Company: BSFC
Filing Date: 2025-07-15
Form Type: 10-Q
Source: 0001641172-25-019736
Chunk: 0

Company: Blue Star Foods Corp.
Filing Date: 2025-07-15
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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The
accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United
States and the rules of the SEC, and should be read in conjunction with the audited financial statements and notes thereto contained
in our Annual Report on Form 10-K for the year ended December 31, 2024. In the opinion of management, all adjustments, consisting of
normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented
have been reflected herein. The results of operations for the periods presented are not necessarily indicative of the results to be expected
for the full year.

Blue
Star Foods Corp.

CONSOLIDATED
BALANCE SHEETS 

(UNAUDITED)

    MARCH
                                            31,
                                                                                2025  
    DECEMBER
    31, 2024 

    ASSETS 

    CURRENT
    ASSETS 

    Cash
    and cash equivalents 
    $23,049  
    $326,854 
  
    Accounts
    receivable, net of allowances and credit losses of $30,473 and $33,880 
     455,518  
     349,641 
  
    Inventory,
    net 
     342,825  
     447,760 
  
    Other
    current assets 
     932,810  
     1,109,494 
  
    Total
    Current Assets 
     1,754,202  
     2,233,749 
  
    FIXED
    ASSETS, net 
     126,389  
     122,860 
  
    RIGHT
    OF USE ASSET 
     74,599  
     84,145 
  
    OTHER
    ASSETS 
     95,328  
     113,845 
  
    TOTAL
    ASSETS 
    $2,050,518  
    $2,554,599 
  
    LIABILITIES
    AND STOCKHOLDERS’ EQUITY 

    CURRENT
    LIABILITIES 

    Accounts
    payable and accruals 
    $963,428  
    $982,243 
  
    Customer
    refunds 
     23,510  
     56,899 
  
    Current
    maturities of lease liabilities 
     36,035  
     35,688 
  
    Loan