Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0001683168-25-005208
Chunk: 16

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 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 of public shares the Company
has available for trading on the open market (excluding closely held and restricted stock), market conditions, the trading price of
the common stock, the number of shares outstanding, and the Company’s determinations as to the appropriate sources of funding
for the Company and its operations. The net proceeds under the EFA to the Company will depend on the frequency and prices at which
the Company sells shares of stock to GHS.

The Registration
Rights Agreement provides that the Company shall (i) use its best efforts to file with the SEC the Registration Statement within 60
calendar days of the date of the Registration Rights Agreement; and (ii) have the Registration Statement declared effective by the
SEC within 60 calendar days after the date the Registration Statement is filed with the SEC, but in no event more than calendar 120
days after the Registration Statement is filed.

The Company will use
the proceeds from the Puts for general corporate and working capital purposes and acquisitions or assets, businesses, or operations or
for purposes the Board of Directors deems to be in the best interests of the Company.

On February 27, 202