Company: BSFC
Filing Date: 2025-07-15
Form Type: 10-Q
Source: 0001641172-25-019736
Chunk: 2

Company: Blue Star Foods Corp.
Filing Date: 2025-07-15
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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,518  
    $2,554,599 

The
accompanying notes are an integral part of these unaudited consolidated financial statements

 4 

Blue
Star Foods Corp.

CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(UNAUDITED)

    Three
    Months Ended March 31 

    2025  
    2024 

    REVENUE, NET 
    $960,758  
    $1,059,355 

    COST OF REVENUE 
     869,114  
     1,098,989 

    GROSS PROFIT 
     91,644  
     (39,634)

    COMMISSIONS 
     -  
     4,221 
  
    SALARIES AND WAGES 
     408,296  
     301,790 
  
    DEPRECIATION AND AMORTIZATION 
     6,386  
     1,299 
  
    OTHER
    OPERATING EXPENSES 
     648,483  
     681,611 

    LOSS FROM OPERATIONS 
     (971,521) 
     (1,028,555)

    OTHER INCOME 
     6,615  
     1,535 
  
    CHANGE IN FAIR VALUE OF DERIVATIVE
    AND WARRANT LIABILITIES 
     14,090  
     82,636 
  
    LOSS ON SETTLEMENT OF DEBT 
     (41,066) 
     - 
  
    INTEREST
    EXPENSE 
     (208,048) 
     (335,067)

    NET LOSS 
     (1,199,930) 
     (1,279,451)

    NET
    LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS 
    $(1,199,930) 
    $(1,279,451)

    COMPREHENSIVE GAIN (LOSS): 

    CHANGE
    IN FOREIGN CURRENCY TRANSLATION ADJUSTMENT 
     18,840  
     78,033 

    COMPREHENSIVE
    GAIN (LOSS) 
     (1,181,090) 
     (1,201,418)

    Loss per common share: 

    Net
    loss per common share - basic and diluted