Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 253

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 13
Chunk 253
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 Gold, a related party. These payments were an addition to the existing long-term receivable
of $435,540 with Strike the Gold. The Company determined it appropriate to record an allowance for the full balance due from Strike the Gold. For the
year ended December 31, 2024, the Company also sold inventory to Strike the Gold amounting $210,354 which will be recognized only upon
collection as collectability is not reasonably assured.

55

Director
Independence

We
are not currently subject to listing requirements of any national securities exchange or inter-dealer quotation system that has requirements
that a majority of the board of directors be “independent.” Our board of directors currently has six members, Jeffrey J.
Guzy, Timothy McLellan, Trond Ringstad, John Keeler, Nubar Herian and Silvia Alana. We believe that all of our directors except Mr. Keeler
who serves as our Executive Chairman, and Silvia Alana who serves as our Chief Executive Officer, are “independent” within
the definition of independence provided in the Marketplace Rules of the Nasdaq Stock Market and the independence requirements contemplated
by Rule 10A-3 under the Securities Exchange Act of 1934.

ITEM
14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

Audit
Fees

The
aggregate fees billed to us by our principal accountants, MaloneBailey, LLP, for professional services rendered for the year ended December
31, 2024 and 2023 are set forth below:

    Fee
    Category 
    Year
                                            ended December
                                            31, 2024  
    Year ended
                                                                                December 31,
                                                                                 2023 

    Audit fees (1) 
    $299,260  
    $221,800 
  
    Audit-related fees (2) 
     -  
     53,560 
  
    Tax fees (3) 
        
     - 
  
    All other fees (4) 
        
     - 
  
    Total fees 
    $299,260  
    $275,360 

    (1)
    
    Audit
    fees consist of fees incurred for professional services rendered for the audit of financial statements, for reviews of our interim
    consolidated financial statements included in our quarterly reports on Form 10-Q and for services that are normally provided in connection
    with statutory or regulatory filings or engagements.

    (2)