Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 304

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1
Chunk 304
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Overview

We
are an international seafood company based in Miami, Florida that imports, packages and sells refrigerated pasteurized crab meat, and
other premium seafood products. Our current source of revenue is from purchasing blue and red swimming crab meat primarily from South
East Asia and distributing it in the United States and Canada under several brand names such as Blue Star, Oceanica, Pacifika, Crab &
Go, First Choice, Good Stuff and Coastal Pride Fresh. We are procure crabs from domestic fishermen, (which is sold fresh and frozen)
which in turn are distributed along with crabmeat and steelhead salmon and rainbow trout fingerlings produced under the brand name Little
Cedar Farms for distribution in Canada. The crab meat which we import from our suppliers are primarily via co-packing relationships,
including two affiliated suppliers. We sell our products to food service wholesalers, retail establishments and seafood distributors.

We
seek to create a vertically integrated seafood company that offers customers high quality products while maintaining a focus on our core
values of delivering food safety, traceability and certified resource sustainability. Our subsidiary companies procure, grow, harvest,
import and distribute high value seafood lines including but not limited to pasteurized, frozen and fresh crabmeat as well as steelhead
salmon.

Our
primary companies include:

Coastal
Pride Seafood, LLC (“Coastal Pride”) which imports pasteurized and fresh crab meat sourced primarily from Mexico
and Latin America and sells premium branded label crab meat throughout North America;

Taste
of BC Aquafarms, Inc. (“TOBC”), a land-based recirculating aquaculture systems (“RAS”) salmon farming
operation, which sells its steelhead salmon to distributors in Canada;

Afritex
Ventures Inc., (“AFVFL”), a commercial reseller of food products; and

John
Keeler & Co, Inc., (“Keeler & Co.”) doing business as Blue Star Foods, which imports, packages and sells refrigerated
pasteurized crab meat sourced primarily from Southeast Asia and other premium seafood products.

Throughout
2024, we have shifted away from Keeler & Co. and focused more heavily on Coastal Pride, Blue Star Foods Corp., and TOBC. We anticipate moving away completely
from Keeler & Co. in the second quarter of 2025.

Strategy

Our
long-term strategy is to create a vertically integrated seafood company that offers customers high quality products while maintaining
a focus on our core values of delivering food safety