Company: BSFC
Filing Date: 2025-07-15
Form Type: 10-Q
Source: 0001641172-25-019736
Chunk: 68

Company: Blue Star Foods Corp.
Filing Date: 2025-07-15
Form: 10-Q
Item: Part II, Item 1
Chunk 68
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There
are no material pending legal proceedings to which we are a party or in which any director, officer or affiliate of ours, any owner of
record or beneficially of more than 5% of any class of our voting securities, or security holder is a party adverse to us or has a material
interest adverse to us.

ITEM
1A. RISK FACTORS

We
are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information under this
item.

ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

On
January 13, 2025 and February 24, 2025, the Company issued an aggregate of 750,000 shares of common stock to Quick Capital as partial
conversion of $57,673 principal pursuant to the convertible promissory note.

On
January 14, 2025, the Company issued 480,000 shares of common stock to each of Nubar Herian and John Keeler, 960,000 shares of common
stock to each of Timothy McLellan and Trond Ringstad, and 1,440,000 shares of common stock to Jeffrey Guzy, for serving as directors
of the Company.

January
17, 2025, and February 25, 2025, the Company issued an aggregate of 406,484 shares of common stock to Jefferson as partial conversion
of $32,583 principial and accrued interest pursuant to the convertible promissory note.

On
March 12, 2025, the Company issued 288,101 shares of common stock to Diagonal as partial conversion of $15,000 principal pursuant to
the convertible promissory note.

During
the three months ended March 31, 2025, the Company issued an aggregate of 302,762 shares of common stock to the designee of ClearThink
for consulting services provided to the Company.

ITEM
3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM
4. MINE SAFETY DISCLOSURES

Not
applicable.

ITEM
5. OTHER INFORMATION

During
the three months ended March 31, 2025, none of the Company’s directors or officers adopted or terminated any contract, instruction,
or written plan for the purchase or sale of the Company’s securities intended to satisfy the affirmative defense conditions of
Rule 10b5-1(c) under