Company: BSFC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021887
Chunk: 0

Company: Blue Star Foods Corp.
Filing Date: 2025-11-12
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

    SEPTEMBER 30, 2025  
    DECEMBER 31, 2024 

    Unaudited  
    Audited 
  
    ASSETS 

    CURRENT ASSETS 

    Cash and cash equivalents 
    $82,770  
    $326,854 
  
    Accounts receivable, net of allowances and credit losses of $24,330 and $33,880 
     97,240  
     349,641 
  
    Inventory 
     117,266  
     447,760 
  
    Other current assets 
     602,522  
     1,109,494 
  
    Advance to related party 
     130,925  
     - 
  
    Total Current Assets 
     1,030,723  
     2,233,749 
  
    FIXED ASSETS, net 
     113,506  
     122,860 
  
    RIGHT OF USE ASSET-RELATED PARTY 
     59,095  
     84,145 
  
    OTHER ASSETS 
     70,959  
     113,845 
  
    TOTAL ASSETS 
    $1,274,283  
    $2,554,599 
  
    LIABILITIES AND STOCKHOLDERS’ EQUITY 

    CURRENT LIABILITIES 

    Accounts payable 
    $492,901  
    $307,121 
  
    Accrued expenses 
     317,021  
     135,122 
  
    Accrued compensation 
     405,000  
     540,000 
  
    Customer refunds 
     -  
     56,899