Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 925

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 2
Chunk 925
---
1,574 
  
    Total 
    $1,048,623  
    $-  
    $-  
    $1,048,623 

The
table below presents the change in the fair value of the derivative liability convertible debt and warrant liability for the years ended
December 31, 2024 and 2023:

 Schedule
of Change in Fair Value of Derivative Liability Convertible Debt and Warrant Liability

     December 31,
                                                                                                                                                                              2024 

    December 31,
                                                                                                                 2023

    Derivative liability balance, beginning of year 
    $1,047,049 
     
    $
    -

    Issuance of derivative liability during the period 
     47,410 

    383,672

    Settlement of derivative liability 
     (1,384,450)

    -

    Change in derivative liability during the period 
     339,556 

    663,377

    Derivative liability balance, end of year 
    $49,565 
     
    $
    1,047,049

    Warrant liability balance, beginning of year 
    $1,574 
     
    $
    -

    Issuance of warrant liability during the period 
     - 

    5,032,025

    Settlement of warrant liability 
     - 

    (1,869,986
    )
  
    Change in warrant liability during the period 
     (1,574)

    (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