Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 512

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 7
Chunk 512
---

  
    State 
     –  
     –  
     – 

    $–  
    $–  
    $– 

    Deferred income tax expense (benefit) 
    $–  
    $(26,937) 
    $26,937 

     F-16 

NOTE 9 – EQUITY FINANCING AND SECURITIES PURCHASE
AGREEMENT

Equity
Financing Agreement

On January
20, 2023, the Company entered into an Equity Financing Agreement (“the EFA”) and Registration Rights Agreement (the “Registration
Rights Agreement”) with GHS Investments, LLC, pursuant to which GHS agreed to purchase up to $10,000,000 in shares of the Company
common stock, from time to time over the course of 24 months after effectiveness of a registration statement on Form S-1 of the underlying
shares of the Company’s common stock.

The EFA grants
the Company the right, to direct GHS to purchase shares of the Company’s common stock on any business day (a “Put”),
provided that at least ten trading days (as defined in the EFA) have passed since the closing of the most recent Put. The purchase price
of the shares of common stock contained in a Put shall be 80% of the lowest traded price of the Company common stock during the ten consecutive

Trading Days
preceding the date of the Put notice. In the event The Company up lists to Nasdaq or an equivalent national exchange, the purchase price
will be 90%. No Put will be made in an amount less than $10,000 or greater than $500,000 and any single drawdown may not exceed 200% of
the average daily trading dollar volume of the Company’s common stock during the ten trading days preceding the Put. In no event
is the Company entitled to make a Put or is GHS entitled to purchase and own cumulative shares greater than 4.99% of the Company’s
shares of common stock outstanding on such date.

The EFA will
terminate upon any of the following events: when GHS has purchased an aggregate of $10,000,000 in the common stock of the Company pursuant
to the EFA; or on the date that is 24 months from the date of the EFA.

Actual sales
of shares of common stock to GHS under the EFA will depend on a variety of factors, including, the number