Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 788

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1C
Chunk 788
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 Accounts receivables 
     (380,671) 
     (494,801) 
     114,130  
     (66,283) 
     (400,833) 
     334,550  
     (816,994) 
     (1,029,836) 
     212,842 
  
    Inventories 
     167,992  
     (526,329) 
     694,321  
     (400,510) 
     (993,816) 
     593,306  
     (472,435) 
     (815,304) 
     342,869 
  
    Other current assets 
     (102,539) 
     343,599  
     (446,138) 
     (799,947) 
     724,095  
     (1,524,042) 
     (863,936) 
     (501,381) 
     (362,556)
  
    Accounts payable and accruals 
     388,691  
     487,124  
     (98,433) 
     130,298  
     292,407  
     (162,109) 
     127,653  
     210,867  
     (83,214)

    F-11

Note
3. Summary of Significant Accounting Policies

Basis
of Presentation

The
accompanying financial statements of the Company were prepared in accordance with accounting principles generally accepted in the United
States of America (“U.S. GAAP”).

Principles
of Consolidation

The
consolidated financial statements include the accounts of the Company, Keeler & Co, Inc. a wholly owned subsidiary, Coastal Pride
Seafood, LLC (“Coastal Pride”), a wholly owned subsidiary of Keeler & Co., Inc., Taste of BC Aquafarms, Inc. (“TOBC”),
a wholly owned subsidiary, and Afritex Ventures Inc. (“AFVFL”) a wholly owned subsidiary. All intercompany balances and transactions
have been eliminated in consolidation.

Long-lived
Assets

Management
reviews long-lived assets, including finite-lived intangible assets, for indicators of impairment whenever events or changes in circumstances
indicate that the carrying value may not be recoverable. Cash flows expected to be generated by the related