Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 569

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1A
Chunk 569
---
2022.
  
    8.
    Three-year
    3 option to purchase 6 shares of common stock at an exercise price of $790.00, which vest in equal monthly installments during the
    term of the option, were issued to an employee during the year ended December 31, 2022.
  
    9.
    Three-year
    3 option to purchase 864 shares of common stock at an exercise price of $40.00, which vest in equal monthly installments during the
    term of the option, were issued to an officer of the Company during the year ended December 31, 2023 and was forfeited during the year ended December 31, 2024.
  
    10.
    Three-year
    3 option to purchase 1,030 shares of common stock at an exercise price of $17.50, which vest in equal monthly installments during
    the term of the option, were issued to an employee during the year ended December 31, 2023.

    F-30

The
following table summarizes the assumptions used to estimate the fair value of the stock options granted for the years ended December
31, 2024 and 2023:

 Schedule
of Fair Value of Stock Options

    2024  
    2023 
  
    Expected
    Volatility 
     -% 
     35%
                                            – 45 % 
  
    Risk
    Free Interest Rate 
     -% 
     2.87%
                                            – 4.72 % 
  
    Expected
    life of options 
     -  
     3.0
                                            – 5.0   

On
August 3, 2023, the Company granted an officer a three-year 3 option to purchase 864 shares of common stock at an exercise price of
$40.00, which vest in equal monthly installments during the term of the option.

On
October 1, 2023, the Company granted an employee a three-year 3 option to purchase 1,030 shares of common stock at an exercise price
of $18.00, which vest in equal monthly installments during the term of the option.

Under
the Black-Scholes option pricing model, the fair value of the 864 options and 1,030 options granted during the year ended December 31,
2023 is estimated at $12,261 and $5,489,