Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 307

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1
Chunk 307
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 brands, Blue Star, Pacifika and Oceanica are differentiated in terms of quality and price point. We believe that
we utilize best-in-class technology, in both resource sustainability management and ecological packaging.

We
intend to shift the business of Keeler & Co. over to Costal Pride. We anticipate no longer operating through Keeler & Co. by
the second quarter of 2025.

On
February 1, 2024, we entered into a ninety-day Master Services Agreement (the “Services Agreement”) with Afritex Ventures,
Inc. a Texas corporation (“Afritex”), pursuant to which we will be responsible for all of Afritex’s operations and
finance functions. We will provide Afritex with working capital in order to sustain operations and will purchase certain inventory listed
in the Services Agreement. The Company automatically extended the Services Agreement to August 31, 2024 after which it expired.

In connection with the Services Agreement, on February
1, 2024, AFVFL, a wholly-owned subsidiary of the Company, was incorporated in the State of Florida for the purpose of purchasing raw materials
from Afritex, up to the date of the Services Agreement expiration, for the preparation of packaged seafood and other inventory to be sold
to various customers in the United States.

5

Branded
Products

We
distribute our imported blue and red swimming crabmeat in the United States under the brand names Blue Star, Pacifika, Oceanica, Crab
& Go Premium Seafood, First Choice, Good Stuff and Coastal Pride Fresh and steelhead salmon and rainbow trout fingerlings produced
by TOBC under the brand name Little Cedar Falls.

Blue
Star is packed with only high quality Portunus Pelagicus species crab and is produced under exacting specifications and quality control
requirements.

Pacifika
is a quality brand for the price conscious end user. The Portunus Haanii crab meat is packed in China and is ideal for upscale plate
presentations.

Oceanica
is made from the Portunus Haanii crab, which is caught and processed in Vietnam. It is an affordable choice to help reduce food cost
without sacrificing the look/taste of dishes.

Crab
+ Go Premium Seafood is geared towards millennials as part of the trend toward pre-packaged, grab-and-go items. The product is packaged
in flexible foil pouches.

Lubkin
Brand is packed with quality Portunus Pelagicus species crab