Company: BSFC
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001493152-25-012137
Chunk: 76

Company: Blue Star Foods Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 six
months ended June 30, 2024 as a result of increase in inventory items sold along with increase in price during the six months ended
June 30, 2025.

Cost
of Goods Sold. Cost of goods sold for the six months ended June 30, 2025 increased to $1,788,764 as compared to $1,686,505 for the
six months ended June 30, 2025. This increase is attributable to cost in the inventory items sold along with increase in items sold.

Gross
Profit. Gross profit for the six months ended June 30, 2025 increased to $344,334 as compared to gross profit of $7,868 in the six
months ended June 30, 2024. This increase is attributable to increase in sales.

Commissions
Expense. Commissions expense decreased to $460 for the six months ended June 30, 2025 from $4,221 for the six months ended June 30,
2024. This decrease was due to commissionable revenues for the six months ended June 30, 2025.

Salaries
and Wages Expense. Salaries and wages expense increased to $603,510 for the six months ended June 30, 2025 as compared to $598,912
for the six months ended June 30, 2024. This increase is mainly attributable to the accrual of director compensation for year-end stock
issuances.

Director Compensation. Director
compensation increased to $276,024 for the three months ended June 25, 2025 as compared to a credit balance of $1,673 for the six months
ended June 30, 2024. This increase is mainly attributable to the accrual of director compensation for year-end stock issuances. 

Depreciation
and Amortization. Depreciation and amortization expense increased to $13,318 for the six months ended June 30, 2025 as compared to
$2,676 for the six months ended June 30, 2024. This increase is attributable to higher depreciation due to depreciable purchases of fixed
assets during the six months ended June 30, 2025.

Other
Operating Expense. Other operating expense decreased to $916,418 for the six months ended June 30, 2025 from $1,315,801 for the six
months ended June 30, 2024. This decrease is mainly attributable to expenses