Company: GRPS
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001683168-25-007573
Chunk: 40

Company: Trans American Aquaculture, Inc
Filing Date: 2025-10-15
Form: 10-Q
Item: Part I, Item 2
Chunk 40
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. As of June 30, 2025, our current liabilities exceeded
its current assets by $4,350,706. As of June 30, 2025, we had $198 cash. During the year ended December 31, 2024, we reported a net loss
of $2,808,894. As of December 31, 2024, our current liabilities exceeded our current assets by $3,351,602. As of December 31, 2024, we
had $0 cash.

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1 https://www.bapcertification.org/Downloadables/pdf/BAP%20-%20BAP%20Farm%20Standard%20-%20Issue%203.1%20-%2007-February-2023.pdf

2
https://www.bapcertification.org/Downloadables/pdf/BAP%20-%20BAP%20Farm%20Standard%20-%20Issue%203.1%20-%2007-February-2023.pdf

3 https://civileats.com/2023/06/20/cheap-imports-leave-us-shrimpers-struggling-to-compete/#:~:text=The%20U.S.%20Food%20and%20Drug,before%20entering%20the%20U.S.%20market

 19 

We will require additional funding to finance
the growth of our operations and achieve our strategic objectives. These factors, as relative to capital raising activities, create doubt
as to our ability to continue as a going concern. We are seeking to raise additional capital and are targeting strategic partners to
accelerate the sales and marketing of our products and begin generating revenues. Our ability to continue as a going concern is dependent
upon the success of future capital offerings or alternative financing arrangements, expansion of our operations and generating sales.
The accompanying financial statements do not include any adjustments that might be necessary should we be unable to continue as a going
concern. Management is actively pursuing additional sources of financing sufficient to generate enough cash flow to fund its operations;
however, management cannot make any assurances that such financing will be secured.

Results of Operations for the Three-Months Ended
June 30, 2025 and 2024

Revenues

For the three-months ended June 30, 2025, total
revenues were $0 compared to $5,019 for the same period in 2024, a decrease of $5,019 or