Company: BSFC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021887
Chunk: 16

Company: Blue Star Foods Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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     (1,574)
  
    Warrant liability balance, September 30, 2024 
    $- 

The
table below presents the change in the fair value of the derivative liability convertible debt and warrant liability during the nine
months ended September 30, 2025:

    Derivative liability balance, January 1, 2025 
    $49,565 
  
    Issuance of derivative liability during the period 
     - 
  
    Change in derivative liability during the period 
     (14,090)
  
    Derivative liability balance, March 31, 2025 
    $35,475 
  
    Issuance of derivative liability during the period 
     - 
  
    Change in derivative liability during the period 
     (15,846)
  
    Derivative liability balance, June 30, 2025 
    $19,629 
  
    Issuance of derivative liability during the period 
     - 
  
    Change in derivative liability during the period 
     (19,629)
  
    Derivative liability balance, September 30, 2025 
    $- 

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:

Schedule
of Fair Market Value of Derivatives 

    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 

Segment
Information

The
Company’s business consists of one operating segment, which is also its one reportable segment. The Company derives revenue by
providing sales of primarily seafood products to customers. The Company’s CODM is its chief executive officer who reviews financial
information presented on a consolidated basis. The CODM reviews total assets in the consolidated balance sheets and net loss and its
components in the consolidated statement of operations such as, cost of goods sold and other operating expenses, to assess financial
performance and allocate resources.

Reclassification
of Prior Year Presentation

Certain
prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on
the reported results of operations.

Recent
Accounting Pronouncements

ASU
202