Company: GRPS
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001683168-25-007573
Chunk: 24

Company: Trans American Aquaculture, Inc
Filing Date: 2025-10-15
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 principal operations have commenced, but there has been no significant revenue therefrom. To date,
the Company’s activities since inception have consisted principally of acquiring property, equipment, and other operating assets,
raising capital, starting up production, recruiting and training personnel and raising capital.

The Company’s ability to continue as a
going concern is dependent on its ability to raise additional capital and implement its business plan as well as continuing to develop
its brood stock in order to fulfill recently signed contracts. The financial statements do not include any adjustments that might be
necessary if the business plan cannot be implemented or if additional capital cannot be raised, either of which could result in the Company
not being able to continue as a going concern.

The Company is in the process of raising additional
capital to support the completion of the developmental stage activities and ramp up ongoing full shrimp harvest cycles and establish
its customer base. Therefore, the Company’s activities are subject to significant risks and uncertainties, including failing to
secure additional funding to operationalize the Company’s current technology.

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Item 2. 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 used to prepare the
financial statements. We base our estimates on historical experiences and assumptions believed to be reasonable under current facts and
circumstances. Actual amounts and results could differ from these estimates made by management.

Accounting for Our Shrimp Inventory

Our inventory of shrimp is divided into shrimp
held for sale and broodstock shrimp