Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 395

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 5
Chunk 395
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 Financial Statements
    F-8

 29 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM

To the shareholders and the board of directors
of

Trans American Aquaculture, Inc.

(formerly Gold River Production, Inc)

Opinion on the Financial Statements

We have audited the accompanying consolidated
balance sheets of Trans American Aquaculture, Inc. as of December 31, 2024, and the related consolidated statements of operations, stockholders’
equity, and cash flows for the year ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”).
In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of
the Company as of December 31, 2024, and the results of its operations and its cash flows for the year ended December 31, 2024, in conformity
with accounting principles generally accepted in the United States of America.

Going Concern

The accompanying consolidated financial statements
have been prepared assuming the Company will continue as a going concern as disclosed in Note 11 to the financial statement, the Company
incurred a net loss of $(2,808,894) and an accumulated deficit of $(5,675,567). The continuation of the Company as a going
concern is dependent upon ability to raise additional capital and implement its business plan. Management believes the existing shareholders
or external fund providers will provide the additional cash to meet the Company’s obligations as they become due.

These factors raise substantial doubt about the
Company ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome
of the uncertainty.

Basis for Opinion

These financial statements are the responsibility
of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our
audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement, whether due to error or fraud. The Company is not required to have,