A complete five-year spreadsheet and assumptions used in compiling the financial projections can be found in Appendix VII.
Summary Financial Projection January 2008- December 2012 (US $'000) Revenue Cost of Goods Sold Gross Margin Operating Expenses EBITDA Earning After Tax Free Cash Flow 2008 5,185 (3,253) 1,932
37%

2009 13,378 (8,172) 5,205

39%

2010 25,480 (15,445) 10,035

39%

2011 39,102 (23,631) 15,471

40%

2012 52,942 (31,939) 21,003

40%

(868) 1,270 684

13%

(1,540) 3,881 2,566

19%

(2,123) 8,149 5,539

22%

(2,691) 12,935 8,946

23%

(3,357) 17,801 12,352

23%

933

3,107

6,441

10,070

13,363

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9.2

Sensitivity Analysis

Although PPP deals in agricultural business where price fluctuation is its nature, PPP's business model mitigates this risk by using predetermined price on both customers end and farmers end. This practice is already the industry's norms. However, the sensitivity analysis below indicates that PPP's financial projection is still robust against the increase and decrease of our revenue's components. The business can tolerate the following situations and maintain a positive NPV or NPV 0 at 45% discount.
Sensitivity Analysis Conditions Sales Volume Cost of Goods Sold Selling Price 46% 28% Increase Decrease 78% NPV 0 0 0

9.3

Breakeven Analysis
Breakeven Analysis Cash from Operations 13 Months Breakeven points (USD'000) 2,222 Breakeven points (tons) 320

PPP will breakeven on cash from operations in 13 months (August 2008) with sales of US$ 2,222,000 at 320 tons of prawns. 9.4 Exit Strategy

The most likely harvest strategies will be an Initial Public Offering (IPO) or sale to one of the larger domestic agricultural conglomerates. The projected enterprise value for the 5th year is US$ 87.84 million. As this business is also very cash rich with little reinvestment in

infrastructure, a favorable dividend policy could be set if it is in the interest of our investor.
Exit Strategy
Projected 5th FY Enterprise Value (USD $'000)

Projected 5th FY Net Income Valuation Multiple (P/E ratio)* Sub total Adjustment: Cash Projected 5th FY Enterprise Value

17,801 3 53,402 34,434 87,836

* Based on Stock Exch. Of Thailand P/E of 7 for agricultural industry avg. 2007 adjusted to 3 for risk premium

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10.0 FUNDS REQUIRED AND OFFER

PPP requires US$1.1 million from outside investors to capitalize the business to meet the needs of the plan. The founders have contributed US$ 300,000 in cash and non-cash activities. Investors will receive 20% of common stock and 2 of 5 board seats, which would result in 50% annualized return. We have used this as a benchmark but are also open to alternative preferred shareholding structures to be negotiated. Uses of funds are illustrated below. If all financial projections are met, the projects IRR will be 181% with a NPV of US$ 11.37 million based on projected free cash flow.
Uses of Fund Uses of Fund Hatchery and Nursery facility and equipment Working Capital and Operating Expenses Marketing and Selling Expenses Total Amount 600,000 320,000 180,000 1,100,000 % of Funds 55% 29% 16% 100%

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APPENDICES

Appendix I: Appendix II: Appendix III: Appendix IV: Appendix V: Appendix VI: Appendix VII: Appendix VIII:

Contract Farming Agreements LOI of exporters Field Research Shrimp Network Software Farm Standards Chromosome Crossing Map Financial Statements Gallery

Appendix I: Contract Farming Agreement A: Contract signed with Co-op B: Contract signed with 13 individual farms

Translation of Contracts Highlights Farmers must follow the instruction that PPP sets for pond and environment control. Both parties are responsible for advanced payments and PPP will deduct these costs from final revenue. Farmers will be paid based on final output: If the output meets the target, farmers will get an additional 20% premium on top of the agreed price If the output falls below the target, farmers will be paid for the average amount produced in the past six months at the agreed price Farmers are bound to keep all the process detail confidential within the enforced period.

Page 1

Appendix II: Letter of Intent from Exporters: Thai Royal Frozen Food Co., Ltd. & Wales & Co Universe Limited

Page 2

Appendix III: Market Research

PPP has conducted market researches to with parties throughout the whole supply chain 1. The hatchery & nursery farm Respondents K.Nithit Palkulchai the owner of Kaset Somboon, the second largest Freshwater prawn hatchery farm. K. Kasem SriKhumthai the owner of Freshwater prawn hatchery farm in Supan Buree Objective Fieldwork Findings Total process of traditional Freshwater prawn hatchery takes 19-20 until the post larva stage Current baby prawns are sold at the post larva stage at 0.09 THB The infrastructure to nurture baby prawn including o The hatchery pond size 2.5x2.5x15 m which can produce 500,000 babies per harvest o The reservoir pound to mix the freshwater with the brine water size of 6x6x1.5 m o The Ratemia pound to with the size of 0.75x0.75x0.75 m o Closed environment with sunlight protection and controlled temperature at 30 celcious degree is the optimum condition to raise the babies To understand current process of prawn hatchery March, 2007 In depth interview and filed visit

Raising white shrimp in brackish water result in much lower yield which make the farming in central area less competitive comparing raising in the brine water.

Average yield per Rai of white shrimp in central area is 1,000 kg per Rai at the market price of 120 bht / kg (100 shrimp / kg) White shrimp farming is high risk since the shrimp is sensitive to external factors which

1. The traditional Freshwater prawn farmers Objective To understand current behavior, knowhow and problems

in Freshwater prawn farming in central area Fieldwork Respondents K.Narong the owner of 20 Rai of Freshwater prawn in Nakornphatom, Banglane Findings Traditional Freshwater prawn start 1st harvest in the 5th month and then later once a month until the 9th month Generally female prawn size is maximum at 40 prawns / kg which can be sold at 80 bht /kg. Male prawn is sold at 140 bht / kg. Freshwater prawns are transported live after harvested. Feb - March, 2007 In depth interview and filed visit

2. The white shrimp farmers in central area Objective To understand current behavior, knowhow and problems

in White shrimp farming in central area Fieldwork Respondents Findings 10 member of Samutsongkram, Tha-Jeen cooperation 20 independent farmer in Nakornphatom, Banglane 5 members Bangpakong shrimp farming co-operative Feb - March, 2007 In depth interview and filed visit

Page 3

Appendix IV: Shrimp Network Software

Appendix V: Farm Standards from Department of Fisheries

Page 4

Appendix VI: Chromosome Crossing

Traditional Mating Mating between Male and Neo-Female

Neo-female

Appendix VII: Financial Statement

Financial Assumptions Revenues: Annual increase of 5% in both selling price and buy back price. This is because we will be using a forward rate, predetermined prices, on both ends of operation. This practice is already an industry norm among agricultural export business in Thailand. COGS: Hatchery/Nursery capex is relatively fixed over the 5 year period generating straight line Dep & Amort., labor to operate the facility is similarly fixed as it only applies to the Hatchery/Nursery, while prawn food and prawn buyback fluctuate based on production revenue. Expenses Annual 5% increase in G&A expenses. Marketing expenses are focused in q1 each year for large international trade shows 3% of revenue is allocated as allowance for loss We assume 25 days A/R comparing to 15 days sales in the normal business practice. We assume 90 days A/P, majority is feed cost. This credit term is the current rate that Ms.Noparath, PPPs CEO, used to get from her current supplier and PPP will use the same supplier.

Balance Sheet Assumptions

Page 5

A: Projected Income Statement

Unit: USD000
1000 Revenue Cost of Goods Sold Prawns buy back Food & prawn baby (financed) Direct Labor Depreciation Gross Margin Selling & Administration Wages & salaries Research & development Advertising & promotion Sales expense (Staff farm) Legal fee Transport & Delivery /Kg Rent for hatchery & nursery Rent for office Insurance Allowance for loss Depreciation Amortization Other Net Income Before Tax Income Tax Net Income Jan 5 7 12 (12) Feb 5 7 12 (12) Mar 5 7 12 (12) Apr 296 122 55 5 7 190 107 36% 27 6 3 0.28 1 3 1 0.4 9 2 8 8 69 38 (11) 26 Projected Income Statement for Year 2008 May Jun Jul Aug 296 444 444 741 122 55 5 7 190 107 36% 27 6 0.28 1 3 1 0.4 9 2 8 8 66 40 (12) 28 183 83 6 7 278 166 37% 27 6 0.28 2 3 1 0.4 13 2 8 8 71 95 (28) 66 183 83 6 7 278 166 37% 27 6 0.28 2 4 1 0.4 13 2 8 8 72 94 (28) 66 305 138 6 7 456 285 38% 27 6 0.28 3 4 1 0.4 22 2 8 8 82 202 (61) 142 Sep 741 305 138 6 7 456 285 38% 27 6 0.28 3 6 1 0.4 22 2 8 8 84 200 (60) 140 Oct 741 305 138 6 7 456 285 38% 27 6 3 0.28 3 6 1 0.4 22 2 8 8 87 198 (59) 138 Nov 741 305 138 6 7 456 285 38% 27 6 0.28 3 6 1 0.4 22 2 8 8 84 200 (60) 140 Dec 741 305 138 6 7 456 285 38% 27 6 0.28 3 6 1 0.4 22 2 8 8 84 200 (60) 140 Total 5,185 2,135 965 67 86 3,253 1,932 37% 326 67 6 3.33 21 49 17 5 156 19 100 100 868 1,065 (380) 684

27 6 0.28 2 1 0.4 2 8 8 55 (68) (68)

27 6 0.28 2 1 0.4 2 8 8 55 (68) (68)

27 6 0.28 2 1 0.4 2 8 8 55 (68) (68)

Projected Income Statement Revenue Cost of Goods Sold Prawns buy back Food & prawn baby (financed) Direct Labor Depreciation Gross Margin Selling & Administration Wages & salaries Research & development Advertising & promotion (trade show Sales expense (Staff farm expense Legal fee Transport & Delivery /Kg Rent for hatchery & nursery Rent for office Insurance Allowance for loss Depreciation Amortization Other Net Income Before Tax Income Tax Net Income Q1 2,333 982 414 19 22 1,436 897 38% 90 42 139 1 4 9 25 4 1 70 7 25 25 443 454 (136) 318 Q2 3,267 1,375 579 22 22 1,997 1,270 39% 90 42 3 2 6 13 31 4 1 98 7 25 25 347 923 (277) 646

Year 2009 Q3 3,578 1,506 634 22 22 2,183 1,394 39% 90 42 3 2 7 14 35 4 1 107 7 25 25 362 1,033 (310) 723

Q4 4,200 1,767 744 23 22 2,556 1,644 39% 90 42 3 2 8 16 38 4 1 126 7 25 25 388 1,256 (377) 879

Total 13,378 5,629 2,371 86 86 8,172 5,205 39% 361 167 147 6 25 51 128 18 5 401 29 100 100 1,540 3,665 (1,100) 2,566

Q1 5,390 2,314 910 25 24 3,273 2,117 39% 95 53 139 2 10 20 44 5 1 162 10 25 25 590 1,527 (458) 1,069

Q2 6,043 2,595 1,020 26 24 3,665 2,378 39% 95 53 3 2 11 22 51 5 1 181 10 25 25 483 1,894 (568) 1,326

Year 2010 Q3 6,697 2,875 1,130 28 24 4,057 2,639 39% 95 53 3 3 12 24 55 5 1 201 10 25 25 511 2,128 (638) 1,490

Q4 7,350 3,156 1,241 29 24 4,449 2,901 39% 95 53 3 3 13 27 59 5 1 221 10 25 25 538 2,363 (709) 1,654

Total 25,480 10,939 4,301 107 97 15,445 10,035 39% 379 212 147 9 46 93 208 18 5 764 39 100 100 2,123 7,913 (2,374) 5,539

Year 2011 Year 2012 39,102 17,105 6,286 134 106 23,631 15,471 40% 424 272 147 13 68 136 285 19 5 1,173 49 100 2,691 12,780 (3,834) 8,946 52,942 23,570 8,106 157 106 31,939 21,003 40% 445 359 147 17 87 176 365 20 5 1,588 49 100 3,357 17,646 (5,294) 12,352

Page 6

B: Projected Balance Sheet

Unit: USD000

1000
Current Assets Cash Accounts Receivable Inventory Raw materials Work in process Finished goods

Year 2007* 520 520

Year 2008 1,453 617 220 44 15 2,350

Year 2009 4,560 1,167 448 53 28 6,256

Year 2010 11,001 2,042 686 68 49 13,847

Year 2011 21,072 2,715 776 79 66 24,708

Year 2012 34,434 3,677 1,001 90 89 39,291

Non-Current Assets Factory equipment -cost Accumulated depreciation Administrative equipment -cost Accumulated depreciation Pre-operating costs Accumulated amortization

500 500 100 100 300 300 900

500 (86) 414 100 (19) 81 300 (100) 200 695 3,045 580 380 960 1,100 300 684 2,084 3,045

500 (172) 328 150 (49) 101 300 (200) 100 529 6,786 1,036 1,100 2,136 1,100 300 3,250 4,650 6,786

555 (269) 286 194 (88) 105 300 (300) 391 14,238 1,676 2,374 4,049 1,100 300 8,789 10,189 14,238

642 (375) 267 257 (137) 120 300 (300) 388 25,095 2,126 3,834 5,960 1,100 300 17,735 19,135 25,095

642 (480) 162 257 (186) 71 300 (300) 233 39,524 2,742 5,294 8,036 1,100 300 30,088 31,488 39,524

TOTAL ASSETS Current Liabilities Accounts payable Taxes payable Shareholders' Equity New share capital Founders' share capital Retained Earnings

1,420 20 20 1,100 300 1,400 1,420

* Year 2007 is PPP's pre-operation.

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C: Projected Statement of Cash Flow

Unit: USD000

1000 Cash Flow from Operations Net Income Non-cash items Depreciation - CGS Depreciation - S&A Amortization Change in non-cash WC Accounts receivable Inventory Payable Total Cash Flow from Investing Pre-Operating Costs Factory equipment Administrative equipment Total Cash Flow from Financing Share Capital - Investor Share Capital - Owner Dividends Total TOTAL CASH FLOW Opening Cash Closing Cash

Year 2007 20.00 20.00 20.00

Jan (67.62) 7.17 1.61 8.33 17.11 (37.20) 59.86 22.66 (27.84) (27.84) 520.00 492.16

Feb (67.62) 7.17 1.61 8.33 17.11 (50.51) (50.51) 492.16 441.65

Mar (67.62) 7.17 1.61 8.33 17.11 (40.86) (40.86) (91.36) (91.36) 441.65 350.28

Apr 26.25 7.17 1.61 8.33 17.11 (123.46) (49.42) 218.04 45.16 88.52 88.52 350.28 438.81

May 28.20 7.17 1.61 8.33 17.11 (123.46) (20.43) 3.75 (140.13) (94.82) (94.82) 438.81 343.98

Projected Cash Flow for Year 2008 Jun Jul Aug Sep 66.21 7.17 1.61 8.33 17.11 (61.73) (25.04) 126.21 39.44 122.77 122.77 343.98 466.75 65.56 7.17 1.61 8.33 17.11 (61.73) (40.86) 30.88 (71.71) 10.97 10.97 466.75 477.72 141.74 7.17 1.61 8.33 17.11 (123.46) (49.42) 256.42 83.54 242.40 242.40 477.72 720.12 140.29 7.17 1.61 8.33 17.11 (123.46) (0.66) 65.68 (58.44) 98.97 98.97 720.12 819.08

Oct 138.35 7.17 1.61 8.33 17.11 67.63 67.63 223.09 223.09 819.08 1,042.17

Nov 140.29 7.17 1.61 8.33 17.11 51.79 51.79 209.20 209.20 1,042.17 1,251.37

Dec 140.29 7.17 1.61 8.33 17.11 (15.62) 60.13 44.50 201.91 201.91 1,251.37 1,453.28

Total 684.35 86.00 19.33 100.00 205.33 (617.28) (279.51) 940.39 43.60 933.28 933.28 520.00 1,453.28

(300.00) (500.00) (100.00) (900.00)

1,100.00 300.00 1,400.00 520.00 520.00

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C: Projected Statement of Cash Flow (continue)

Unit: USD000

Projected Cash Flow Cash Flow from Operations Net Income Non-cash items Depreciation - CGS Depreciation - S&A Amortization Change in non-cash WC Accounts receivable Inventory Payable Total Cash Flow from Investing Pre-Operating Costs Factory equipment Administrative equipment Total Cash Flow from Financing Share Capital - Investor Share Capital - Owner Dividends Total TOTAL CASH FLOW Opening Cash Closing Cash

Q1 318 22 7 25 54 (31) (28) 212 154 526 (50) (50) 476 1,453 1,929

Q2 646 22 7 25 54 (259) (51) 66 (245) 455 455 1,929 2,384

Year 2009 Q3 723 22 7 25 54 (130) (91) 514 293 1,070 1,070 2,384 3,454

Q4 879 22 7 25 54 (130) (80) 383 173 1,106 1,106 3,454 4,560

Total 2,566 86 29 100 215 (549) (250) 1,175 376 3,157 (50) (50) 3,107 1,453 4,560

Q1 1,069 24 10 25 59 (331) (16) (5) (352) 777 (55) (44) (99) 678 4,560 5,238

Q2 1,326 24 10 25 59 (272) (92) 359 (6) 1,379 1,379 5,238 6,618

Year 2010 Q3 1,490 24 10 25 59 (136) (92) 845 617 2,166 2,166 6,618 8,784

Q4 1,654 24 10 25 59 (136) (74) 715 505 2,218 2,218 8,784 11,001

Total 5,539 97 39 100 236 (875) (275) 1,914 764 6,539 (55) (44) (99) 6,441 4,560 11,001

Year 2011 Year 2012 8,946 106 49 154 (674) (117) 1,911 1,120 10,221 (87) (64) (151) 10,070 11,001 21,072 12,352 106 49 154 (961) (259) 2,076 856 13,363 13,363 21,072 34,434

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Appendix VIII: Gallery

Pond Preparation

How to feed the prawns

Harvesting

Prawns Transportation

Oxygen tank for prawns

Interview with the middleman

Sell the idea to farmers

Facility in Suphanburi

Equipment used in farm

Female Prawns

Male Prawns

Hatchery Pond

Packing Broodstock

Selling Broodstock

Hatchery facility

Page 10

Power Prawns Technology

1. 2. 3.

100% Male Virus Resistant Consistently Sized Prawns

POWER PRAWNS PRODUCER COMPANY

PPP will integrate and dominate the prawn farming industry to become a world leading Freshwater prawn supplier through cutting edge broodstock management and prawn farming technologies. We are dedicated to superior yields and continuous supply of quality Freshwater prawns through use of modern technology and farming practices.