Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 3

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 1
Chunk 3
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 operated on. On December 2, 2024, Kings Aqua Farm LLC filed a Deed in Lieu (“DIL”) of Foreclosure due to non-payment
by Trans American Aquaculture. The land was conveyed back to Kings Aqua Farm because of the DIL filing. Over the next two weeks, various
threats were made by Kings Aqua Farm on the assets of TAA, which are paramount to the survival and future of the company. To protect those
key assets and any future business, TAA elected to file a voluntary Chapter 11 Bankruptcy.

The bankruptcy
plan is currently being finalized between TAA management, its board of directors, and legal counsel. The plan confirmation hearing is
scheduled for August 18, 2025, at which time, we will present the re-organization plan for the company.

Currently,
there are no production operations being conducted at the farm. We are solely maintaining the broodstock as plans to exit bankruptcy are
finalized. 

Our Business

We provide extra-large farm-raised Pacific white shrimp,
100% free of antibiotics and hormones, to the U.S. domestic seafood market. Grown on an 1,880 acre farm located in Rio Hondo, Texas, our
shrimp are meticulously raised in line with industry best practices according to the Best Aquaculture Practices (BAP) farm guidelines1
using only authentic, sustainable practices. We believe our practices are “authentic” and “sustainable” because
we do not discharge our water into the local environment thus there is no ecological impact to the surrounding areas. We use only the
top-quality ingredients in our feed to ensure our animals are getting a proper and healthy diet. We never use antibiotics or chemicals,
and we have proper working and living conditions for our workers, which have been approved by Texas Parks and Wildlife.

We believe our products are superior due to the following:

    ·
    Our feed ingredients are sourced 100% from products from the U.S., which are rigorously inspected and tested and must meet USDA standards. Foreign competitors are under the administrative oversight of their local governments.

    ·
    We are transparent in our production process meaning we are willing and able to provide all ingredients, treatments, and processes utilized to cultivate our shrimp.

    ·
    Our products are eco-friendly in that our farm does not discharge into the environment. Our system is 100% closed and has zero impact to the local ecosystem and mangroves.

    ·
    Our products