Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 475

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 7
Chunk 475
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 in connection with the Deed in Lieu of Foreclosure and resulting settlement of the debt
and recognition of the expense.

By comparison, during the year ended December 31,
2023, net cash used in operating activities was $1,107,912, an increase usage of $602,009 resulting largely from $1,894,993 in net operating
loss and an increase of $85,833 in inventory due to a build in preparation for our annual harvest, offset by an increases in accounts
payable and accrued expenses of $387,549 in connection with our harvest preparation and accrued interest expense of $342,395 due mainly
to falling into arrears on the note payable covering our farm property and increased interest expense on notes payable to shareholders,
and an increase of $100,000 in common stock issued for consulting services.

Cash Flows from Investing Activities

During the year ended December 31, 2024, we had $6,717,292
net cash used in investing activities. During the year ended December 31, 2023, we had $15,132 net cash used in investing activities.
The difference was in removal of the farm note and land improvements related to the Deed in Lieu of Foreclosure.

Cash Flows from Financing Activities

During the year ended December 31, 2024, net cash
provided by financing activities was $4,774,987 which was mainly comprised of which was mainly comprised of debt extinguishment of the
farm note due to the deed in Lieu of Foreclosure. During the year ended December 31, 2023, net cash provided by financing activities was
$1,129,644 which was mainly comprised of purchases of Series D Preferred Stock of $1,028,000 by GHS, additional borrowings from our shareholders
of $255,227, offset by $103,266 of payments to shareholder noteholders.

Factors That May Affect Future Results

Management’s Discussion and Analysis contains
information based on management’s beliefs and forward-looking statements that involve several risks, uncertainties, and assumptions.
There can be no assurance that actual results will not differ materially from the forward-looking statements as a result of various factors,
including but not limited to, our ability to obtain the equity/debt funding or borrowings necessary to produce, market and launch our
products, our ability to successfully serially produce and market our products; our success establishing and maintaining production lines;
the acceptance of our products by customers; our continued ability to