Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 1

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 1
Chunk 1
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 Preferred Stock for 12 months;

    ·
    at closing, increase the authorized shares of common stock of the Company to 3,000,000,000;

    ·
    immediately prior to closing, Mr. Goulding will convert his remaining, unacquired, 640,000 shares of Series A Preferred Stock into 64,000,000 shares of Common Stock of the Company;

 1 

    ·
    take reasonable steps to cause the similar conversion of the other outstanding shares of the Company’s Series A Preferred Stock, by the holders thereof;

    ·
    enter into the Assumption Agreement (as defined below);

    ·
    issue an aggregate of 15,248,503 shares of previously-earned Common Stock of the Company to the following individuals:

    o
    Scott Fetterman (748,503 shares);

    o
    Stephen Swinson (4,000,000 shares);

    o
    John Patrick Love (4,000,000 shares);

    o
    John Ohlin (1,500,000 shares); and

    o
    David Eckert (5,000,000 shares).

In addition, each of the parties to the SPA covenanted
that, within nine months of closing, to reasonably cooperate in the process of forming a new company to be formed by Mr. Goulding (“Newco”)
and issuing not less than 35% of the shares of Newco, calculated fully diluted, pro rata, to the shareholders of the Company (including
those holding in street name, through DTCC) as then existed, to once again attempt to become a separate public company (the “Makeup”
or the “Makeup Company”), without dilution to the shareholders of the Company, by issuance of shares of the Newco to
the existing shareholders of the Company. All parties to the SPA agreed to reasonably cooperate and work jointly, including providing
all documentation when necessary, and upon request, to enable the Makeup Company to file with FINRA and the SEC in accordance with the
reasonable desires of Mr. Goulding. The costs of the Makeup are to be borne by the Newco. Until the Makeup, the Makeup Company will operate
as a separate entity, with Mr. Goulding maintaining operational autonomy and checkbook control under his sole control and authority, without
interference by Mr. Thomas. There is no assurance that the Makeup Company will be formed or that the Company’s shareholders as then
existed at the time of