Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 319

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1
Chunk 319
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 in liability for pollution, property damage, personal injury or other hazards. Although
we believe we have obtained insurance in accordance with industry standards to address such risks, such insurance has limitations on
liability and/or deductible amounts that may not be sufficient to cover the full extent of such liabilities or losses. In addition, such
risks may not, in all circumstances, be insurable or, in certain circumstances, we may choose not to obtain insurance to protect against
specific risks due to the high premiums associated with such insurance or for other reasons. The payment of such uninsured liabilities
would reduce the funds available to us. If we suffer a significant event or occurrence that is not fully insured, or if the insurer of
such event is not solvent, we could be required to divert funds from capital investment or other uses towards covering any liability
or loss for such events.

Our
operations, revenue and profitability could be adversely affected by changes in laws and regulations in the countries where we do business.

The
governments of countries into which we sell our products, from time to time, consider regulatory proposals relating to raw materials,
food safety and markets, and environmental regulations, which, if adopted, could lead to disruptions in distribution of our products
and increase our operational costs, which, in turn, could affect our profitability. To the extent that we increase our product prices
as a result of such changes, our sales volume and revenues may be adversely affected.

Furthermore,
these governments may change import regulations or impose additional taxes or duties on certain imports from time to time. These regulations
and fees or new regulatory developments may have a material adverse impact on our operations, revenue and profitability. If one or more
of the countries into which we sell our products bars the import or sale of crab meat or related products, our available market would
shrink significantly, adversely impacting our results of operations and growth potential.

A
decline in discretionary consumer spending may adversely affect our industry, our operations and ultimately our profitability.

Luxury
products, such as premium grade crab meat, are discretionary purchases for consumers. Any reduction in consumer discretionary spending
or disposable income may affect the crab meat industry significantly. Many economic factors outside of our control could affect consumer
discretionary spending, including the financial markets, consumer credit availability, prevailing interest rates, energy costs, employment
levels, salary levels, and tax rates. Any reduction in discretionary consumer spending could materially adversely affect our business
and financial condition.

13

Our
business is affected by the quality and