Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 576

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1A
Chunk 576
---
 plan for its employees. For the years ended December 31, 2024 and 2023, no contributions were
made to the plan by the Company.

Note
14. Subsequent Events

Shares
issuances

On
January 13, 2025 and February 25, 2025, the Company issued an aggregate of 750,000 shares of common stock to Quick Capital as partial
conversion of $57,673 principal pursuant to the convertible promissory note.

On
January 14, 2025, the Company issued 480,000 shares of common stock to each of Nubar Herian and John Keeler, 960,000 shares of common
stock to each of Timothy McLellan and Trond Ringstad, and 1,440,000 shares of common stock to Jeffrey Guzy, for serving as directors
of the Company.

On
January 17, 2025 and February 25, 2025, the Company issued an aggregate of 406,484
shares of common stock to Jefferson as partial conversion of $33,333
principal and accrued interest pursuant to the convertible promissory note.

On
January 1, 2025 and March 1, 2025, the Company issued an aggregate of 302,762 shares of common stock, to the designee of ClearThink Capital
for consulting services provided to the Company.

On
March 11, 2025, the Company issued 350,000 shares of common stock in consideration of proceeds of $19,950 pursuant to a securities purchase
agreement, dated May 16, 2023 with ClearThink.

On
March 12, 2025, the Company issued 288,101 shares of common stock to Diagonal as partial conversion of $15,000 principal pursuant to
the convertible promissory note.

Note
issuances

On
January 28, 2025, pursuant to a securities purchase agreement, the Company issued to Diagonal a convertible promissory note in the principal
amount of $149,650 with an original issue discount of $19,650 (the “January Diagonal Note”). The January Diagonal Note has
a one-time interest payment of $19,454 paid upon issuance and a maturity date of October 30, 2025. Upon the occurrence of an event of
default as described in the January Diagonal Note, the note will become immediately due and payable at a default interest rate of 22%