---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-004502"
form_type: "8-K"
ticker: "GRPS"
cik: "0001990446"
company_name: "Trans American Aquaculture, Inc"
filed_at: "2024-06-26T23:59:59+00:00"
generated_at: "2026-06-01T01:57:06.769514+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Trans American Aquaculture issues $350k secured note at 42.9% interest, enters forbearance on $5.6M debt

## Summary
- $350,000 secured promissory note issued to IG Holdings and Iron Rings; fixed interest $12,500/month (42.9% annual).
- Interest-only payments due monthly; default rate 60% per annum; late fee $100/day; maturity Dec 16, 2024.
- Warrants for 97,222,222 shares at $0.0036 issued to finder Honor Enterprise Funding; exercisable after 3 months.
- Forbearance agreement with Kings Aqua Farm on $5.6M note; company must pay $77,374.56 before Aug 6, 2024 to avoid default.
- Note secured by first deed on Hutts Property and second deed on Farm Property; default triggers conversion at $0.0039/share.

## SEC filing metadata
- accession: 0001683168-24-004502
- form_type: 8-K
- ticker: GRPS
- cik: 0001990446
- company_name: Trans American Aquaculture, Inc
- filed_at: 2024-06-26T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1990446/000168316824004502/0001683168-24-004502-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1990446/000168316824004502/transaqua_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-004502
- JSON: https://secwatch.observer/filing/0001683168-24-004502.json
- Plain text: https://secwatch.observer/filing/0001683168-24-004502.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.