Directors resign; subsidiary Trans American Aquaculture LLC files Chapter 11 bankruptcy

Trans American Aquaculture, Inc

Directors Saleem Elmasri and Jeffrey Sedacca resigned Dec 9, 2024; Elmasri also resigned as Audit Committee Chair.
Wholly owned subsidiary TAA LLC filed for Chapter 11 bankruptcy on Dec 13, 2024 after note holder recorded deed in lieu foreclosure.
Bankruptcy case #24-10217; company states it will continue operations and develop a restructuring plan to reduce debt.
CEO Adam Thomas cites commitment to preserving assets and emerging as a stronger company.

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