Company: GRPS
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001683168-25-007573
Chunk: 15

Company: Trans American Aquaculture, Inc
Filing Date: 2025-10-15
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 Discount 18,600 
     52,253  
     93,000 

    Promissory Note to 1800 Diagonal, a commercial lender, with a one-time interest of 13%, due in four installments beginning August 30, 2024, and a due in total by November 30, 2024, Original Discount 18,600 
     67,400  
     – 

    Secured Note to Arcadia Funding, LLC , a commercial Lender, accrued fixed interest at the rate of $12,500/ month, secured by real property, due December 16, 2024 
     350,000  
     – 

    Note to a bank, interest at 3.75%, due in monthly installments of $719.02 including interest, secured by real property, due in 2050 
     146,875  
     148,404 

     616,528  
     4,949,306 
  
    Less Current Portion 
     (673,722) 
     (562,063)

    Net Long-Term Debt 
    $(57,194) 
    $4,387,243 

 12 

The estimated notes payable maturities as of June 30, 2025 are as
follows:

    Schedule of estimated notes payable maturities 

    31-Dec-24 
    $673,722 
  
    31-Dec-25 
     – 
  
    31-Dec-26 
     – 
  
    30-Dec-27 
     – 
  
    31-Dec-28 
     – 
  
    Thereafter 
     – 

    Total notes payable 
    $673,722 

In February 2024, the Company signed an unsecured
promissory note with a lender for $111,600, bearing one-time interest at the rate of 13%, and maturing on four dates beginning
on August 2024 and ending on November 2024. The proceeds of this note were issued with an original issue discount of $18,600, yielding
net proceeds of $93,000. Upon full maturity, the Company will have paid a total of $126,108 of principal and interest on this note.

In May 2024, the Company signed a Secured Promissory
Note with a lender