Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 824

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1C
Chunk 824
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 27, 2024, the Company issued an aggregate of 250,000 shares of common stock to Jefferson as partial conversion of $20,436 principal
pursuant to the convertible promissory note.

During
the year ended December 31, 2024, the Company issued an aggregate of 1,339,656
shares of common stock in consideration of net proceeds of $2,975,610
pursuant to a securities purchase agreement, dated May 16, 2023 with ClearThink.

During
the year ended December 31, 2024, the Company issued an aggregate of 1,891,310 shares of common stock to Lind as partial conversion of
$1,500,000 principal pursuant to the May 2023 convertible promissory note.

During
the year ended December 31, 2024, the Company issued an aggregate of 128,118 shares of common stock to the designee of ClearThink with
a fair value of $132,000 for consulting services provided to the Company.

During
the year ended December 31, 2024, the Company sold an aggregate of 5,370,176 shares of common stock for net proceeds of $3,186,016 in
an “at the market” offering pursuant to a sales agreement between the Company and H.C. Wainwright & Co., LLC (“Wainwright”).

Note
9. Options

During
the years ended December 31, 2024 and December 31, 2023, $2,968 and $69,125, respectively, in compensation expense was recognized on
the following:

    1.
    Ten-year
    10 options to purchase an aggregate of 351 shares of common stock at an exercise price of $2,000.00, which vest as to 25% of the
    shares subject to the option each year from the date of grant, were issued to various long-term employees under the 2018 Plan during
    the year ended December 31, 2019 and 166 was forfeited during the year ended December 31, 2024.
  
    2.
    Ten-year
    10 option to purchase 250 shares of common stock at an exercise price of $2,000.00, which vest as to 20% of the shares subject to
    the option each year from the date of grant, were issued to an officer of the Company under the 2018 Plan