Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 517

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1A
Chunk 517
---
 of these audited consolidated financial statements

F-2

Blue
Star Foods Corp.

CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

    2024  
    2023 

    Year Ended December 31 

    2024  
    2023 

    REVENUE, NET 
    $3,593,881  
    $6,124,529 

    COST OF REVENUE 
     4,882,871  
     5,966,452 

    GROSS PROFIT (LOSS) 
     (1,288,990) 
     158,077 

    COMMISSIONS 
     4,490  
     2,169 
  
    SALARIES AND WAGES 
     1,668,585  
     1,858,004 
  
    DEPRECIATION AND AMORTIZATION 
     5,866  
     4,521 
  
    OTHER OPERATING EXPENSES 
     7,147,468  
     2,525,661 

    LOSS FROM OPERATIONS 
     (10,115,399) 
     (4,232,278)

    OTHER INCOME 
     51,926  
     12,708 
  
    CHANGE IN FAIR VALUE OF DERIVATIVE AND WARRANT LIABILITIES 
     (354,296) 
     2,497,088 
  
    LOSS ON SETTLEMENT OF DEBT 
     -  
     (977,188)
  
    INTEREST EXPENSE 
     (2,060,718) 
     (1,771,942)

    NET LOSS 
     (12,478,487) 
     (4,471,612)

    NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS 
    $(12,478,487) 
    $(4,471,612)

    COMPREHENSIVE LOSS: 

    CHANGE IN FOREIGN CURRENCY TRANSLATION ADJUSTMENT 
     185,169  
     55,858 

    COMPREHENSIVE LOSS 
     (12,293,318) 
     (4,415,754)

    Loss per common share: 

    Net loss per common share - basic and diluted 
    $(4.15) 
    $(43.99)