Company: BSFC
Filing Date: 2025-07-15
Form Type: 10-Q
Source: 0001641172-25-019736
Chunk: 7

Company: Blue Star Foods Corp.
Filing Date: 2025-07-15
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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    Proceeds from short-term loan 
     550,000  
     532,491 
  
    Repayments of short-term loan 
     (489,783) 
     (276,643)
  
    Repayments of related party notes payable 
     -  
     (79,582)
  
    Net Cash Provided by Financing Activities 
     80,167  
     622,626 

    Effect of Exchange Rate Changes on Cash 
     18,492  
     78,583 

    NET INCREASE IN CASH AND CASH EQUIVALENTS 
     (303,805) 
     (1,865)

    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 
     326,854  
     24,163 

    CASH AND CASH EQUIVALENTS – END OF PERIOD 
    $23,049  
    $22,298 

    Supplemental Disclosure of Cash Flow Information 

    Cash paid for interest 
    $25,472  
    $234,051 

    SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES 

    Common stock issued for partial settlement of note payable 
     147,821  
     68,320 
  
    Common stock issued for loan commitment fees 
     -  
     50,000 
  
    Common stock issued for directors stock compensation 
     540,000  
     - 

The
accompanying notes are an integral part of these unaudited consolidated financial statements

 7 

NOTES
TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

Note
1. Company Overview

Blue
Star Foods Corp., a Delaware corporation (“we”, “our”, the “Company”), is an international sustainable
marine protein company based in Miami, Florida that imports, packages and sells refrigerated pasteurized crab meat, and other premium
seafood products. The Company’s main operating business, John Keeler & Co., Inc. (“Keeler & Co.”) was incorporated
in the State of Florida in May 1995. The Company has three other subsidiaries, Coastal Pride, TOBC and AFVFL which maintain the Company’s
fresh crab meat, steelhead salmon and packaged seafood and other inventory businesses, respectively. The Company’s current source
of revenue is importing blue and red