Company: GRPS
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001683168-25-007573
Chunk: 23

Company: Trans American Aquaculture, Inc
Filing Date: 2025-10-15
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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and $53,000, respectively.

In addition, pursuant to the March 2025 SPA,
the Company issued to GHS warrants to purchase 306,666,667 shares of Common Stock exercisable at $0.000115 per share and
terminating on March 28, 2030.

On April 2, 2025, GHS purchased 15 shares
of Series D Preferred Stock under the March 2025 SPA. 40,350,887 warrants were issued to GHS.

On June 18, 2025, GHS purchased 25 shares
of Series D Preferred Stock under the March 2025 SPA. 67,251,462 warrants were issued to GHS.

 16 

During the quarter ended
June 30, 2025, the Company recorded an adjustment related to the issuance of its Series C Preferred Stock. The adjustment reflects
$283,967 classified as Preferred Series C Stock Payable, representing the value of preferred shares authorized for issuance but not yet
physically issued.

On September 18, 2025, the Company entered into
a Securities Purchase Agreement with GHS (the “September 2025 SPA”) pursuant to which the Company agreed to sell GHS 63 shares
of Series D Preferred Stock for $60,000 ($1,000 for each share of Series D Preferred Stock and ten commitment shares). At the
initial closing, GHS purchased 19 shares ($1,000 per share of Series D Preferred Stock). Additional Closings will
be for the purchase of Preferred Shares as follows: (a) separate purchases of forty-four (44) of Preferred Stock for the purchase price
of $44,000.

In addition, pursuant to the September 2025 SPA,
the Company issued to GHS warrants to purchase 71,250,000 shares of Common Stock exercisable at $0.000345 per share and
terminating on September 18, 2030.

NOTE 10 – LITIGATION

From time to time the Company is involved in
lawsuits against the Company involving general liability or various contractual matters. In the opinion of the Company’s
management, the potential claims against the Company not covered by insurance resulting from such litigation will not materially affect
the financial position of the Company.

NOTE 11 - GOING CONCERN

The Company follows FASB ASU 2014-10 –
Development Stage Entities because its