Trans American Aquaculture Files Q3 2024 10-Q

TL;DR

**Trans American Aquaculture (TAA) filed its Q3 2024 10-Q. Based in Dallas, TX.**

AI Summary

Trans American Aquaculture, Inc. filed its 10-Q for the period ending September 30, 2024. The company, incorporated in Colorado, operates in the livestock and animal specialties sector. Its principal executive offices are located at 1022 Shadyside Lane, Dallas, TX 75223.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Trans American Aquaculture, Inc. as of the end of the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing and does not contain immediate, significant financial or operational disclosures that would indicate a high-risk event.

Key Players & Entities

• Trans American Aquaculture, Inc. (company) — Registrant
• 000-56640 (company) — Commission File Number
• Colorado (company) — State of incorporation
• 02-0685828 (company) — I.R.S. Employer Identification No.
• 1022 Shadyside Lane, Dallas, TX 75223 (company) — Principal Executive Offices
• September 30, 2024 (date) — Quarterly period end date

FAQ

Key Financial Figures

• $0.000001 — 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
• $445,500 — result of a short-term capital gain of $445,500 on the sale of a joint venture interest
• $155,200 — est. This resulted in taxable income of $155,200 and an unremitted federal income tax li
• $33,180 — emitted federal income tax liability of $33,180. With accrued penalties and interest, t
• $58,300 — the total due the IRS is approximately $58,300. All liabilities, including federal tax
• $250,000 — sh and had no balances in excess of the $250,000 FDIC limit for the period ended Septemb
• $750,000 — le factoring agreement in the amount of $750,000. The agreement calls for 80% with recou
• $135,847 — eceivables on February 7, 2024, totaled $135,847, of which $12,357 remains outstanding a
• $12,357 — ary 7, 2024, totaled $135,847, of which $12,357 remains outstanding after factoring fee
• $0 — actoring fees at September 30, 2024 and $0 at December 31, 2023. NOTE 4 –
• $210,000 — 30, 2024 and December 31, 2023 totaled $210,000 and $60,388, respectively. The Company
• $60,388 — December 31, 2023 totaled $210,000 and $60,388, respectively. The Company recorded in
• $196,552 — ompany recorded inventory write-down of $196,552 related to the death of broodstock in i
• $52,291 — 0, 2024 and 2023, totaled approximately $52,291 and $55,585. The amount of depreciation

Filing Documents

• transaqua_10q-093024.htm (10-Q) — 378KB
• transaqua_ex3101.htm (EX-31.1) — 11KB
• transaqua_ex3102.htm (EX-31.2) — 11KB
• transaqua_ex3201.htm (EX-32.1) — 3KB
• 0001683168-24-008263.txt ( ) — 403KB

—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 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 25

Controls and Procedures

Item 4. Controls and Procedures 25

—OTHER INFORMATION

PART II—OTHER INFORMATION 26

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 26

Other Information

Item 5. Other Information 26

Exhibits

Item 6. Exhibits 26

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Trans American Aquaculture, Inc. (Formerly Gold River Productions, Inc.) Consolidated Balance Sheets September 30, December 31, 2024 2023 (Unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 0 $ 6,600 Receivable from factor 12,357 0 Inventory 222,234 247,825 Other current assets 904 0 TOTAL CURRENT ASSETS 235,495 254,425 PROPERTY AND EQUIPMENT 7,901,541 7,935,824 Less accumulated depreciation (547,287 ) (527,827 ) NET PROPERTY AND EQUIPMENT 7,354,254 7,407,997 TOTAL ASSETS $ 7,589,749 $ 7,662,422 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Overdraft $ 5,605 $ 0 Accounts payable 486,946 480,721 Accrued interest expense 1,154,126 789,265 Other accrued expenses 594,208 345,825 Income tax payable 0 0 Due to related parties 1,642,598 1,667,985 Current portion of notes payable 1,129,671 525,609 TOTAL CURRENT LIABILITIES 5,013,154 3,809,406 LONG-TERM LIABILITIES Notes payable, net of current portion 4,164,388 4,332,293 TOTAL LONG-TERM LIABILITIES 4,164,388 4,332,293 STOCKHOLDERS' EQUITY Common stock, $.000001 par value, 3,000,000,000 shares authorized, 1,471,954,105 and 1,452,655,528 shares issued and outstanding 35 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 authorized, 100,000 issued and outstanding and outstanding 0 0 Preferred Stock, Series D, .000001 par value, 1,144 shares authorized, 1,143 and 1,076 issued and outstanding 0 0 Additional paid in capital - common stock 135,103 99,980 Additional paid in capital - preferred stock (Series C) 1,287,091 1,287,091 Additional paid in capital - preferred stock (Series D) 1,143,774

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View this 10-Q filing on SEC EDGAR