Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 326

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 4
Chunk 326
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, 2024 and 2023.

    2024  
    2023 
  
    Held for Sale 

    Shrimp 
    $–  
    $187,006 
  
    Broodstock 
     210,000  
     4,025 
  
    Total Held for Sale 
     210,000  
     191,031 
  
    Broodstock - Restocking 
     20,830  
     56,362 

    Total inventory 
    $230,830  
    $247,393 

At December 31, 2024, approximately 4,415 animals
of broodstock will be used to populate our next harvest in 2025. The cost of the broodstock was reclassified to broodstock held for restocking
on a pro rata basis of cost per pound of the total biomass of shrimp held for sale. Subsequent costs will be allocated in accordance with
ASC 330-10-30.

Business Overview

Founded in 2017, we are a leading aquaculture company
that provides premium quality, farm-raised pacific white shrimp, 100% free of antibiotics and hormones, to the U.S. domestic seafood market.
We believe we are a leading aquaculture company due to Best Aquaculture Practices (“BAP”) guidelines,14
considering the rarity of the standards in the U.S. Although we are not currently in full compliance with BAP guidelines, we are working
towards full compliance. At the moment, we adhere to BAP guidelines as part of our operating and production model. Grown at our 1,880-acre
farm located in Rio Hondo, Texas, on the largest scale aquaculture farm in the U.S., our shrimp are meticulously raised to exceed in line
with industry best practices according to BAP guidelines15
using only authentic, sustainable practices. Within our controlled facility, each harvest is responsibly raised and cultivated onsite
with minimal ecological footprint, promising our customers a superior product developed from the highest standard of care.

We have and will continue to utilize superior genetic
linage broodstock for cultivation of own post larvae in our onsite genetics, maturation and hatchery facilities. These facilities allow
us to continually develop animals with increasing growth rates, lower mortality, and stronger disease resistance. We began formal production
runs in 2018 and to date have produced almost one million lbs. of shrimp for consumption.