Company: BSFC
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001493152-25-012137
Chunk: 54

Company: Blue Star Foods Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 54
---

    %
  
    Expected
    stock price volatility

    133.70
    %
  
    Risk-free
    interest rate

    4.28
    %
  
    Expected
    term

    0.08
    years

Segment
Information

The
Company’s business consists of one operating segment, which is also its one reportable segment. The Company derives revenue by
providing sales of primarily seafood products to customers. The Company’s CODM is its chief executive officer who reviews financial
information presented on a consolidated basis. The CODM reviews total assets in the consolidated balance sheets and net loss and its
components in the consolidated statement of operations such as, cost of goods sold and other operating expenses, to assess financial
performance and allocate resources.

Reclassification of Prior Year Presentation

Certain prior year amounts have been reclassified
for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.

Recent
Accounting Pronouncements

ASU
2023-09 – Income Taxes (Topic 740)

In
December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU aims to enhance
the transparency and usefulness of income tax disclosures by requiring public business entities to provide more disaggregated information
in the effective tax rate reconciliation and for income taxes paid. Key provisions include a requirement for tabular reconciliation using
both percentages and amounts, broken out into specific categories, with certain reconciling items at or above a 5% quantitative threshold
further disaggregated by nature and/or jurisdiction. Additionally, the ASU requires disclosure of income taxes paid (net of refunds received),
disaggregated by federal, state/local, and foreign jurisdictions, and amounts paid to individual jurisdictions that comprise 5% or more
of total income taxes paid. The ASU also eliminates certain existing disclosure requirements related to unrecognized tax benefits and
cumulative unrecognized deferred tax liabilities. For public business entities, the amendments in ASU 2023-09 are effective for annual
periods beginning after December 15, 2024. The Company is currently evaluating the impact of this guidance on its consolidated financial
statements and related disclosures. The Company does not expect this adoption to have a material impact on its consolidated financial
statements.

    13

ASU
2024-03 – Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Sub