Company: GRPS
Filing Date: 2025-10-16
Form Type: 10-Q/A
Source: 0001683168-25-007611
Chunk: 10

Company: Trans American Aquaculture, Inc
Filing Date: 2025-10-16
Form: 10-Q/A
Chunk 10
---
 the March 2025 SPA. 40,350,887 warrants were issued to GHS.

On June 18, 2025, GHS purchased 25 shares
of Series D Preferred Stock under the March 2025 SPA. 67,251,462 warrants were issued to GHS.

On July 14, 2025, GHS purchased the remaining 28 shares
of Series D Preferred Stock under the March 2025 SPA. 75,321,638 warrants were issued to GHS.

On September 18, 2025, the Company entered into
a Securities Purchase Agreement with GHS (the “September 2025 SPA”) pursuant to which the Company agreed to sell GHS 63 shares
of Series D Preferred Stock for $60,000 ($1,000for each share of Series D Preferred Stock and ten commitment shares). At the
initial closing, GHS purchased 19 shares ($1,000 per share of Series D Preferred Stock). Additional Closings will
be for the purchase of Preferred Shares as follows: (a) separate purchases of 44 shares of Series D Preferred Stock for the purchase
price of $44,000.

In addition, pursuant to the September 2025 SPA,
the Company issued to GHS warrants to purchase 71,250,000 shares of Common Stock exercisable at $0.000345 per share and
terminating on September 18, 2030.

Net Loss Per Share

Basic net loss per share is calculated by dividing
the net loss available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted
net loss per share is calculated by using the weighted-average number of common shares outstanding during the period increased to include
the number of additional shares of common stock that would have been outstanding if the dilutive potential shares of common stock had
been issued. The dilutive effect of the Company is reflected in diluted net loss per share by application of the treasury stock method.
The dilutive securities are excluded from the computation of diluted net loss per share when net loss is recorded for the period as their
effect would be anti-dilutive.

NOTE 3 – ACCOUNTS RECEIVABLE

On December 11, 2023,
the Company entered into an accounts receivable factoring agreement in the amount of $750,000. The agreement calls for 80% with
recourse financing on eligible receivables. The amount received for the factored receivables on February