Company: BSFC
Filing Date: 2025-02-10
Form Type: POS AM
Source: 0001493152-25-005479
Chunk: 12

Company: Blue Star Foods Corp.
Filing Date: 2025-02-10
Form: POS AM
Chunk 12
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5.

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Vendor Agreement

On November 12, 2024 the Company entered into a vendor agreement with Low Tide LLC (“LT”). The term of the agreement is 180 days, which will be automatically renewed for additional successive 180 day terms unless either party gives 90 days written notice to terminate to the other.

LT has developed products, including but not limited to seafood, under the Wicked Tuna brand using its licensing rights from Pilgrim and the Toby Keith brand, (collectively the “Products”). We will, with LT, promote and sell the Products.

The Company may, at its discretion, provide funding for the inventory to fulfill a purchase order (each a “PO”) for the Products sold, and the parties will each receive the following:

| (i) | As                                                                                                                             
 relates to Wicked Tuna, if the Company obtains a PO of a Product from its customers, we will pay LT a five percent (5%) margin 
 on the Net Sales Amount. Net Sales Amount shall mean gross sales less returns and promotions and freight allowance.            |

| (ii) | As                                                                                                                                    
 relates to the Toby Keith brand, if LT obtains a PO for the Products from its customers and the Company funds the purchase of the     
 inventory to fulfil the PO, the Company shall receive a fee of one percent (1%) of the amount funded per month from LT from the first 
 day of each month that the amount remains outstanding plus an allocation expense which shall be a direct pass through of cost which   
 shall be calculated to include the cost of the product as well expenses associated with transportation, storage and miscellaneous     
 expenses. The Company will be paid directly by LT’s customers. Thereafter, the Company will pay LT its portion within 48 hours        
 of receiving funds for each PO.                                                                                                       |

The parties agreed to certain customary covenants, including those relating to confidentiality and litigation. The parties also agreed to certain mutual indemnification provisions for breaches or inaccuracies in their respective representations and warranties or covenants.

NASDAQ Delisting

On December 18, 2024, the Companyreceived formal notice from The Nasdaq Stock Market LLC (“Nasdaq”) that the Nasdaq Hearings Panel (the “Panel”) had determined to delist the Company’s securities from Nasdaq based upon the Company’s violation of Listing Rule 5550(a)(2), the “ Minimum Bid Price Requirement”. As a result of the Panel’s decision, Nasdaq suspended trading in the Company’s Common Stock effective with the