Company: BSFC
Filing Date: 2025-02-10
Form Type: POS AM
Source: 0001493152-25-005479
Chunk: 152

Company: Blue Star Foods Corp.
Filing Date: 2025-02-10
Form: POS AM
Chunk 152
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3, the Company issued an aggregate of 4,785shares of common stock to the designee of ClearThink for consulting services provided to the Company.

During the year ended December 31, 2023, the Company issued an aggregate of 27,612shares of common stock for cash proceeds of $ 343,849pursuant to a securities purchase agreement, dated May 16, 2023, with ClearThink. In connection with such agreement, the Company also issued 1,250shares of common stock to ClearThink as a commitment fee, with a fair value of $ 141,250, which was recorded as stock issuance costs.

During the year ended December 31, 2023, between October 2023 and November 2023, the Company issued an aggregate of 167,015shares upon the exercise of warrants pursuant to a securities purchase agreement.

During the year ended December 31, 2023, the Company issued an aggregate of 27,584shares of common stock to Lind with a fair value of $ 3,053,088as payment of $ 2,075,900of note principal due on a convertible promissory note, and recorded a loss of $ 977,188.

Note 10. Options

During the years ended December 31, 2023 and December 31, 2022, $ 69,125and $ 187,385, respectively, in compensation expense was recognized on the following:

| 1. | Ten-year                                                                                                                            
 option to purchase 3,120 shares of common stock at an exercise price of $2,000.00, which vest one year from the date of grant, were 
 issued to Christopher Constable, the Company’s former Chief Financial Officer, under the 2018 Plan during the year ended December   
 31, 2018 and have vested during the year ended December 31, 2019. In connection with our underwritten public offering, such shares  
 underlying the option are subject to a lock-up and may not be sold or otherwise transferred until May 3, 2022.                      |

| F-22 |

| 2.  | Ten-year                                                                                                                                   
 options to purchase an aggregate of 351 shares of common stock at an exercise price of $2,000.00, which vest as to 25% of the shares       
 subject to the option each year from the date of grant, were issued to various long-term employees under the 2018 Plan during the