Trans American Aquaculture Files 10-Q for Q1 2024

TL;DR

TAQA filed its Q1 2024 10-Q. Looks like they're still in the fish farming biz.

AI Summary

Trans American Aquaculture, Inc. filed its 10-Q for the period ending March 31, 2024. The filing details the company's financial position and operations. Specific financial figures and operational details are not extensively provided in this header information, but it indicates the company is in the agriculture production sector, specifically livestock and animal specialties.

Why It Matters

This filing provides investors and stakeholders with an update on Trans American Aquaculture's financial health and operational status for the first quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine 10-Q filing with limited specific financial or operational risk disclosures in the provided header.

Key Numbers

• 0200 — SIC Code (Standard Industrial Classification for Agriculture Production - Livestock & Animal Specialties)

Key Players & Entities

• Trans American Aquaculture, Inc. (company) — Filer of the 10-Q
• 0001990446 (company) — Central Index Key for Trans American Aquaculture, Inc.
• 20240331 (date) — End of the reporting period
• 20240715 (date) — Filing date

FAQ

Key Financial Figures

• $0.000001 — hares of the registrant's common stock, $0.000001 par value per share, outstanding as of
• $5,000 — from Mr. Goulding for a cash payment of $5,000. In further consideration for the sale
• $5,600,000 — 017 in the original principal amount of $5,600,000, and the Deed of Trust executed by the

Filing Documents

• transaqua_i10q-033124.htm (10-Q) — 520KB
• transaqua_ex3101.htm (EX-31.1) — 10KB
• transaqua_ex3102.htm (EX-31.2) — 10KB
• transaqua_ex3201.htm (EX-32.1) — 3KB
• transaqua_ex3202.htm (EX-32.2) — 3KB
• 0001683168-24-004837.txt ( ) — 3235KB
• grps-20240331.xsd (EX-101.SCH) — 29KB
• grps-20240331_cal.xml (EX-101.CAL) — 39KB
• grps-20240331_def.xml (EX-101.DEF) — 114KB
• grps-20240331_lab.xml (EX-101.LAB) — 258KB
• grps-20240331_pre.xml (EX-101.PRE) — 215KB
• transaqua_i10q-033124_htm.xml (XML) — 344KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements 3 Consolidated Balance Sheets 3 Consolidated Statements of Operations 4 Consolidated Statements of Changes in Stockholders' Deficit 5 Consolidated Statements of Cash Flows 6 Notes to the Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 17

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 22

Controls and Procedures

Item 4. Controls and Procedures 22

—OTHER INFORMATION

PART II—OTHER INFORMATION 23

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23

Other Information

Item 5. Other Information 23

Exhibits

Item 6. Exhibits 23

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Trans American Aquaculture, Inc. (Formerly Gold River Productions, Inc.) Consolidated Balance Sheets Unaudited Unaudited March 31, March 31, 2024 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 0 $ 31,480 Receivable from factor 55,199 49,896 Inventory 208,808 297,894 Other current assets 293 0 TOTAL CURRENT ASSETS 264,300 379,269 PROPERTY AND EQUIPMENT 7,948,041 7,935,825 Less accumulated depreciation ( 545,522 ) ( 478,552 ) NET PROPERTY AND EQUIPMENT 7,402,518 7,457,273 TOTAL ASSETS $ 7,666,818 $ 7,836,542 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Overdraft $ 2,062 $ 0 Accounts payable 504,671 313,988 Accrued interest expense 915,403 43,736 Other accrued expenses 386,270 534,432 Income tax payable 0 49,896 Due to related parties 1,629,138 1,555,416 Current portion of notes payable 619,826 415,300 TOTAL CURRENT LIABILITIES 4,057,370 2,912,768 LONG-TERM LIABILITIES Notes payable, net of current portion 4,329,480 4,467,694 TOTAL LONG-TERM LIABILITIES 4,329,480 4,467,694 STOCKHOLDERS' EQUITY Common stock, $ .000001 par value, 3,000,000,000 shares authorized, 1,460,270,805 and 1,452,655,528 shares issued and outstanding 23 20 Preferred Stock, Series A, .000001 par value 9,078,000 and 9,078,000 shares authorized, 9,078,000 issued and outstanding 0 0 Preferred Stock, Series B, .000001 par value 5,000 and 5,000 shares authorized, 5,000 issued and outstanding 0 0 Preferred Stock, Series C, $ .000001 par value, 100,000 and 100,000 shares and outstanding 0 0 Preferred Stock, Series D, .000001 par value, 1,144 shares authorized, 1,098 and 250 issued and outstanding 0 0 Additional paid in capital - common stock 121,095 99,980 Additional paid in capital - preferred stock (Series C) 1,287,091 1,287,091 Additional paid in capital - preferred stock (Series D) 1,098,643 250,000 Accumulated deficit

View Full Filing

View this 10-Q filing on SEC EDGAR