Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 1177

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 4
Chunk 1177
---
    (3,160,465
    )
  
    Warrant liability balance, end of year  
    $- 

    1,574

The
fair market value of all derivatives and warrant liability as of December 31, 2023 was determined using the Black-Scholes option pricing
model which used the following assumptions:

 Schedule
of Fair Market Value of Derivatives

    Stock price 
    $7.00 
  
    Expected dividend yield 
     0.00%
  
    Expected stock price volatility 
     133.54%
  
    Risk-free interest rate 
     4.79%
  
    Expected term 
     1.50 years 

    F-17

The
fair market value of all derivatives and warrant liability as of December 31, 2024 was determined using the Black-Scholes option pricing
model which used the following assumptions:

    Stock price 
    $0.13 
  
    Expected dividend yield 
     0.00%
  
    Expected stock price volatility 
     189.14%
  
    Risk-free interest rate 
     4.32%
  
    Expected term 
     0.58 years 

Earnings
or Loss per Share

The
Company accounts 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, 2024 and 2023, 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,
                                                                               2024  
    Year ended
                                                                               December 31,
                                                                               2023 

    Options 
    $4,935  
    $6,331 
  
    Warrants 
     12,205  
     14,619 
  
    Convertible Notes