Company: GRPS
Filing Date: 2025-10-16
Form Type: 10-Q/A
Source: 0001683168-25-007611
Chunk: 27

Company: Trans American Aquaculture, Inc
Filing Date: 2025-10-16
Form: 10-Q/A
Chunk 27
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 be unable to continue as a going
concern. Management is actively pursuing additional sources of financing sufficient to generate enough cash flow to fund its operations;
however, management cannot make any assurances that such financing will be secured.

Results of Operations for the Three-Months Ended
June 30, 2025 and 2024

Revenues

For the three-months ended June 30, 2025, total
revenues were $0 compared to $5,019 for the same period in 2024, a decrease of $5,019 or 100%. This decrease was related to the company
not having shrimp for sale and only maintaining the broodstock for future genetic development and stocking.

Cost of Goods Sold and Gross Profit

For the three-months ended June 30, 2025, cost
of goods sold was $0 compared to $1,771 for the same period in 2024, a decrease of $1,771 or 100%. This was the result of not producing
and harvesting or selling shrimp during the current three months ended June 30, 2025.

The gross profit for the three-months ended June
30, 2025 was $0 for an operating profit of $0 compared to a gross profit margin of $3,248 for the same period in 2024.

Operating Expenses

General and administrative expenses for three-months
ended June 30, 2025 decreased by $18,703, or 15%, to $108,290 from $126,993 for the three-months ended June 30, 2024. This decrease in
expenses resulted from lower legal and professional fees and accrued payroll wages.

Other Income (Expense)

For the three-months ended June 30, 2025, we had
interest expenses of $88,246 compared to interest expenses of $141,238 for the same period in 2024, a decrease in interest expense of
$52,992. This decrease in interest expense was due primarily to reduction in interest related to the farm note.

Net Income (Loss)

As a result of the above, we reported a net loss
of $204,038 for the three-months ended June 30, 2025 compared to a net loss of $330,311 for the three-months ended June 30, 2024.

Results of Operations for the Six-Months Ended
June 30, 2025 and 2024

Revenues

For the six-month