Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 68

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 1A
Chunk 68
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) a monthly account statement showing the market value of each
penny stock held in the customer’s account. In addition, the penny stock rules require that prior to a transaction in a penny stock
not otherwise exempt from those rules, the broker-dealer must make a special written determination that the penny stock is a suitable
investment for the purchaser and receive the purchaser’s written acknowledgment of the receipt of a risk disclosure statement, a
written agreement as to transactions involving penny stocks, and a signed and dated copy of a written suitability statement.

These disclosure requirements may have the effect
of reducing the trading activity for our Common Stock. Therefore, stockholders may have difficulty selling our securities.

 12 

Share Repurchases

During the quarter ended December 31, 2024, there
were no purchases made by or on behalf of the issuer or any “affiliated purchaser,” as defined in § 240.10b-18(a)(3)
of Regulation S-K of shares or other units of any class of our equity securities that are registered by us pursuant to section 12 of the
Exchange Act.

Equity Compensation Plan Information 

As of December 31, 2024, the Company had no securities
authorized for issuance under equity compensation plans either approved or not approved by the Company’s shareholders.

    ITEM 6.
    [RESERVED]

    ITEM 7.
    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This Management’s Discussion and Analysis
of Financial Condition and Results of Operations contain certain forward-looking statements. Historical results may not indicate future
performance. Our forward-looking statements reflect our current views about future events; are based on assumptions and are subject to
known and unknown risks and uncertainties that could cause actual results to differ materially from those contemplated by these statements.
We undertake no obligation to publicly update or revise any forward-looking statements, including any changes that might result from any
facts, events, or circumstances after the date hereof that may bear upon forward-looking statements. Furthermore, we cannot guarantee
future results, events, levels of activity, performance, or achievements.

Critical Accounting Policies

The following discussions are based upon our financial
statements and accompanying notes, which have been prepared in accordance with GAAP Financial Measures of the United States.

The preparation of these financial statements requires
management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses,
and related disclosures of contingencies. We continually evaluate the accounting policies and estimates