Company: GRPS
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001683168-25-007573
Chunk: 19

Company: Trans American Aquaculture, Inc
Filing Date: 2025-10-15
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 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.

 14 

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 to GHS at a purchase price of $0.00224 under the EFA for net proceeds
of $2,106.

On May 29, 2024, the
Company put 11,683,300 shares of common stock to GHS at the purchase price of $.0012 under EFA for net proceeds of $12,715.

On July 30, 2025, the
Company entered into an Equity Financing Agreement (“the EFA”) and Registration Rights Agreement (