Company: GRPS
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001683168-25-007573
Chunk: 27

Company: Trans American Aquaculture, Inc
Filing Date: 2025-10-15
Form: 10-Q
Item: Part I, Item 1
Chunk 27
---
 to preliminary 2023 data from the National Marine Fisheries Service, shrimp prices have dropped as much as 44% since
2022.3 Our business, prospects, revenues, profitability, and future growth are highly dependent upon the prices of and demand for shrimp.
Our ability to borrow and to obtain additional capital on attractive terms is also substantially dependent upon shrimp prices. These
prices have been and are likely to continue to be extremely volatile for seasonal, cyclical, and other reasons. Any substantial or extended
decline in the price of shrimp will have a material adverse effect on our 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

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