Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 926

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 15
Chunk 926
---
809,581  
     1,794,449 
  
    Less: accumulated depreciation 
     (547,287) 
     (527,827) 
     (457,920)

     564,463  
     1,281,754  
     1,336,529 
  
    Land 
     126,243  
     6,126,243  
     6,126,243 

    Net property and equipment 
    $690,705  
    $7,407,997  
    $7,462,772 

Depreciation
expense for the year ended December 31, 2024 and 2023, totaled approximately $52,291
and $55,585. The
amount of depreciation expense in cost of goods sold or inventory totaled $0
and $52,626
for the years ended December 31, 2024 and 2023.

     F-13 

NOTE 6 –NOTES PAYABLE

Notes payable as of December 31, 2024
and December 31, 2023, consisted of the following:

    Schedule of notes payable 

    December 31,  
    December 31, 

    2024  
    2023 
  
    Note to an entity by the former owner of farm property, interest at 6.00%, due in monthly installments of $38,687 including interest, secured by real property, due in 2039 
    $–  
    $4,707,902 

    Promissory Note to 1800 Diagonal, a commercial lender, with a one-time interest of 13%, due in four installments beginning August 30, 2024, and a due in total by November 30, 2024, Original Discount 18,600 
     52,253  
     – 

    Promissory Note to 1800 Diagonal, a commercial lender, with a one-time interest of 13%, due in four installments beginning August 30, 2024, and a due in total by November 30, 2024, Original Discount 18,600 
     67,400  
     – 

    Secured Note to Arcadia Funding, LLC , a commercial Lender, accrued fixed interest at the rate of $12,500/ month, secured by real property,