Company: BSFC
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001493152-25-012137
Chunk: 66

Company: Blue Star Foods Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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 transaction or series of related transactions any shares of capital stock of
the Company or any warrants, rights or options to purchase or acquire any such shares, or repay any indebtedness of the investor (iii)
advance any loans made in the ordinary course of business in excess of $100,000, (iv) sell, lease or otherwise dispose of any significant
portion of our assets outside the ordinary course of business, and (v) enter into any transaction or arrangement structured in accordance
with, based upon, or related or pursuant to, in whole or in part, either Section 3(a)(9) or Section 3(a)(10) of the Securities Act.

In
conjunction with the August Private Placement Offering, the Company entered into a registration rights agreement with each of Quick Capital
and Jefferson. The Company agreed to file a registration statement with the Securities and Exchange Commission to register the re-sale
of the maximum number of shares of Common Stock covered in the August Private Placement Offering within sixty (60) calendar days from
the date of execution.

During
the six months ended June 30, 2025, the Company made aggregate principal payments on the Private Placement Notes of $246,454 of which
$80,255 was paid through the issuance of an aggregate of 1,000,000 shares of common stock. The outstanding balance on the loan was $111,060
as of June 30, 2025.

Vehicle
Loan

On
December 7, 2024, the Company entered into a financing loan in connection with the purchase of a company vehicle. The loan has a principal
amount of $69,299, bears interest at an annual rate of 9.34%, and is repayable in monthly installments of $1,450, including principal
and interest, over a term of 60 months. For the six months ended June 30, 2025, the Company made principal payments on the loan totaling
$7,843 and interest payments of $2,357. The outstanding balance on the loan was $61,457 as of June 30, 2025.

    19

Note
8. Stockholders’ Equity

On
January 25, 2024, the Company issued 7,092 shares of common stock to ClearThink, with a fair value of $50,000, as a commitment fee on
the term loan.

On
February 12, 2024, the Company issued 100,000 shares of common stock