Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 306

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1
Chunk 306
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” incubator and five tanks with moving bed biofiltration.
The fish are then transferred to the main RAS system approximately 12 weeks post hatch. TOBC’s feed is largely terrestrial based
from grains and other non-marine ingredients.

We
believe that the faster life cycle from birth to harvesting of our salmon, as compared to conventional salmon, allows it to be produced
more economically in contained, land-based RAS farms. Although RAS farms require greater capital investment than the sea cage approach,
we believe that the higher costs are offset by more efficient growth and a shorter transportation distance to market.

Keeler
& Co., doing business as Blue Star Foods, is an international seafood company that imports, packages and sells refrigerated pasteurized
crab meat sourced primarily from Southeast Asia and other premium seafood products.

Keeler
& Co. purchases our crab product (Portunus Pelagicus and Portunus Haanii) from processors which source the crab meat from local fishermen
in Indonesia, the Philippines, Thailand, Vietnam, Sri Lanka and India, to whom we pay a premium in order to outfit their boats with a
proprietary GPS-based system. This system allows us to trace where the crab product originates and ensure that only mature crabs are
being harvested by the use of collapsible traps and not gill nets.

The
crab meat is purchased directly from processors with whom we have long-standing relationships, that have agreed to source their product
in a sustainable manner. All crab meat is sourced under the Company’s U.S Food & Drug Administration (“FDA”) approved
Hazard Analysis Critical Control Point (“HACCP”) Plan. Additionally, all suppliers are certified by the British Retail Consortium
(the “BRC”) and are audited annually to ensure safety and quality of our product.

The
imported crab meat is processed in six out of the ten plants available throughout Southeast Asia. Our suppliers are primarily via co-packing
relationships, including two affiliated suppliers. We sell primarily to food service distributors. We also sell our products to wholesalers,
retail establishments and seafood distributors.

We
have created a technology platform that tracks the product through its entire chain of custody and collects and transmits various data
to the Company in real-time, from the loading site to the packing plant, through the sorting and pasteurization process and the exporting
process to the end customer. Our technology allows our customers access to their “Scan on Demand” QR code-enabled traceability
application.

Our
premium proprietary