Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 697

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 9B
Chunk 697
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 the Company performs the following five steps: (1) identify the contract with customer; (2) identify the performance obligations
in contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligation in the contract; and
(5) recognize revenues when (or as) the entity satisfies a performance obligation.

The Company recognizes revenue as a single performance
obligation when it transfers its products to customers, being when the goods are shipped and transfers to a buyer and when performance
obligation under contracted sales are completed.

Advertising and Promotion

All costs associated with advertising
and promoting the Company's goods and services are expensed in the year incurred.

     F-11 

Concentrations of Credit Risk

The Company's financial instruments
that are exposed to credit risk consist primarily of temporary cash investments and accounts receivable.

The Company maintains its cash balances at a large
financial institution. At times such balances may exceed federally insured limits. The Company has not experienced any losses in an account.
The Company believes it is not exposed to any significant credit risk on cash and had no balances in excess of the $250,000 FDIC limit
for the year ended December 31, 2024.

For the year ending December 31, 2024
and 2023, two and one customer accounted for 100% of total revenues earned.

The Company’s sole source of
expected future revenue consists of the sale of a single live product which requires substantial care.  Production risks such as
weather, disease and other factors could affect the Company’s ability to realize revenue from its inventory stock.

Subsequent Events

In preparing these consolidated financial
statements, the Company has evaluated events and transactions for potential recognition or disclosure through July 15, 2025, the date
the consolidated financial statements were issued.

Net Loss Per Share

Basic net loss per share is calculated
by dividing the net loss available to common stockholders by the weighted-average number of common shares outstanding during the period.
Diluted net loss per share is calculated by using the weighted-average number of common shares outstanding during the period increased
to include the number of additional shares of common stock that would have been outstanding if the dilutive potential shares of common
stock had been issued. The dilutive effect of the Company is reflected in diluted net loss per share by application of the treasury stock
method. The dilutive securities are excluded from the computation of diluted net loss per share when net loss is recorded for