Company: BSFC
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001493152-25-012137
Chunk: 17

Company: Blue Star Foods Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 3
Chunk 17
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We
are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information under this
item.

ITEM
4. CONTROLS AND PROCEDURES

Evaluation
of Disclosure Controls and Procedures

Under
the supervision and with the participation of our management, including our principal executive officer and principal financial
officer, as of March 31, 2025, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under
Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended. Based on this evaluation our
principal executive officer and principal financial officer has concluded that based on the material weaknesses discussed below our
disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed by us in
reports filed or submitted under the Securities Exchange Act were recorded, processed, summarized, and reported within the time
periods specified in the SEC’s rules and forms and that our disclosure controls are not effectively designed to ensure that
information required to be disclosed by us in the reports that we file or submit under the Securities Exchange Act is accumulated
and communicated to management, including our principal executive officer and principal financial officer, or persons performing
similar functions, as appropriate to allow timely decisions regarding required disclosure.

The
matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the
Public Company Accounting Oversight Board were:

●
inadequate control over the monitoring of inventory maintained in the Company’s third-party warehouse;

●
ineffective controls over the Company’s financial close and reporting process; and

●
inadequate segregation of duties consistent with control objectives, including lack of personnel resources and technical accounting expertise
within the accounting function of the Company.

Management’s
Remediation Initiatives

In
an effort to remediate the identified material weaknesses and other deficiencies and enhance our internal controls, we plan to further
initiate, the following measures, subject to the availability of required resources:

●
We plan to create a position to segregate duties consistent with control objectives and hire personnel resources with technical accounting
expertise within the accounting function; and

●
We plan to create an internal control framework that will address financial close and reporting process, among other procedures.

Changes
in Internal Control over Financial Reporting

During
the period covered by this Quarterly Report, there were no changes