Company: BSFC
Filing Date: 2025-02-10
Form Type: POS AM
Source: 0001493152-25-005479
Chunk: 157

Company: Blue Star Foods Corp.
Filing Date: 2025-02-10
Form: POS AM
Chunk 157
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 stockholder approval has not been obtained, such warrants were not considered as outstanding as of December 31, 2023.

During the year ended December 31, 2023, the Company issued 800shares of common stock at an exercise price of $ 199.00per share pursuant to pre-funded warrants issued to Aegis in connection with an underwritten offering.

For the year ended December 31, 2023, between October 2023 and November 2023, the Company issued an aggregate of 201,023shares of common stock at an exercise price of $ 0.50to two investors upon exercise of Pre-Funded Warrants.

| F-25 |

Note 12. Income taxes

Federal income tax expense differs from the statutory federal rates of 21% for the years ended December 31, 2023 and December 31, 2022 due to the following:

Schedule of Rate Reconciliation

|                                                | Rate           
 Reconciliation |   |  December 
  31, 2023 |   |     |        |    |     |   |   December 
   31, 2022 |   |     |        |    |
|:-----------------------------------------------|:---------------|:--|----------:|:--|:----|-------:|:---|:----|:--|-----------:|:--|:----|-------:|:---|
| Provision/(Benefit)                            
 at statutory rate                              |                | $ |   851,925 |   |     |  21.00 | %  |     | $ | (2,770,944 | ) |     |  21.00 | %  |
| State                                          
 tax Provision/(Benefit) net of federal benefit |                |   |  (206,832 | ) |     |   5.10 | %  |     |   |   (309,886 | ) |     |   2.35 | %  |
| Permanent                                      
 book/tax differences                           |                |   |  (237,419 | ) |     |   5.85 | %  |     |   |     10,621 |   |     | (0.048 | )% |
| Change                                         
 in valuation allowance                         |                |   |    74,848 |   |     |  (1.85 | )% |     |   |  2,751,592 |   |     |