Company: BSFC
Filing Date: 2025-03-05
Form Type: S-1
Source: 0001493152-25-009166
Chunk: 134

Company: Blue Star Foods Corp.
Filing Date: 2025-03-05
Form: S-1
Chunk 134
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 for earnings per share pursuant to ASC 260, Earnings per Share, which requires disclosure on the financial statements of “basic” and “diluted” earnings (loss) per share. Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted average number of common shares outstanding for the year. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding plus common stock equivalents (if dilutive) related to stock options, warrants and convertible notes for each year. For the years ended December 31, 2023 and 2022, the following common stock equivalents were excluded from the calculation of diluted earnings per share as their impact would be anti-dilutive due to the Company’s net loss.

Schedule of anti dilutive earnings or loss per share

|                   |     |   |        Year ended 
 December 31, 2023 |     |   |        Year ended 
 December 31, 2022 |
|:------------------|:----|:--|------------------:|:----|:--|------------------:|
| Options           |     | $ |           316,540 |     | $ |           223,076 |
| Warrants          |     |   |           730,944 |     |   |           120,675 |
| Convertible Notes |     |   |        11,708,483 |     |   |                 - |
| Total             |     | $ |        12,755,967 |     | $ |           343,751 |

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC 718, “Compensation-Stock Compensation”. ASC 718 requires companies to measure the cost of services received in exchange for an award of equity instruments, including stock options, based on the grant-date fair value of the award and to recognize it as compensation expense over the period the individual is required to provide service in exchange for the award, usually the vesting period. The Company accounts for forfeitures as they occur.

| F-12 |

Related Parties

The Company accounts for related party transactions in accordance with ASC 850 (“Related Party Disclosures”). A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management,