Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 322

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 4
Chunk 322
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 transactions based
on financial situation, investment experience and objectives. Broker-dealers must also disclose these restrictions in writing, provide
monthly account statements to customers, and obtain specific written consent of each customer. With these restrictions, the likely effect
of designation as a penny stock is to decrease the willingness of broker-dealers to make a market for the stock, to decrease the liquidity
of the stock and increase the transaction cost of sales and purchases of these stocks compared to other securities.

Approximate Number of Equity Security Holders

As of July 15, 2025, there were approximately 3,818
stockholders of record. Because shares of our Common Stock are held by depositaries, brokers and other nominees, the number of beneficial
holders of our shares is substantially larger than the number of stockholders of record.

 11 

Dividends

Besides dividends owed to the holder of the Series
D Preferred Stock, we have not declared or paid a cash dividend to our stockholders since we were organized and does not intend to pay
dividends in the foreseeable future. Our board of directors presently intends to retain any earnings to finance our operations and does
not expect to authorize cash dividends in the foreseeable future. Any payment of cash dividends in the future will depend upon our earnings,
capital requirements and other factors.

Section 15(g) of the Securities Exchange Act of 1934

Our shares are covered by section 15(g) of the Exchange
Act that imposes additional sales practice requirements on broker/dealers who sell such securities to persons other than established customers
and accredited investors (generally institutions with assets in excess of $5,000,000 or individuals with net worth more than $1,000,000
or annual income exceeding $200,000, or $300,000 jointly with their spouses). For transactions covered by the Rule, the broker/dealer
must make a special suitability determination for the purchase and have received the purchaser's written agreement to the transaction
prior to the sale. Consequently, the Rule may affect the ability of broker/dealers to sell our securities and may affect your ability
to sell your shares in the secondary market.

Section 15(g) also imposes additional sales practice
requirements on broker/dealers who sell penny securities. These rules require a one-page summary of certain essential items. The items
include the risk of investing in penny stocks in both public offerings and secondary marketing; terms important to in understanding of
the function of the penny stock market, such as bid and offer