Company: GRPS
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001683168-25-007573
Chunk: 20

Company: Trans American Aquaculture, Inc
Filing Date: 2025-10-15
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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the “Registration
Rights Agreement”) with GHS Investments, LLC, pursuant to which GHS agreed to purchase up to $10,000,000 in shares of the Company
common stock, from time to time over the course of 24 months after effectiveness of a registration statement on Form S-1 of the underlying
shares of the Company’s common stock.

The EFA grants the Company
the right, to direct GHS to purchase shares of the Company’s common stock on any business day (a “Put”), provided that
at least ten trading days (as defined in the EFA) have passed since the closing of the most recent Put. The purchase price of the shares
of common stock contained in a Put shall be 80% of the lowest traded price of the Company common stock during the ten consecutive Trading
Days preceding the date of the Put notice. In the event The Company up lists to Nasdaq or an equivalent national exchange, the purchase
price will be 90%. No Put will be made in an amount less than $5,000 or greater than $500,000 and any single drawdown may not exceed
200% of the average daily trading dollar volume of the Company’s common stock during the ten trading days preceding the Put. In
no event is the Company entitled to make a Put or is GHS entitled to purchase and own cumulative shares greater than 4.99% of the Company’s
shares of common stock outstanding on such date.

The EFA will terminate
upon any of the following events: when GHS has purchased an aggregate of $10,000,000 in the common stock of the Company pursuant to the
EFA; or on the date that is 24 months from the date of the EFA.

Actual sales of shares
of common stock to GHS under the EFA will depend on a variety of factors, including, the number of public shares the Company has available
for trading on the open market (excluding closely held and restricted stock), market conditions, the trading price of the common stock,
the number of shares outstanding, and the Company’s determinations as to the appropriate sources of funding for the Company and
its operations. The net proceeds under the EFA to the Company will depend on the frequency and prices at which the Company sells shares
of stock to GHS.

The Registration Rights
Agreement provides that the Company shall (i) use its best efforts to file with the SEC the Registration Statement within 60 calendar
days of the date of the Registration