Company: BSFC
Filing Date: 2025-02-10
Form Type: POS AM
Source: 0001493152-25-005479
Chunk: 137

Company: Blue Star Foods Corp.
Filing Date: 2025-02-10
Form: POS AM
Chunk 137
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 ) |     |   | (2,278,903 | ) |
| Fixed assets, net                             |     | $ | 303,857 |   |     | $ |    120,400 |   |

For the years ended December 31, 2023 and 2022, depreciation expense totaled approximately $ 4,500and $ 231,000, respectively.

Note 6. Goodwill and Intangible Assets, Net

The following table sets forth the changes in the carrying amount of the Company’s goodwill for the year ended December 31, 2022. No goodwill and intangible assets were recognized for the year ended December 31, 2023.

Schedule of Goodwill

|                      |     | 2022 |            |   |
|:---------------------|:----|:-----|-----------:|:--|
| Balance, January 1   |     | $    |    445,395 |   |
| Acquisition of TOBC  |     |      |    836,669 |   |
| Impairment           |     |      | (1,282,064 | ) |
| Balance, December 31 |     | $    |          - |   |

The following table sets forth the components of the Company’s intangible assets at December 31, 2022:

Schedule of Intangible Assets

| Intangible Assets Subject to amortization |     | Amortization Period (Years) |    |     | Cost |           |     | Accumulated Amortization and Impairment |            |   |     | Net Book Value |   |
|:------------------------------------------|:----|:----------------------------|---:|:----|:-----|----------:|:----|:----------------------------------------|:-----------|:--|:----|:---------------|:--|
| Trademarks – Coastal Pride                |     |                             | 14 |     | $    |   850,000 |     | $                                       | (850,000   | ) |     | $              | - |
| Trademarks – TOBC                         |     |                             | 15 |     |      |   406,150 |     |                                         | (406,150   | ) |     |                | - |
| Customer Relationships – Coastal Pride    |     |                             | 12 |     |      | 1,486,832 |     |                                         | (1,486,832 | ) |     |                | - |
| Customer