Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 215

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 1C
Chunk 215
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 closing of the most recent Put. The purchase price
of the shares of common stock contained in a Put shall be 80% of the lowest traded price of the Company common stock during the ten consecutive

Trading Days
preceding the date of the Put notice. In the event The Company up lists to Nasdaq or an equivalent national exchange, the purchase price
will be 90%. No Put will be made in an amount less than $10,000 or greater than $500,000 and any single drawdown may not exceed 200% of
the average daily trading dollar volume of the Company’s common stock during the ten trading days preceding the Put. In no event
is the Company entitled to make a Put or is GHS entitled to purchase and own cumulative shares greater than 4.99% of the Company’s
shares of common stock outstanding on such date.

The EFA will
terminate upon any of the following events: when GHS has purchased an aggregate of $10,000,000 in the common stock of the Company pursuant
to the EFA; or on the date that is 24 months from the date of the EFA.

Actual sales
of shares of common stock to GHS under the EFA will depend on a variety of factors, including, the number of public shares the Company
has available for trading on the open market (excluding closely held and restricted stock), market conditions, the trading price of the
common stock, the number of

shares outstanding,
and the Company’s determinations as to the appropriate sources of funding for the Company and its operations. The net proceeds under
the EFA to the Company will depend on the frequency and prices at which the Company sells shares of stock to GHS.

The
Registration Rights Agreement provides that the Company shall (i) use its best efforts to file with the SEC the Registration
Statement within 60 calendar days of the date of the Registration Rights Agreement; and (ii) have the Registration Statement
declared effective by the SEC within 60 calendar days after the date the Registration Statement is filed with the SEC, but in no
event more than calendar 120 days after the Registration Statement is filed.

The Company
will use the proceeds from the Puts for general corporate and working capital purposes and acquisitions or assets, businesses, or operations
or for purposes the Board of Directors deems to be in the best interests of the Company.

On February
27, 2024, the Company put 4,615,277 shares of common stock