Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0001683168-25-005208
Chunk: 22

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 production. In addition, increased availability of imported shrimp can affect our business by lowering commodity prices.
This could reduce the value of inventories, held both by us and by our customers, and cause many of our customers to reduce their orders
for new products until they can dispose of their higher-cost inventories.

_______________

1 https://www.bapcertification.org/Downloadables/pdf/BAP%20-%20BAP%20Farm%20Standard%20-%20Issue%203.1%20-%2007-February-2023.pdf

2 https://www.bapcertification.org/Downloadables/pdf/BAP%20-%20BAP%20Farm%20Standard%20-%20Issue%203.1%20-%2007-February-2023.pdf

3https://civileats.com/2023/06/20/cheap-imports-leave-us-shrimpers-struggling-to-compete/#:~:text=The%20U.S.%20Food%20and%20Drug,before%20entering%20the%20U.S.%20market

 17 

Going Concern Uncertainty

As shown in the accompanying financial statements,
during the three-months ended March 31, 2025, we reported a net loss of $113,707. As of March 31, 2025, our current liabilities exceeded
its current assets by $3,435,668. As of March 31, 2025, we had $6,694 cash. During the year ended December 31, 2024, we reported a net
loss of $$2,808,894. As of December 31, 2024, our current liabilities exceeded our current assets by $3,351,602. As of December 31, 2024,
we had $0 cash.

We will require additional funding to finance
the growth of our operations and achieve our strategic objectives. These factors, as relative to capital raising activities, create doubt
as to our ability to continue as a going concern. We are seeking to raise additional capital and are targeting strategic partners to accelerate
the sales and marketing of our products and begin generating revenues. Our ability to continue as a going concern is dependent upon the
success of future capital offerings or alternative financing arrangements, expansion of our operations and generating sales. The accompanying
financial statements do not include any adjustments that might be necessary should we be unable to continue as a going concern. Management
is actively pursuing additional