A way to express how fucked up you are in a manner that is as fucked up as you are. Fuktup being more percussive resembles the lazy-tongued hard-syllabled speech a drunk person would have. To you, a drunk person is fucked up. To him, "I'm fuggin fuktup!".
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.
"Base we've got some square groupers floating outside of Miami harbor."