Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0001683168-25-005208
Chunk: 5

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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    Preferred series D stock dividends 
    $–  
    $21,779 
  
    Common stock issued for services rendered 
    $–  
    $21,118 
  
    Capitalization of related party member notes to members’ capital 
    $–  
    $– 

The accompanying notes are an integral part of these consolidated financial statements.

 6 

Trans
American Aquaculture, Inc.

(Formerly
Gold River Productions, Inc.)

Notes
to Consolidated Financial Statements

March
31, 2025 and 2025

NOTE 1 – BUSINESS ORGANIZATION

Business Organization

Trans American Aquaculture, Inc. formerly Gold
River Productions, Inc. (GRP), (“the Company”) was incorporated in the State of Delaware on September 18, 2006, as Polythene
Metro Corp before being acquired by Gold River Productions, Inc. on January 25, 2007. The Company was re-incorporated in the State of
Colorado in July 2018. In February 2023, pursuant to shareholder and Board approval, the Company changed its name to Trans American Aquaculture,
Inc., reflective of its new management and operations, and applied to the Financial Industry Regulatory Authority (“FINRA”)
to change its ticker symbol from GRPS to TAAQ.

On August 28, 2022, Richard Goulding, executive
and selling party of Gold River Productions, Inc. and Adam Thomas, purchaser, executed a Stock Purchase Agreement (“SPA”). 
Under the terms of the SPA, Mr.  Goulding, agreed to sell to Adam Thomas, CEO of TAA, 9,078,000 shares of the Company’s Series
A Preferred Stock, and to retain 640,000 shares for later conversion to the Company’s common stock.  Each share of Series A
Preferred Stock is convertible into 100 shares of the Company’s common stock.  In addition, Mr. Thomas agreed to purchase all
the Company’s outstanding shares of Series B Preferred Stock from Mr. Goulding for a cash payment of $5,000.

In further consideration for the sale of
the shares of Series A and Series B Preferred Stock, Mr. Goulding agreed to:

1.
Increase the authorized shares of the Company’s common stock to three billion (3,000,000,000) shares;

2.
Convert his retained 640,000 shares of Series A Preferred Stock, to 64,000,000 shares of