Company: BSFC
Filing Date: 2025-03-05
Form Type: S-1
Source: 0001493152-25-009166
Chunk: 123

Company: Blue Star Foods Corp.
Filing Date: 2025-03-05
Form: S-1
Chunk 123
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 $      | - |     |                                | 461,722 |     |        | 46 |     | $                  | 36,661,926 |     | $           | (33,810,732 | ) |     | $                               | (179,995 | ) |     | $        | (76,323 | ) |     | $                          |   2,594,922 |   |
| Balance                                                                        |     |                                           | - |     | $      | - |     |                                | 461,722 |     |        | 46 |     | $                  | 36,661,926 |     | $           | (33,810,732 | ) |     | $                               | (179,995 | ) |     | $        | (76,323 | ) |     | $                          |   2,594,922 |   |

<div align='center'>The accompanying notes are an integral part of these audited consolidated financial statements</div>

| F-4 |

<div align='center'>Blue Star Foods Corp.

CONSOLIDATED STATEMENTS OF CASH FLOWS</div>

|                                                                                |     | 2023                   
 Year Ended December 31 
 2023                   |            |   |     | 2022 
 2022 |             |   |
|:-------------------------------------------------------------------------------|:----|:-----------------------|-----------:|:--|:----|:-----|------------:|:--|
| CASH FLOWS FROM OPERATING ACTIVITIES:                                          |     |                        |            |   |     |      |             |   |
| Net Loss                                                                       |     | $                      | (4,471,612 | ) |     | $    | (13,194,969 | ) |
| Adjustments to reconcile net loss to net cash (used in) operating activities:  |     |                        |            |   |     |      |             |   |
| Stock based compensation                                                       |     |                        |     69,125 |   |     |      |     187,385 |   |
| Common stock issued for service                                                |     |                        |    319,083 |   |     |      |     667,998 |   |
| Impairment of goodwill                                                         |     |                        |          - |   |     |      |   1,244,309 |   |
| Impairment of intangible assets                                                |     |                        |          - |