Company: GRPS
Filing Date: 2025-10-16
Form Type: 10-Q/A
Source: 0001683168-25-007611
Chunk: 26

Company: Trans American Aquaculture, Inc
Filing Date: 2025-10-16
Form: 10-Q/A
Chunk 26
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 financing capacity and our prospects for commencing and sustaining
any economic commercial 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.

Going Concern Uncertainty

As shown in the accompanying financial statements,
during the three-months ended June 30, 2025, we reported a net loss of $204,038. As of June 30, 2025, our current liabilities exceeded
its current assets by $4,350,706. As of June 30, 2025, we had $198 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.

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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

3 https://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

| 20 |

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