Company: BSFC
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001493152-25-012137
Chunk: 71

Company: Blue Star Foods Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 71
---

shares of common stock which warrants are exercisable upon stockholder approval at an exercise price of $23.28
per share. Since the exercise of these warrants is contingent upon stockholder approval, which stockholder approval has not been
obtained, such warrants were not considered as outstanding as of June 30, 2025.

On
September 11, 2023, in connection with the underwritten public offering, the
Company issued 18 eighteen-month Series A-2 warrants to purchase up to 214,823
shares of common stock which warrants are exercisable upon stockholder approval at an exercise price of $23.28
per share. Since the exercise of these warrants is contingent upon stockholder approval, which stockholder approval has not been
obtained, such warrants were not considered as outstanding as of June 30, 2025.

There
was no warrant activity for the six months ended June 30, 2025 and 2024.

Note
11. Commitment and Contingencies

Office
lease

On
January 1, 2022, the Company entered into a verbal month-to-month lease agreement for its executive offices with an unrelated third party
and paid $34,800 on the lease for the six months ended June 30, 2024. For the six months ended June 30, 2025, the Company paid $25,800
under this lease.

Coastal
Pride leased approximately 1,100 square feet of office space in Beaufort, South Carolina which consists of a lease with a related party
for $1,000 per month that expires in October 2024. In August 2024, the lease was terminated effective immediately.

Coastal
Pride also leased a 9,050
square foot facility for $1,000
per month
from Gault, an unrelated third party, for its soft-shell crab operations in Beaufort, South Carolina under a 1 one-year lease that
expired in February 2023. On February 3, 2023, the lease was renewed for $1,500
per month until February 2024. On February 3, 2024, the Coastal Pride entered into a verbal month-to-month lease agreement with
Gault for $1,500
per month. For the six months ended June 30, 2025, Coastal Pride paid $9,000
on the lease.

The
offices and facility